Sea Technology

APR 2017

The industry's recognized authority for design, engineering and application of equipment and services in the global ocean community

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www.sea-technology.com April 2017 / st 9 soundings )) Marine Seismic, Acquisition Markets Expected to Grow. Transparency Market Research has released a new market report on marine seismic equipment. The global marine seismic equipment market was valued at $359.8 million in 2015 and is projected to reach $533.9 million by 2024 at a CAGR of 4.5 percent from 2016 to 2024. The global marine seismic acquisition market was valued at $3,562.6 million in 2015 and is projected to reach $5,662.4 million by 2024 at a CAGR of 5.3 percent from 2016 to 2024. The largest segment of the global marine seismic acquisition market was 3D survey, accounting for more than 85 percent share in 2015. The segment is anticipated to continue its dominance during the forecast period. 4D survey technology is expected to witness significant growth during the forecast period. Seismic streamers dominated the marine seismic equipment market in 2015 and should continue their dominance over the forecast period. Europe leads the marine seismic equipment and acquisition market, followed by Latin America, the Middle East and Africa. )) New Center for Autonomous Ships. Rolls-Royce will open its Marine R&D Centre for Remote Control & Autonomous Ships and Artificial Intelligence in Turku, Finland, this year. Rolls-Royce's partners are the Technical Research Centre of Finland and Tampere University of Technology, together with numerous SMEs and start-ups specializing in novel technologies. Remotely controlled and autonomous ships represent a fundamental change in shipping over the next decade and are driving the digital transformation in the sector. Rolls-Royce's Centre of Excellence for autonomous shipping collaborates with the Autonomous Shipping Alliance, an ecosystem bringing together global forerunners and agile ICT start-ups. The aim of the alliance is to provide the world's first autonomous maritime products, services and a flourishing ecosystem by 2025. )) DP Market to Grow at 3.8 CAGR to 2022. According to a new report by Allied Market Research titled "Marine Dy- namic Positioning System Market: Global Opportunity Analysis and Industry Forecast, 2014-2022," the marine dynam- ic positioning system market is anticipated to reach $2,127 million by 2022 from $1,594 million in 2015, growing at a CAGR of 3.8 percent from 2016 to 2022. Europe dominated the global market in 2015, accounting for a market share of more than 32.0 percent. The growth of the global marine dynamic positioning system market is driven by an increase in the number of offshore patrol vessels, growth in offshore wind farms, and a rise in the deployment of research ves- sels. Increase in seaborne trade in terms of volume and value also fuels the growth of the market. However, the antici- pated downturn in the shipbuilding and offshore industries and the high maintenance requirement for the mechanical components of dynamic positioning systems limit market growth. By subsystem segment, thruster systems accounted for the major market share in 2015; a trend expected to continue during the forecast period due to the higher cost of thruster systems and their long replacement cycle span. Control systems and po wer systems held the second and third largest market share, respectively, in 2015. Europe accounted for the maximum revenue in 2015, anticipated to reach $609 million by 2022, o wing to a strong manufacturing base of dynamic positioning systems and technical expertise. Asia-Pacific is expected to lead the market by the end of the forecast period based on growth trends in China and other emerging countries in the region related to the shipbuilding industry. Offshore vessels held the major global DP market share of about 44.0 percent in 2015, while naval vessels are expected to grow market share at 4.6 percent by 2022. )) Report on Suspicious Trans-Shipping Activity. Oceana released a report exposing the global scale of trans-shipping at sea, a practice that can mask illegal fishing practices and conceal human rights abuses. The report uses a new data set from Global Fishing Watch and Oceana's partner SkyTruth to identify likely trans-shipping hotspots. Trans-shipping enables fishing vessels to remain at sea for extended periods of time. Fishing vessels and refrigerated cargo vessels rendezvous at sea in order to transfer seafood, fuel or supplies. While this trans-shipping practice can be legal in many cases, it also can facilitate the laundering of illegally caught fish, especially on the high seas and in waters surround- ing developing and small island nations with insufficient resources to police their waters. The report found that of the suspected trans-shipping events worldwide, 50 percent occurred within Russian waters. )) Marine Fuel Management Market to Grow at 4.1 Percent CAGR to 2024. A new report titled "Marine Fuel Man- agement Market by Process" states that the global marine fuel management market revenue was $3,820.0 million in 2015 and is projected to reach $5,435.7 million by 2024 at a CAGR of 4.1 percent from 2016 to 2024. Marine fuel management has gained importance because of the rising cost of marine fuel and stringent go vernment regulations to curb pollution at sea, according to Transparency Market Research. The total cost of marine fuel accounts for more than half of vessel operating costs. Europe, which is the global center for the shipping and bunker fuel market, suppli- ers and traders, provides opportunities for the growth of the monitoring systems market. The developing economies of Asia-Pacific and the Middle East are increasing trade through shipping, and the growing emphasis on shorter routes for trading provides opportunity for growth of the marine fuel management market in these regions. Major shipown- ers/builders, international traders with marine fleets and port authorities are investing large amounts in marine fuel management systems. ST

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