As an industry and company, we are constantly challenged by our clients to drive efficiency and create long-term value. Over the past 20 years, vessels have become significantly more efficient, burning less fuel and offering improved reliability. Technologies such as FuelTrax have been developed to enhance fuel efficiency, while data analytics platforms like Opsealog help create operational efficiencies offshore. These are just a few examples of the many products and services aimed at generating cost savings and operational value across our industry.

The next generation of OSVs will be even more efficient than those currently in operation. However, due to the astronomical cost of constructing a new OSV, often approaching $100 million, it will be many years before we see a meaningful number of these vessels enter the market. In the meantime, creative and unconventional strategies are being implemented to deliver efficiencies to our clients—such as sharing OSV charter fleets among multiple operators.

Jackson Offshore is unique in its willingness to work with our three major clients to facilitate vessel sharing. Although we’ve supported client-led vessel-sharing initiatives for several years, consistent, operationalized sharing has only recently become a reality. Previously, sharing was limited to dedicated runs, but we’re now seeing joint runs, where a single vessel carries cargo for two client locations. This marks a significant step forward for our clients and reflects a broader shift toward collaborative, efficient OSV support across the Gulf of America.

While many of our peers remain hesitant (or outright resistant) to sharing vessels among clients, we see long-term strategic value in enabling this model. We will continue to do everything we can to help our clients maximize the value of each vessel—whether on a dedicated run or a shared one. Through vessel sharing, clients can gaining efficiencies that would otherwise be unattainable.

Looking ahead, joint-run vessel sharing may play a key role in making the next generation of OSVs financially viable. Because of their high construction and operational costs, it’s likely that future OSVs will require shared commitments from at least two charterers. Whether or not JOO’s efforts in vessel sharing ultimately influence new builds, we can take pride in the leadership we’ve shown in this space.