Sometimes all the pieces fit. Sometimes all the stars align. For the subsea market that doesn’t happen often. Or doesn’t last long. Or gets messed up. This time it might be different.
The subsea market has already started to rally and has a lot more to come. Despite those in authority obsessing and cultivating their green images, oil and gas demand is still growing. Years of under-investment, a war in Ukraine, and a new age of international sanctions have driven commodity prices, which were already rising, to new all-time highs. That really gives the offshore market a kick in the pants and tells it to get back in the game. Energy security and jingoism are back on the agenda too.
No wonder then offshore spending and activity is up. Subsea is reacting much more immediately than before to the key market lead indicators and an assuring level of long-term bookings as well. Normally when that starts, the market self-harms with a folly of newbuild psychosis, but not this time. The schoolings of oversupply are still too serrated for that, and previous sources of ship finance seem obstinately aloof.
All the speculative shipping investment seems only interested in renewables on the back of sky-high market projections. That attention being elsewhere will be to the subsea’s advantage. In any case, there will be tug-of-war dragging ships back from wind-farm work to oil and gas for higher rates and longer commitments. That is catching wind-farm clients on the hop, and some are turning nasty.
A lot is about to happen. The market is about to really heat up, yet the financial community seems to have forgotten that the sector even exists. That seems a paradox, but maybe being under the radar, for now, will be to its long-term advantage.
The latest annual report and forecast horizon is out through 2029 because the market drivers are that long-term. All aspects of what’s going to happen are closely examined in a pithy and engaging fashion. There are lots of questions to answer in this phase of the market, and the new report tackles them all head-on. People need the hard and the fast of what the market will mean for them and their businesses. The latest issue of the forecast does not shy away from any of the issues and for over 20 years has been accurately and diligently making the right calls and providing the answers that count.
Table of Contents
SUMMARY - BACK TO REALITY, BACK TO LIFE
