'Bumper year' ahead for subsea activity

摘要

Speaking at the Offshore Support Journal Subsea Conference in London in February, Strategic Offshore Research director Ian Mclntosh said an oversupply and under-utilisation of vessels had left rates flat in the subsea sector. "Where are we now?" Mr Mcintosh asked conference delegates. "We are in some pain." While Mr Mclntosh admitted that the market had "turned the corner," the recovery process is expected to be lengthy. He said intense competition and oversupply in the sector had left some vessels being employed in work at less than break-even rates.