Source: Shipspotting Picture: Drillship DS-16 (Rowan Resolute)
Introduction
Valaris PLC (VAL) and Transocean (RIG) are the two most significant offshore drillers in the world and represent a potential "safe bet" in this challenging sector which seems struggling a desperate and never-ending battle for survival. I said "safe bet" because I assume that the industry will experience a weak recovery starting in the second half of 2020. While the daily rates will be insufficient to get optimistic, I believe the outlook will be less cloudy.
I have explained numerous times that I