Offshore rigs are now in the middle of a “serious break from the party” after years of low newbuilding prices, attractive financing terms and sustained rises in offshore capital expenditures (capex) by oil-company clients, says DVB Bank’s shipping and offshore research division.
The demand outlook for floaters, which are defined as semi-submersible rigs and drillships, looks to be positive over the medium and long-term scenarios, with a rebalancing of the market in about 2017 — if the current energy sector and commodity prices play out as predicted.
