GlobalSantaFe SCORE Shows Continued Worldwide Market Weakness

Tuesday, September 17, 2002
GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2002 was down from the previous month's SCORE by 4.5 percent. GlobalSantaFe President and CEO Sted Garber said, Worldwide SCORE showed continued weakness in August for the semisubmersible rig market.This was especially true in the North Sea, where overall softness continued to put downward pressure on semisubmersible dayrates. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle.In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.In addition to a worldwide SCORE covering key types of competitive offshore drilling rigs in key drilling markets, a separate SCORE is calculated for certain types of rigs and certain regions to indicate the relative condition of rig markets.The release, which is made available for publication on the third Monday of each month, includes separate SCORE calculations for the U.S. Gulf of Mexico, the North Sea, West Africa and Southeast Asia.Rig types include jackup and semisubmersible rigs.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Hike in Service Tax at Indian Ports

  The Indian Ministry of Finance has advised an increase in service tax and applicable at all ports. The effective date has not yet been announced. The

Vessels for the Future – New R&D Initiative

Looking ahead to 2020 and beyond, both maritime and inland waterways will be under ever increasing pressure, as we use them for transport, recreation and commercially.

Navy Reserve Celebrates Centennial Anniversary

Service members and civilians packed the Pentagon Library Conference Center for the Navy Reserve Centennial Kickoff Celebration March 2. Chief of Navy Reserve Vice Adm.

Offshore

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Maersk Drilling Secures Contract for Newest Drillship

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager.   The contract

Floater Orders 2014

25 Units Orders in 2014:  10 FPSOs, 1 Barge, 4 FLNGs, 7 FSRUs & 3 FSOs The overall number of orders is similar to the average ordering pace over the past 10 years,

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3185 sec (3 req/sec)