The Marine Offshore Market in the Middle East Region Continues Upturn According To the Marine Offshore Expert
The Offshore Marine and Workboats
2019 to be served as a strategic platform for industry experts and professionals
to discuss and cover the key issues and challenges of the industry
The offshore market in the Middle
East region continues to show an upward progression press release Dubai which makes it the strongest
marketplace from a demand perspective that is attributed to the significant
plans of the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE)
according to Gregory Brown, Associate Director For Offshore Maritime
Strategies International, a maritime forecasting and strategic advisory
firm.
Despite the market being
challenged, he expressed his confidence in the upturn. Aligned with the coming
Seatrade Offshore Marine and Workboats 2019, the leading conference and trade
show for the global Offshore Marine and Workboat industries that will be
conducted from September 23 to September 24, 2019, at the Madinat Jumeirah in
Dubai.
The Offshore Marine and Workboats
2019 will be served as a strategic platform for industry experts and
professionals to discuss and cover the key issues and challenges of the
industry.
According to Brown, the offshore
vessel market is in the early stages of recovery due to the presence of
increased activity and the growing demand for high Dubai Careers specification vessels. The
market downturn experienced in the last five years is now witnessing upturn
marked by the entry of new contract awards and increased utilization and
pricing rates.
Brown shares, “We are currently
on the way to recovering from this five-year downturn, the strongest one felt
since the mid-80s. Despite being seen as a slow recovery, we can see that there
are robust pockets of activity--opportunities that can help us drive in more
growth to the industry.”
Industry experts have said that
the recovery will be seen in a number of phases. There will be an increase in
the number of collaboration and consolidation activities from market players,
which will leave a positive impact on the offshore market.
“The biggest challenge for the
offshore Media marketing Dubai will
be finding its role within the global energy mix. In fact, we have yet to see
final investment decisions because the market went through a structural cost
issue. To address this, we need to effect real structural change and real
structural rethinking of how these reserves are developed because they always
have to look at them in the context of what the alternative investment is. We
won't get that big inflection overnight as fellow industry professionals have
said that we will go through a number of phases before we experience a full
recovery,” Brown concluded.
As part of UAE Maritime Week Dubai Business held under the patronage
of His Highness Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai,
UAE, Sea trade Offshore Marine and Workboats 2019 is expected to connect the
UAE with the international offshore marine vessel and workboat industries.
The exceptional two-day event
will see each and every corner of the Media
Advertising in Dubai industry from offshore marine vessels to ports and
offshore marine suppliers to discuss timely industry concerns, build new
relationships and share industry knowledge.
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