North Sea OSV Market Tightens as Havila and Eidesvik Secure Long-Term PSV Contracts

## North Sea OSV Market Tightens as Havila and Eidesvik Lock In Long-Term Work Two of Norway's prominent offshore vessel operators have announced significant contract wins and extensions for platform supply vessels (PSVs) operating in the North Sea, underscoring the sustained strength of the offshore support vessel market as energy companies commit to longer-term vessel arrangements. ### Havila Secures Six Vessel-Years with Neo Next + Energy Havila Shipping has signed firm three-year contracts with Neo Next + Energy's UK arm for two of its PSVs, according to Splash247. The agreements cover the 2010-built **Havila Fanø** and the 2009-built **Havila Herøy**, with each contract running firm for three years until September — representing a combined six vessel-years of secured employment. The deal provides Havila with meaningful revenue visibility at a time when North Sea day rates have remained elevated, and demonstrates continued operator confidence in deploying older but well-maintained tonnage on extended terms. ### Equinor Extends Eidesvik PSV Through End of 2027 Separately, Eidesvik Offshore has received a contract extension from energy major Equinor for the 5,700 dwt PSV **Viking Avant**, Splash247 reports. The extension runs directly from the vessel's current contract, pushing the firm period through to the end of 2027, with an option period also included. Equinor, one of the largest charterers of offshore support vessels on the Norwegian Continental Shelf, has been actively extending existing arrangements rather than returning vessels to the spot market — a strategy that benefits owners with reliable, long-term cash flow. ### Market Context These contract announcements reflect a broader trend of energy companies seeking to secure PSV capacity on firm, multi-year terms amid a constrained supply of modern offshore tonnage. The North Sea OSV sector has experienced a sustained recovery following the prolonged downturn of the mid-2010s, with limited newbuild activity keeping vessel availability tight and supporting day rates. For Norwegian OSV owners such as Havila and Eidesvik, long-term fixtures reduce exposure to spot market volatility and provide the financial stability needed to maintain ageing fleets and plan future investment. Both announcements reinforce the view that the North Sea offshore support market remains a robust environment for established operators with proven vessel track records.