Calvin Ling News

In its latest subsea vessels report Douglas-Westwood (DW) forecast more than $100b of expenditure on subsea vessel operations over the next five years – with global demand is expected to increase by 23%. The increase in expenditure is expected to be higher than the growth in vessel days, due to the move towards higher specification vessels to cater for deeper and more complicated field development programs. Dayrates for high specification dive support vessels (DSV) and multipurpose support vessels (MSV) are expected to increase by over 40% by 2017.

The subsea vessel operations market is poised to see an increase in demand in the near term with day rates for some vessels set to increase. Between 2013 and 2017, Douglas-Westwood (DW) forecast $106 billion of expenditure on subsea vessel operations – an increase of 54% over the preceding five-year period. Global demand is expected to increase 23% compared to the previous five years. The rate of increase in expenditure is expected to be higher than the growth in vessel days,…