An estimated 860,000 barrels per day (bpd) of bunker fuel demand will not be in compliant with the 0.5% sulphur content cap regulation set to be enforced from 2020, according to energy research consultant Rystad Energy.

Analysts Rystad Energy describes as “remarkable” the rapid growth of Borr Drilling to become the world’s largest owner of jack-up rigs.

More than 20% of the global fleet of offshore jack-up drilling rigs needs to be scrapped to correct oversupply in the market according to analysts Rystad Energy.