Dubai supply vessel conference delivers insights that drive competitive advantage

December’s conference brought industry leaders together in Dubai to discuss critical market dynamics and strategic challenges within the offshore vessel sector. Several key themes emerged, each with significant competitive implications.

The Middle East offshore market is experiencing robust growth, with vessel demand increasing threefold since 2020. Saudi Arabia, the UAE, and Qatar account for 90% of regional activity. Day rates have surged by up to 94%, despite only modest growth in the number of working vessels, indicating sustained tight market conditions.

Fleet renewal has become an urgent industry imperative. With the average vessel age at 16 years and up to 400 Platform Supply Vessels (PSVs) needing retirement by 2030, the current order book of just 30 vessels creates a substantial supply gap. Significant shallow water opportunities were also highlighted, offering favourable terms for those able to meet the requirements.

Compelling presentations showcased the substantial efficiency gains achievable through digital transformation. Pilot programmes have demonstrated fuel savings of 20-35% through AI-optimised routing and cargo distribution. Enhanced connectivity has also improved monitoring and crew engagement.

A dedicated exhibition area provided attendees with direct access to leading technology providers, equipment manufacturers and service companies. This allowed for hands-on evaluation of new solutions aimed at enhancing fleet efficiency, reducing emissions, and optimising operations. For exhibitors, the conference’s focus on market challenges and high-level attendance presented valuable opportunities to showcase how their products and services align with operators’ strategic needs, particularly regarding digitalisation and decarbonisation. 

The overall mood of the conference was perhaps best summarised by one returning senior industry executive who remarked: "Thank you for yet another stellar conference. I particularly enjoyed this one!"

Riviera’s Offshore Support Journal Conference Series will return in 2025, featuring live events in Europe, Asia, the Americas, and the Middle East. The year will also see the return of popular offshore webinar weeks alongside ongoing coverage of the sector in print and online.