Drilling Rig Market Set to Change

Changes in the drilling rig market are indicators of industry ups and downs. Because ABS classes jackups, semisubmersibles and drillships, the organization follows activity in these sectors closely. According to recent market data for mobile offshore drilling units (MODUs), new construction activity will remain high but will not reach peaks witnessed over the past few years. Moreover, a correction in the market it likely to take a year or more, but the industry will emerge on the other side of the decline with a much more capable drilling fleet to meet the more demanding operating environments that operators are targeting. 

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Offshore Engineer, April 2014