On March 18, 2026, the Trump administration announced a 60-day suspension of the Jones Act in response to the global energy crisis triggered by the ongoing Iran War and the effective closure of the Strait of Hormuz. The Jones Act, a century-old maritime law requiring that goods shipped between U.S. ports be carried on vessels…
During mid-February, the Trump administration put forward its Maritime Action Plan (MAP) as part of Executive Order No. 14269, “Restoring America’s Maritime Dominance.” There is a real need to increase investment in American shipbuilding and shipping, and the MAP lays out the critical actions required to accomplish this. It does not take much research into…
There are emerging headwinds in the offshore oil and gas industry in the Gulf of America that many operators are citing as challenges to growth in activity in the region. Among these challenges are the rising costs associated with drilling wells in the GOA. Data presented at a recent industry association meeting indicated that the…
Both the ABS Offshore Support Vessel Forum and the WBS were very well attended. In my opinion, this year’s edition of the WBS was the first that felt like it had more attendees than any show since the last pre-COVID WBS. The number of attendees, exhibitors, and related events surrounding the WBS was impressive, signaling…
Oil prices continue to move within a tight range around $60/bbl for WTI. While this price level is more than sufficient for oil and gas operators with activity in the deepwater GOA to make a profit in the region, it limits additional investment to increase production. This is not a new trend, going back to…
Oil prices have declined precipitously over the past year. Year-to-date, the cost per barrel of WTI oil has declined from roughly $80/bbl to roughly $59/bbl, a decrease of $21/bbl, or 26%. Despite this, however, the general trend among major oil producers is that capital expenditures have remained relatively strong. There continues to be a need…
As an industry and company, we are constantly challenged by our clients to drive efficiency and create long-term value. Over the past 20 years, vessels have become significantly more efficient, burning less fuel and offering improved reliability. Technologies such as FuelTrax have been developed to enhance fuel efficiency, while data analytics platforms like Opsealog help…
The market for US Jones Act (USJA) deepwater OSVs has continued to trend favorably for vessel owners. While the seasonal uptick in demand is occurring as expected, the number of deepwater OSVs departing the Gulf of America also continues to increase. These two phenomena are creating a very tight supply in the near term and…
President Trump recently signed an executive order on energy policy entitled Unleashing American Energy. This order sets out to encourage energy exploration and production on Federal lands and waters including on the Outer Continental Shelf as well as ensure all regulatory requirements related to energy are grounded in clearly applicable law. As the President has…
Unsurprisingly, the ongoing energy transition continues to face headwinds. Various governments have made bold proclamations regarding their objectives to slash greenhouse gas emissions over the next few decades. However, this has resulted in far fetched ideas, like fully eliminating internal combustion engine vehicles, some of which has been backed by oil and gas companies now…