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Offshore rig market: Orders are picking up but day rates are years away from recovery
Jul 23: There has been a round of fresh long term offshore rig contracts and they seem to show that dynamism has indeed returned to the market.
8But the problem is day rates are scaling new lows as rig operators are willing to set rates that are equal to or a little over the cost of cold stacking such rigs.
8A recovery in day rates is still years away.
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