August 20, 2018 - 6:34 AM EDT
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Global Self-elevating Offshore Support Vessels Market 2018-2023 - ResearchAndMarkets.com

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The "Global Self-elevating Offshore Support Vessels Market - Segmented by Application & Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

Due to the wide range of applications, the demand for self-elevating offshore support vessels remained high, despite the fall in crude oil prices after mid-2014. As a result, the offshore support vessels (OSVs) operators are aggressively expanding their self-elevating offshore support vessels fleet. Since 2014, major offshore support vessel builders, such as Keppel and Triyards, have received more orders for self-elevating offshore support vessels than any other type of OSVs.

After the oil price crisis in 2014, the offshore oil & gas activity has declined significantly. During 2014-2017, the average annual offshore rig count declined by around 41%. Decreasing offshore activity has had an adverse impact on demand for offshore support vessels. Moreover, the day rates for the offshore support vessels, like Platform Support Vessels (PSVs) have declined by about 30% globally during 2014-2017.

On the other hand, the day rates for self-elevating support vessels remained stable during the same period. The utilization rates for the self-elevating vessels have also remained high. For example, since 2014, the self-elevating support vessels in Gulf of Mexico region have registered an average utilization rate of around 95% indicating high demand and a shortage of self-elevating support vessels.

The main reason for high utilization rate is a wide range of applications of these vessels. Due to this reason, many offshore vessel operators are moving towards the self-elevating support vessels instead of traditional platform support vessels.

Notable Developments in the Market

  • February 2018: SEACOR Marine Holdings Inc. and Montco Offshore LLC announced the formation and capitalization of the new joint venture. According to the new joint venture, both companies will contribute some of the self-elevating support vessels and other related assets.

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

  • SEACOR Holdings Inc.
  • Swire Pacific Limited
  • Hercules Offshore Inc.
  • Montco Offshore Inc.
  • Vahana Offshore Sdn Bhd.
  • All Coast LLC
  • Elevating Boats LLC
  • Mitchell Lift Boats LLC
  • Baoham International Pte Ltd.
  • Halul Offshore Services Company W.L.L.

10. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/qr6flr/global?w=4

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Related Topics: Maritime


Source: Business Wire (August 20, 2018 - 6:34 AM EDT)

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