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flag Asia Pacific offshore supply vessel demand weakened in 2025 due to delayed projects, with rates and utilization down, though long-term growth is expected from deepwater developments.

flag The Asia Pacific offshore supply vessel market weakened in 2025, with PSV and AHTS dayrates dropping 16% and 14% respectively, and utilization falling due to delayed project decisions on key developments like North Ganal and Lang Lebah. flag Demand for floating rigs remains strong from ongoing deepwater drilling, while jack-up rig demand is expected to dip before recovering in late 2026–2027. flag Standard vessels face continued pressure through early 2026, but high-spec assets may see improved demand from 2027 onward, tied to future project approvals and a 12–24 month lead time. flag Deepwater and subsea tiebacks are driving long-term growth, supported by stable non-OPEC supply and OPEC spare capacity tightening gradually through 2027. flag Venezuelan production remains unlikely to rebound soon.

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