In the first quarter, out of an overall $14.1bn contracted in the world, $7.2bn was invested in offshore such as FPSO, drillships and offshore support vessels (OSVs), $2.4bn in LPG/LNG carriers, $1.8bn in tankers and $1.4bn in bulkers.
During the same period, about 199 vessels of a cumulative 3.8m cgt were contracted, of which 60 were OSVs, 25 product carriers, 22 LPG carriers, and 10 LNG carriers.
The offshore sector is in a sweet spot as E&P expenditures by oil majors are high on firm crude oil prices, prompting demand for offshore vessels, drillships and rigs.
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