8 Untapped Markets Beyond Oil and Gas Where OSVs Are Quietly Thriving

The fastest-growing alternative market for OSVs is offshore wind. Wind farm construction and maintenance projects need more than just turbine tech — they require a fleet of workhorses. OSVs are stepping up as platform supply vessels, crew transfer vessels, cable lay support, and walk-to-work accommodation ships.

• Transporting turbine components, tools, and technicians to offshore sites.
• Serving as floating workshops and accommodation for wind farm crews.
• Supporting jack-up installation vessels during turbine erection phases.
• Dynamic positioning makes OSVs ideal for tight precision near monopiles or floating platforms.

• Europe’s North Sea wind farms have already absorbed dozens of laid-up PSVs and AHTSs.
• The U.S. East Coast and Asia-Pacific regions are seeing a surge in OSV conversions into SOVs (Service Operation Vessels).
• Floating wind farms — requiring anchoring and deep-sea cable handling — will further boost demand for OSVs with DP2/DP3 systems.

• Converted OSVs can command rates 30–50% higher in offshore wind compared to low-demand oil chartering.
• Many operators are shifting from daily charters to multi-year service contracts with renewable developers.

• Refitting an OSV for wind support avoids the carbon footprint of building new vessels from scratch.
• Helps offshore operators meet ESG goals while diversifying away from fossil fuels.

• Hornbeck Offshore (U.S.): Converting 280-foot OSVs into U.S.-flagged wind farm service vessels.
• REM Offshore (Norway): Deploying multi-purpose support vessels for both oil and wind clients.
• Louis Dreyfus Armateurs (France): Custom-built hybrid SOVs for European wind farm operators.

Bottom line: Offshore wind is no longer a niche — it's a core OSV market. If you're not bidding on wind farm contracts, you're leaving steady revenue (and future-proof relevance) on the table.

With coastlines crowded and demand for fish skyrocketing, aquaculture is moving offshore — and OSVs are going with it. From feed transport to net cleaning and technician transfer, offshore fish farms now rely on converted support vessels to sustain operations farther from land.

• Transporting bulk feed to offshore cages using onboard silos and blower systems.
• Serving as mobile maintenance platforms for net washing and delousing operations.
• Providing crew accommodations and safe access in rougher waters.
• Deploying ROVs for cage inspection and environmental monitoring.

• Norwegian operators like Eidsvaag have converted OSVs into high-capacity feed vessels.
• China, Chile, and Canada are all scaling offshore fish farming infrastructure.
• Global seafood demand is projected to rise 30–40% by 2030 — with offshore farms expected to close the gap.

• Feed vessels operate on consistent weekly or biweekly schedules — providing steady charter income.
• Conversions are relatively low-cost compared to building specialty aquaculture vessels.
• Operators benefit from long-term contracts with major seafood companies.

• Offshore farming reduces pressure on coastal ecosystems and supports cleaner growing conditions.
• Vessels equipped with hybrid power and low-emission engines appeal to eco-conscious producers and regulators.

• Eidsvaag Opal (Norway)Former PSV converted to transport 2,800+ tonnes of fish feed offshore.
• SalMar Ocean Farm 1Supported by OSVs for monitoring and service in rough-sea installations.
• Inverlussa Marine Services (UK)Operates hybrid-powered aquaculture support vessels in Scotland.

Bottom line: Offshore aquaculture isn’t a trend — it’s a new frontier. OSVs that once hauled drill pipe are now delivering salmon feed and biosecurity gear. This is a market with reliable contracts, repeat business, and room to grow.

As the demand for critical minerals like nickel, cobalt, and rare earth elements surges, deep-sea mining has emerged as a frontier industry. OSVs are being repurposed to support these operations, providing platforms for mineral extraction, processing, and transportation from the ocean floor.

• Serving as platforms for deploying and operating seabed mining equipment.
• Facilitating the collection and initial processing of polymetallic nodules.
• Providing accommodation and operational support for crew and equipment.
• Ensuring precise positioning and stability during mining operations through dynamic positioning systems.

• Companies like The Metals Company and Allseas are leading initiatives in deep-sea mining, utilizing converted drillships for mineral extraction.
• Exploration activities are underway in regions like the Clarion-Clipperton Zone, rich in polymetallic nodules.
• Advancements in technology are making deep-sea mining more feasible and efficient.

• Access to untapped mineral resources presents significant economic opportunities.
• Long-term contracts and partnerships with mining companies can provide stable income streams for OSV operators.
• Diversification into deep-sea mining can mitigate risks associated with traditional oil and gas markets.

• Deep-sea mining offers an alternative to land-based mining, potentially reducing environmental degradation on land.
• However, it raises concerns about marine ecosystems, necessitating responsible practices and regulations.
• OSVs can be equipped with monitoring systems to minimize environmental impact during operations.

