ShippingWatch

DNB: Oil companies could reduce plans for newbuildings

The oil companies' investment slowdown could halt the demand for newbuildings, for instance supply ships, thus preventing another boom, says Kristin H. Holth, Global Head of Shipping, Offshore & Logistics at DNB.

Photo: Stig B. Fiksdal

No matter how bad something is, there is bound to be someone, somewhere, who stands to benefit from it, they say. And this is how major Norwegian bank DNB feels about the oil industry's collective decision to scale down investments in the coming year, a consequence of higher costs and reduced revenues.

And this development could mean that the offshore industry will hold out on placing newbuilding orders for drilling rigs as well as supply vessels, says Kristin H. Holth, Global Head of Shipping, Offshore & Logistics.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Price of Maersk's new methanol ships drops

Maersk has just ordered six new methanol-powered container ships and now reveals that the added cost of building green ships compared to conventional ones is decreasing. Economies of scale, says equity analyst.

Esvagt pursues Taiwanese offshore wind

The Danish offshore service operator has located a possible partner on the island as a part of high hopes for the local offshore wind market. If successful, Esvagt could be ready to service wind at sea in the far east in a few years.

Related articles

Latest news

See all jobs