Archives for category: offshore market

Since the 2H 2014 offshore downturn, when investment in new exploration and development dried up, many offshore vessel owners will have tended to agree with the child heroine of the 1976 musical Annie: “It’s a hard knock life”. However after three years of setbacks and weak markets, some are now starting to see positives, as a few indicators show encouraging signs. But does that mean it’s time to invest?

For the full version of this article, please go to Shipping Intelligence Network.

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After an extremely challenging 2016, parts of the offshore sector had a less harrowing year in 2017. Oil prices, though volatile, trended upwards, offshore project sanctioning picked up and there was a sense that perhaps some charter markets were starting to bottom out. That being said, it was still another very challenging year for the offshore fleet and owners will certainly be looking for improvements in 2018.

For the full version of this article, please go to Offshore Intelligence Network.

Indian offshore fields used to be the main source of the natural gas consumed in India’s rapidly growing, energy-hungry economy; now however, it is LNG imports. This recent change is largely due to a decline in the country’s offshore gas output. But as part of a drive to reduce reliance on energy imports, the Indian government has been introducing policies designed to raise offshore gas production once more…

For the full version of this article, please go to Offshore Intelligence Network.

Since the onset of the downturn in 2014 it has been a pretty bleak few years for the offshore sector, with the occasional chinks of light on the horizon often quickly clouded over. More recently there have been indications that things might be clearing up a little and so sentiment has improved somewhat. But it is worth recalling just how low the barometer has sunk in order to put these things in perspective.

For the full version of this article, please go to Offshore Intelligence Network.

While offshore production activity in Myanmar began in 1998, deepwater E&P in the country is arguably still nascent. However, recent deepwater gas discoveries off Myanmar seem to have bolstered the confidence of oil companies sufficiently for them to start planning deepwater drilling campaigns, in spite of weaker energy prices. Could these first steps be indicative of Myanmar’s deepwater E&P potential?

For the full version of this article, please go to Offshore Intelligence Network.

British cycling star Chris Froome has taken on one long cycle after another, currently tackling the Tour Of Spain following his fourth Tour De France victory back in July. Two long cycles are ongoing in the shipbuilding sector too, and this week’s Analysis takes a look at the progress of the delivery cycles in the merchant vessel and mobile offshore sectors, through a challenging period for the industry.

For the full version of this article, please go to Shipping Intelligence Network.

The North Sea and even more so the frontiers west of the Shetlands and in the Barents Sea are known for their often challenging operating conditions of rough seas, stormy skies and limited visibility. Unfortunately, the native climate could be seen as something of a metaphor for the region’s offshore markets at present, though a keen observer might spy mercurial signs of fairer weather on the distant horizon…

For the full version of this article, please go to Shipping Intelligence Network.