• Hidden GemA former drillship converted by Allseas and The Metals Company into a subsea mining vessel for collecting polymetallic nodules.
• Anuanua MoanaPreviously a subsea support vessel, now operated by Moana Minerals for conducting deep-sea mining surveys in the Cook Islands.
• MV MafutaOriginally a heavy-lift vessel, converted by De Beers into a diamond-mining ship operating off the coast of South Africa.

Bottom line: Deep-sea mining represents a significant opportunity for OSVs to diversify their operations. By supporting the extraction of critical minerals from the ocean floor, OSVs can play a pivotal role in meeting global demand while navigating the challenges of environmental stewardship.

As governments, universities, and private firms expand their interest in the ocean’s depths, OSVs are quietly becoming the go-to platform for marine research and seabed surveying. Their size, stability, and deck space make them ideal for scientific missions that require precision and endurance offshore.

• Launching and recovering ROVs and AUVs for seabed mapping, pipeline inspection, or biological sampling.
• Serving as floating research stations equipped with laboratories, sonar arrays, and sampling tools.
• Supporting offshore wind and subsea cable surveys during planning and installation phases.
• Performing environmental impact assessments for offshore projects and conservation zones.

• Scientific institutions are chartering or buying surplus OSVs to convert them into research-ready platforms.
• Marine survey companies are using DP1 and DP2 OSVs to perform hydrographic and UXO (unexploded ordnance) surveys across Europe and Asia.
• Demand is growing as offshore infrastructure expands and nations invest more in ocean observation.

• Converted OSVs often secure long-term research or survey contracts with government or energy clients.
• Daily rates for specialized survey support are competitive and more stable than spot chartering in oil.
• Charters are typically mission-driven, reducing idle time and ensuring focused utilization.

• Vessels support environmental monitoring and marine conservation work in sensitive areas.
• Reusing OSVs avoids the emissions and material waste of building new research ships.
• Data collected contributes to climate science, fisheries management, and marine protected areas.

• RV Falkor (Too)A former Norwegian OSV converted into a deep-sea exploration and research vessel with advanced labs and ocean tech facilities.
• RFA ProteusOriginally a subsea construction vessel, now serving in a surveillance and seabed monitoring capacity for national infrastructure protection.
• OceanXplorerA former survey vessel reimagined as a cutting-edge mobile research and media platform for marine science and discovery missions.

Bottom line: Marine research is one of the most meaningful second lives an OSV can have. With demand for ocean data rising and scientific budgets growing, these vessels are finding renewed purpose—this time in service of understanding the planet, not just exploiting it.

In times of crisis, OSVs have proven to be invaluable assets for emergency response and disaster relief operations. Their versatility, robust construction, and onboard facilities make them well-suited for rapid deployment in various emergency scenarios.

• Serving as platforms for search and rescue missions during maritime emergencies.
• Providing medical facilities and accommodations for disaster relief personnel.
• Transporting essential supplies and equipment to affected areas.
• Supporting firefighting operations and oil spill response efforts.

• Governments and NGOs are increasingly recognizing the value of OSVs in emergency preparedness and response strategies.
• Regulatory frameworks are evolving to facilitate the use of OSVs in disaster scenarios, enhancing their deployment efficiency.
• Investment in specialized equipment and training is expanding the capabilities of OSVs in emergency roles.

• Engagements in emergency response operations can provide OSV operators with new revenue streams.
• Long-term contracts with governmental agencies and humanitarian organizations offer financial stability.
• Participation in disaster relief efforts enhances the reputation and marketability of OSV operators.

• Utilizing existing OSVs for emergency response reduces the need for constructing new specialized vessels.
• Supports community resilience and environmental protection during disasters.
• Demonstrates corporate social responsibility and commitment to humanitarian causes.

• Life SupportA converted OSV now operating as a migrant rescue ship in the Mediterranean, equipped with medical facilities and accommodations for rescued individuals.
• ABFC Ocean ShieldOriginally an offshore support vessel, repurposed by the Australian Border Force for humanitarian and disaster relief missions.
• Bourbon ArgosAn anchor handling tug supply vessel adapted for search and rescue operations, providing medical assistance and relief supplies.

Bottom line: The adaptability of OSVs makes them indispensable in emergency response and disaster relief efforts. Their deployment not only aids affected communities but also opens new operational avenues for vessel operators.

As offshore industries expand into more remote and challenging environments, the demand for reliable and comfortable workforce accommodations has grown. OSVs are being repurposed to serve as floating hotels, providing essential living and working spaces for personnel in sectors such as offshore wind, oil and gas, and marine construction.

• Providing temporary housing for workers during offshore construction and maintenance projects.
• Serving as floating hotels (floatels) for crews in remote locations.
• Supporting offshore wind farm operations by accommodating technicians and engineers.
• Offering amenities such as dining facilities, recreation areas, and medical services to ensure crew well-being.

