Martyn Wingrove
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Technology still cannot replace human decisions
In his final essay as Lloyd’s List energy editor, Martyn Wingrove reflects on a decade of radical change in the oil industry, the focus of which has switched to developing challenging fields in remote locations
Rise in South America oil demand boosts shipments
Products shipments from eastern Asia, the US Gulf and and Europe to Argentina and Brazil rise
Mature fleet goes into long-term lay-up
Owners put off by high costs and losses that result from demolition
Support vessel utilisation heading for record low
Surge in newbuildings this year set to depress market until end of 2011
Norway splits up field operators and vessel owners
Move to prevent conflicts of interest and to allow units to be redeployed more easily
OSG’s bullish outlook for product tankers called into question
Arntzen’s predictions of shrinking MR fleet are disputed, but LR1 outlook more positive