Asian Offshore Support Journal (AOSJ) Conference
About two weeks ago, I attended a two-day conference in Singapore - Asian Offshore Support Journal (AOSJ). This is an event where industry people gather. To explain simply, the Offshore Support industry consists of companies that own, build or in one way or another related to the Offshore Support Vessels (OSV) supply chain.
source: Asian Offshore Support Journal
Familiar names of OSV companies listed in the SGX are – Nam Cheong, Pacific Radiance, POSH, Swissco, EMAS and Triyards (subsidiaries of Ezra Holdings), Falcon Energy, Vallianz etc.
Speakers included in this event are:
- EMAS - Jon Dunstan, CEO (replaced as CEO on 25 Sep)
- Nam Cheong - Leong Seng Keat, CEO
- Pacific Radiance - James Pang, MD Commercial & Business Devt
- POSH - Lee Keng Lin, COO
- Swissco - Sam Kwai Hoong, Hd OSV
- Triyards - Chan Eng Yew, CEO
Day 1 - 8 Sep 2015
Today’s oil price only partially explains present market difficulties in the offshore support vessel sector, DVB Bank’s head of shipping and offshore research told delegates at Riviera’s third annual in Singapore on Tuesday. The sharp decrease in the oil price partly explains the present recession in the OSV sector, Henriette Brent-Petersen told an audience of more than 200 industry professionals, including representatives from some of the industry’s leading charterers, owner/operators and suppliers. Cost inflation, a reduction in the barriers to entry for offshore shipbuilding and the fact so many companies are highly leveraged also play a significant part.
Drawing parallels with the bulk carrier market, Ms Brent-Petersen warned that shipyard overcapacity and the fact newbuilding production cycles are so fast, means that the sector risks "killing any rebound in the market before it even starts".
Day 2 - 9 Sep 2015
Delegates at Riviera’s Asian Offshore Support Journal Conference in Singapore heard that Malaysia is Southeast Asia’s star performer. Confidence was also expressed in offshore India, West Africa and in the Middle East.
However, offshore Brazil remains a frustrating market and the Mexican Gulf is falling short of the hype seen a year ago.
Effects on Keppel, Sembcorp or Ezion?