Maritime Strategies International has more bad news for the ailing offshore sector. Read more in TradeWinds here
Offshore
Covid-19 and cheap oil knock offshore sector down again
This time, offshore companies have already cut back to deal with the depressed market. Read more
Oil industry vulnerable amid second major crisis in six years
The global oil industry is far from prepared to weather the current storm, according to a new analysis by consultancy MSI Offshore. Read more
Saudi Decision Will See Oil Markets Take a Bath
A sustained price war could see marginal projects delayed and hasten a predicted decline in new awards, writes Gregory Brown, Maritime Strategies International. Read more
Collapse of OPEC+ and offshore market impacts
A sustained price war could see marginal projects delayed and hasten a predicted decline in new awards, writes Maritime Strategies International associate director offshore Gregory Brown. Read more
IMO 2020 – lower sulphur means higher freight rates
‘From our discussions with Maritime Strategies International (MSI) and other active participants in the freight market, we now expect a higher uptake of scrubbers. We estimate that 20-25% of the larger Capesize vessels will have scrubbers fitted by end 2020. For the mid-size Panamax vessels, the uptake is lower at 5%.’ Read more
2020 Offshore Exploration Outlook
Exploration and production companies are expected to enter 2020 with measured optimism for offshore exploration prospects, after 2019 delivered a moderate increase in exploration drilling and no-so-moderate rise in licensing activity. Read more here
Take a look at our latest Foresight piece on LNG bunkering: A Niche Market
Malaysia upstream a ‘saviour’ for regional OSV owners
MSI’s Gregory Brown states that utilisation of floating drilling rigs (semi-submersible and drillships) is expected to rise over 70% in 2020. Jack-up rig utilisation is now climbing to more than 65%, statistics have shown. He foresees utilisation for anchor-handlers and PSVs will rise to 60% in 2020, a rise from 50% in 2017-18. Read more
Oil report claims dry Barents Sea prospects discourage investment
The higher investment level on the Norwegian continental shelf will decline again next year, MSI have reported based on underwhelming exploratory drillings in the Barents Sea. Read more