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it seems to me that one challenge that This may be repetitive from the pre- for the level of the activity in the search niche or by world region, where do the shipping industry has always had is vious, but how is the low price of oil for oil and all activities connected to that. you see opportunities for EDDA in the the over optimistic belief in the market impacting your company today? Since we operate in the oil service busi- coming 12 months, and why?

at times when the brakes should/could ness we are off course subject to these have been put on. I believe history has One should think that a low conditions and less activity means less I do not have hands on infor- shown numerous times that ship owners oil price was good for anyone operat- available projects and more competition mation on this, however it is my under- have ordered way too many ships and ing ships since we are high users of oil, for the few projects that materializes. standing that the most likely opportuni- because of that having to put vessels in however it may not be so for the offshore ties in the next 12 months are in the Gulf lay up as seen recently with the container business since the oil price is important Looking at the markets you serve, by of Mexico, West Africa, and Australia companies and the offshore companies.

At this time, several new accommoda- tion vessels and units are under construc- tion and will be entering the market in a time where we see a slow market and naturally the oil majors will push the dai- ly rates towards the low end. Also it is important to control the spending, this is something for the economists to explain but I guess there should be a certain bal- ance between what you potentially can earn and what expenses you can have.

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We often write regarding emerging regulation and its impact on ship own- ers. Looking at the broad legislative landscape, what do you see that you think will have the biggest impact on

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How are you preparing now to dull

Abrasive Waters that impact?

When it comes to emerging

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Looking at the market you serve, give a short “market update” on the condi- tions you see now.

The present market is slow due to falling oil prices as oil majors seems

The new TG100 shaft seal combined with Thordon RiverTough to cancel or postpone their planned proj- propeller shaft bearings offer long wear life ects which were based on high oil prices.

As for us (Edda Accommodation) we are and reduced downtime for your vessels.

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HSE & Q.

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