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AHTS Vessels Gain Upper Hand, Ensuring Consistent Expansion of Global Offshore Support Vessel Market

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Published on : Apr 04, 2017

Albany, New York, April 04, 2017: The report offers key insights on the current developments, drivers, challenges, and opportunities in the global market for offshore support vessels. The market shares, product portfolios, and major business strategies of the market players have also been discussed in the report. 

Offshore vessels are sea vessels that are used in the transport of goods, crew, supplies, and cargo, along with the off-shore exploration of oil reserves.  As oil and gas companies across the globe are increasingly using offshore support vessels for oil exploration and production activities, the demand for offshore support vessels will rise to a great degree. These vessels are being deployed by industries such as manufacturing, transportation, and power and energy. Of these major end-user industries, transportation is likely to represent the largest share in the global market. On the other hand, the declining demand for diesel might restrict the growth of the market. However, the reduction in the cost of crude oil might create considerable opportunities for expansion.

By type, platform supply vessel (PSV), multi-purpose service vessel (MPSV), anchor handling tug supply vessel (AHTS) vessel, and fast support intervention vessels (FSIV) are the key segments of the global market for offshore support vessels. Of these, the AHTS vessel segment dominated the market during 2016. The segment might continue to keep progressing, securing the headmost position at the end of the forecast period as well. These vessels are deployed in the towing and tugging of oil rig platforms and ships. Possessing high resistance to extreme weather, the AHTS vessels assist in the careful positioning and installation of oil rigs at particular locations in the ocean. They are also apt at aiding deep-water anchor handling and tanker loading activities. Europe, the Middle East, and Africa (EMEA) and North America are exhibiting increased use of these vessels, promoting the expansion of this segment. 

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By geography, Asia Pacific (APAC), Europe, the Middle East, and Africa (MEA), and the Americas are the key segments of the market discussed in the report. Driven by flourishing off-shore projects in countries such as India and China, Asia Pacific emerged as the leading regional market in 2016. Analysts expect the region to continue to have an upper hand during the forthcoming period too. 

The competitive landscape of the global offshore support vessel market is highly fragmented. Some of the key players operating in the global market for offshore support vessels are Swire Pacific Offshore Operations, Edison Chouest Offshore, Tidewater, BOURBON, SEACOR Holdings, ABG Shipyard, Island Offshore Management, Pacific Richfield, Gulfmark Offshore, Topaz Energy and Marine, Zakher Marine, Simon Møkster Shipping, OGX, KG Offshore Services, Hornbeck Offshore, Rem Maritime, Intermarine, EMAS, Deep Sea Supply, Harvey Gulf International Marine, Eastern Shipbuilding, Maersk Supply Service, and Gulfmark Offshore.

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