O&G vessel players see rebound in rig demand

OIL and gas (O&G) vessel operators have turned optimistic that rig demand and charter rates will finally rebound this year, as higher crude prices are set to spur higher demand for oilfield services.

After enduring a wave of impairments last year, O&G firms have begun operating from a low value base. The current low valuations have made mergers and acquisitions (M&As) an attractive prospect, as companies with a diversified fleet stand a better shot at securing new contracts, say market observers.