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Latest From Offshore
In the first half of the year, earnings before interest, taxes, depreciation and amortisation rose 83% to $141m from $77m
Some specialist insurers have announced that insured vessels will automatically still be covered, at no additional premium, until policy renewal, with the new limit applying if it exceeds current policy limits
The oversupply situation within the OSV sector continues to pose challenges for service providers as charter rates remain depressed amid competitive conditions
Nam Cheong jumped into the chartering market, expanding its fleet to 34 vessels at the end of June and achieved high utilisation rates to push gross profit 81% higher to RM32.4m and raise overall gross profit margin to 31%
Better supply conditions are expected in the second half of the year as vessels are taken out of service for scrubber retrofits and rising US exports boost tonne-mile demand
South America has 12 sanctioned FPSO projects planned by the end of 2020, with Brazil alone is set to award seven more projects in 2020. This is followed, albeit somewhat distantly, by Asia with four
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