Bull market for deepwater suppliers

摘要

The US Gulf market is becoming even more divided, with differing scenarios for both shallow and deepwater work. Deepwater PSV owners are reporting high utilisation, strong day rates and multiple offers for term charters. The shallow-water market, however, remains oversupplied with stagnant day rates hovering just above operating costs. Drilling activity in the US Gulf has been steadily ramping up since March 2011, when the Bureau of Safety and Environmental Enforcement (BSEE) began issuing permits after the drilling moratorium ended. Despite some newbuild PSVs delivering over the last few months, demand for medium and large PSVs with DP-2 capability is keeping deepwater day rates high. Some industry sources believe day rates could climb much higher as three incoming drillships look to generate incremental demand in March and April.