Oil & Gas Transportation and Storage

  • OIL & GAS TRANSPORTATION AND STORAGENEW AT APM 2018
OIL & GAS TRANSPORTATION & STORAGE NEW AT APM 2018
Credit: David Hughes, Freelance Maritime Journalist, United Kingdom

Cautious optimism in tanker sector

OIL

LOWER OIL PRICES DRIVE UPTICK IN TANKER BUSINESS

The precipitous drop in oil prices since mid- 2014 has led to an uptick in global oil demand and a boost in shipborne tanker trade and freight rates. Newbuilding of crude oil tankers is on the rise as well.

Unlike dry bulk shipping, the drop in crude oil price has resulted in increased consumption/demand. While there is an oversupply of crude oil, there is a healthy demand which is driven by low prices, availability of funds in developed countries and refineries throughput.

Who will you meet?

  • Oil & gas product tanker owners and builders
  • Suppliers and product manufacturers
  • Tank services and supplies
  • Tank terminal/storage operators
  • Tanks and storage fabrication

LNG

Asia will continue to play an important role in the global demand for LNG. As it is, Asia Pacific accounts for more than three-quarters of global LNG demand. LNG demand in Southeast Asia is also expected to rise. Between 2000 to 2013, we have already seen energy demand in this region (Southeast Asia) increase more than 50%.

Opportunities for LNG in transport are also increasingly being realised. “The reason for our optimism is that almost 125 million tonnes of capacity is currently being built and there are plans for more. As a majority of the supply from plants under construction has been contracted on long term agreements, it is likely that LNG will be traded so requiring more vessels”, said Shresth Sharma, Drewry’s lead LNG shipping analyst.

“By virtue of its geography, Singapore enjoys provides a natural location from which larger LNG carriers could break-bulk and re-load onto smaller regional barges for “milk-run” LNG deliveries.” said Mr Seah Moon Ming, Group Chief Executive Officer, Pavilion Energy Pte Ltd.

Ride the waves of opportunities in the Oil & Gas Transportation and Storage market at APM 2018.

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