Thanks for the feedback, I've heard of them actually and yes they are expanding into Peninsular Malaysia and servicing quite a few field operators and vessel/rig owners. I'll look them up for sure.

PMed. Sorry for the late reply.

What are the thoughts of the experts regarding the drop of the oil price which was steadying/hovering around the USD70 mark and expected to increase gradually for the remainder of the year and then into 2019?

Next year looked like the year that drilling activities will pick up again and that may still continue but I'm worried too.

Thanks for the feedback. Overall, I guess the 'wait and see' approach is in play?

Wow, that's a true reality check.

Hi everyone.

I guess, the latest oil price set back is again worrying me.

This is because I'm working for a shipping agency and total logistics solutions provider which is heavily reliant on oil & gas/offshore projects (optic cable-lay, dredging). Thankfully, we weathered the storm from 2014-2017 but weirdly when things were picking up in 2018, somehow we suffered quite a bit.

So this recent drop in the oil price has me worried about my upper management's expectations of the commercial/sales team of which I am a part of. Does anyone know if PETRONAS still intends to bring in the 20+ rigs for 2019 which they announced a few months back? When they announced that I thought for sure the international owners would be back - guys like Seadrill, Odfjell Drilling, Vantage, perhaps even Rowan.

We faced this domino effect when it started back in 2014 - basically lesser operations upstream = less vessels working and less need for agency services/logistics etc. But after the tough year we had in 2018, I'm not quite sure how it will pan out for us in 2019.

Of course things may change for the better - we never know but I'm just trying to prepare myself for the worst incase it happens. The climb up to USD86 took many years and it dropped to USD52 within a matter of months, less than a quarter of a year in fact.

If our company needs to change directions and cater to more onshore logistics and target power plant type projects for example then it is something I think we should consider.

Just wondering if any of the experienced here can give their wise opinions on the whole situation.

I hear you and we are aware that there are many logistics companies that cater to power plants and such. As for spoiling the market - if you mean price-wise, I doubt that we will be a contributor as we have certain margins to maintain. But experience wise, on paper we have the capability - it's just on the execution part which might have me worried.

Thank you for the feedback. Those are well-known names in the industry which also provide as tough competition to us.