I have read a few 4Q reports from the offshore drillers, like Noble, and find that they are turning some cold-stacked assets into scrap, including a 7th generation drillship. With companies scraping assets rather than pay the ongoing costs of cold stacking, I don't see any evidence of newbuilding being a problem in the near future, which is consistent with the thoughts in your article. Thanks.
I have read a few 4Q reports from the offshore drillers, like Noble, and find that they are turning some cold-stacked assets into scrap, including a 7th generation drillship. With companies scraping assets rather than pay the ongoing costs of cold stacking, I don't see any evidence of newbuilding being a problem in the near future, which is consistent with the thoughts in your article. Thanks.
Thank you - might be what needs to happen in order to spur some action in the space. Until then they need to keep buying back stock