Asia-Pacific Offshore Support Vessels Market - Growth, Trends, COVID-19 Impact, And Forecasts (2022 - 2027)

The market is segmented by Vessel Type ( Platform Supply Vessels, Anchor Handling Tug/Anchor Handling Towing Supply (AHT/AHTS) Vessels, and Others) and Geography ( China, India, Japan, Singapore, South Korea, Indonesia, Australia, and Rest of Asia-Pacific)

Market Snapshot

Asia-Pacific Offshore Support Vessels - Market Summary
Study Period: 2019-2027
Base Year: 2021
CAGR: >7 %

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Market Overview

The Asia-Pacific offshore support vessels market is expected to grow at a CAGR of more than 7% during the forecast period of 2022-2027. The COVID-19 pandemic affected the market negatively. The pandemic led to the downsizing of offshore oil and gas and offshore wind farm projects due to a decline in demand, which in turn affected the offshore support vessel market. Factors such as the increasing installation of offshore wind farms and rising deepwater development activities driven by the declining production from the mature fields are likely to drive the offshore support vessel market. However, rising demand for dynamic positioning drilling rigs and increasing pressure on day rate, are expected to restrain the market for offshore support vessels during the forecast period.

  • AHT/AHTS are likely to dominate in the market during the forecast period owing to their significant advantages over other types.
  • The region is witnessing an increasing adoption of renewable energy sources, such as wind energy. Asia-Pacific region has a significant potential for wind energy in the offshore region which is likely to present significant opportunities to the players involved in the market. Also, rising oil and gas activity ranging from exploration and production to decommissioning of rigs is also expected to present opportunities.
  • China is expected to dominate the market during the forecast period owing to increasing activity in the renewables sectors as well as the oil and gas sector.

Scope of the report

The Asia-Pacific offshore support vessels market report includes:

Anchor Handling Tug/Anchor Handling Tower Supply Vessels (AHT/AHTS)
Platform Supply Vessels
Other Types
South Korea
Rest of Asia-Pacific

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Key Market Trends

Anchor Handling Tug/Anchor Handling Towing Supply (AHT/AHTS) Vessels to Dominate the Market

  • AHTS is a naval vessel that is solely concerned with the objective of either tugging or towing an oil-rig or a ship. They differ from Platform Supply Vessels in being fitted with winches for towing and anchor handling, having an open stern to allow the decking of anchors, and having more power to increase the bollard pull. 
  • Due to such benefits, AHTS vessels are preferred over other types of offshore support vessels and are being increasingly manufactured and deployed to sites.
  • In March 2022, Perdana Petroleum secured vessel charter contracts worth RM 9.6 million from Petronas Carigali to provide three units of anchor handling tug and supply vessels with crew and equipment to perform 24-hours services for assisting and servicing drilling rigs, offshore installation, derricks barges, towing and anchor jobs.
  • In December 2021, Santos WA Energy Ltd. contracted two Solstad Offshore Anchor Handling Tug Supply vessels to support the drilling activities in Australia. The contracts are expected to start in the second quarter of 2022 and have an estimated duration of 390 days.
  • Thus, considering the above-mentioned points, it can be concluded that the AHTS vessels are likely to dominate the market during the forecast period.
Asia-Pacific Offshore Support Vessels  Market - Revenue Share by Vessel Type

China Expected to Dominate the Market

  • China is one of the major economies in the Asia-Pacific region. The country has active interests in the oil and gas industry and is seeing a transformation towards renewables, including offshore wind farms.
  • China has active oil and gas interests in the South China sea and is engaged in exploration and production in several blocks all over the South China Sea. In September 2021, China National Offshore Oil Corporation announced the discovery of an oilfield in Bohai Sea with an estimated reserve of crude oil exceeding 100 million tonnes. Similar activities are underway, which will drive the offshore support vessels market as such vessels are needed during the exploration as well as the production phase of a basin.
  • Apart from oil and gas, China is also rapidly adopting renewable energy in its power mix to limit emissions in its economy. The country has an enormous installed capacity of offshore wind farms, and several more are in various stages of construction.
  • In January 2022, MingYang Smart Energy Group received an order to supply 11 MW offshore wind turbines for the 600-MW Qingzhou 1 and 400-MW Qingzhou 2 sites, located in deep waters offshore of Guangdong.
  • According to the National Energy Administration of China, the installed capacity of offshore wind power stood at 9 GW in 2020 as compared to 1.03 GW in 2015.
  • Considering the above mentioned points, China is expected to dominate in the Asia-Pacific offshore support vessels market during the forecast period.
Asia-Pacific Offshore Support Vessel Market- China Offshore Wind Energy Installed Capacity

Competitive Landscape

The Asia-Pacific offshore support vessels market is partially fragmented. Some of the major players involved in the market are Kawasaki Kisen Kaisha, Ltd, Solstad Offshore ASA, PACC Offshore Services Holdings Ltd, Seacor Marine Holdings Inc., Tidewater Inc..

Recent Development

  • In January 2022, TSS Pioneer, an offshore support vessel built by Vard at the Vung Tau shipyard in Vietnam, completed sea trials offshore Vietnam. The vessel will be delivered to Ta Shang Marine, a joint company owned by Mitsui O.S.K. Lines and Ta Tong Marine.
  • In October 2021, Dong Fang Offshore, a subsidiary of Hung Hua Construction and the largest owner and operator of dedicated offshore wind farm support vessels in the Asia Pacific, put the first Taiwan-flagged walk-to-work vessel into operation after converting a construction support vessel to better serve the industry.

Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, untill 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porters Analysis

      1. 4.7.1 Bargaining Power of Consumers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Anchor Handling Tug/Anchor Handling Tower Supply Vessels (AHT/AHTS)

      2. 5.1.2 Platform Supply Vessels

      3. 5.1.3 Other Types

    2. 5.2 Geography

      1. 5.2.1 China

      2. 5.2.2 India

      3. 5.2.3 Japan

      4. 5.2.4 South Korea

      5. 5.2.5 Australia

      6. 5.2.6 Singapore

      7. 5.2.7 Indonesia

      8. 5.2.8 Rest of Asia-Pacific


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Tidewater Inc.

      2. 6.3.2 Maersk Supply Services AS

      3. 6.3.3 Seacor Marine Holdings Inc.

      4. 6.3.4 PACC Offshore Services Holdings Ltd

      5. 6.3.5 Solstad Offshore ASA

      6. 6.3.6 Nam Cheong Offshore Pte. Ltd

      7. 6.3.7 MMA Offshore Limited

      8. 6.3.8 Kawasaki Kisen Kaisha, Ltd

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Offshore Support Vessels Market market is studied from 2019 - 2027.

The Asia-Pacific Offshore Support Vessels Market is growing at a CAGR of >7% over the next 5 years.

Tidewater Inc., Seacor Marine Holdings Inc., PACC Offshore Services Holdings Ltd, Kawasaki Kisen Kaisha, Ltd, Solstad Offshore ASA are the major companies operating in Asia-Pacific Offshore Support Vessels Market.

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