In 2025, the subsea vessel market shifted from record highs to a more cautious, yet fundamentally strong, outlook. While short-term activity and rates have softened, long-term demand, particularly driven by deepwater projects and global energy infrastructure, remains robust. Key developments, including an influx of newbuilds and corporate consolidations, are expected to shape competition and vessel availability as early as 2026.
The first half of 2025 saw high dayrates for 150-ton and 250-ton AHC crane vessels, often exceeding $60,000 and $80,000 per day, respectively. However, a significant portion of high-specification vessels is now controlled by contractors rather than shipowners, leading to more fixtures between contractors. Short-term charters dominate, contributing to dayrate volatility. While this reflects a project-oriented approach, it may shift towards more long-term contracts as the market stabilizes.
On the supply side, newbuild orders for AHC crane vessels have surged, with around 30 units currently in the orderbook. Most are speculative and uncommitted, yet the market anticipates a wider spread in dayrates starting in 2026. Despite a slowdown in the latter part of the year, long-term fundamentals remain strong, particularly for deepwater projects, suggesting a likely uptick in activity from 2026 to 2027.
