Owners of offshore support vessel are securing charters from the Middle East as oil companies continue investing in offshore infrastructure. However, they should expect to cut rates further because of competition for long-term charters from Asian owners. Brokers at Fearnley Offshore Supply said Middle East activity remained resilient during the second half of this year as oil producers were investing in Saudi Arabia, Abu Dhabi and Qatar. This is on the back of substantial reserves in the region and relatively low production costs. handlers, crew transfer ships and utility vessels.
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