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Latest status of the offshore and marine market: More negative than positive
Mar 13: What is the status of the offshore and marine (O&M) sector going into 2018.
8"Neutral" seems to be the verdict of most observers.
Here are the positives and negatives:
8They are expecting return of non-drilling orders as a key catalyst for recovery - in particular floating production storage and offloading (FPSO) vessels and FLNG terminals - bode well for the sector.
8Consolidation may be looming on the horizon for large-cap yard operators and small- to mid-cap offshore support vessel players
8Margin erosions will continue to squeeze O&M operators that are laden with overcapacity.
8Competition for turnkey contracts linked to production facilities has been cut-throat.
8Upstream Companies contract awards not expected to return to pre-2014 levels even by 2020.
Bad news for rigs and vessels
8Charter rates for rigs and vessels - two sub-sectors dragged down by big supply gluts - could further decline in 2018.
8Low day rates for offshore support vessels (OSV) may be here for two to three more years.
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