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DNV on OSV Tear in Middle East

"The high oil price has created a boom market for offshore support vessels and we expect the oil market will remain high for the foreseeable future,” said Eivind Grostad, DNV’s Senior Vice President & Regional Manager for DNV Maritime. According to the classification society, DNV Maritime has captured 50% of the Middle East and Indian market in classification of new vessels on order or being built. This figure represents 39% of the total tonnage of vessels currently operating in the region.