Optimistic Forecast News

Scientists warn that climate change is the greatest peril that humankind has ever faced. Yet oil and gas exploration is set to clock the highest growth for more than a decade this year and next. Protesters cause disruption but, for the moment, hydrocarbon energy underpins life as we know it“Offshore oil and gas production probably matters now more than ever,” said Audun Martinsen. The Rystad Energy Partner and Head of Energy Research told Maritime Reporter & Engineering News.“It…

One year ago, we reported on vacation river cruising, presenting an industry mostly on the optimistic side of growth and expansion for 2018. This year’s review is more geographically limited – to the Mississippi River, heartland cruises centered among New Orleans, Memphis, St. Louis and St. Paul – but with links important for a lot of smaller cities in between.Big picture:This industry is strong, at least among its two major players: American Cruise Lines and the American Queen Steamboat Company. Both have extensive and varied schedules for 2019.

Taiwanese ocean shipping company Yang Ming Marine Transport Corporation said that its  consolidated revenues of 2017 totaled NTD 131.08 billion (USD 4.4 billion), up 13.59% compared with NTD 115.4 billion (USD 3.88 billion) in revenue from previous year. The company’s net profit, after tax, was NTD 0.32 billion (USD 10.78 million), EPS NTD 0.17. Volumes in 2017 also increased to 4,722 thousand TEUs, up 9 % year over year. Moving into the black, Yang Ming’s annual revenue and profit for 2017 saw significant improvement. Coupled with a recovering shipping market, the effort and dedication from team members worldwide helped Yang Ming’s move in the right direction and take the first step to success.

The latest Container Shipping Forecaster from Maritime Strategies International (MSI) makes a more optimistic forecast on the demand side. Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner, MSI's  trade growth estimates for 2016 are more than double those of the others. Much of this positivity rests on an interpretation of the dynamics of trade volumes on the Asia-Europe route, with MSI ascribing much of the weakness in 2015 to short-term currency and inventory effects and 2016 seeing a reversion to fundamentals-driven growth. The market gyrations around Lunar New Year mean that the sector will have to wait another month before it becomes clearer which of the analysts’ competing views better fits the live trade data.

The latest Container Shipping Forecaster from MSI suggests a more positive market outlook for the container shipping sector in 2016 than the analysis of most of its peers. Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner, MSI makes a more optimistic forecast on the demand side – indeed its trade growth estimates for 2016 are more than double those of the others. Much of this positivity rests on an interpretation of the dynamics of trade volumes on the Asia-Europe route…

According to the optimistic forecast, oil production on the Russian Arctic shelf by 2030 will reach only 18 mln tonnes per year, Vasily Bogoyavlensky, Research Director of Oil and Gas Institute of the Russian Academy of Sciences said. "I believe that in the next 15 years until 2030 shelf with oil will not help us. According to overoptimistic forecast, if the development of all open fields begins, best-case scenario is that in 2030 we will reach 18 mln tonnes, which is 3.5% of our annual production," expert said. At the same time, the expert spoke optimistically about the possibilities of import substitution of the equipment for the development of offshore fields.

The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms. Oil companies are only delaying projects, Claus Hemmingsen, the chief executive of Maersk Drilling, a unit of Danish shipping conglomerate A.P. Moller-Maersk, told Reuters on Friday. "I would rather call it a short-term softness than anything dramatic," Hemmingsen said in a telephone interview. Activity in the deep waters off West Africa and Brazil will suffer the most, he said. Other drilling companies have warned that the market could be slow for the next two years as oil majors delay projects and cut capital expenditure to save cash for dividends…

North Sea drilling activity remains steady, with a positive forecast for the next two quarters, according to a new report into offshore activity from Deloitte, the business advisory firm. The report, compiled by Deloitte’s Petroleum Services Group (PSG) found that although the number of new wells drilled on the UK Continental Shelf (UKCS) has fallen slightly in comparison to the same period last year, the level of exploratory activity remains healthy. A total of 16 exploration…

The 2011 first-quarter results show that Cologne-based engine manufacturer DEUTZ has continued its positive business performance of the past twelve months. Operating profit of €18.2 million (EBIT before one-off items) sends a strong signal that the company is on an upwards trajectory this year. In the first quarter of 2010, DEUTZ had reported an operating profit of just €0.7 million. For the first time in three years, the company was also able to report positive net income for the first quarter -traditionally a subdued period.

The $55mGulf Esprit - the first of 13 double-hulled tankers ordered by Dubai-headquartered Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator - has been named at Korea's Hyundai Mipo Dockyard. The 47,000 dwt Gulf Esprit is the seventh double-hulled tanker in GEM's rapidly growing fleet - now one of the youngest in the world. The company is to receive another 12 hi-specification vessels with an order book value of USD 570 million by 2009 end. Delivery of the Gulf Esprit, which will go into time charter with Oman Methanol Company, a subsidiary of Oman's giant OMZEST Group, on a 15-year deal, takes GEM's asset value to $1.1b.