Subsea vessel owners preparing for tough 2016

摘要

The sudden drop in oil price and cuts in investment have hit the subsea vessel market just as other segments of the offshore vessel industry. At the time of writing, the majority of what is a relatively young fleet of subsea vessels were already booked on long-term contracts, so subsea contractors are fairly busy this year, but the longer-term outlook i.s less satisfactory. "Oil companies have suddenly and unexpectedly seen their income halved," said Fearnley Offshore Supply AS (FOSAS) in its most recent report on the subsea market. "As a result, they are reviewing budgets to 'save costs where possible. "Investing in costly field developments is not at the top of their list of priorities, and 2016 subsea umbilicals, risers and flowlines (Surf) budgets are likely to show evidence of this."