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Offshore market-I: It is looking up, but overcapacity is significant
Aug 14: The rates are still to go up but there is an increase in rig tendering activity and a strong volume surge for subsea equipment and floating production units
8This corresponds with increasing sanctioning of new field developments, which whilst still at a low level, has picked up notably from levels seen in 2015, 2016 and 2017.
8There is increased activity in the PSV segment no doubt
8Also there is increasing M&A activity within the rig and OSV segments. OSV and subsea secondhand transactions are also on the rise.
8Even though these are positive signals that could indicate that offshore is about to recover in terms of activity, overcapacity in the asset-heavy segments remains significant.
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