Broker says most owners "still downbeat"News // June 5, 2015
With the financial reporting season upon us in recent weeks, broker Seabrokers says numerous OSV owners remain downbeat in their outlook for the remainder of 2015.
"The reality being faced by owners is a market where the reduction in commodity prices and associated decrease in offshore activity has left a significant over-supply of vessels," said Seabrokers.
"Vestland Offshore surmmarised the market with the evaluation that 'a challenging period is expected ahead; and the development in the oil price will be decisive on the activity of the oil companies.'”
Deep Sea Supply noted the positive rise in oil prices since the start of the year, but came to the conclusion that “no improvement... is expected in the short to medium term” due to cost-cutting by oil companies that has led to many projects being delayed.
Further concerns were raised regarding the effect of political sanctions on Russia, and the difficulties being faced in
Brazil following the corruption allegations there.
However, there were some positive reflections, with Viking Supply Ships remaining confident about the long-term outlook for the niche Arctic and harsh-environment markets in particular.