Workboat's Offshore Service Vessel Report Now Available Through WorkBoat.com: Report Provides Six-Year Analysis of U.S. Gulf OSV and Crewboat Rates and Utilization

PORTLAND, ME, March 19, 2011 (Press-News.org) The new WorkBoat Offshore Service Vessel Report provides key information and analysis to help OSV operators, shipyards and others make important market and financing decisions to better position them for the future.

"The WorkBoat OSV Report is a valuable reference tool for vessel and rig operators, financial analysts, marine finance experts and others who work in and do business with the offshore energy service sector," said David Krapf, editor in chief of WorkBoat magazine.

Jerry Greenberg, Gulf of Mexico correspondent for WorkBoat and WorkBoat.com, conducted the analysis of monthly average day rates and utilization for supply vessels and crewboats in the U.S. Gulf of Mexico from 2005 through 2010. The detailed, 25-page report identifies trends and offers unique information and insight into the ways that rig utilization and supply affects the pricing and utilization of U.S. Gulf OSVs and crewboats. The report includes year-over-year detailed graphs for each OSV and crewboat vessel class as well as annual graphs and summaries.

"If you're trying to forecast workboat activity, what you need to do first is forecast rig activity," said Greenberg. "That's the main thing that's going to affect supply vessel, crewboat and anchor-handling towing/supply (AHTS) vessel activity. There's no way to look at the boat market by itself and get a handle on pricing and utilization."

The executive summary of the WorkBoat Offshore Service Vessel Report is available free at www.WorkBoat.com. The full report can be purchased through the website. The special price for WorkBoat.com members is $995, and $1,295 for non-members. For details, visit www.WorkBoat.com.

Greenberg's OSV report is a valuable reference tool for those seeking to understand the rig and boat market in the U.S. Gulf. This is especially true considering the uncertain post-Deepwater Horizon environment in the Gulf of Mexico. As of March 2011, five months after the deepwater drilling moratorium was lifted, only two drilling permits have been issued for new exploration wells in the Gulf. The deepwater drilling moratorium resulted in at least five deepwater rigs leaving the Gulf over the summer of 2010.

"There likely will be more," predicted Greenberg. "Some will be gone long term, others short term. If and until the deepwater market returns to pre-Macondo well blowout levels, it may be difficult to determine the demand for supply vessels. The key is to hit the ground running when work does return to the Gulf, to have crews and resources optimized."

The WorkBoat Offshore Service Vessel Report is an exclusive product of WorkBoat and can only be purchased through the online store.

For further information:
Denielle Christensen
DChristensen@divcom.com
(207) 842-5596

About WorkBoat.com
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