Business stays strong heading into the show
November 12, 2012
For the workboat industry, I don’t think it mattered much
who won the election last week. Why? Because I believed that under either Obama or Romney, the industry would not only be OK, but it would continue to gain strength next year and into 2014.
A big reason is the continued post-Macondo bounce in the
Gulf of Mexico. Since early last year, growth in the U.S. Gulf rig and OSV markets has been steady. Throughout 2012, deepwater offshore permitting has
continued to increase.
Shipyards have also started to refill order books. For Gulf
yards, much of it is tied to the rebound offshore, and big fleet expansion
plans from Harvey Gulf, Hornbeck and others. But other U.S. shipyards are filling
slots with tugs, towboats, barges, ferries and other passenger vessels.
And despite the drought shaving a few pennies from quarterly
earnings, barge operators are still doing OK and continue to show discipline,
keeping barge supply-demand close to equilibrium. There was also some good news
in the passenger vessel sector this year with the return of overnight
paddlewheelers to the Mississippi River.
This should make for a great International WorkBoat Show. Once
again, it is expected be our biggest show ever, with thousands of products and
services on display. The show is set for Dec. 5-7 in New Orleans and exhibit
hall registration is free through Dec. 4. You can register here.
For complete information, go to the International WorkBoat Show.