The Maritime and Offshore exhibition Sea Asia took place in MBS this week and I was there. It is my 17th year in the industry. I met many old pals, although the number of them still active in the industry has significantly declined. Had many chats and below are some of the key takeaways? The big question: “Has Marine and Offshore Industry Recovered?” Still at Bottom! I am not too sure if the industry is recovering? But one thing I am certain is “we are still at the bottom of the cycle”. Obviously when you hit rock bottom, the only way next is up! That said, it is unlikely that we will not be anywhere near the glorious days for the foreseeable future. The sentiments from the show is definitely not that rosy in my opinion. News of recent retrenchments and pay cuts are not unheard, and it is very
Has Marine and Offshore Industry Recovered?