The Offshore-Monarch: Crew Feedback and Vessel Data

In a significant turn of events for the maritime industry, the 'Ocean Monarch,' the last of the offshore supply vessels, has officially resumed operations after a lengthy lay-up period in Haldia. This moment marks the conclusion of a challenging era for shipowners, especially following the sale of 60 vessels within the oil and gas sector. The 'Ocean Monarch' had been idle in Great Yarmouth, UK, since July 2018, racking up an impressive 1,525 days in lay-up. The trend of stacking vessels began in 2015 as market rates plummeted, resulting in nearly 120 platform supply vessels (PSVs) being left inactive in docks at the lowest point of the market during 2016 and 2017. As the industry recovers, this resumption of service signals renewed hope and resilience among maritime operators.