Articles - 2008
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Shipbuilding: Choppy Waters Ahead - 02 Jun 2008
Newbuilding orders in 2007 amounted to a huge 250m dwt according to statistics published by LR Fairplay. Although the fourth quarter reflected something of a slowdown from the previous quarter, the reported 58m dwt of orders (primarily in the dry bulk sector) was still historically high. These figures are all the more striking given the turmoil affecting the financial markets since Autumn 2007 and the more depressed global economic outlook generally.
Download: Shipbldg Choppy Waters RFP.pdf
Delay Risk in Offshore Construction Contracts - Avoiding Being a "Victim of Circumstance" - 02 Jun 2008
The latest Upstream Capital Costs Index issued in May by Cambridge Energy Research Associates (CERA) shows that costs associated with constructing new oil and gas upstream facilities have increased by an average of 6% in the past six months and have doubled since 2005. The highest cost increases were recorded in the market for specialised deepwater equipment, particularly umbilicals and control systems. CERA attributed the 12% rise in the cost of such equipment to continued manufacturing constraints, coupled with higher materials and labour costs.
Download: Delay Risk in Offshore WAC.pdf
"Human element to put the brakes on LNG's advance?" - 02 Jun 2008
There has been a great deal of attention in the current financial climate about the 'credit crunch', which is impacting all industry sectors, including shipping. However, in the shipping industry, one of the prevailing concerns in recent years, and one that is likely to persist for the foreseeable future, is what one commentator recently dubbed the 'crewing crunch'. The issue has arisen because of both the existing and anticipated significant shortfall in seafarers and qualified officers capable of fulfilling roles on vessels. Specialist industries, such as LNG, are expected to be hardest hit because of the additional skill levels required says Glenn Kangisser.
Download: Human Element GJK.pdf
