#offshoresupportvessel

ABS Marine Services is transforming its business model, with the Offshore Support Vessel segment becoming a major driver of growth and profitability. The company’s FY26 performance reflects the success of this strategy, as revenue, EBITDA and net profit increased sharply following investments in vessel ownership and offshore deployment capabilities.

The growing contribution of the Offshore Support Vessel business is evident from the company’s revenue mix. Income generated from owned vessels increased significantly during FY26, supported by assets such as Celestial, Erin, AM Passion, Ocean Diamond and Emerald. This shift allows ABS Marine to capture higher margins compared to traditional ship-management activities while improving operational control over vessel deployment.

The strategy has strengthened earnings but has also increased financial commitments. Fixed assets, borrowings, finance costs and depreciation all rose substantially during the year as the company expanded its fleet. This highlights the capital-intensive nature of the Offshore Support Vessel business and the importance of maintaining strong utilisation rates.

ABS Marine is positioning itself to benefit from growing offshore energy activity, government contracts and port infrastructure development. Recent vessel additions and participation in energy-sector tenders support its ambition to move further up the offshore services value chain.

According to Indian Petroplus analysis, the future success of the Offshore Support Vessel strategy will depend on securing long-term charter contracts and maintaining high deployment levels. If utilisation remains strong, ABS Marine could continue benefiting from higher margins, stronger revenue visibility and sustained growth in the offshore services market.

Offshore support vessels market transport goods, supplies, and major equipment during exploration and production of offshore mineral resources. These vessels are operated by ship owners and are utilized to locate oil & gas bearing areas, towing rigs, and platforms, and positioning them. These vessels are also deployed in subsea operations such as inspection, diving support, and maintenance. Moreover, other facilities provided include transportation, standby capacity, anchor management, and platform support. It also enables in moving the crew members to offshore sites.

This report projects the trends and opportunities of the global offshore support vessel market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.

Rise in offshore exploration and production activities drive the offshore support vessel market. Moreover, increase in capital expenditure on offshore oil exploration further leads to offshore developments. The market is projected to grow at a higher rate during the analysis period owing to the rise in demand for oil & gas. However, high replacement and maintenance cost of these vessels hamper the market growth. In addition, lack of technical professionals in the offshore industry also restricts the growth.

The global offshore support vessel market is segmented based on type, depth, and geography. On the basis of type, it is divided into anchor handling tug supply, platform supply vessel, multipurpose support vessel, standby & rescue vessel, crew vessel, chase vessel, and seismic vessel. On the basis of depth, the market can be bifurcated into shallow water and deep water. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key market players in this sector include Rem Maritime As, Bass Marine Pty Ltd., Harvey Gulf, Island Offshore Management, Havila Shipping ASA, and Intermarine LLC, Grupo Coremar S.A., Delta Logistics Limited, Deep Sea Supply PLC, Bumi Armada Berhad, Topaz Energy, and Marine Limited.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the current trends, estimations, and dynamics which assists to identify the prevailing market opportunities.

Major countries in each region are studied as per the key trends developments, and presence of industry players in the market.

Region-wise and country-wise market conditions are comprehensively analyzed in the report.

Key players of the market are also listed.

This study evaluates the value chain to understand the competitive environment across geographies.

An in-depth analysis of segmentation is provided to elucidate the prevailing market opportunities.

The development of offshore facilities involves a variety of marine assets. Over the past few decades, there has been a drastic increase in the offshore E&P activities resulting in to increase in development and demand for offshore support vessels.