Offshore Market Update 2023 Q4

Offshore Market Trends & Developments

Market sentiment is improving and companies including Tidewater and Subsea7 have reported strong earnings. Few owners are ordering newbuilds, instead focusing on S&P and consolidations, as evidenced by Britoil, Rederij Groen, Golden Energy Offshore and AD Ports acquisitions.

Driven by lack of newbuilds and increasing demand from charterers, Clarksons offshore index has reached a 15 year high with many offshore sectors experiencing vessel scarcity and increasing rates. Broking shops including M3 Marine and SSY have been ramping up hiring in expectation of this continuing.

Decarbonization and Renewable Energy Focus: Newbuilds being commissioned are supporting renewable energy projects, like cable-laying vessels for offshore wind farms, reflecting broader global decarbonization goals. Environmentally focused investments include Bourbon Horizon’s partnership with Green Ship Invest and Amogy to build ammonia powered e-PSVs, and Jan De Nul’s new cable-laying vessel with biofuel and green methanol capabilities. Despite limited low carbon fuel availability progress is being made. One example is Østensjø Rederi offering charterers the option to bunker biofuel on their tug, demonstrating how both commercial and technical innovation is required to manage the challenges of energy transition.

In this transformative landscape, professionals who can demonstrate decarbonization accomplishments or introduce innovative solutions are becoming increasingly valuable. The drive towards a greener maritime sector is a strategic imperative, calling for leaders and future leaders who can navigate these evolving dynamics.

A recovering and bullish market can lead to increased hiring needs. Strategic roles that can navigate and capitalise on the opportunities available amidst the evolving market dynamics, as well as specialist technical and commercial talent expert in high demand vessel types and market niches.

The growing demand for key talent presents a retention challenge. Cultivating an attractive and authentic company culture, offering clear career development paths and opportunities for upskilling, and competitive remuneration is crucial for keeping top talent.


Talent Moves in the Offshore Market

  • M3 Marine set up UK branch with Robert Day joining as Managing Director and Charles Long as Director / Offshore Broker. Both picked up from VesselsValue where they were Head of Offshore and Commercial Analyst for Offshore respectively.
  • Gavin Lim steps into the role of Director BD & Commercial at Vallianz Offshore & Marine, previously Director Asia Pacific at Royal IHC.
  • Luca De Lorenzi Cavallari becomes Project Director at Subsea7 in Paris, after his stint as Project Director / Senegal & Mauritania Country Manager at Saipem.
  • Wagner Silva is now CEO at Seagull Offshore, succeeding his role as Country Manager for Petro Services in Angola.
  • Eirik Landaas Nilsen set to join Frigstad Group as CEO, having served as Director of Sales, Business Development & Transformation at MacGregor.
  • Andrew Tay takes on the position of Manager, Technical DP Vessels at POSH Fleet Services in Singapore, moving from Metizoft where he was Inspection & Survey Manager.
  • Ann-Marie Fowler becomes Head of Health & Safety at Petrofac, transitioning from QSSHE Manager at Perenco.
  • Stephen Moore steps into the role of Director of Major Projects at Oceaneering in the UK, previously with BP.
  • Derek Hibbard takes charge as Head of QHSSE at Fugro Americas, formerly Global Head of HSSEQ Compliance & Performance Improvement at Seadrill.
  • Philippe Kavafyan appointed CEO at Venterra Group, joining from Aker Horizons where he was Executive Director.
  • Rendy Ariffin moves to Vice President Offshore Operations at Sapura Energy Berhad in Malaysia, previously Head of Indonesia at Rocktree.
  • Mohd Azhari Jahiman joins OneSubsea in Malaysia as Project Director, previously Manufacturing Site Manager at TechnipFMC.
  • Edwin van Maldegem becomes Managing Director, Europe for Subsea Global Solutions in Belgium, following a long career with Rolldock.
  • Wiliam Ross now Project Director at Ocean Installer, previously Head of Projects at Maersk Supply Service.
  • Luis Piecho steps up as Country Manager Angola at Petro Services, formerly Head of Kenya & Uganda Cluster at PIL.
  • Stine Lynge Sorensen appointed as Chief People Officer at Maersk Supply Services having previously consulted for them.
  • Artur Gaynulin is the new Regional General Manager (APAC) Survey & Robotics at Ashtead Technology in Singapore, joining from Acteon Group.
  • Mark Kachouh takes on the role of Managing Director of Middle East at Petro Services in Dubai, previously General Manager Commercial at Britoil Offshore Services.
  • Crowley appoints offshore wind veteran Christy Guthman as vice president of business development for its Wind Services business, joining from GE Offshore Wind in the USA.


Upcoming Events and Activity 

Our team will be attending Subsea Expo, Aberdeen in February 2024. If you are in town and would like to meet then reach out to us.

  • UPCOMING: Commercial Director search in the pipeline for Q1 2024

Majority of our searches, given their specialized nature and our clients’ specific needs, are being managed discreetly and are not open for public advertising.

We understand the value of inside knowledge in this dynamic sector. Should you be interested in deeper insights into unique opportunities and a broader perspective on market trends, we invite you to connect with us. Rest assured, all discussions will respect the confidentiality requirements of these positions and our clients.


About Ignition Global

Ignition Global are an Independent Talent Acquisition Strategist and experts in the shipping and offshore markets, helping our clients with their most difficult talent acquisition challenges. To find out more about our Talent Acquisition Solutions visit us here.