Danger ahead for offshore services sector

摘要

Bankruptcies are starting to surge across the offshore oil services sector, with many high-profile names defaulting on their debt. London-based Vala-ris, the world's largest offshore drilling contractor by fleet size, became the latest big-name casualty when it filed for bankruptcy in mid-August, joining UK rival Noble Corporation and US-based Diamond Offshore Drilling, which have both already succumbed to the economic downturn.