Press release
Offshore Support Vessel Market Revenue & Growth Analysis By Top Manufacturers - eacor Marine, Bourbon, Farstad, Swire, Gulfmark, Hornbeck, Tidewater, Havila Shipping, REM Maritime
In 2016, Petronas' first FLNG unit began operation with 1.2 mtpa of processing capacity at the Kanowit deep-water reservoir in Malaysia.
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Norway offshore support vessel market is anticipated to exceed 400 OSV fleet on account of new oilfield discoveries along with strong order book of country's shipyards to cater the oil & gas industry. As per the U.S. EIA, 7% of the world offshore oil production was produced from Norwegian fields in 2016.
Shifting trends toward ecofriendly hydrocarbons on account of growing environmental concerns will fuel the offshore support vessel market. Adoption of LNG by major fleet owners as a fuel subjected to the government norms toward reduction of marine emissions will foster the product penetration. In 2015, International Maritime Organization (IMO) implemented a legislation to reduce NOx content in fuel to 0.5% for the fleets in emission control areas.
Offshore Support Vessel Market, By Product
By Vessel
• AHTS
• Water Depth
• Fuel
• PSV
• Water Depth
• Fuel
• FSV
• Water Depth
• Fuel
• MPSV
• Water Depth
• Fuel
• Others
• Water Depth
• Fuel
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Availability of resources and untapped oil fields coupled with large ongoing projects favored by matured industry & low-risk investment will positively influence the U.S. offshore support vessel market. A manned tripod structure is planned to be installed with production capacity of 4,500 bbl of oil per day and 5 Mcf of gas per day in the U.S. Gulf of Mexico by end of 2017.
Increasing drilling activities coupled with new subsea exploration & production projects will fuel the Saudi Arabia offshore support vessel market. The country has several huge oil and gas fields including Safaniya oilfield that produces 1.1 to 1.5 million bbl/d and holds around 13% of the total world offshore oil production. Brazil offshore support vessel market is anticipated to witness significant growth owing to predominant expansion of pre-salt deep-water projects coupled with positive outlook towards subsea upstream exploration and production.
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Key players in the offshore support vessel market include Seacor Marine, Bourbon, Farstad, Swire, Gulfmark, Hornbeck, Tidewater, Havila Shipping, REM Maritime, Maersk, Siem, Vroon, Edison Chouset, Solstad, Harvey Gulf and Island Offshore.
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