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.