OSV Market: Howling Wind Test Tight CSOV Market

As the market moves toward the end of the summer season in the northern hemisphere, several offshore support vessels are expected to roll off their contracts over the coming months. Shipowners are thus already positioning tonnage for the winter and next summer season. The CSOV market has remained tight over the past three months with multiple spot fixtures above EUR 60,000 per day.

Throughout the season the market has also seen nine newbuilds delivered since early May, but the market has absorbed the additional tonnage without difficulty. Four of these vessels did admittedly already have long-term commitments in place, while the remaining five secured contracts upon delivery. Notably, five of the latest deliveries had been delayed by more than six months.

Shipowners’ behavior currently reflects two distinct commercial strategies. Some operators are prioritising utilisation, accepting lower dayrates to secure forward coverage. Others, typically with limited backlog, are instead seeking premium pricing as one of few remaining available units. For this particular summer season, we have seen vessel suppliers achieving these premium dayrates, however, historically those same shipowners have typically achieved lower utilisation through the winter months.

Moreover, 2026 thus far has brought a higher degree of seasonal fixtures compared with 2025.