• Increased offshore wind farm development has led to higher demand for accommodation vessels.
• Companies are investing in converting existing OSVs into specialized accommodation units to meet this demand.
• Regulatory requirements for worker safety and comfort are driving enhancements in onboard facilities.

• Chartering accommodation vessels provides a steady income stream for OSV operators.
• Long-term contracts with energy companies and construction firms offer financial stability.
• Enhanced onboard amenities can command premium charter rates.

• Repurposing existing vessels reduces the environmental impact compared to new constructions.
• Modernized accommodation vessels often incorporate energy-efficient systems and waste reduction measures.
• Supporting renewable energy projects aligns with global sustainability goals.

• HOS AchieverConverted into a floating hotel with accommodations for 267 personnel, featuring amenities like recreation areas and medical facilities.
• HOS RocinanteA 280-foot OSV transformed into a service operation vessel (SOV) with capacity for 90 personnel, supporting offshore wind projects.
• DP GezinaA former megayacht converted into a DP2 offshore support and accommodation vessel, offering high-quality living spaces for offshore workers.

Bottom line: The transformation of OSVs into floating accommodations addresses the growing need for comfortable and efficient housing solutions in remote offshore operations. This adaptation not only extends the service life of existing vessels but also supports the evolving demands of the offshore workforce.

As the global shift towards renewable energy accelerates, OSVs are playing a pivotal role in supporting offshore wind farm development and maintenance. Their adaptability makes them ideal for various tasks in the renewable energy sector.

• Transporting technicians and equipment to and from offshore wind turbines.
• Serving as platforms for installation and maintenance operations.
• Providing accommodations for crew during extended offshore assignments.
• Supporting cable laying and subsea infrastructure installation.

• Significant investments are being made in converting existing OSVs into Service Operation Vessels (SOVs) to meet the demands of the offshore wind industry.
• The construction of new hybrid SOVs is underway to enhance efficiency and reduce emissions.
• Collaborations between shipbuilders and energy companies are driving innovation in vessel design and functionality.

• Engagements in the renewable energy sector provide OSV operators with new and sustainable revenue streams.
• Long-term contracts with energy companies offer financial stability and growth opportunities.
• Participation in renewable projects enhances the marketability and reputation of OSV operators.

• Supporting renewable energy projects aligns with global sustainability goals and reduces reliance on fossil fuels.
• Utilizing existing vessels for renewable energy support minimizes the environmental impact compared to constructing new ships.
• Incorporating hybrid and electric technologies in vessel conversions reduces emissions and operational costs.

• HOS RocinanteA 280-foot OSV undergoing conversion into a hybrid Service Operation Vessel (SOV) to support the U.S. offshore wind market.
• Gateway EndeavorA Jones Act-compliant OSV converted into a Crew Transfer Vessel (CTV) for the U.S. offshore wind industry.
• Green JadeA crane vessel built to support the offshore wind industry, featuring a main crane capacity of 4,000 tonnes and accommodations for up to 160 personnel.

Bottom line: The adaptation of OSVs for offshore renewable energy support is a strategic move that not only extends the service life of existing vessels but also contributes to the global transition towards sustainable energy sources.

As the demand for sustainable seafood grows, offshore aquaculture has emerged as a viable solution to meet global needs. OSVs are being repurposed to support these operations, providing essential services in remote marine farming environments.

• Transporting feed and supplies to offshore fish farms.
• Supporting installation and maintenance of aquaculture infrastructure.
• Providing accommodations and facilities for aquaculture personnel.
• Assisting in monitoring and ensuring the health of farmed species.

• Growth in offshore aquaculture is driving demand for specialized support vessels.
• Shipyards are increasingly converting OSVs to meet the specific needs of marine farming operations.
• Technological advancements are enhancing the efficiency and sustainability of aquaculture support vessels.

• Engagements in offshore aquaculture provide OSV operators with new revenue streams.
• Long-term contracts with aquaculture companies offer financial stability.
• Participation in sustainable food production enhances the marketability of OSV operators.

• Supporting offshore aquaculture aligns with global efforts to promote sustainable seafood production.
• Utilizing existing vessels for aquaculture support reduces the environmental impact compared to constructing new ships.
• Incorporating eco-friendly technologies in vessel conversions minimizes emissions and operational costs.

• MV Helen RiceA former OSV converted into an aquaculture support vessel, providing services to fish farms in remote locations.
• MV Kallista HelenAn OSV adapted for aquaculture operations, supporting the installation and maintenance of offshore farming infrastructure.
• MV Eidsvaag OpalA platform supply vessel transformed into a fish feed carrier, delivering supplies to offshore aquaculture sites.

Bottom line: The adaptation of OSVs for offshore aquaculture and marine farming represents a strategic move towards sustainable food production. By repurposing existing vessels, operators can support the growing aquaculture industry while contributing to global sustainability goals.