Chart of the Day: This graph shows an impressive jump in jack-up rig orders since 1980

2013 holds the record for the highest deals.

According to CIMB, YTD, 52 jack-up rigs have been ordered, a record high since 1980. Out of the 52 units, asset speculators and new entrants accounted for at least 19 units, with more Asian players entering the market. 

Over the past three months, speculators/new entrants have continued to order more jack-up rigs, backed by funding availability, attractive financing from China as well as the high utilisation/day rates in the industry.

Here's more from CIMB:

The latest speculative order came from Clearwater for two KFELS B-Class jack-ups worth US$440m to be built by Keppel.

In Aug, ESSM, a Singapore-based private company, ordered two CJ46 jack-ups from Shanghai Waigaoqiao.

In Jul, Singapore-listed KS Drilling (KST SP, Not-rated) placed an order for a new-build jack-up rig (JU2000-E design) worth less than US$250m with Zhenhua Heavy Industries, to be built at the PT Citra Tubindo yard in Batam, Indonesia. Falcon Energy (FALE SP, Not-rated) also placed an order for four GustoMSC CJ50 jack-ups with China Shipbuilding Industry Company (CSIC) at US$218m/rig, to be built at Shanhaiguan Shipbuilding Industry shipyard. This, after Falcon Energy sold two of its CJ46 jack-ups (being built by China Merchants Heavy Industries) to COSL.