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Courtesy IHS Markit
2210 Offow Vess T 1
Renewable Energy

Supply chain under pressure from rapidly expanding wind market

Oct. 3, 2022
There are question marks over the longevity of older, less capable vessels in a market where foundation sizes and weights are rapidly increasing.
Photo by Kamchai Charoenpongchai/Courtesy Dreamstime
Tugboat sails past drill ships near the DSME shipyard in Okpo city, South Korea.

Rig construction market still faces prolonged downturn

Oct. 1, 2021
Pandemic, lower demand, oversupply continue to afflict market.
Courtesy Dominion Energy
The Charybdis is expected to be the first Jones Act-qualified offshore wind turbine installation vessel in the US.
Renewable Energy

Offshore wind installation vessel market booming

Aug. 1, 2021
Larger turbine sizes prompting need for newbuilds.
(Photo by Tobias Erevik, No. 38761480, Dreamstime)
The semisubmersible rig COSL Pioneer during a maintenance stay in Gandsfjorden, Stavanger Norway.
Drilling & Completion

COSL takes over as largest offshore rig manager

April 1, 2021
China, Abu Dhabi state firms increase their fleets.
(Source: RigPoint by IHS Markit)
Worldwide offshore rig count and utilization rate August 2018 – July 2020
Drilling & Completion

Worldwide offshore rig count and utilization rate

Sept. 1, 2020
The total number of jackups, semis, and drillships under contract has plummeted by 46 units from 487 in March to 440 through July.
(Courtesy Nomisg/Dreamstime.com)
Offshore oil rigs under construction at the DSME shipyard in Okpo, South Korea.
Drilling & Completion

Rig construction market suffers repeated blows

July 1, 2020
The building of new rigs was already in a difficult spot considering that the market is still oversupplied, and the situation has only been hampered further by the oil price collapse...
2007 Of Fdata P01
Drilling & Completion

Worldwide offshore rig count and utilization rate

July 1, 2020
The double whammy of oil price instability and the spreading COVID-19 pandemic has taken its toll on the market, reversing most of the modest upward trends that had been made ...

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