The Norwegian Shipowners’ Association issued ‘Maritime Outlook Report’ for 2016 presenting developments in the industry during last year as well as expectations for the current year. The outlook indicates that 2016 will be an extremely difficult year for many segments of the maritime industry. Following five uninterrupted years of growing income, turnover fell in 2015. The prognosis is for this decline to continue into 2016.
As of February 2016, 101 offshore vessels belonging to Norwegian Shipowners’ Association members were in lay-up. If the shipowners’ prognosis is realised, this number will grow by 10 by the end of June 2016. A significant increase is expected in the number of stacked rigs. As of February 2016 the total was 16, and offshore contractors expect this number to rise to 23 by the end of June 2016.
Shipowners also anticipate more staff reductions in 2016. In all, between 4000 and 4500 employees are expected to be laid off or terminated over the course of the year, compared to 7300 in 2015. Available training positions are expected to fall by around 200 in 2016. The majority of reductions will be Norwegian apprenticeships in the offshore contractor and offshore service segments.
The Norwegian Shipowners’ Association is of the opinion that the government’s Maritime Strategy, and the measures now being carried out, provides a good basis to continue developing the Norwegian maritime cluster.
Status and Trends
- Stable development for the Norwegian-controlled foreign-going fleet
- The Norwegian-controlled mobile offshore unit fleet in decline
- Orders drop from Norwegian international shipowners
- Orders for mobile offshore units also decline
Maritime Outlook
- The maritime industry creates significant value
- High levels of competence lead to high productivity and high wages
- Shipowners anticipate lower turnover in 2016
- Shipowners expect weaker profitability in 2016
- Shipowners anticipate further staff reductions
- Shipowners expect a tighter capital market
- Germany will be the most important market for short sea shipowners
- China and the USA will be the most important for deep sea shipowners
Explore more by reading the report
Source: www.rederi.no
