Spacer
News
News > Strong Recovery in Subsea Vessel Demand

Strong Recovery in Subsea Vessel Demand

  18/08/2011
Market researcher Douglas-Westwood, UK, forecasts strong recovery in vessel demand. The World Subsea Vessel Operations Market 2011-2015 details expenditure set to grow 52%, totalling USD72bn between 2011 and 2015. Lead author, Simon Robb, commented, "Project timetables are accelerating as confidence returns to the industry, with a shift to larger and more complex deepwater projects. Projects are increasingly capital intensive, which is benefitting offshore contractors with the capability and expertise to provide deepwater services.
 

Offshore support vessel"Global vessel demand for Subsea Vessels is expected to climb beyond 310,000 days for the forecast period 2011-2015 - a 28% increase on the previous five years. Robust growth is expected, with annual expenditure set to rise from USD11.2bn in 2011 to USD19bn by 2015."

 

Ian Jones, contributing author, continued, "By 2015, there will be a move towards more complex deepwater projects being sanctioned and this should benefit the vessel contractors with deepwater capability and engineering experience. The number of vessel days in deep waters is set to increase by more than 50% over the next five years. Deepwater awards will suit contractors with modern vessels fleet, effective project execution skills and a track record in delivering deepwater projects."

 

The deepwater ‘Golden Triangle' is expected to account for 54% of global expenditure over the forecast period. Africa will remain the largest single market by expenditure with over USD13.7bn required over the next five years. Despite a dip in activity in North America during 2011-2012, due to the economic crisis and the fallout from the Deepwater Horizon incident, vessel expenditure is expected to total almost USD13bn. This is a 21% increase on the previous five years. Latin America is expected to be the third largest market - driven directly by Petrobras' long-term deepwater and ultra-deepwater strategy. The Asian and Australasian regions are both expected to witness strong vessel expenditure growth over the next five years.

 

The comprehensive report focuses on the demand for vessels used by operators around the world for their subsea field development & construction projects, inspection, repair & maintenance (IRM), well intervention and plug & abandonment activities providing detailed demand and expenditure analysis by region. The report looks at the main factors that are driving vessel day demand for ROVSV, DSV, Flexlay, LWIV and Pipelay vessels and provides supporting information analysing specific sectors within each key subsea sector. Market supply and vessel day rates are also discussed, providing the reader with a comprehensive understanding of the key trends involved in shaping the requirement for subsea vessels.

 

 




Read more about:
 Offshore  Construction  vessel 

Supplier: Douglas Westwood Ltd

More news from this supplier:
Size of ROV Support Market to Double
Emerging Markets Deep Drilling
Douglas-Westwood in Singapore
USD139 Billion to be Spent on Subsea Hardware
Wave & Tidal Spend Towards USD1.2 billion
ROV World Market Restores
Global Offshore Spending Forecast 2004-2013
World Offshore Wind Market 2009-2013
Offshore Drilling Spend on the Rise
World Wave and Tidal Market


Manufacturing Agreement BetweenTriton Imaging and Applied Acoustics
Open Style Training Courses Around The World
Eiva Course at Install Academy Completed
Seatronics Invests for ROV Tooling Rental Market
NOAA Begins 180th Hydrographic Survey Season
Two Edgetech 6205 for Survey Equipment Services Katy
Sensor Fusion Applications at EGU 2014
Queen’s Award for Sonardyne 6G
Forward Looking Sonar Upgrade
2014 Global ADCPs in Action User Conferences


   


comments powered by Disqus
Top News
Upcoming Events
Spacer
Spacer
Bob Allwood (SUT) on the UUVS Conference

The UUVS 2014 conference featured speakers from Woods Hole Oceanographic Institution, Fugro, Kongsberg Maritime, Teledyne Gavia, Bluefin Robotics, SeeByte and many more. Bob Allwood, CEO of the Society for Underwater Technology (SUT) gives an overview on the outcomings of the conference and developments in the past time.

 

 

Spacer
Last 3 items:
Spacer
Spacer
Last Comments
Spacer
Spacer
Spacer
Spacer
Spacer