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Indian shipping companies-III: Offshore E&P market in breakthrough mode?
Mar 14: Utilization and fixing rigs for offshore rigs have gone up
8One primary reason for this has been the high numbers of floaters and jackups which have been scrapped
8More than 100 floaters scrapped since the downturn started late 2014
8Find out the scrapping rates per quarter and total scrapped so far
8AHTS utilization, vessels > 10,000 BHP seems to be showing activity but is still not far out from the historic lows
8PSV utilization, vessels > 2,000 DWT is showing an upward tendency
8The other positive is a large volume of second-hand sales of offshore vessels. This is a positive sign of higher liquidity in the market. All-time high level of asset sales in 2017 (106)is an indication of rising confidence
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