April 25, 2018 - 7:39 AM EDT
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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

  • Bouygues S.A.
  • British Petroleum
  • China Petroleum and Chemical Corporation
  • Exxon Mobil Corporation
  • Icopal Group
  • Indian Oil Corporation
  • JX Nippon Oil & Energy Corporation
  • Kraton Corporation
  • Marathon Oil Company
  • NuStar Energy
  • Nynas AB
  • Petroleos Mexicanos
  • Shell Bitumen
  • 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

Laura Wood, Senior Manager
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Related Topics: Maritime

Source: Business Wire (April 25, 2018 - 7:39 AM EDT)

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