Friday, March 23, 2012

Offshore leads the market

Amidst the newbuilding market getting quieter again, offshore sector continued its leadership in the market.

According to Golden Destiny, as for the commercial ship sector, the recent week closed with 15 vessels of a cumulative 49,000 dwt ordered in the world, down by 65% week-on-week.

Especially, it is notable that OSVs are contracted steadily. Daewoo Shipbuilding & Marine Engineering of South Korea booked FPSO totalling around $2bn. Also, Maersk Drilling plans to double its existing fleet of semi-submersible and jack-up rigs by 2016.

Director Jan Holm, Maersk Drilling said that the era of "easy oil" is gone and we need to find oil in deeper waters and harsher environments. Also forecast that oil majors would increase their investment on E&P.

Meanwhile, there has been a rise in demolition, with 229 vessels having been sold for scrap year-to-date, up by 52% on the same period last year. India buys scrap vessels at levels around $460/ldt for bulkers and less than $500/ldt for tankers. In terms of scrap price, it has slightly dropped compared with early 2012.

Published : March 23, 2012

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