The oil price stabilized and the amount of dismantling exploded. Seaborne activities in major areas began to be active and the offshore ship market finally came to light. And China’s offshore shipyards have finally passed the darkest moments and saw a bright light.
VesselsValue data shows that since the beginning of this year, the amount of dismantling of offshore support vessels (OSV) has grown rapidly. Up to now, 43 OSVs have been sold and dismantled this year. In the first three months of 2017, the number of scrapped OSVs was only 17, which was a year-on-year increase of 153%. pipe fittings
Charlie Hockless, head of VesselsValue's offshore engineering department, said that no one expected the offshore market to be so sluggish in recent years, but the number of idle boats is one of the main reasons. During the first two years of the market downturn, the shipowners resisted ship-breaking, but with the changes in the market, the attitude of shipowners has changed. Compared with 2017, the number of shipbreaks in the first three months of the year has increased significantly.
At the same time, MarketsandMarkets recently released a report showing that the global marine support ship (OSV) market will grow, specifically from the market value of approximately 20.06 billion US dollars in 2018 to a value of 25.66 billion US dollars in 2023. pipe spooling
The report pointed out that the continued maritime activities in the United States, China, Brazil and the North Sea have all contributed to the growth of the OSV market, with a compound annual growth rate of 5.04%. Offshore exploration and production investments in the Middle East and Asia Pacific play an important role in these increases.
In the 2018 OSV market, the AHTS is expected to occupy the largest proportion, while the MPSV is the fastest growing ship. As the price of oil stabilizes, the demand for offshore drilling activities will slowly recover, especially in deep-water oil and gas fields, which will help the triple-use workboat market.welding overlay
Shallow water is the fastest growing market and will dominate over the next few years. In terms of market value and growth, OSV applications for shallow water will lead the market. Shallow water basins in Asia Pacific, Europe and North America will play a major role in driving the development of the OSV market.
In terms of market value, the Asia Pacific region will be the largest OSV market in 2018, thanks to China’s drive. Stable oil prices have already enabled oil and gas operators to increase their development and investment in China's offshore market. The OSV market in North America and the Middle East will also grow in the coming years as these regions will focus on the development of offshore resources to replace mature onshore oil and gas fields.