OPINION | Macro pressures ease as OSV utilisation strengthens in 2026

Offshore rig market moderates but remains supportive

Rig activity softened marginally across jackups, semisubmersibles and drillships in 2025. Average committed jackups closed the year at around 397 units – a four per cent YOY decline – largely attributed to Saudi Aramco’s phased suspensions since April 2024.

Meanwhile, semisubs closed at around 62 committed units with a seven per cent YOY drop, and drillships averaged 81 committed units at the end of 2025, representing a one per cent YOY decline.

Despite these small declines, offshore rig day rates remained strong, with jackups averaging US$94,000/day, semisubs fixing at around US$375,000/day and drillships US$430,000/day.

This stability reflects a market that has rebalanced post Covid, with high-specification units in particular benefitting from tight availability. Offshore drilling trajectories continue to support OSV demand across logistics, anchor handling and rig move support.