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24/11/2014 1 The Role of European Maritime Technology Manufacturers in the Offshore Industy Workshop on Shipbuilding and the Offshore Industry OECD, 24 November 2014 Douwe Cunningham, Secretary General Global Considerations

The Role of European Maritime Technology Manufacturers in the … · 24/11/2014 1 The Role of European Maritime Technology Manufacturers in the Offshore Industy Workshop on Shipbuilding

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Page 1: The Role of European Maritime Technology Manufacturers in the … · 24/11/2014 1 The Role of European Maritime Technology Manufacturers in the Offshore Industy Workshop on Shipbuilding

24/11/2014

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The Role of European Maritime Technology Manufacturers in the Offshore Industy

Workshop on Shipbuilding and the Offshore Industry OECD, 24 November 2014

Douwe Cunningham, Secretary General

Global Considerations

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Source: IHS Fairplay

Newbuilding Capacity

Source: IHS Fairplay

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Source: IHS Fairplay

Connection between oil price, exploration,

number of profitable fields and the need for

offshore vessels

Number of vessels $/bbl real terms (2012)

Oil price as Key Market Driver

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Fossil Fuel to Dominate for Decades Mtoe

Source: IEA 2013. Based on New Policies Scenario

$ trillion Offshore will be the Main Beneficiary

Source: Barclays

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42%

16%

21%

11%

3% 1% 6%

Offshore Orderbook by 1st January 2014 in bn $ per area

Offshore Orderbook (% $)

Source: IHS Fairplay

Source: IHS Fairplay

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Source: Clarksons

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European Maritime Technology Industry Developments

Source: IHS Fairplay

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Passenger Vessels Offshore & ONCV Cargo Carriers

75% Non Cargo Ships

25% Cargo Carriers

SEA Europe Orderbook by Ship Types

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Specialization of European Yards

0

10

20

30

40

50

60

70

2007 2008 2009 2010 2011 2012 2013

Clarkson's Estimation on European Orderbook Value $ bn

Source: IHS Fairplay + Clarkson

Comparing Ratios of $ Bn/ M CGT:

2007:

• 20M CGT / $ 66bn • 45% OB Cargo Carriers • 55% Passenger, Offshore & ONCV

2013:

• 5.7M CGT / $ 30bn • 25% OB Cargo Carriers • 75% Passenger, Offshore & ONCV

2103 Ratio = $ 5.3 bn/m CGT

2007 Ratio = $ 3.3bn/ m CGT

0

5

10

15

20

2007 2008 2009 2010 2011 2012 2013

European Orderbook in Million CGT Million CGT

Source: Clarksons

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Source: Balance Technology Consulting , 2000

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46%

54%

Last decade saw a shift from shipbuilding towards equipment

64%

36%

Vessel

Mission Equipment

76%

24%

Typical Pipelay Vessel CAPEX Development

Driven by deeper waters, harsher conditions and demanding reservoirs.

Source: Royal IHC

Offshore: Maintaining Competitiveness

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Challenges of Specialisation

• Custom built vessels

• System of systems constructions

• Strictest safety regulations

• Most stringent environmental standards

• Emphasis on lifecycle support

Challenges of Entering the Market

• Level Playing Field

• The financial and economic crisis

• High levels of investment needed in the short term

• Close cooperation with designers, manufacturers and builders needed

• RDI intensive

• Oil price fluctuations

• Niche market

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European Efforts to Promote Offshore

• Access to innovation aid to stimulate innovations and prototype development

• Focus on Blue Growth and policies to unlock the economic potential of the maritime economy

• Making most effective use of regional clusters

Thank You For Listening…