Page 4: of Offshore Engineer Magazine (Jan/Feb 2025)

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EDITOR’S LETTER

On cue, the Trump administration roared back into the White House on January 20, 2025, and per campaign promise has immediately put the brakes on offshore wind energy and doubled down on commitments to oil and gas. It will be months to effectively gauge how this – plus a bevy of additional economic seismic shifts – will impact energy ?ows and markets globally, but for now the U.S. will be pumping more oil and Vol. 50 No. 1 gas into the world market. The U.S. Energy Information Administra-

ISSN 0305-876x USPS# 017-058 tion’s (EIA) latest Short-Term Energy Outlook has forecast that U.S. crude oil production will average 13.59 million barrels per day (bpd) in 118 East 25th Street, 2025, up from its previous estimate of 13.55 million bpd; and that U.S.

New York, NY 10010 natural gas output and demand will both rise to record highs in 2025, with tel: (212) 477-6700; fax: (212) 254-6271 dry gas production projected to rise from 103.1 billion cubic feet per day www.OEDigital.com (bcfd) in 2024 to 104.6 bcfd in 2025 and 107.3 bcfd in 2026. With that,

Brent crude prices are projected to average $74 per barrel in 2025, before

EDITORIAL

GREGORY R. TRAUTHWEIN declining to around $66 in 2026, re?ecting anticipated increases in produc-

Editor & Publisher tion and modest global demand growth.

AMIR GARANOVIC

While the impact on U.S. offshore wind has been widely expected for the

Managing Editor [email protected] past year, a development con?rmed anecdotally with a relative paltry turnout for a mid-January ?oating wind event in Houston, Phil Lewis, Director of

BARRY PARKER, New York

WENDY LAURSEN, Australia

Research at Intelatus and a global authority on offshore wind and offshore energy matters at large, said in a recent interview that “It’s not the death of

PRODUCTION / GRAPHIC DESIGN

U.S. offshore wind. While some projects may face delays and investment slow-

NICOLE VENTIMIGLIA downs, the market’s reliance on established European supply chains and its [email protected] growth potential support a resilient future.” While the U.S. pumps the brakes on offshore wind, the market internationally grows at speed, particularly in

SALES

TERRY BREESE, VP Sales

Europe and Asia.

+1 (561) 732-1185 | [email protected]

Cumulatively this impacts various vessel sectors serving offshore energy,

JOHN CAGNI and in this edition we have a trio of reports to offer guidance on vessel trends [email protected] | +1 631-472-2715 that impact offshore operations.

FRANK COVELLA FPSOs are mammoth, CapEx intensive units that take years to build, [email protected] | +1 561-732-1659 with only a handful of yards globally able to build them. ABS’s

MIKE KOZLOWSKI Matt Tremblay, VP, Global Offshore said that while demand for [email protected] | +1 561-733-2477 FPSOs remains steady, the prices are soaring.

GARY LEWIS, Panama In the OSV segement, Fearnley Offshore Supply’s Theodor Sørlie, (516) 441-7258 | [email protected] Senior Analyst, writes that all OSV segments are not created equal,

Check out the with large AHTS’, in particular, experiencing high volatility.

CORPORATE STAFF

CEO 2025 Media Finally, Phil Lewis and Intelatus recently issued a report that takes

JOHN O’MALLEY

Kit via the QR a deep dive into the SOV/CSOV sector, a segment that is rapidly [email protected]

Code Below expanding through 2028, with some early signs already of over-expansion.

President & COO

GREGORY R. TRAUTHWEIN [email protected]

IT Director

VLADIMIR BIBIK

Public Relations

MARK O’MALLEY [email protected]

Accounting

ESTHER ROTHENBERGER

Gregory R. Trauthwein [email protected]

Editor & Publisher

Circulation [email protected]

KATHLEEN HICKEY [email protected] m: +1-516.810.7405

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