Global Offshore Support Vessels Market Trends & Forecast (2018 - 2023) - ResearchAndMarkets.com
The "Global
Offshore Support Vessels Market - Growth, Trends, and Forecast (2018 -
2023)" report has been added to ResearchAndMarkets.com's
offering.
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.
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.
When counting all asset sizes (i.e., including low-end tonnage), the
Southeast Asian market is the largest OSV market in the world. The Asian
OSV market has been negatively impacted by continued high-supply growth
within the region. As a result, the utilization and day rates of OSV in
the region have been under pressure. The market is dominated by local
vessel owners and locally flagged ones and is highly competitive.
Companies Mentioned
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Bouygues S.A.
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British Petroleum
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China Petroleum and Chemical Corporation
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Exxon Mobil Corporation
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Icopal Group
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Indian Oil Corporation
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JX Nippon Oil & Energy Corporation
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Kraton Corporation
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Marathon Oil Company
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NuStar Energy
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Nynas AB
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Petroleos Mexicanos
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Shell Bitumen
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Suncor Energy Inc.
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Industry Attractiveness - Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
11. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/research/r7p79f/global_offshore?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20180425005781/en/
Copyright Business Wire 2018
Source: Business Wire
(April 25, 2018 - 7:39 AM EDT)
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