Archives for posts with tag: offshore

The Covid-19 pandemic had a severe impact on offshore markets during 2020. Extracted from our upcoming Offshore Review & Outlook, this week’s Analysis outlines the contrasting fortunes for offshore oil and gas and offshore renewables, some moderate improvements in activity after a tough year, an increasing focus on fleet emissions and an emphasis on “green and tech” in post Covid-19 planning.

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

As part of our Green Transition work, this week’s Analysis reviews a rapidly growing market with huge potential: Offshore Renewables. 2020 was a record year for start ups (18 farms, 5.6 GW) and, for the first time, CAPEX committed overtook offshore oil and gas ($51bn vs $41bn). Investments into the “wind” fleet are also gathering pace, with pressures to limit emissions and be “green” across the supply chain.

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

After a uniquely challenging year for the shipping industry, our first Analysis of the year reviews some of the dramatic trends from a Covid-19 dominated 2020. Benefiting from elements of “disruption upside”, our cross-segment ClarkSea Index actually ended the year down only 2% y-o-y, experiencing its second highest year since 2010 (after 2019) despite global seaborne trade falling 3.8% to 11.5bn tonnes.

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

Covid-19 has had a major impact on global energy markets, and a range of knock-on effects across the shipping industry. The offshore sector has been hit hard, and now faces its third downturn in just over a decade. The offshore markets are diverse and impacts have varied, and our Offshore Market Impact Tracker has been providing regular updates on indicators tracking the key developments.

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

Three weeks ago, Shipping Intelligence Weekly considered the effect of global efforts to moderate climate change, and the potential maritime impacts of ‘energy transition’ and decarbonisation (see SIW 1,422, 15th May 2020). This week’s Analysis continues the story, looking at scenarios for the future shape of energy production offshore which may play out as patterns of world energy use evolve.

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

Last week’s Analysis took a long-term view of seaborne trade. This week, we look at the history of global oil demand, a key driver of seaborne trade (crude and products trade totalled 62m bpd last year, 25% of the total in tonnes), offshore oil production (25m bpd), and oil prices. In 2020, the now global spread of Covid-19 is leading to major disruption to oil demand, and the ‘long’ view provides an interesting context.
Shipping Intelligence Network.

A shrinking global orderbook has been one of the more persistent features of the post-financial crisis years, with the volume of tonnage on order now down to c.30% of peak levels. However, a substantial volume of newbuild investment has still taken place over the period as a whole, and a greater focus on specific vessel types has left the current orderbook looking very different to a decade earlier.

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

 

Conditions in the offshore sector have been notably challenging since the oil price crash of 2014. One particularly stark symptom of the downturn has been the long slowdown in the pace of delivery of offshore assets. Although this has offered some supply-side support, it has provided a clear sign, even after some market improvements, of quite how sustained the impact from a prolonged downturn can be.

 

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

The final year of the decade saw further improvements across the shipping markets with a 24% increase in our ClarkSea Index taking it to its highest level since 2010, principally driven by gains in the tanker and gas segments. Meanwhile the impact of “headline” growth in seaborne trade (1.1% to 11.9bn tonnes) and world fleet (4.1% to 2.1bn dwt) were supplemented by IMO 2020 related “adjustments”.

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

As we close in on the end of the decade, this week’s analysis compares data from shipping’s last forty years. It’s certainly been a tough decade, much of it spent dealing with the aftermath of the financial crisis and working through shipping’s surplus capacity. But it’s been far from a “dead decade”: trade growth of 3.7bn tonnes, 1.2bn dwt of deliveries and an improving ClarkSea Index as we close out…

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