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E&P spending going up: Rates will go up from here on
Oct 24: Global upstream E&P spending is expected to increase by 7% in 2018 assuming crude prices in the mid-US$ 50s per barrel
8The investment flows will go up from there on
8The expected increase in E&P spending will boost demand for drilling rigs and offshore supply ships.
8Renewed interest follows break-even level reductions of up to 50% for new projects in North Sea and Gulf of Mexico since 2014
8Already, spot day rates for certain types of offshore support vessels have improved while others are still under pressure
--  PSVs (production support vessels) > 900 m2 have made solid spot market rate gains over 2016 levels
-- AHTs (anchor handling tugs) > 20k bhp have seen spot rates coming under pressure
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