Offshore support vessel (OSV) owners and charterers should come together to share their ships to improve efficiency, an industry expert believes.
Stanislas Oriot, senior marine consultant at shipping analytics company Opsealog, said a practice that is already seen in the container sector has the potential to boost utilisation and reduce emissions.
“In a tight market, it makes little sense to have vessels spending much of their time idling – which is bad for fuel efficiency and bad for the environment,” he told TradeWinds. “Yet this is what often happens when OSVs are on charter.”
Vessel sharing offers an opportunity to boost utilisation and reduce overall costs, Oriot argues.
While there are past examples of vessel sharing being deployed in the offshore sector, even over large fleets, it is not commonplace today, Oriot explains.
“The potential cost savings and emissions reductions offered by the practice, however, are making it an attractive solution once more, especially as offshore ramps up efforts to decarbonise,” he said.
The concept of vessel sharing is regularly seen in container shipping, where lines like CMA CGM and AP Moller-Maersk can take space on each other’s ships.
Oriot says sharing would work in a similar way for OSVs, although it might only be possible for certain types of deck cargo.
Containers, hoses, pipes, anchors and more are all brought out to rigs.
The Opsealog expert says one of the chief concerns is that shared logistics could create delays.
Charterer support needed
“Vessel sharing will only proceed with the support of charterers and it is understandable that they want to retain control over the OSV operations, as they have always done to date, as this allows them to better adapt to unpredictable events and reduce the risk of delays,” he told TradeWinds.
The offshore industry faces the challenge of greater pressure to reduce its carbon footprint, while higher interest rates are reducing appetite for newbuilding in a sector that has not seen any orders for a decade.
Day rates have hit record levels at times over the last year as greater demand puts pressure on supply.
Oriot sees rates increasing in the future.
And this could spark a reappraisal of vessel sharing.
“The result could be reduced costs and fewer voyages of vessels – therefore minimising risk, fuel consumption and emissions at sea. In addition, fewer engine hours offer benefits such as reduced maintenance time and costs,” the consultant said.
He views the situation as a win-win for owners and charterers, but added: “A level of open-mindedness is required from charterers towards a different way of delivering operations, at it will be down to their initiative to take advantage of potential efficiency and gains offered by vessel sharing.”
The strongest argument for the practice may be the upcoming European carbon levy, Oriot believes.
This will encourage any measures to reduce emissions to avoid higher costs.
