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Technavio releases ‘Global Offshore Supply Vessel Market 2018 – 2022’ analysis

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LNG Industry,

Technavio has released its latest forecast for the global offshore supply vessel market, covering the forecast period: 2018 – 2022.

For the period of study, Technavio analysts have forecast the market to grow at a CAGR of almost 7%.

The increasing demand for high-capacity and LNG-fuelled OSVs is another major trend being witnessed in the global offshore supply vessel market 2018 – 2022.

In 2017, LNG was available at a competitive price when compared with HFO in the US and Europe, and is preferred over low sulfur gasoil in offshore vessels.

Many major shipping manufacturers have launched LNG-fuelled OSVs owing to the benefits of using LNG as an OSV fuel.

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Offshore LNG news Natural gas news