OSV players face stiff competition


Does this mean I should plan my offshore work now? Do I get discounts, charter one vessel, get a DSV free?

Dateline 2012-03-29:

That national oil company Petroliam Nasional Bhd (Petronas) and other oil majors are planning significant spending was seen as a great boon for local oil and gas (O&G) support services providers.

But this may not translate into an immediate windfall for domestic offshore support vessel (OSV) operators given the intensifying competition, particularly from foreign players, said the newly formed Malaysia OSV Owners Association (OSV Malaysia).

OSV Malaysia president Tasripin Masotee said local OSV players are unable to offer competitive rates because they do not enjoy the tax benefits granted to Malaysian merchant shippers. These include tax exemptions for spare parts, lower corporate tax and no personal taxes for crew members.

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This entry was posted on Wednesday, April 18th, 2012 at 6:00 am and is filed under business opportunity, Malaysia. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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