PETALING JAYA: The offshore support vessel (OSV) market continues to face chronic under-investment, as the global fleet ages progressively each year.
Citing data from global maritime consultancy Clarksons, Kenanga Research said 80% of the global OSV fleet will be over 20 years old by 2035, indicating that a significant portion of vessels may no longer be in optimal working condition if substantial reinvestment in fleet renewal does not occur.
