Offshore Support Vessels Market 2020 Global Competition and Business Growth- Harvey Gulf International Marine, LLC, Solstad Farstad ASA, Hornbeck Offshore Services

The report presents an in-depth assessment of the Global Offshore Support Vessels including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Offshore Support Vessels investments from 2019 till 2023.

The Global Offshore Support Vessels market is highly competitive and consists of a number of major players. Companies, like Bourbon Corporation SA, Maersk Supply Services, A/S, SEACOR Holdings Inc., Edison Chouest Offshore, LLC, Swire Pacific Limited, Tidewater, Inc., Harvey Gulf International Marine, LLC, Solstad Farstad ASA, Hornbeck Offshore Services, Inc., GulfMark Offshore, Inc. among others.

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Scope of the Report:

The offshore industry has been through one of the worst crises in history over the past three years, and hence, all the companies in the offshore support vessel market (OSV) have been severely affected. Exploration and production (E&P) companies have reduced their rig counts drastically, causing demand for OSV services to plunge. Excess rig capacity has hit platform supply vessels (PSVs) and anchor-handling tug supply (AHTS) vessels the hardest. For the next few years, OSV firms are likely to have to confront their new reality: lower demand, shorter charter contracts, and reduced day-rates. However, as the oil price has doubled since reaching the bottom in January 2016, the OSV market is expected to move into recovery stage during the forecast period. Rates and utilization are expected to continue being passive during the financial year 2018, as the oversupply of vessels in the market tempers any near-term recovery; however, conditions in the medium-term are expected to improve.

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Key Market Trends:

Increasing Offshore Decommissioning Activities Driving the Market

With the drop in oil prices, many of the offshore production platforms have turned uneconomical, and are expected to be decommissioned. Many offshore oil & gas fields, particularly in the Gulf of Mexico and North Sea regions, are approaching their maturity. Therefore, the number of production platforms operating in these fields is expected to be decommissioned in the near future. With the drop in OSV day rates after oil price crisis, decommissioning activity has become cheaper, and hence, some platforms of decommissioning projects, which were delayed in the past, are being reconsidered. There are around 2,189 estimated existing platforms on the outer continental shelf (OCS) of the United States, as of September 30, 2017. Of this, approximately 30% of the platforms are non-producing and need decommissioning. Similar decommissioning activities are expected to be needed in other offshore oil & gas regions as well. The demand for OSVs is expected to further increase from the same, during the forecast period.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Global Offshore Support Vessels Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

Finally, Global Offshore Support Vessels Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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– The market estimate (ME) sheet in Excel format

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– 3 months of analyst support

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