Strained rig operators on collision course with yards

Several rig operators have fallen out with yards in Asia in their attempts to make it through the coronavirus crisis. Seadrill and Awilco Drilling are both in disputes with yards concerning canceled newbuilds.

Photo: Edgar Su/Reuters/Ritzau Scanpix

The rig companies' attempts to make it through the coronavirus crisis has sent them on a collision course with shipyards in Asia.

The oil price collapse in March has forced virtually all stakeholders in the sector to pursue cost reduction measures.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.

Further reading

Related articles

Trial banner

Latest news

See all jobs