Jul 19: 8Jack-up rigs’ DCR is expected to stay flattish at at around USD70k/day going ahead. Click on Report for more. 8Bumi Armada is bidding for the ONGC’s KG-DWN-98/2 FPSO project in India together with its partner, Shapoorji Pallonji Group. Meanwhile, tenders for FPSO jobs are at the highest in the past three years.Click on Reports for more. 8As oil prices steadily hover above US$70/bbl, fueling offshore capex, spotlight will gradually be switched to the service providers such as the drillers, offshore support vessel (OSV) owners and oilfield and rig services companies. Click on Report for more. 8Trends for offshore vessels should pick up, with close to double-digit CAGR over 2017-20 for most regions. However the jackup space will remain challenging. Click on Report for more.
8Even though the jackup market is likely to remain challenging, the liftboat market is starting to see positive signals of possible rate reversion. This could be reflected in charter contracts towards the end of 2018. Click on Report for more. 8As per the prevailing rate of crude oil (at US $ 74 per barrel), ADNOC will spent $ 433million in filling up a part of the Mangaluru SPR. Click on Report for more. 8The US has refused to grant a waiver for French companies to work in Iran and this will mean that french companies will have to withdraw from the country. French's hope of developing the Phase 11 of the South Pars will now stand dashed. In this context, it does not seem likely that Trump will be soft of India either. Click on Report for more. 8The airline business is growing rapidly but find out how higher ATF prices are eventually going to bite this industry more than it does others. Click on Report for more.