Are well decommissioning projects a panacea for flat rates?

摘要

Offshore markets have started to inflect, but the pace of recovery will likely disappoint many." This is the opinion of London-based Maritime Strategies International associate director Gregory Brown, who feels current exploration plans appear insufficient to drive the market back to the highs of the last cycle. "To date, any increase in demand has been met with the reactivation of tonnage - as with the North Sea last year where demand increased by about 20 vessels but utilisation was broadly flat," Mr Brown explains, adding, "We think vessel owners reactivating tonnage without a firm contract are far too optimistic about the broader industry."