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Offshore rigs-I: Do not expect day rates to go up until 2020
Jun 06:
As oil prices move up, the demand for Jack Up rigs are already seeing an upswing
8But for floaters, there is going to be a lag effect. The bottom has not been reached yet and that is expected by the end of 2018
8The important point to note is that improvements in dayrates are not anticipated until 2019 or even until 2020.
8Historically, marketed utilization must return to around 85% for pricing to improve materially
8Clearly, attrition is needed to improve the supply-demand balance. Click on Report for more.
Find out more
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8But for floaters, there is going to be a lag effect. The bottom has not been reached yet and that is expected by the end of 2018
8The important point to note is that improvements in dayrates are not anticipated until 2019 or even until 2020.
8Historically, marketed utilization must return to around 85% for pricing to improve materially
8Clearly, attrition is needed to improve the supply-demand balance. Click on Report for more.
Find out more
