Forties shutdown will remove tanker cargoes but boost OSV demand

Clarksons Research believes a looming shutdown of the Forties Pipeline System (FPS) in the North Sea will be generally positive for shipping.

Calum Kennedy, an analyst at the arm of shipbroking giant Clarksons, said delayed maintenance work on the ageing 500-km-long North Sea network has been scheduled for three weeks from 27 May. The project was originally slated for June 2020 but was postponed due to the pandemic.