Originally Posted by
Mee3
when you see that AW is dumping 169 at high 6 mil you know wheres the market.
But OEMs somehow come up with the same conclusion that the market will bounce back in foreseeable future. And they are burning cash flow to flood the market when low so they are "prepared for the market comes back".
The problem this time is fracking and to a certain extent renewables. As soon as the price moves up the US completes more wells. Renewables provide a small but no longer insignificant share - this will increase. Supply will not be an issue for some years,if at all. The N/S will still survive but will be leaner - with smaller operators and a greatly reduced cost base. Statoil will hang on in there; there have even been new discoveries - one very significant. But increasingly it will be the preserve of specialists. - but there will be no return to the status quo of mega platforms and mass transit.
It will be a very different North Sea with different transport needs.