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Why 2013 might be a record year for Singapore's jack-up deliveries
55 units are to be delivered.
According to Barclays, 2013 is on track to record the highest number of jack-up deliveries in the past 30 years.
Barclays said that with 55 jack-ups expected to be delivered this year, we expect orders of new jack-ups to take a temporary breather as the market absorbs the new units being delivered.
"However, even after accounting for the 80 deliveries by 2015, more than half of the world’s jack-up fleet will be over 30 years old. Hence, we believe that the upgrading and retooling of the current fleet will result in a replacement cycle that will drive further rig orders and upgrades," Barclays said.
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