Is It Back?
To say the Gulf of Mexico maritime business had a down year would be a major understatement. But rags-to-riches-to-rags experience of the past has resulted in a consolidated, resourceful group of companies poised to pounce on the next market upturn … which should be very soon. The business trends of consolidation and globalization that have largely defined the late 1990s have touched every level of business in the U.S., including the Gulf of Mexico maritime industry. Companies that had largely depended on "business as usual" are generally out of business today. The result: a resilient industrial base that is poised to prosper in good times and bad. "Business is bad right now, as the oilfield is our primary source of business," said Ralston P.
Up, Up and Away?
The only logical reason the sustained high price per barrel of oil has not already been dubbed "OIL BOOM 2000" is the fact that hindsight is 20/20. Companies that operate, build and supply vessels for the fickle oil patch have seen schizophrenic markets of days past bring industry goliaths to their knees. There remains a reserve among Gulf of Mexico area companies regarding prospects 2000 and beyond, but there is a growing feeling the business - which has largely been dismal since the end of 1997 - is set to embark on one of those notorious end runs that will fill area yards with healthy backlogs for years. The reason for the "look before you leap" attitude is also largely rooted in changing business dynamics which have effectively altered the way in which the world does business.
