Despite the contradictory trends currently afflicting the oil industry - insufficient expansion to meet demand from emerging markets and the collapse of short-term demand due to the recession - prospects for the offshore vessel sector look promising in the medium and long term. Day rates for rig moves have recovered from the slump of the beginning of the year, although they are far from the highs of October 2008 and November 2007 (see Figure 1).rnOver the next five years, Lloyd's Register-Fairplay Research expects the offshore fleet to grow by 4.4% annually in numbers and 4.6% in dwt (see Figure 2). Removals will be 24% higher than in 2004-2008 and ordering will halve.
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