Introduction: With the expectation of recovery in the oil market, the offshore drilling platform market initiated a wave of integration over the past year. At present, Ensco has replaced Transcoean and become the world's largest shipowner of drilling platforms in terms of both fleet number and value, and Norway has become a country with the most valuable shipowner of drilling platform fleet worldwide.
With the recovery of the oil market, the offshore drilling platform market initiated a wave of integration over the past year. At present, Ensco has replaced Transcoean and becomes the world's largest shipowner in drilling platform in terms of both fleet number and value, and Norway has become a country with the most valuable shipowner of fleet in the global drilling platform.
The statistics from VesselsValue show that there are 945 offshore drilling platforms in the world currently. Among them, 118 out of 136 drilling ships have been delivered, and the rest are new ships under construction; 158 out of 180 sub-submersible drilling platforms have been delivered; 562 out of 639 self-elevating drilling platforms have been delivered.
Overall, the total value of the global offshore drilling platform fleet amounts to 79.11 billion dollars. The value of the drilling fleet is 21.52 billion dollars, semi-submersible drilling platform fleet is 13.16 billion dollars, and self-elevating drilling platform fleet is 44.44 billion dollars.
After the acquisition of Atwood Oceanics last year, Ensco, a British company, is currently the largest shipowner of offshore drilling platforms in the world, with 65 drilling platforms valuing US$5.97 billion; while Transocean, the former largest shipowner, now has 45 fleets with a total value of US$5.03 billion after selling its fully self-elevating drilling platform to the Norwegian new company Borr Drilling last year.
One year ago, Transocean was the world's largest shipowner of drilling platforms. At the time, the total number of fleets was 68 with a total value of US$6.82 billion. Ensco, at that time, only ranked fourth in the world, with 60 fleets and a total value of US$3.45 billion.
Statistics from VesselsValue show that John Fredriksen, a Norwegian shipowner, now ranks second in global drilling platform fleet value. And Fredriksen's subsidiaries, namely Seadrill, North Atlantic Drilling, and Northern Drilling, all together have 38 drilling platforms with a total value of US$5.64 billion. The group also ranked second one year ago. At that time, there were 47 fleets with a total value of 6.13 billion US dollars. The top 10 shipowners also include CNOOC Group with its value increased from US$1.93 billion to US$2.73 billion, as well as US companies Noble Drilling, Rowan Companies and Maersk Drilling in Denmark.
The data show that currently, Norway has 105 drilling platforms with the value of its fleet about US$14.22 billion, which is the largest shipowner of drilling platforms in the world. The United States, which ranks second, has 174 drilling platforms, but the value of its fleet is only US$10.82 billion. The United Kingdom ranks third with a value of US$9.62 billion. China ranks fourth and its total value is US$6.71 billion. Sweden ranks fifth because of Transocean, with a value of US$5.03 billion. The top 10 also include Mexico, Singapore, Denmark, Brazil, and Greece.
Borr Drilling undoubtedly became the largest investor in 2017, spending US$2.65 billion in buying 24 drilling platforms. It not only acquired 15 jack-up drilling platforms from Transocean, but also nine reseller drilling platforms for Singapore shipyards. This year, Borr Drilling will also acquire all fleets of Paragon Offshore.
Although the integration activities in last year, to some extent, eased the imbalance between supply and demand in the market, the drilling shipowners still have a large number of drilling platforms under construction at the shipyard waiting for delivery. It is foreseeable that these drilling platforms under construction will still remain at the shipyard for some time to come.