The market outlook for OSVs in the Asia-Pacific region appears good. With E&P spending expected to increase by 10% year-on-year in 2013/2014, led by development spending, OSV term demand is expected to increase in tandem. Orders for over 90 jackups coming into the market by 2015 account for about 21% of the current fleet of over 400 units; this will in turn boost the OSV market. As more ultra-deepwater rigs enter the market, and as subsea and seismic work gains greater momentum, more AHTS vessels and PSVs will be needed. Furthermore, with an ageing fleet, new vessels will be needed to replace those being retired.
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