Goldman Sachs predicts strong market for new Maersk Drilling drill ships

Goldman Sachs expects much from the market for deep sea drill ships which is the type concentrated on by Maersk Drilling.

In an analysis on Wednesday, the international megabank, Goldman Sachs lowered its estimates for the oil price. However, the expectations to the oil companies’ investments are still high, not least when it comes to the market for deep sea rigs. A market highly concentrated on by the Maersk Group’s drilling branch, Maersk Drilling.

Goldman Sachs notes that in spite of major fluctuations in the oil price and the earnings of the major players in the oil industry, investments, Capex, have only fallen three times since 1994 – in 1999, 2000 and 2010. Furthermore, the major oil companies have strong balances prompting Goldman Sachs to expect that investments, e.g. in rigs for exploration drilling, will increase.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Stolt-Nielsen reports best quarterly profit in years

Norwegian Stolt-Nielsen, which has acquired shares in competitor Odfjell, benefitted from higher volumes and spot rates in the chemical tanker market and predicts further improvement in the market. The company is, however, not quite ready for ordering newbuilds.

Skuld opens new office in Tokyo

Skuld is to open a Japanese branch located in Tokyo. To lead the division, Skuld recruits former deputy general manager from Japan P&I Club.

Related articles

Latest news

See all jobs