KUALA LUMPUR – Marine & General Bhd anticipates a gradual recovery in Malaysia’s offshore oil and gas sector, with exploration and development operations expected to rise between 2026 and 2028. The group’s upstream view remains cautiously upbeat, boosted by long-term vessel contracts and expected increases in offshore activities. However, competitive vessel charter rates, growing operating expenses, and stronger Environmental, Social, and Governance (ESG) standards continue to pose significant hurdles. The predicted rebound may boost demand for offshore support boats, maintenance services, and marine waste management, such as oily sludge treatment and scheduled garbage collection.
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(Source: The Star)