Oil price rebound may boost O&G contracting
But yards are diversifying into adjacent markets instead of holding out for O&G contracting to return to pre-crash levels
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Singapore
A REBOUND in oil prices towards the end of 2016 - if sustained through 2017 - may stimulate a recovery in offshore and marine contracting activity linked to conventional upstream oil and gas (O&G) projects.
But listed yard groups have not been holding their breaths for conventional upstream O&G contracting to ramp up to pre-oil crash levels. Instead, they have sought opportunities from adjacent markets, some of which are driven by a slew of recently introduced regulatory updates.
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