New semi-submersible rig orders should be limited and made against firm contracts of employment, warned the research and strategic planning division of Europe’s DVB Bank in a new report.
Semi-Submersibles are forecast to benefit from a robust offshore market over the next few years, so long as owners hold back from ordering any more units and upsetting the market balance.
Rates are still high compared with shipping sectors, however, it seems steadily in decrease.
“Demand prospects for semi-subs are positive,” said DVB. “This may cause some owners to think it is time to place orders. However, this should be limited and against firm contracts of employment.”
Meanwhile, ordering of semi-subs picked up this year, with 11 orders placed so far and further ordering is expected.