A happy ending to the third quarter

摘要

After the holy month of Ramadan, when business is slow and working hours are shortened as Muslims fast from dawn until dusk, the Middle East's OSV market may now expect a busy ending to the third quarter. Deadlines for project tenders and bids are fast approaching, and expiring contracts for vessels are up for extension or renegotiation. Deadlines for submission of commercial bids for at least USD 1.2 billion worth of offshore projects have been postponed from August to September, when all commercial activities return to normal following the Muslim celebration of Eid al-Fitr at the end of Ramadan.