While I was in Fourchon this past week, the level of activity suggested that the spring and summer months will be busy, as per usual. Though there was obvious vessel activity, the vessels being utilized continue to be the newer and younger boats while the older, lesser efficient, and less capable vessels were noticeably much less utilized.

Nearly a dozen large but older OSVs sit noticeably idle in Fourchon. This is not surprising considering that many of these vessels were chartered on a short-term basis during the last spring and summer activity uptick. As activity slowed into the winter these were the first boats to be released. It’s possible that the anticipated increase in seasonal demand this spring and summer will drive enough demand that some (or many) of these older vessels could return to service. However, in the longer-term, the newer, more capable, and most importantly, much more efficient vessels will remain consistently in high demand.

The current market conditions remain generally favorable for vessel owners in the Gulf of America with a marked benefit to the younger, more capable vessels.