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Price .... lower oil prices to be an issue at the back end
of the decade

Marine industry challenges in focus at Seatrade event

ABU DHABI, August 4, 2015

The current issues and challenges impacting the marine industry today will be covered at a biennial conference in Abu Dhabi, UAE in October.
 
The Seatrade Offshore Marine and Workboats Middle East, a leading event for offshore marine-related industries, workboat operators, builders and equipment suppliers, has revealed details of its 2015 conference programme with a stellar line-up of industry influencers and decision makers confirmed to speak at the event.
 
The fifth edition will run from October 5 to 7 at the Abu Dhabi National Exhibition Centre (Adnec).
 
Vanessa Stephens, managing director, Middle East and Indian Subcontinent, Seatrade, said: “The workboat and offshore industry is incredibly dynamic and complex, and with the existing low oil price situation dominating the market environment, the high level of unpredictability affecting operators, owners and the marine sector as a whole is forcing players to re-evaluate their strategies to mitigate negative commercial repercussions.”
 
Three experts will discuss the current business environment and market outlook as well as look at effective resource allocation to ensure profitability in an increasingly competitive market environment.
 
Another highlight of the day one schedule is the Marine and Offshore Leaders Forum, which will look at the future direction of the workboat and offshore sector as oil and gas price volatility continues to destabilise market conditions. 
 
While previously high energy prices have been a successful catalyst for supply growth, lower oil prices have sparked a major shake-out of cost in the industry, said a statement.
 
One of the forum speakers Bill Farren Price, chief executive officer, Petroleum Policy Intelligence, said: “The big question is whether lower oil prices will be sustainable if the needed upstream investment fails to come through. Not a problem for the next year or two, but will certainly be an issue at the back end of the decade.”
 
The forum will deliver a frank and honest evaluation of the industry’s current status through a series of interactive power sessions that will give delegates expert insight into the latest commercial developments and future market outlook as well as share their own experiences and strategic commentary, said the statement.
 
The various forum sessions will also analyse supply and demand drivers in relation to order book potential; look at solutions for success and securing new contract wins; the perspective of national oil companies versus contractor expectations; the shipyard outlook; and regional insight/opportunities from the Red Sea to the Caspian, Africa and South Asia.
 
The day two and three sessions this year include The Shipbuilding Technology Forum; The Human Element; a Finance Forum as well as two special regional ‘power hours’ about operational issues in the Caspian, with another dedicated to Africa, it added. - TradeArabia News Service



Tags: abu dhabi | industry | Conference | Seatrade | marine |

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