ROV Work-Class Operations Expenditure to Grow 80%

Marinelink.com
Wednesday, October 09, 2013

From 2013 to 2017 Douglas-Westwood (DW) forecast total ROV operations expenditure of approximately $9.7 billion (bn), an increase of nearly 80% over the previous five-year period ($5.4bn) in this sixth edition of the World ROV Operations Market Forecast.
 


Author, Kathryn Symes, commented, “Drilling support accounts for three-quarters of expenditure between 2013 and 2017, and is expected to increase over the period by 13%. DW forecast almost 527,000 days of ROV drilling support in the next five years, of which the majority is made up of work on exploration & appraisal wells. Expenditure on construction support accounts for a fifth of ROV operations, with repair & maintenance accounting for the remaining.


 
“Africa is forecast to experience strong demand from subsea development (DV) wells, driven by the discovery of new deepwater provinces offshore East Africa, and will remain the largest region, followed by Latin America and then Asia.

 

The Middle East has the lowest ROV spend, and along with Norway will see decline in spend. Latin America is set to show the strongest growth of all regions.”


 
Report editor, John Westwood, concluded, “As operators look to increase the profitability and efficiency of their subsea developments, there will be a surge of demand for exceptionally powerful work-class ROVs, able to perform the support work needed in an industry where new technologies and processes are vital.


 
“The move to ever deeper waters will drive demand for work-class ROVs and manufacturers will have to produce high specification models capable of performing at greater depths. Smaller manufacturers may find there are opportunities for them to move from the production of inspection class and light work-class ROVs into the market for heavy-duty work-class ROVs.”
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Raytheon Anschütz Opens Service Center in Panama

German navigation system manufacturer Raytheon Anschütz has established its new subsidiary Raytheon Anschuetz Panama, S. de R.L., in Panama City.   The new company,

ISS Palumbo UK Acquires Union Transport

ISS Palumbo UK, part of maritime services provider Inchcape Shipping Services (ISS), has acquired U.K. freight forwarding specialist Union Transport (Newcastle) Ltd.

Marquette Transportation Reportedly for Sale

Marquette Transportation Company LLC, a U.S. towboat operator, is exploring a sale that could value it at more than $1 billion and has attracted the interest of

News

New Survey Vessel Ordered for the Port of London

The Port of London Authority (PLA) has ordered a new purpose-built survey catamaran, a CTruk MPC19, due to enter service on the river Thames later this year.   The

Raytheon Anschütz Opens Service Center in Panama

German navigation system manufacturer Raytheon Anschütz has established its new subsidiary Raytheon Anschuetz Panama, S. de R.L., in Panama City.   The new company,

ISS Palumbo UK Acquires Union Transport

ISS Palumbo UK, part of maritime services provider Inchcape Shipping Services (ISS), has acquired U.K. freight forwarding specialist Union Transport (Newcastle) Ltd.

Vessels

New Survey Vessel Ordered for the Port of London

The Port of London Authority (PLA) has ordered a new purpose-built survey catamaran, a CTruk MPC19, due to enter service on the river Thames later this year.   The

Imabari to Construct Newbuilding Dry Dock

In order to accommodate construction of Ultra-Large newbuilding vessels including recently secured 20,000TEU Mega container ships (about 400m in length and about 59m breadth),

Long Beach Port to Boost Power, Speed Clearance

Port of Long Beach Chief Executive Jon Slangerup on Thursday unveiled ambitious plans for congestion-beating smart systems for cargo movement and an all-out

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.8883 sec (1 req/sec)