Getting Offshore Fast: New Helicopter Market Forecast

By George Backwell
Friday, June 20, 2014
Offshore helicopter at work: Photo courtesy of Kvaerner

Douglas-Westwood (DW) forecasts $24 billion in expenditure on offshore helicopter services between 2014 and 2018, a 57% increase in comparison to the preceding five-year period. Western Europe will continue to account for the largest share of global expenditure, driven by both the extensive North Sea infrastructure and the preference towards using large helicopters.

Although Western Europe will continue to underpin the market over the forecast period, DW expect faster growth rates in Africa, Asia, Australasia and Latin America. A preference for local providers in some of these markets means that there are many regional specialists. As a consequence, the major helicopter operators have lower levels of participa- tion in these regions, with the notable exceptions of Brazil and Australia.

A major driver for growth in the offshore helicopter services market is the field development lifecycle. In the drilling phase, helicopter requirements are short-term requiring flexibility from the helicopter operator. In the production phase, long-term crew transfer support is required. As production continues to ramp up, particularly in deepwater regions, the drivers for a larger fleet of modern helicopters strengthen.

On a global basis the medium-type helicopter class accounts for close to 60% of total offshore helicopter service expenditure. Western Europe and Aus tralasia are exceptions, as buyers in these markets favour larger helicopters with increased range and carrying capacity.

Bristow and CHC remain the dominant players in the global market with activities in all key operating regions. These companies are focused on securing high value, long-term production support contracts. As a consequence the mature North Sea region continues to be their core market.

The next five years will be an important time for the industry as a new generation of medium-class helicopters such as the EC175 and AW189 are in- troduced. These models are highly efficient with the most advanced safety systems and are expected to perform well in the offshore arena.

However, due to the natural conservatism in the industry, it may take time before a critical mass of orders is achieved.

The full report is available for purchase via: www.douglas-westwood.com

Source: Douglas-Westwood, Energy Business Insight – World Offshore Oil & Gas Helicopter Market Forecast 2014-2018

 

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

People & Company News

Caltex Replaces Australian Crew

The 36 Australian crew members of an Caltex tanker refusing to set sail after they were told their jobs would be gone after the next run. MR tanker Alexander Spirit (40,

Mombasa Port Workers End Strike

Mombasa, Kenya port workers end strike and returned to work on Friday after being warned they could lose their jobs, reports Reuters.   However the members of

New Binding Law of The Sea Agreement Advanced

WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development The U.N.

Contracts

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

Fjords Processing Bags Johan Sverdrup Contracts

Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea.

Ocean Safety, Richard Irvin Marine Safety Merger

Ocean Safety has today announced the merger with Richard Irvin Energy Solutions Marine Safety Division and their Aberdeen branch.   This merger follows the

Offshore

Technip Samsung JV Wins 2 FLNG Project Contracts

The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome,

Fjords Processing Bags Johan Sverdrup Contracts

Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea.

Ocean Safety, Richard Irvin Marine Safety Merger

Ocean Safety has today announced the merger with Richard Irvin Energy Solutions Marine Safety Division and their Aberdeen branch.   This merger follows the

Finance

Grimaldi Orders Three PCTCs

After signing an order for the construction of five new ships two weeks ago, the Italian shipowner  Grimaldi Group has signed another contract for the construction

Caltex Replaces Australian Crew

The 36 Australian crew members of an Caltex tanker refusing to set sail after they were told their jobs would be gone after the next run. MR tanker Alexander Spirit (40,

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

Consulting

New Record Year in Dry Bulk Demolition Underway - BIMCO

The monthly average for the first six months in 2015 is 3.3m DWT. In 2014 the first half year averaged at 1.33m DWT per month.   April 2015 saw 5.36 million DWT being retired from active service,

BMT Awarded Port Geographe Coastal Engineering Contract

BMT JFA Consultants (BMT), a subsidiary of BMT Group,  has been awarded a contract by the Western Australian Department of Transport (DoT) to provide services as

Beier Radio is now Beier Integrated Systems

For 70 years, Beier Radio has provided engineering, sales, and service for marine electronics around the globe. As the corporation marks its 70th anniversary,

Offshore Energy

Technip Samsung JV Wins 2 FLNG Project Contracts

The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome,

Fjords Processing Bags Johan Sverdrup Contracts

Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea.

Ocean Safety, Richard Irvin Marine Safety Merger

Ocean Safety has today announced the merger with Richard Irvin Energy Solutions Marine Safety Division and their Aberdeen branch.   This merger follows the

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1593 sec (6 req/sec)