Edralin concluded: “While the market is showing limited signs of new work coming to the market to start this year, 2027 is already shaping up to be a busy year for floating rigs. With nearly 11 months to go, 2027 already has over 8,300 days booked, which equates to around 62% of current 2026 backlog.

“Additionally, RigLogix records over 12,600 days from open requirements at the direct negotiation, pre-tender, or tender status with target start dates in 2027. Given the combination of secured demand and open demand for next year, the market may see some projects pushed into 2028, more as a factor of market tightness than a desire to delay.”