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Workboat Report World Floater Market Is Stable The floating rig market was showing signs of stabil- ity in many of the world's major drilling basins. How- ever, reports Offshore Data Services, demand for older, second-generation units continues to lag. World- wide, 149 of the existing 179 floating drilling rigs are under contract and fleet utilization for these rigs is 83.2 percent. In its previous Offshore International Newsletter Market Outlook on floaters, which was published in July, utilization was 82.1 percent with 147 of the existing 179 floating rigs under contract. Activ- ity may slack off in the closing months of the year as oil companies formulate their drilling plans for next year. With this in mind, closing out 2000 with utiliza- tion still in the low- to mid-80 percent range will place floating rig contractors in prime position to capitalize on expected E&P budget increases. Second-Generation Semis Demand for second-generation semis has changed little since July, and utilization remained around 70 percent. In the U.S. Gulf this segment was signing con- tracts to work for $30,000 to $35,000 per day. In July, these rigs were making anywhere from $27,500 to $46,500 per day. Day rates are similarly mixed in the North Sea, where second-generation semis are signing new deals for $39,500 to $44,500 per day, compared to about $41,000 per day in July. Third-Generation Semis Third-generation semis have fared pretty much the same as second-generation units over the last three months. Utilization stands at 85.1 percent with 40 of the world's 47 third-generation semis under con- tract. However, with utilization holding steady in the 85 percent range, day rates have been under pressure to move up. In the North Sea, third-gen- eration semis are landing new contracts with rates in the $42,000 to $67,500 range, a solid improvement from the $35,000 to $45,000 these rigs were making just three months previous. In the Norway/West of Shetlands region, day rates jumped from $57,000 to $130,000 per day in July to $90,000 to $160,000 today. Fourth-Generation Semis Utilization is 100 percent with all of the world's 34 fourth-generation semis under con- tract. However, day rates have moved very little due to the long-term nature of the contracts for these high-specification rigs. In the Gulf of Mexico, day rates increased slightly. Fourth- generation semis in the region are signing con- tracts specifying day rates between $50,000 and $125,000. In July, the day rate range was from $49,000 to $139,700. DP Drillships The DP drillship market has changed little, as with no rigs available for immediate work, utilization effec- tively is 100 percent. A couple of contract rollovers have taken place, leading to day rate increases. In the U.S. Gulf, DP drillships are signing contracts for about $ 130,000 per day, compared to about $ 118,100 per day in July. (Source: Offshore Data Services) INHERE IN THE WORLD IS METAL SURGERY? SPECIALISTS IN CAST IRON REPAIR Stitching approximately 100 In. of crack on a ship's propeller hub. A FULL RANGE OF SERVICES/ READY TO TRAVEL ROUND THE WORLD/24 HOURS A DAY One Year Warranty Grinding generator slip rings to save $1,000's in costs. METAL SURGERY, USA, Ltd. 1-800-394-8489/www.metalsurgery.com The Get-It-Done Professionals in World-Wide Repair Smart Radar Level Sensor with Generic RS485 Output The first flat array antenna for liquid tank gauging. This software driven array allows for each sensor to remotely configure itself for the type of product as well as the structural characteristics within each tank. It is completely self-diagnostic and is factory calibrated using a laser interferometer to ,1mm. It is designed for the harshest environments and can be provided in a high temperature version to 385°F. It is intrinsically safe with Class 1, Div. 1, Group D & C approvals. As a smart sensor, all processing calculations and software are resident in the device itself, only a high level generic data output, i.e., RS485 (or others on request) is sent to the cargo control area. Options: • Multiple alarm set-points • Temperature • PV Pressure • I.G. Pressure • Tank Management Software • Automated draft and trim ELECTRONIC MARINE SYSTEMS, INC. 800 Femdale Place Rahway, NJ 07065 Call today for more information! 732.382.4344 732.388.5111 fax emsmarcon@aol.com e-mail http://www.emsmarcon.com Circle 364 on Reader Service Card Circle 244 on Reader Service Card
