Page 38: of Marine News Magazine (November 2016)

37 39

OFFSHORE: UPDATE

As Operators Look for the Bottom,

Gulf Gloom Persists

Credit: Yesenia Rodriguez

Gulf of Mexico vessel operators want to see sustained, higher oil prices.

By Susan Buchanan fter a rough two years, supply boat owners and op- vessels many not get any better for another two years or erators in the Gulf of Mexico hope crude oil prices so. With a ? eet of 22 crew boats and supply boats, New will improve in 2017. That would encourage activity Orleans-based Laborde Marine has an operations of? ce

A among the offshore drillers that they service and would put in Morgan City, La. The ? rm’s international unit pro- unemployed boats back in the water. Vessel owners aren’t vides offshore supply vessels and line handlers in Brazil’s necessarily banking on a good year ahead, however. Rio de Janeiro area. “Utilization of OSVs and PSVs in the Gulf is below In early October, buoyed however brie? y by hopes that 50 percent now, down from about 70 percent a year an OPEC production cap would provide price supports, ago and 90 percent two years ago,” Peter Laborde, Jr., West Texas Intermediate crude reached $51.50 a barrel on founder of Laborde Marine, estimated in early October. the New York Mercantile Exchange, up from $41.25 in “Of course, we don’t know where crude oil prices will mid-August. As MarineNews went to press, stability in the go from here.” He fears the region’s demand for supply oil markets was anything but certain, however.

November 2016

MN 38

MN Nov16 Layout 32-49.indd 38 10/21/2016 2:32:20 PM