Archives for posts with tag: offshore sector

The mobile offshore orderbook reached its lowest level since 2005 at the start of August. Furthermore, a significant portion has been on order for a number of years, with a large share of these units having already been launched. As uncertainty continues to cloud the future for many of these vessels, this month’s Analysis investigates the nature of the offshore orderbook in more detail.

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

2018 so far has been a year of firming oil prices. Despite continued strong output growth from US shale, the crude price has risen, with Brent even topping $80/bbl, fuelled by political risk: Venezuelan instability, North Korea and sanctions on Iran. Supply outages, plus higher prices muting demand, have hit the tanker market. However, the flip side has been more positive indications (at last) in the offshore sector.

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

 

Brazil’s offshore sector has faced various challenges in recent years but nevertheless still accounts for 11% of all offshore oil production, 20% of all ultra-deepwater fields and 23% of FPSO deployments globally. It also still has significant untapped potential, or at least so many international oil companies seem to think, if the results of the country’s most recent offshore block licensing rounds are any guide.

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

Shallow water field developments can often be overshadowed by complex deepwater projects involving MOPUs and subsea trees. Yet shallow water, fixed platform developments remain a key part of the offshore sector and a significant source of vessel demand in many areas. And with some notable fixed platform project FIDs coming up, a review of this sometimes neglected segment seems timely.

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

After three consecutive years of falling offshore project CAPEX, things were a little more positive on the project sanctioning front in 2017, with major developments such as Coral FLNG Ph.1 receiving FIDs and total global offshore project CAPEX rising by 44% y-o-y. Sanctioning sentiment is still well below pre-downturn levels, but the relative positivity seems to be holding, so what might be on the cards for 2018?

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

In the broader context of firm global LNG demand growth, Australian offshore gas mega-projects have been a significant feature of the offshore sector for the last decade, driving innovation (think Prelude FLNG) and yielding rapid production growth. There are also a few projects projected to push output even higher in the short term, though against this backdrop, there are some uncertainties in the longer term.

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

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.