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Operators in the offshore market will have to realign their business models and embrace standardisation to cope with lower long-term revenues, leading executives said at Nor-Shipping’s Agenda Offshore conference on Wednesday.
In a seminar entitled “Future of Marine Fuels by 2020/25” ExxonMobil noted that despite much excitement over LNG-fuelled vessels, no one fuel stood out as an obvious panacea for shipowners following the introduction of the worldwide 0.5% sulphur cap.
Diversification is good for shipping companies but only if companies understand the reasons why they are doing it and the risks involved, according to leading shipping executives speaking at Nor-Shipping 2015.