--- title: "Surging Demand for Offshore Construction Vessels: Market Outlook 2026–2028" description: Energy Maritime Associates presented at OSJ Subsea Conference, 2 February 2026, where Michael Watson talked about surging OCV demand & 2026–2028 outlook. image: https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20Blog%20-%20Graphic%20-%20OSJ%20Presentation%20-%20Mike%20Watson.jpg --- 1 min read # Surging Demand for Offshore Construction Vessels: Market Outlook 2026–2028 [![Picture of Mike Watson](https://blog.energymaritimeassociates.com/hubfs/EMA%20New%20Graphics/Staff%20Photos/Mike%20Watson%20-%20Blog%20Author.png) Mike Watson ](https://blog.energymaritimeassociates.com/blog/author/mike-watson) : Thu, Feb 19, 2026 [Industry Insights](https://blog.energymaritimeassociates.com/blog/tag/industry-insights) [Market Outlook](https://blog.energymaritimeassociates.com/blog/tag/market-outlook) [Offshore Construction Vessels](https://blog.energymaritimeassociates.com/blog/tag/offshore-construction-vessels) [Regional Hotspots](https://blog.energymaritimeassociates.com/blog/tag/regional-hotspots) ![Surging Demand for Offshore Construction Vessels: Market Outlook 2026–2028](https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20Blog%20-%20Graphic%20-%20OSJ%20Presentation%20-%20Mike%20Watson.jpg) Energy Maritime Associates (EMA) presented at the OSJ Subsea Conference in London on 2 February 2026. Our Executive Director, Michael Watson, spoke in Session 2, *“A Snapshot of Opportunities for Vessels in the Subsea Sector”,* sharing EMA’s perspective on how and where subsea project development is driving rising demand for Offshore Construction Vessels (OCVs), the implications of deep- and ultra-deepwater activity, and the regional hotspots shaping the forward outlook.   **Key takeaways ** - **2025 cooled from the 2024 peak, but the cycle didn’t reset:** OCV dayrates softened late-year yet remain structurally elevated as supply constraints persist - especially at the high-spec end. - **High-spec capacity is increasingly tied up:** contractor ownership and long-term charter control reduces open-market availability and supports continued volatility through project-led fixing. - **Tier-1 backlogs are the clearest leading indicator:** record order books stretching into 2028+ mean vessel days are being committed earlier, tightening forward availability before it shows up in execution activity. ![EMA - OSJ Subsea Conference_2026-image1](https://blog.energymaritimeassociates.com/hs-fs/hubfs/EMA%20New%20Graphics/Email%20Graphics/EMA%20-%20OSJ%20Subsea%20Conference_2026-image1.jpg?width=1240&height=698&name=EMA%20-%20OSJ%20Subsea%20Conference_2026-image1.jpg)   - **Utilisation is moving into “tight system” territory:** Saipem’s revised utilisation outlook (see presentation download below) points to a materially stronger forward workload, with limited buffer once fleets move above ~70–75%. - **Demand is concentrating in three key theatres:** South America (Brazil-led), West Africa (FPSO tiebacks), and the Middle East (gas-led expansion) are pulling the bulk of high-spec vessel days - drawing tonnage across basins. ![EMA - OSJ Subsea Conference_2026-image2](https://blog.energymaritimeassociates.com/hs-fs/hubfs/EMA%20New%20Graphics/Email%20Graphics/EMA%20-%20OSJ%20Subsea%20Conference_2026-image2.jpg?width=4004&height=2254&name=EMA%20-%20OSJ%20Subsea%20Conference_2026-image2.jpg)   - **Supply is responding, but relief is back-ended:** newbuilds face long lead times and equipment bottlenecks; EMA expects initial arrivals from 2026, with the more meaningful impact likely in 2027–2028, driving dayrate dispersion by spec and age, not a rate collapse.   #### **![Insights_icon2](https://blog.energymaritimeassociates.com/hubfs/EMA%20New%20Graphics/Email%20Graphics/Insights_icon2.svg)   ** **DOWNLOAD THE PRESENTATION ** If you’re tracking subsea vessel capacity, project timing, or regional execution risk, we’d be happy to talk through what these trends mean for your 2026–2028 planning window - from securing high-spec slots to understanding basin-by-basin tightness.   [📩 Contact us](mailto:eric.sherman@energymaritimeassociates.com) to discuss the outlook or request the supporting project and fleet data behind the analysis.      - [Tweet](https://twitter.com/share) [![Saipem, TechnipFMC & Subsea7 Q4 Results Signal Offshore Market Trends](https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20Blog%20-%20Graphic%20-%20Tier%201%20Contractors%20Q4%20Results.jpg) ](https://blog.energymaritimeassociates.com/blog/saipem-technipfmc-subsea7-q4-results-signal-offshore-market-trends) #### [Saipem, TechnipFMC & Subsea7 Q4 Results Signal Offshore Market Trends ](https://blog.energymaritimeassociates.com/blog/saipem-technipfmc-subsea7-q4-results-signal-offshore-market-trends) ![Picture of Liam Stewart](https://blog.energymaritimeassociates.com/hs-fs/hubfs/EMA%20New%20Graphics/Staff%20Photos/Liam%20Stewart%20-%20Blog%20Author.png?width=30&name=Liam%20Stewart%20-%20Blog%20Author.png) [Liam Stewart](https://blog.energymaritimeassociates.com/blog/author/liam-stewart) : Thu, Mar 26, 2026 The Q4 2025 results from Saipem, TechnipFMC (TFMC) and Subsea7 (S7) point to an offshore services market entering 2026 with strong underlying... [Market Intelligence](https://blog.energymaritimeassociates.com/blog/tag/market-intelligence) [Market Outlook](https://blog.energymaritimeassociates.com/blog/tag/market-outlook) [Subsea Market](https://blog.energymaritimeassociates.com/blog/tag/subsea-market) [Vessel Utilisation](https://blog.energymaritimeassociates.com/blog/tag/vessel-utilisation) [Read More](https://blog.energymaritimeassociates.com/blog/saipem-technipfmc-subsea7-q4-results-signal-offshore-market-trends) [![The Global Floating Production Industry Survey 2026 Results Released](https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20News%20-%20Graphic-Global%20Floating%20Production%20Industry%20Survey%20-%20Jan%202026.jpg) ](https://blog.energymaritimeassociates.com/blog/the-global-floating-production-industry-survey-2026-results-released) #### [The Global Floating Production Industry Survey 2026 Results Released](https://blog.energymaritimeassociates.com/blog/the-global-floating-production-industry-survey-2026-results-released) ![Picture of David Boggs](https://blog.energymaritimeassociates.com/hs-fs/hubfs/EMA%20New%20Graphics/Staff%20Photos/David%20Boggs%20-%20Blog%20Author.png?width=30&name=David%20Boggs%20-%20Blog%20Author.png) [David Boggs](https://blog.energymaritimeassociates.com/blog/author/david-boggs) : Wed, Feb 18, 2026 Energy Maritime Associates (EMA) recently published the results of its 2026 Global Floating Production Industry Survey, conducted in collaboration... [FPSO](https://blog.energymaritimeassociates.com/blog/tag/fpso) [Floating Production](https://blog.energymaritimeassociates.com/blog/tag/floating-production) [Global Floating Production Industry Survey](https://blog.energymaritimeassociates.com/blog/tag/global-floating-production-industry-survey) [Sentiment Survey](https://blog.energymaritimeassociates.com/blog/tag/sentiment-survey) [Read More](https://blog.energymaritimeassociates.com/blog/the-global-floating-production-industry-survey-2026-results-released) [![Improving Market Conditions and Outlook for 2026](https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20News%20-%20Graphic-FPS%20Outlook%20Report%20-%202026-2030.jpg) ](https://blog.energymaritimeassociates.com/blog/improving-market-conditions-and-outlook-for-2026) #### [Improving Market Conditions and Outlook