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

People & Company News

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

Contracts

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume,

Offshore

Panama Flag Approval for Seagull

Seagull Maritime has become the first overseas company to secure training centre approval from the Panama Maritime Authority following the PMA’s 2014 change of leadership.

New Chemical Handling Service from Ferguson Group

Tank, Fluid Solutions and Bunded Storage for Dangerous Goods and Chemicals Introduced at Gap Ridge, Karratha.    Ferguson Group Australia, global specialist in offshore DNV 2.

InterMoor Completes Juniper Mooring Installation Contract

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation

Finance

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

Consulting

Launch of Asian Marine Casualty Forum

The Crisis in Global Maritime Casualty Response – Now Is the Time To Act – An industry Forum Designed to Promote Change An industry forum aimed at producing

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

Obama, Modi Aim High on India Trip

In a fresh bid to make India an enduring strategic partner, U.S. President Barack Obama lands in New Delhi on Sunday for a highly symbolic parade and to nurture

Offshore Energy

World's Largest Ship Sparks Outrage

Jewish groups in the Netherlands and Britain have reacted with rage and despair at the arrival in Rotterdam of the world's biggest ship, the Pieter Schelte, named

Hofste, Montijn Nominated to Supervisory Board Fugro

Fugro N.V. announces that the Supervisory Board of Fugro nominates Mrs. P.H.M. Hofsté and Mrs. A.H. Montijn for appointment as members of the Supervisory Board

Technip Certified to EDGE Standard

Technip and EDGE Certified Foundation announce today that Technip in Brazil, in France and in Italy, including flexible pipe manufacturing plants in Brazil and France and Group’s headquarters,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Ship Simulators Shipbuilding / Vessel Construction 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: 0.2045 sec (5 req/sec)