Marine & Offshore

Petromin Marine and Offshore Jan/Feb 2019



A Marathon, Not A Sprint

A loss of gains over the year were wiped out as prices fell in the last quarter of 2018 due to a drop in demand and over supply.

EIA Short-Term Energy Outlook (STEO)

The following is the February 2019 instalment of the monthly forecast provided by the U.S. Energy Information Administration. 

Global Oil Market Forecast

IEA’s forecast makes a case for the oil market in the next 5 years, up to 2023. Although there have been recent price losses the industry is a lot more stable than it has been in the last few years. 

Natural Gas Boosts Island’s Role 

Singapore will stay relevant in the global marine and offshore engineering (M&OE) industry despite the recent headwinds from a prolonged sectoral downturn. In 2018, the oil & gas sector is expected to continue its recovery, as oil majors adapt to the lower oil prices environment and are better positioned to proceed with final investment decisions.

Government Supports Sector

The Singapore government, especially through the Maritime Port Authority of Singapore, remains in support of the maritime sector, pinning hopes on an industry which has been an anchor for the country’s economy till the recent downturn. 

Bids & Pieces
Scene & Heard



Powering the Seas

Compared to direct diesel drives, diesel electric propulsion systems are technically and operationally superior in virtually all applications. This superiority has been a major reason for the steadily growing demand for diesel-electric main drives in marine engineering applications.

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