International Maritime Associates, Inc.

International Maritime Associates, Inc.

International Maritime Associates (IMA) is a firm of business consultants specializing in market analysis and strategic planning for companies in the marine and offshore sectors.

We provide

  • the front-end research needed to size the available market, analyze customer requirements, benchmark market position, identify new business opportunities, evaluate market positioning options and assess potential acquisitions or strategic alliances.
  • Since formation in 1973, IMA has performed over 350 consulting assignments for clients in more than 40 countries.
  • World Energy Reports (WER) was cofounded by IMA in 2014 and focuses on multi-client analytical studies in the offshore energy sector. Based in New York, WER maintains a proprietary online database of floating production systems and publishes monthly reports on the industry.
  • WER's client base includes many of the major companies in the offshore industry.

Learn more »

Recent Articles

Floater Sector Beginning to Regain Traction -- With More Than 70 Projects Awaiting the Market Upturn Signal

April 15, 2017

Jim McCaul -- Orders for production floaters have finally begun to flow.  The break came early this year when contracts for a production semi for use in the GOM and an FPSO for use off Malaysia were awarded.

Events Over the Past Two Months Have Changed the Dynamics of Domestic Energy Development

December 12, 2016

Jim McCaul -- Donald Trump’s presidential win and Republican sweep of the US government in November – along with OPEC’s oil production cuts in December -- have injected new dynamics into the US energy

Floating Production Systems Contracts Hit by Market Downturn – But the Cycle Seems to Have Bottomed

April 28, 2016

Jim McCaul -- No question that the market for new floating production systems has taken a battering. The past 12 to 18 months have been a difficult period for everyone in the business sector. Absence of

Crude Oil Inventory

The global oil market has been tightening as excess crude inventory built up over the past several years disappears.  Here's how the International Energy Agency sees the situation in its March oil market report.

”Market re-balancing is clearly moving ahead with key indicators - supply and demand becoming more closely aligned, OECD stocks falling close to average levels, the forward price curve in backwardation at prices that increasingly appear to be sustainable - pointing in that direction.”

Anecdotal information from SE Asia supports the view that crude stocks are falling.  Recent data indicate that 15 VLCCs are currently being employed for storage offshore Singapore/Malaysia, around half the number of storage VLCCs in mid-2017.  Land storage tanks in the region also have greater availability. 

The weekly inventory survey by the US Energy Information Administration also shows a 20% decline in US crude inventory over the past eleven months -- from 535 million bbls at the end of March 2017 to 431 million bbls as of 9 March 2018 (excluding stocks in the Strategic Petroleum Reserve).   

While the level of US crude inventory has increased over the past seven weeks, this appears to be a seasonal response to increased refinery maintenance and lower refinery utilization.  US refineries operated at 90% of their operable capacity in the week ending 9 March vs. an average of 91% over the previous 12 months.   According to the EIA "U.S. crude oil inventories are in the lower half of the average range for this time of year." 

Consulting Services

Jim McCaul

About Jim McCaul

Jim is the founder and manager of IMA, a consulting firm providing market analysis, competitive benchmarking and business planning support in the maritime and offshore sectors. Over the past 40 years IMA has performed more than 350 business consulting assignments for 170+ clients in 40+ countries.

One of the firm’s specialties is analyzing requirements for floating production systems. IMA has published more than 60 reports since 1996 analyzing this business sector and has been engaged by numerous clients to assist in analyzing specific market opportunities in the floating production sector.

Jim is also the co-founder of IMA/World Energy Reports, a New York based business intelligence service for the floating production supply chain.

International Maritime Associates, Inc.

3131 Connecticut Ave NW #2115
Washington D.C. 20008 USA

February 2018 Monthly Floating Production Systems Report

February 2018 Monthly Floating Production Systems Report

Petrobras has certainly aggressively re-entered the market for production floaters. The Brazilian operator has just ordered two large FPSOs for use offshore Brazil and has five more FPSOs at various stages of bidding. Managing such a portfolio of contracts could prove difficult. ExxonMobil has also accelerated procurement of production floaters for its Stabroek block off Guyana, with one FPSO being built and two nearing contract.


Floating Production News

MISC Berhad Names FSO Benchamas 2

March 18, 2018

MISC Berhad held the naming and delivery ceremony of its new Floating, Storage &…

Start of Golar's FLNG in Cameroon May Draw More Africa Clients

March 18, 2018

Golar LNG said on Monday it had started production at its floating LNG (FLNG) platform in Cameroon…

BMT Rolls Out New Big Data Product: BMT Deep

March 18, 2018

BMT has introduced BMT Deep, an advanced interactive asset data platform designed…