Deadly Nigerian Oil-Blast Ship Has Peers All Over the World
Comment of the Day

February 22 2022

Commentary by Eoin Treacy

Deadly Nigerian Oil-Blast Ship Has Peers All Over the World

This article from Bloomberg may be of interest to subscribers. Here is a section:

The American Bureau of Shipping, which classifies vessels for their operating safety, last year raised the need to address safety issues such as structural integrity and maintenance challenges around the global fleet of FPSOs, with over 50 of them reaching the end of their design life in the next five years. More than half are over 30 years old and a quarter over 40 years old. 

Eoin Treacy's view

Aging infrastructure is rarely the top priority for producers. The oil sector is reluctant to commit capital at present because there is a lot of uncertainty about how those investments will be viewed by both investors and the media.

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