Offshore support vessel owners in Asia are benefiting from increasing demand in what could become a market supercycle, but are being impacted by rising costs
Offshore support vessel (OSV) owners are being affected by inflation and interest rate rises, although this is being offset by increasing demand, fleet utilisation and charter rates.
Many of the issues, challenges and opportunities owners face will be debated during what is expected to be a lively industry-leading panel at Riviera’s Offshore Support Journal Conference, Asia, held in Singapore, 17-18 September 2024.
On the panel will be Tidewater managing director for Asia Pacific, Joanne Ang, Britoil Offshore Services head of subsea in Asia Pacific, Ernest Loh, MMA Offshore executive general manager for vessel services Stuart Edgar and Arus Jaya Oil & Gas managing director Vivek Khabya.
They will share their view of the issues impacting their businesses as the offshore energy sector rides the upturn of a supercycle; how owners fare in a market of tight supply and high charter rates; coping with high inflation and limited access to finance; recruiting and retaining seafarers for growing vessel fleets; and navigating the energy transition and decarbonisation.
Riviera’s Offshore Support Journal Conference, Asia will be held in Singapore, 17-18 September 2024. Click here for more information on this industry-leading event.
During Day 2 of the conference, there will be a session covering opportunities for vessels and drilling rigs in various key markets across the region.
Mr Edgar will provide an update on deepwater oil and gas projects, decommissioning and offshore renewables in Australia, while Wintermar Offshore Marine managing director,
Sugiman Layanto, will outline the opportunities in Indonesia.
There will be presentations by Association of Marine Industries of Malaysia president Adren Siow, Dong Fang Offshore chief operating officer Ben Darrington and Prima Marine Public Co Ltd project manager Panithi Boonchokhirunmetha.
There will also be a session dedicated to offshore wind developments in the Asia-Pacific/Australia region covering the upcoming shallow and floating projects, vessel demand and supply and cabotage rules in various nations.
International Ocean Group’s chief operating officer, Ethan Wang, will provide a vessel owner’s perspective of the offshore windfarm sector, including experience and lessons learned from servicing the projects in Taiwan.
He will provide insight into how the market is evolving, what is required of the next generation of support vessels and where future opportunities exist.
Also in this session, Maritime Strategies International’s senior offshore energy market analyst, Todd Jensen, will summarise the latest offshore wind projects in South Korea, Vietnam, Japan and Australia, provide growth forecasts for the short, medium and long term and assess the existing and future challenges.
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