Douglas-Westwood's (DW) World Subsea Vessel Operations Market Forecast
2012-2016 builds on the success of the first edition to include a more
comprehensive supply-side competitive landscape with major players and their
fleets, broken down by vessel type and geographic focus. Day rate analysis by
vessel type has been fully reviewed and updated.
NEW report style with enhanced analysis and speed-read summaries of key
points throughout
DW forecast that between 2012 and 2016 $77bn will be spent on subsea vessel
operations in field development, inspection, repair & maintenance (IRM) and
subsea well intervention. This is an increase of 63% over the preceding
five-year period, with global vessel demand for these markets expected to
increase 33%.
This strong growth is a result of confidence returning to the subsea industry,
a move towards deep water in underdeveloped regions and towards ultra deep in
those already developed, and the subsequent increased demand for higher
specification vessels required for these operations.
The World Subsea Vessel Operations Market Forecast 2012-2016 analyses the main
factors driving demand for ROVSV, DSV, Flexlay, LWIV and Pipelay Vessels. The
new edition contains:
Market forecasting & field prospect data - the report uses a unique
market model specifically developed in collaboration with leading subsea
industry participants. Based on the DW proprietary databases covering vessels
and offshore oil and gas developments, the report includes a market forecast
with an unmatched level of detail and presents analysis based on unique data.
Macro-economic indicators - a review of those influencing subsea
markets including growing global energy demand and oil consumption, oil supply
pressures, the role of deepwater, oil & gas prices drivers & forward
assumptions and E&P expenditure.
Vessel fleet supply-side analysis - global vessel supply trends for
DSVs, ROVSVs, Flexlays, Pipelays and LWIVs with historic vessel deliveries
from 1965-2012 and vessel supply expressed in total vessel days, split by type.
Comprehensive analysis - of vessel demand for key subsea sectors
from 2007-2016. Expenditure and vessel day demand broken out by field
development, IRM and well intervention.
Regional analysis - expenditure and vessel demand by market with
trend commentary and speedreads for Africa, Asia, Australasia, Eastern Europe
& FSU, Latin America, Middle East, North America, Norway, UK and Rest of
Western Europe.
Why buy the report?
The World Subsea Vessel Operations Market Forecast 2012-2016 is an excellent
source of information for those seeking a timely update on this dynamic and
rapidly changing industry. Geared to senior executives' needs, the report
assumes no previous knowledge of the subject area. The report provides the
reader with a comprehensive understanding of the key trends involved in
shaping the requirement for subsea vessels.
Concise report layout - industry background and supporting materials
condensed to enable quick review
The report is essential for financial institutions, equipment manufacturers,
offshore engineering, construction, operations & maintenance companies and
contractors, drilling operators, oil & gas companies and agencies & government
departments wanting to make more informed investment decisions.
Table of Contents
Table of Contents
Executive Summary & Conclusions
Market Expenditure Summary
Global Vessel Supply & Demand
Macro-Economic Overview
Global Energy Supply & Demand
Move to Offshore
Role of Deepwater
Oil & Gas Price Drivers and Forward Assumptions
E&P Expenditure
Definitions & Terminology
Markets
Vessel Tasks & Definitions
Vessel Activity by Type
The Vessel Fleet
Global Vessel Supply
Supply Side Market Trends (DSVs, ROVSVs, FLEXLAYs, PIPELAY and LWIVs)
The Subsea Vessel Operations Market Forecast
Model Summary
The World Subsea Vessel Operations Market;
By infrastructure type: Market overview and drivers with a
breakdown of key infrastructure: installations and population of subsea trees,
fixed & floating platforms and length (km) of pipelines in 2012 and 2016.
Expenditure and vessel day demand: broken out by field development,
IRM and well intervention activities 2007-2016 for each of DW's ten regions:
Africa, Asia, Australasia, Eastern Europe & FSU, Latin America, Middle East,
North America, Norway, United Kingdom, Rest of Western Europe
World Subsea Vessel Operations Market Forecast 2012-2016 published by Douglas-Westwood in August 23, 2012. This report price starts from US $ 4634.
The contents of this page may be different from the latest version. Please contact us for details.
Press Release
Strong Growth in Subsea Vessel Operations Driven by Shift to Deepwater, Deepwater "Golden Triangle" to Account for 34% of Global Expenditure to 2016
August 24th, 2012
Global Information Inc. would like to present a new market research report, "World Subsea Vessel Operations Market Forecast 2012-2016" by Douglas-Westwood.
Between 2012 and 2016, some $77bn will be spent on worldwide subsea vessel operations, according to new research from energy business advisors Douglas-Westwood (DW). This represents an increase of 63% over the previous five-year period. Subsea vessel demand is expected to total 326,500 days - a 33% increase - and annual expenditure nearly double, from $11.3bn in 2012 to $20.3bn by 2016. These are amongst the findings presented in the new 2nd edition of DWs World Subsea Vessel Operations Market Forecast 2012-2016.
Report author, Joseph Corrigan, commented, "The move towards deep water in underdeveloped regions, and ultra-deep in developed ones, is driving an increase in vessel demand. Greater competition for high-capability vessels is causing inflation in dayrates and driving up market value.
"By 2016, there will be more complex deepwater projects sanctioned and this should benefit the vessel contractors with deepwater capability and engineering experience. Deepwater awards will suit contractors with modern vessel fleets, strong project execution skills and a solid track record in delivering deepwater projects.
"Between 2006 and 2012, 169 vessels entered the market, increasing capacity by 60% to 446 vessels operated by 83 contractors - a highly fragmented and competitive supply chain. Saturation of the market is now evident for some vessel categories, but high demand continues for others.
"The deepwater Golden Triangle of West Africa, Gulf of Mexico and Brazil is expected to account for 34% of global expenditure over the forecast period. Latin America is forecast to be the largest market with spend of $14bn during 2012-2016 - an increase of 94% on the previous five year period. The North American market has now recovered following a dip in activity during 2011-2012 - due to the economic crisis and the fallout from the Deepwater Horizon moratorium. North American expenditure is expected to total almost $13bn making it the worlds second largest market. This is a 23% increase on the previous five years ($10.3bn)."
Report editor, Thom Payne, at DWs Singapore office adds, "The general outlook for the subsea vessels market shows long term growth potential and a very sizable business opportunity. Despite this the market will retain its long-term cyclicality as vessel owners over-react to the up-cycles. The best vessels will, however, always find a market and niche-players will continue to thrive in any downturn. As with any cyclical industry, taking a long-term view and careful timing of asset investment is therefore essential."
DW suggest that even more market opportunities for subsea vessels lie beyond the timeframe of their report, including the major pre-salt developments offshore Brazil and potentially West Africa, the prospects in the eastern Mediterranean and for the commercially brave the ultimate subsea challenge - the Arctic.
