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Diving support vessel markets tighten
The rising cost of maintaining shallow-water subsea infrastructure is expected to keep demand for diving support vessels steady and encourage owners to replenish their ageing assets
The market for diving support vessels (DSVs) in the Middle East and southeast Asia is tightening due to rising demand for maintaining and installing subsea infrastructure in shallow waters and a shortage of available assets.
However, there is a risk that demand will redue in the short-term as more offshore developments are undertaken in water depths greater than 250 m, which is the limit for divers and DSV operations.
S&P Global Energy principal analyst Ross Macdonald expects DSV owners will order newbuild vessels to renew ageing fleets and to continue offering inspection, repair and maintenance work in key markets.
He said demand for DSVs in the subsea decommissioning market is expected to grow, in a video interview on the sidelines of Riviera’s Offshore Support Journal Subsea Conference, in London, UK, on 2 February 2026.
Mr Macdonald said demand for DSVs is expected to be stable for the next five years, and ageing vessels will be removed from the market, probably replaced by new ships.
He said the global fleet of DSVs has dropped almost 25% since 2015, when there were just 80 in the market, “to just 62 vessels today”.
Very few of today’s DSV fleet were built in the last 10 years, and many were first delivered in the 1980s and 1990s.
“Around 20% of the existing fleet are at, or above, retirement age,” said Mr Macdonald. “In the age attrition scenario, that could mean tightening within the market, something we are watching really closely.
“We could see the market start to tighten across Asia-Pacific and then specifically in the Middle East as well.”
Riviera’s Offshore Support Journal Conference, Asia will be held in Singapore on 8-9 September 2026. Use this link for more information and to register for the event.
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