A spot rate is for the duration of the voyage. If they book a trip today, it won't even begin for at least a week or two, then it takes 6 weeks or more to complete. So "locking in spot" probably just means they have voyages lined up now that will take them through the quarter. Not that they are taking time charters.
You'd rather have them believe the BS you shovel to them. And it is some smelly load of BS you shove. You don't even seem to be able to understand the most simple concepts.
"The Baker Hughes rotary rig count fell 43 this week to 1,633 total oil and gas rigs working on land and offshore for the week ending Friday -- the lowest the count has been since August 2010."
"By early to mid-second quarter, "the rig count will be low enough that US production growth will be flat," said James Williams, president of energy economics group WTRG. "It will probably show up by June."
Then it will start falling. And the builds each week will turn into drops and oil prices will rise.
The report on the DHT website has more detail. Taking the results and ignoring the reversal of the writedown leads to a loss of $3.3 million for the quarter, including non-cash depreciation.
You sound like you really study the industry. How much gasoline does a VLCC carry?
This is of course, the same sleepingoneoff pursuing a two year old vendetta with multiple IDs and wasting hours of his life.
LOL! You don't seem to remember the protective puts. But that is the kind of person you are, adjusting the facts to fit your lies.
LOL! You crack me up. You spend hours here bashing SDRL and yet never made a nickel. That's hilarious. Why do you do it? Bored? Lonely?
Will be a shortage of rigs in 2016.
That's why the question mark. I wasn't sure it was you or some other lying bear. Not for them. It will be better than 2014 due to many more rigs, all with contracts.
No, they will be better than no contracts predicted here, (by you?) and better than the very low contracts predicted by most. The average I said.
This is faster than most suggested and yes, US shale production as well as other shale production around the world is pulling in very fast. UDW is not slowing at all. It is increasing.
Will have many new contracts, reducing the number of uncontracted rigs by half. Average rates for UDW rigs to remain well over $500k a day. High Spec Jackups stil getting strong contracts.