DW sees lower day rates, utilization for ROV work-class fleet

Offshore staff

LONDON The market for the operation of work-class ROVs could total $14.2 billion over the period to 2019, according to Douglas-Westwood’s latest market forecast.  

Author, Antoine Paillat, said: “This represents a 19% increase on the previous five-year period, however, near term we see some difficult conditions with weaker day rates and lower levels of utilization for the work-class fleet.

“We expect the global ROV market to significantly contract in value terms in 2016 (-6.3%) and then plateau in 2017, due to the current oil price downturn.”

The conclusions of the seventh edition of the “World ROV Operations Market Forecast” highlight the current market challenges with weaker day rates 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%) and then plateau in 2017, due to the current oil price downturn.

11/11/2015

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