Report: Outlook for OSV Industry Looks Bright

Monday, June 12, 2006
According to reports, deepwater oil and gas exploration and production activities by oil majors are likely to pick up steam and go forward with the surging demand and tight supply situation that has pushed crude prices to new highs in recent months. Since the beginning of this year, the Coastal group has booked the sale of one unit of the offshore support vessel. Five other firm orders have also been placed with the Coastal group from customers from the Middle East and Western Europe. Three of these vessels are expected to be delivered this year, it said in its 2005 Annual Report. The favourable conditions of the region's energy and oil transportation markets have led to positive flow-through opportunities for the Coastal group, which is involved in the shipbuilding and ship operations sector. An increase is a reflection of the strong demand for high-powered tugboats and barges of greater capacity on account of sturdy marine transportation activities in the region. Such achievement is attributable to the group's sound product quality and reliability as it relentlessly pays close attention to customers' requirements and market changes. With numerous platforms reported to be installed in Malaysian waters over the next three to five years there is a correspondingly greater need for a wider range of support services to facilitate the endeavor.

At the chartering front, with heightened efficiency driven up by the division's renewed fleet, the group will commit a higher ratio of its fleet to the medium- and long- term charter business with a lower portion operating in the spot market. Source: Business Times

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Coast Guard tactical air squadron holds change of command ceremony

Capt. Kevin P. Gavin relieved Capt. Donna L. Cottrell as commanding officer of Coast Guard Helicopter Interdiction Tactical Squadron Jacksonville during a change of command ceremony at HITRON Friday.

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Environmental

France's Oldest Nuclear Plant Shut Down After Incident

France's oldest nuclear power plant, Fessenheim, was shut down on Saturday following an incident at the facility away from the reactor which did not pose any danger, operator EDF said.

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Years After BP U.S.Oil Spill: Compensation Battle Rages

Four years after the Deepwater Horizon spill, oil is still washing up on the long sandy beaches of Grand Isle, Louisiana, and some islanders are fed up with hearing from BP that the crisis is over.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1113 sec (9 req/sec)