OSV specifications: how global and regional market dynamics impact the fleet

Anchor Handler Tug Support (AHTS) and Platform Supply Vessels (PSV) are designed to handle a variety of offshore activities, and have a wide range of specifications to match. No one single design fits all vessels. 

AHTS are defined by their installed power, which drives their core missions: anchor handling, towing and subsea deployment. These tasks require high bollard pull and strong maneuvering capabilities. Power ranges extend up to 24 MW, with wide variation reflecting differing operational demands and weather constraints. 

In contrast, PSV are shaped by cargo-carrying, making deck area the critical constraint. Designs range from compact 200m² units for routine supply runs to large 1,300 m² vessels for heavy logistics in harsher environments. 

In this blog post, we share how regional and global market dynamics have shaped the fleet as it is today. 

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OSV market dynamics and AHTS power spec

Over the course of the past two decades, the AHTS fleet has developed to follow the needs of the market from the last big oil and gas (O&G) boom to today’s growing offshore wind sector. 

1. Between 2004 and 2010, vessel deliveries increased as O&G companies invested heavily in offshore projects. This created strong demand for AHTS vessels to support those operations. 
2. The period between 2008 and 2012 was marked by a surge in complex deepwater and ultra-deepwater exploration projects. In order to operate successfully in these conditions, many vessel owners invested in very large units, with installed power exceeding 10 MW. This strategy reflects a shift in operational demand for deepwater projects, characterized by heavy-duty drilling support, subsea construction, and operations in harsh or remote environments. 
3. After 2012, deliveries dropped sharply across all power classes, driven by falling oil prices, widespread project postponements and cancellations. The OSV market entered a period of oversupply. 
4. Newbuild activity remained limited between 2018 and 2025. This was largely due to constrained financing, cautious investment strategies, and a market preference for reactivating laid-up vessels rather than ordering new ships. 

Since 2020, 74 AHTS have been delivered, with 45% built for the Middle East. As a region with milder sea states, high-power vessels are not required for heavy anchor-handling campaigns. This means that once again, vessels below 10 MW are dominating, as was the case prior to 2008. 

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Does regional demand impact PSV specifications?

Regional requirements also influence PSV design. In the chart below, the regional fleet distribution by deck area indicates a clear concentration of heavy PSVs in South America and Northern Europe. These two regions sustain structural demand for larger vessels due to long-cycle subsea work and harsher weather. 

Meanwhile, other basins rely more on lighter PSVs with smaller deck areas. This reflects the shorter project scopes in these regions, alongside more fragmented activity, and lower structural requirements for heavy units. 

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The heavy PSV market

Europe and South America are the main high-demand basins for heavy PSVs, with utilization near or above 90%. 

• Europe benefits from steady subsea work, maintenance programs, and seasonal construction peaks. 
• South America, led by Brazil, maintains demand through long-cycle FPSO, drilling, and subsea campaigns that keep large units employed. 

North America and APAC show more volatile utilisation, with more fragmented fleets and wider variation in vessel size. 

• In North America, irregular deepwater activity in the Gulf of Mexico and a smaller asset base drive utilization swings. 
• APAC is even more dispersed, shaped by uneven project pipelines and seasonal weather constraints, including monsoons, which cause recurring dips in activity.

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Public vessel data is frequently unavailable, with a significant share of AHTS and PSV owners not disclosing complete specifications for their fleets. By missing key design features like installed power, bollard pull, and deck area, it can be difficult to undertake consistent capability across vessels. This reduces visibility for charterers, owners, and regulators, who rely on technical data to assess vessel performance. 

Yet, because design parameters follow stable relationships across the fleet, it is possible to allow for accurate data estimations, as undertaken by Spinergie. To find out more about how you can access our OSV data, including monthly reports, request a free demo.

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