SE Asia rig demand and dayrates continue to soar, future opportunities remain strong

摘要

THE LAST TIME the Southeast Asian rig market was discussed the headline stated that jackup and floater dayrates were skyrocketing. That is still very much the case and, in fact, dayrates are still soaring. One drilling contractor recently secured a contract for its jack-up offshore New Zealand beginning in May 2007 for a dayrate in the mid-180s dollars. This contractor also obtained a jackup contract in the mid-140s dollars. The region has been strengthening for the past 18 months, reaching a balance earlier this year. It now appears there is a deficit of rigs, mainly jackups, although the semisubmersible market is extremely tight. There was a concern earlier that a number of the jackups under construction in Southeast Asia, primarily in Singapore, that are scheduled for delivery in 2006 could undermine the market and turn dayrates around. While that is still on the minds of many contractors, it appears to be a less bothersome concern as virtually every other region around the world is also experiencing a dearth of jackups, particularly the US Gulf of Mexico, which experienced numerous jackups severely damaged or destroyed as a result of two Category 5 hurricanes in the span of about three weeks.