Offshore Supply Vessel Global Market – Overview:-
Offshore supply vessels are majorly used for providing services to oil and gas offshore drillings rigs, pipe laying activities, and exploration activities. The offshore support vessels enable and support oil and gas logistics and other activities in the upstream processes. Typically, offshore support vessels have their own features and properties with regards to the different type of operations they are used for. Furthermore, offshore support vessels provide operations such as transportation, standby capacity, anchor management, and platform support. It also helps in the mobility of crew members to offshore sites. With recent increase in oil and gas prices and burgeoning offshore oil and gas exploration activities the offshore supply vessels market is expected to witness a growth.
Globally, the market growth is attributed to the increasing focus on oil & gas production at offshore fields. On the other hand, the aging offshore oil and gas infrastructure leading to replacement and decommissioning offers lucrative opportunities for market players in the coming five years especially in the North Sea and the Gulf of Mexico region.
Top Key Player:-
- Seacor Marine
- SIEM Offshore
- Grupo CBO
- Solstad Farstad
- Swire Group
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In April, 2018 – DOF based in Norway is further expecting the cost of renting offshore supply vessels (OSVs) to rise as the rates for hiring specialized vessels, which include platform supply, diving support (DSV) and anchor-handling vessels, have increased in the last year. The company has been recently awarded a three-year contract from Petrobras, Brazil for offshore supply vessel operations.
In May, 2018 – A string of deep-water discoveries in the Caribbean has triggered a torrent of activity in the offshore supply industry. In 2015, massive oil reservoirs were discovered off Guyana in the Liza field that put the Caribbean back on the exploration map and since then other discobveries have followed in quick succession.
Global Offshore Supply Vessel Global Market – Segmentation:-
The scope of global Offshore Supply Vessel market is segmented into four major segments which are explained below:
- By Type
- Anchor Handling Tug Supply Vessel (AHTS)
- Platform Supply Vessel (PSV)
- Multipurpose Support Vessel (MPSV)
- Standby & Rescue Vessel
- Crew Vessel
- Seismic Vessel
- Chase Vessel
- By Application
- Shallow Water
- By End-Use Industries
- Oil & Gas
- Offshore renewable
- By Regions
- North America
- Asia Pacific
- Rest of the World
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Asia pacific is one of the leading region for growth in offshore development. Geographical factors has fueled the growth in offshore market. Moreover, China, Thailand, India, Malaysia, and Indonesia are mainly driving the growth of the offshore support vessel market in the APAC region. Additionally, equipped with increased cargo capacity, panoramic navigation bridge visibility, large accommodation spaces, enhanced crew amenities and automation system are booming the market in Asia pacific.
The increase in global oil & gas production from North America and the Middle East has shifted the focus of operators towards offshore markets. Secondly, liberalization of the Mexican oil & gas industry is another key driver fueling the demand for offshore supply vessels.
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