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Credit: MSI Credit: MSI
The OSV sector will be reliant on a hitherto unseen amount of scrapping to balance the market, writes Gregory Brown, Associate Director – Offshore, Maritime Strategies International
There is a consensus that an OSV market recovery will only be driven a supply side rationalization. As well as a lack of newbuild activity, that rationalization will have to include unprecedented levels of scrapping in a market which has historically witnessed only limited levels of attrition.
That limited level of attrition has several deep-seated roots, most notably weak scrap values, a fragmented supply chain, and low idle costs (~ $1,000/day). These fundamentals are unlikely to change. Scrap prices are likely to remain weak, the fleet will remain fragmented, and OSVs will continue to be unattractive for scrap yards.
Kim Heng forms JVC with Ruhm Marine to expand offshore marine business in Malaysia theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
February 09, 2021
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There are many things to look forward to during Chinese New Year. The company, the red packets, and most importantly, for some of us to say the least, the food. And aside from the rounds of hotpot and baked goodies we’ll be filling our tummies with, there is one main staple that many of us can’t live without the bak kwa.
From brands like Lim Chee Guan to the iconic Bee Cheng Hiang, we scope out the best places to get delicious slices of bak kwa in Singapore just in time for the Chinese New Year festivities.