The second edition of the Global Perspectives Specialist Vessel Market Update To 2014 was published by Infield Systems today. This new report is designed as a knowledge gathering tool and provides analysis into each key vessel market: pipelay, heavy lift and IRM. The report presents additional granularity for enhanced competitor overviews, dayrate analysis and technical assessments and provides key metrics for industry professionals and analysts.
This is one of several market reports covering the offshore oil and gas and associated marine industries from Infield's series of Global & Regional Perspective Market Update Reports.
The Specialist Vessels Market:
The year 2009 was characterised by falling utilisation and dayrates across many sectors of the specialist vessels market as project sanctioning dried up and operators sought to squeeze their supply chains. Against this gloomy backdrop we saw the delivery of several large newbuild assets, the cancellation of others, and a lack of new construction announcements. The Specialist Vessels Market Update To 2014 brings these developments into focus and provides in depth analysis into regional activity across each major sector of the industry.
Over the coming years a recovery is expected to take place in the offshore market. A number of deepwater tie back developments are likely to be installed between 2010 and 2014 which will be joined by heightened activity in basins such as South East Asia, Brazil and West Africa. Further growth is planned in frontier regions including the West of Shetlands. These serve as an opportunity for vessel operators with assets capable of working within such demanding conditions.
Taking a bottom-up approach to the market, the report covers pipelay, heavy lift, multi-service and dive support, accommodation, well intervention, pipe burial and trenching and anchor handling assets. The report covers dayrate and utilisation figures as well as a granular approach to supply and demand. The report highlights where there are perceived supply contentions and analyses the severity of the gaps and inversely, excesses in the market.
The supply of construction and support assets is vital in the field development stage of an offshore project. From the largest combination heavy lift and pipelay vessels, to the prominence of low end assets found in South East Asia, the report covers each by isolating specific scenarios of supply and demand. Furthermore, where relevant, a discussion on local Cabotage rulings is provided. The Specialist Vessels Market Update To 2014 has been prepared as a broad overview of the offshore installation and IRM markets, with added detail where appropriate. By offering an overview of each specific sector the second edition of the report provides the most up-to-date, in-depth and detailed overview of the offshore construction market.
Report Contents:
Summary and Conclusions provides a concise and comprehensive executive overview of the complete market sector by reviewing the full text and providing a succinct reference guide to the complete report as well as giving an overview of the methodologies used
Macro Overview reviews the drivers behind the offshore industry, including such issues as the effects of the credit market turmoil, the reactions of oil companies and oil services, an outlook on offshore frontiers and the potential impact of game changers including unconventional gas and frontier regions of exploration
Offshore Pipelay covers a full region by region account of the pipelay market. Specific projects are highlighted as well as key contracts and assets working in the market. Supply and demand are presented before a conclusion on forecasted dayrates and utilisation figures for a range of vessel classes. Analysis is provided on regional demand, broken down by country, water depth and lay diameter. The section covers Capex, length of line laid and the vessel days required for installation. Further analysis is provided through an overview of key players
Offshore Heavy Lift provides an analysis into the installation of platforms, seabed equipment, single point moorings and the removal of existing platforms. Supply and demand is presented region by region, covering water depth and specific country dynamics and a full overview of the capabilities of the fleet is discussed. The section concludes on a market outlook for dayrates and utilisation. Specific heavy lift case studies are provided in order to give additional granularity into the market, with contracts isolated to provide information on which operator has a hold in each region
Multifunctional Vessels and Additional Markets firstly covers the supply and demand dynamics for multi-service and dive support vessels. Demand for inspection, repair and maintenance is analysed as well as construction support on a region by region basis with each section covering the likelihood of this demand materialising. The global supply of multi-service and dive support vessels is broken down by region, water depth capability and vessel type. There is also analysis into dayrates and utilisation for multi-service and dive support vessels. The additional markets covered include the accommodation, subsea well intervention, pipe burial/trenching and anchor handling sectors
Appendices and Notes are included at the close of the report to give the reader further understanding of the unique models and how they are used to compile the report. Further information is provided upon the references used in the origin of the unique intervention model. A full reference list is provided as are a number of unique maps showing field development across the seven key offshore regions of the world