Analysts have “sounded the alert” on the value of jackup drilling rigs after two vessels were sold at “historically low” prices.
More than £7.5billion has been spent on newbuild ships in the first quarter of the year.
The value of jackup rigs has increased by 36% over the last year due sustained strength shown in the oil price, according to analytical website vesselsvalue.com.
A takeover of a rival offshore drilling contractor by Rowan Companies would be a vote of confidence for the market, an analyst has said.
The number of offshore vessels being traded second hand globally is on course to increase again this year, but low prices are dampening optimism, analysts have said.