Menon recently presented this year’s equipment report to 400 participants at the Shipbuilding Conference in Ålesund, Norway.
The analysis shows a sharp decline in activity and profitability in recent years. 2017 also appears to be a weak year, with continued decline in activity and low profitability
As regards to further development, a number of indicators show that developments in 2018 will also be marked by a decline, but we expect the decline to be lower than in previous years.
Order reserves fall and market prospects for key segments such as offshore oil and gas and traditional shipping are characterized by overcapacity.

However, 2018 can be the year to reach the bottom when it comes to activity and profitability. Earlier major activity cuts combined with the transition to new markets mean that one is likely to see growth again soon. The companies themselves are very positive, and nearly six out of ten respondents expect growth already next year.