MARKETS • OFFSHORE


the current slow pace, 27% fewer newbuild contracts would be placed in full year 2017 than was the case in 2016.


The situation for yards is painful and reductions in capacity are taking place, exacerbated by weak marine ordering in the marine sectors. A number of traditional offshore yards have looked to sectors such as fishing, super-yachts and navy to take orders.


Norway & Offshore Norway remains an important offshore producer and driver of technology change, producing 1.9m bpd offshore oil accounting for 7% of production. Norwegian owners are also the fourth largest offshore owning nation, controlling 6% of the world’s offshore fleet with a market leading position in Subsea support (MSV, DSV and ROV Support) and second only to the US in large PSVs and AHTS. This compares to a position as the sixth largest provider of tonnage to the merchant shipping fleet and a market leading position in the Chemical tanker sector and second ranking position in the Car Carrier sector.


Rig utilisation We We are co


 United States Coast Guard’s Qualship 21 roster ffo


     


e are committed to upholding the values of safetyommitted to upholding the values of saffe y 


  or 13 consecutive years.


or 13 Visit us at Booth D01-21 during Nor


International Registries (U.K.) Limited   


      


       Nor- r-Shipping 2017.


london@register-ir blog.register-ir www.register-i


-iri.com -iri.com r- r .com


r- r-


-iri.comi 


committed to the quality of the   y,, security


  y,, and environmental


Arabian Inspection & Survey Co. Ltd., Saudi Arabia


International Industrial & Marine Surveyors, Loss Adjusters & Consultants (Managers A.E.T. Lloyd’s Agency)


Outlook As the offshore market moves through its most dramatic cycle for 30 years, some of the trends that have characterised the past two decades – more international, deeper and further from shore, more gas, more subsea, more FPSO – will continue while others are more uncertain. General activity is starting to pick up, also including increases in restructuring, M&A activity and asset sales.


There have been encouraging signs of greater activity in the offshore rig sector during Q1 2017, with increased liquidity and discussions for new drilling contracts, a reduction in contract cancellations and interest in asset transactions. However, there are few signs of any knock-on effect on the support vessel markets as of end-Q1 2017. Most AHTS and PSV term rates remain at opex levels, even if there has been the occasional market spike to (briefly) above £50,000/day in the small North Sea AHTS market.


To conclude, while sentiment is improved, huge challenges for this important sector market remain as it strives for competitiveness against other energy sources. 


Visit: seatrade-maritime.com


Jeddah P.O.Box


Telephone Fax


E-mail


Riyadh P.O.Box


Telephone Fax


E-mail


Dammam P.O.Box


Telephone Fax


E-mail


9963, Jeddah 21423, Saudi Arabia (+966) 012 657 0904 (+966) 012 6570845


jeddah@ais-survey.com jeddah@aet-lloydsagency.com


4767, Riyadh 11412, Saudi Arabia (+966) 011 4794497/98 (+966) 011 4772696


riyadh@ais-survey.com riyadh@aet-lloydsagency.com


6850, Dammam 31452, Saudi Arabia (+966) 013 8331260/1620 (+966) 013 8331052


damam@ais-survey.com dammam@aet-lloydsagency.com


Seatrade Maritime Review • Quarterly Issue 2 • June 2017 17


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100