for 2026](https://blog.energymaritimeassociates.com/blog/improving-market-conditions-and-outlook-for-2026) ![Picture of David Boggs](https://blog.energymaritimeassociates.com/hs-fs/hubfs/EMA%20New%20Graphics/Staff%20Photos/David%20Boggs%20-%20Blog%20Author.png?width=30&name=David%20Boggs%20-%20Blog%20Author.png) [David Boggs](https://blog.energymaritimeassociates.com/blog/author/david-boggs) : Tue, Nov 11, 2025 Energy Maritime Associates (EMA) has released its latest Floating Production Outlook Report (2026–2030), providing a detailed assessment of market... [Floating Production](https://blog.energymaritimeassociates.com/blog/tag/floating-production) [FPS Report Series](https://blog.energymaritimeassociates.com/blog/tag/fps-report-series) [Read More](https://blog.energymaritimeassociates.com/blog/improving-market-conditions-and-outlook-for-2026) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Mike Watson", "url" : "https://blog.energymaritimeassociates.com/blog/author/mike-watson" }, "dateModified" : "2026-02-20T15:14:48.978Z", "datePublished" : "2026-02-19T11:43:19.000Z", "headline" : "Surging Demand for Offshore Construction Vessels: Market Outlook 2026–2028", "image" : [ "https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20Blog%20-%20Graphic%20-%20OSJ%20Presentation%20-%20Mike%20Watson.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.energymaritimeassociates.com/blog/surging-demand-for-offshore-construction-vessels-market-outlook-2026-2028", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.energymaritimeassociates.com/hubfs/EMA%20New%20Graphics/Energy%20Maritime%20Associates_logo.svg" }, "name" : "Archer Knight (Holdings) Limited " } } ``` ```json { "@context" : "https://schema.org/", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "David Boggs" }, "dateModified" : "2026-02-18", "datePublished" : "2026-02-18", "description" : "Energy Maritime Associates in partnership with Offshore, releases the 13th Annual Global Floating Production Industry Survey results for 2026.", "headline" : "The Global Floating Production Industry Survey 2026 Results Released", "image" : { "@type" : "ImageObject", "height" : "", "url" : "https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20News%20-%20Graphic-Global%20Floating%20Production%20Industry%20Survey%20-%20Jan%202026.jpg", "width" : "" }, "mainEntityOfPage" : { "@id" : "https://blog.energymaritimeassociates.com/blog/the-global-floating-production-industry-survey-2026-results-released", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "height" : "", "url" : "https://blog.energymaritimeassociates.com/hubfs/EMA%20New%20Graphics/Energy%20Maritime%20Associates_logo.svg", "width" : "" }, "name" : "Energy Maritime Assoicates" } } ``` ```json { "@context" : "https://schema.org/", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Mike Watson" }, "dateModified" : "2026-02-19", "datePublished" : "2026-02-19", "description" : "Energy Maritime Associates presented at OSJ Subsea Conference, 2 February 2026, where Michael Watson talked about surging OCV demand & 2026–2028 outlook.", "headline" : "Surging Demand for Offshore Construction Vessels: Market Outlook 2026–2028", "image" : { "@type" : "ImageObject", "height" : "", "url" : "https://blog.energymaritimeassociates.com/hubfs/EMA%20-%20Blog%20-%20Graphic%20-%20OSJ%20Presentation%20-%20Mike%20Watson.jpg", "width" : "" }, "mainEntityOfPage" : { "@id" : "https://blog.energymaritimeassociates.com/blog/surging-demand-for-offshore-construction-vessels-market-outlook-2026-2028", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "height" : "", "url" : "https://blog.energymaritimeassociates.com/hubfs/EMA%20New%20Graphics/Energy%20Maritime%20Associates_logo.svg", "width" : "" }, "name" : "Energy Maritime Associates" } } ```