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Why local content matters in southeast Asia

Wed 11 Oct 2017 by Edwin Lampert

Why local content matters in southeast Asia

Riviera’s head of content, Edwin Lampert, on lessons learned from Riviera’s Asian Offshore Support Journal Conference

I am not long back from Riviera’s Asian Offshore Support Journal Conference. The conference is rightly seen as a bellwether for the industry. So what were the talking points?

Well, discussion inevitability centred on scrapping and prospects for market recovery. Of the 137 questions asked by the audience across the two days, four of the most popular addressed scrapping.

Happily, the conference heard that there were some signs of market recovery emanating from southeast Asia, especially in offshore drilling and off Maynmar. But there was a note of caution for those invested or looking to invest in the region. “Many businesses, especially international non-Asian businesses, have treated Asia Pacific as one area,” Westwood Global Energy Group’s Thom Payne told the gathering. They have had a regional hub in Singapore, open registry vessels, and they have attempted to penetrate these large demand centres in Malaysia, Indonesia and Thailand, Vietnam and so on…But what we have seen over the last five years is a very acute sharpening of local content policy in Indonesia, Malaysia and Thailand. Once this happens the ability to run a southeast Asia business from Singapore will be significantly diminished.”

Riviera’s commitment to the region remains undimmed. We return to Singapore next month for two events – our inaugural Asian Emissions Technology Conference and the third Asian Marine Engineering Conference. We will also be welcoming our newest member of the Singapore team – an Asia editor. A key step in Riviera’s strategy of sharpening its local content policy.

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