Market Overview

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)"

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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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