ROV market outlook
Posted by Charles Decuir on January 3, 2018 10:30 AM EST
The ROV market isn’t out of the woods yet, with plentiful supply in the market dampening any perceived uptick in activity. But, offshore wind might offer some respite. Elaine Maslin reports (first published in the January 2018 OE).
The remote operated vehicle (ROV) market has had a tough time during the last few years due to its reliance on drilling operations.
The impact of the downturn on utilization rates and pricing, as well as the market outlook, was discussed by Andrew Reid, managing director of Douglas Westwood, part of Westwood Global Energy Group, at Subsea UK’s Underwater Vehicles Conference in Aberdeen late November.