ShippingWatch

Sea Asia: China poised for dominance of the offshore market

The demand for oil and gas will increase markedly over the next 30 years and more than half will be delivered to Asia and Pacific. Consequently, China is now ready to win market shares even though there are still obstacles to overcome.

Photo: Ole Jørgen Bratland/Statoil

SINGAPORE: While many of the delegates at Asia’s biggest shipping conference Sea Asia are down in the mouth due to the crisis within the industry, the tone was somewhat more upbeat during the afternoon discussion of the offshore market in Asia.

“There is still an increasing demand for energy because the world is still dependent on oil and gas to drive the growth”, said Y Y Chow from the major Singapore-based player on the shipping market, Keppel.

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