DRILLING MARKET FOCUS: New jack ups will soon hit the water

Without accounting for likely attrition of older units, the world’s supply of jack ups will expand more than 16% by 2009, adding 61 jack ups now under construction, in addition to 3 delivered earlier this year.Nearly two-thirds (39) are being built in Southeast Asia, chiefly at Keppel FELS, Jurong Shipyard Pte. Ltd., and PPL Shipyard Pte. Ltd. in Singapore. Twelve jack ups are being built on the US Gulf coast, about 20% of the total. Yards in China and United Arab Emirates are each building 4 rigs, a yard in Indonesia is building 2, and India and Russia are each building 1 (Table 1). Click here to enlarge imageMost of these newbuilds will come to market in 2007 (21 rigs) and 2008 (...

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