Drillship Day Rates – New Dawn or False Dawn?

Last time we commented on the drillship market (May 2018 insight paper), one of our observations made ̀¶ was no signs of a rebound in the drillship utilization rate. There was a downward slope. However, we concluded that things could quickly change. And, indeed things have quickly changed. Since the end of last year there has been an uptick in the drillship utilization rate. What has triggered this pick-up of activities? And what are the future trends? This is what we are covering in this month’s paper. The paper gives a holistic view of the current rig market and highlights the risks associated with uncertainty of the market…