offshore support vessel

Damen develops new OSV concept vessel

Following calls for great vessel versatility offshore, Damen Shipyards has developed a new concept vessel – the Offshore Support Vessel (OSV) 9020. It features a stable platform with lots of accommodations, good

Jackup rig values rise on oil recovery

JANUARY 26, 2018 —Rising oil prices have increased interest in secondhand for jack-up rigs, pushing asset values up 36 percent from a year ago, according to data compiled by VesselsValue. VV’s Fixed

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Inmarsat bolsters communications support for OSV market

JANUARY 23, 2018—When it comes to reliable, high-speed connectivity in the maritime sector, offshore support vessel operators need flexible communications plans. When on hire, the appetite for bandwidth from offshore support vessels

Sinopacific delivers its first Mexican market PSVs

DECEMBER 29, 2015 — China’s Sinopacific Shipbuilding Group reports that its Zhejiang Shipyard has delivered three SPP17A platform supply vessels to the Mexico’s Naviera Petrolera Integral S.A. de C.V. The three PSVs

Report projects OSV demand will grow 75% by end of 2020

That’s heartening news for Offshore Support Vessel (OSV) operators such as Tidewater, Edison Chouest, Bourbon, Hornbeck Offshore, Seabulk and Maersk, which are dealing with the current challenging offshore oil and gas market. In a presentation at the recent Johnson Rice 2015 Energy Conference, Tidewater reported it had 38 vessels stacked as of the end of June. It has also announed plans to scrap 11 older vessels.

In its most recent monthly report, Baker Hughes reported that there were 29 drilling rigs operating in the Gulf of Mexico, down from 59 a year ago.

 Mordor Intelligence’s report, the Global Offshore Support Vessel Market, focuses on the market sectors by vessel type, including Anchor Handling Tug/Anchor Handling Towing Supply Vessels (AHT/AHTSs), Multi-Purpose/Multi-Role Supply Vessels (MPSV), Platform Supply Vessels, Construction Support Vessel (CSV), Specialty Vessels and others. It also breaks down activity by region: North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA). The report analyzes and projects the market share of each region for the next 5 years.

Most promising regions for OSV market are the Gulf of Mexico, Brazil, West Africa, the North Sea, South East Asia, the Middle East and Asia. Mordor Intelligence estimates that major part of the demand will be for AHTS, PSVs, and seismic research vessels.

As oil and gas explorations move towards deeper waters, explains Mordor Intelligence, multi-functional offshore support vessels are now called upon to perform different tasks, and have created various niches or categories within the market. Present day offshore support vessels are equipped with increased cargo capacity, panoramic navigation bridge visibility, large accommodation spaces, enhanced crew amenities and state-of-the-art propulsion and automation systems.

According to Mordor Intelligence, AHTS vessels comprise a 56% of the market share, followed by Platform Support Vessels. Inspection, Maintenance and Repair (IMR) Vessels are generally equipped with large accommodation spaces, heavy lift cranes, helidecks and streamlined bow forms for operation in harsh environments. Vessels specialized for multi-tasking carry out maintenance and repair operations on platform facilities, as well as subsea pipelines and equipment.

 

Tough quarter for Tidewater

AUGUST 11, 2015—Amid the challenging oil market conditions, offshore support vessel owner Tidewater Inc., New Orleans, LA, reported a first quarter net loss for the period ended June 30, 2015, of $15.1

GulfMark Offshore stock under pressure

FEBRUARY 18, 2015—In what is expected to be a challenging year for offshore support vessel operators, investment banker Cowen and Company has put out a “Market Perform” rating on the shares of

Island Offshore orders another at Vard

OCTOBER 3, 2014 — Island Offshore, in which the Chouest and Ulstein families are partners, has placed an order with shipbuilder Vard for an 86 m x 18.5 m offshore support vessel.