Work Class ROV Market Faces Short-term Challenges
Douglas-Westwood (DW) forecast the market for the operation of work-class ROVs to total $14.2 billion over the period to 2019, in the seventh edition of the World ROV Operations Market Forecast.
The report's author, Antoine Paillat, commented, “This represents a 19 percent increase on the previous five-year period, however, near-term we see some difficult conditions with weaker dayrates and lower levels of utilisation for the work-class fleet. We expect the global ROV market to significantly contract in value terms in 2016 (-6.3 percent) and then plateau in 2017, due to the current oil price downturn."
The conclusions of the report highlight the current market challenges with weaker dayrates and lower levels of utilization for the work-class fleet. DW anticipates the global ROV market to significantly contract in value terms in 2016 (-6.3 percent) and then plateau in 2017, due to the current oil price downturn.
February 2024
