Chart of the Day: See the supply glut in floaters beginning 2017

Most of these rigs will be absorbed as drillers.

In Singapore’s offshore and marine sector, floaters to be delivered in 2014-16 will account for 20% of the current fleet.

According to Maybank Kim Eng, most of these rigs will ultimately be absorbed as drillers would prefer to utilise their assets rather than leave them idle. In order to do so, rates would have to be aggressively marked down. Recent fixtures show 25-40% lower rates than their last contracts.

Here’s more from Maybank Kim Eng:

Transocean Spitsbergen, a semisub, was re-contracted to Statoil for USD400,000/day from 10 Nov, down 25% from USD535,000/day.

Maersk Venturer, a new drillship, has a short-term charter with Total at USD378,000/day. Sister vessels, Maersk Viking and Maersk Valiant, were contracted for three years at USD634,000/day and USD557,000/day.

Diamond Offshore contracted a seventh-generation drillship with Hess for USD400,000/day.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia