ShippingWatch

A part ofWatch Medier

Transocean books USD 69 million deficit in third quarter

Transocean continues to lose money, booking a loss of USD 69 million for the third quarter. This is attributed to factors such as divestment of assets at a loss and restructuring costs.

Photo: RUSSELL CHEYNE/REUTERS / X02429
BY
Published:

US-based drilling rig operator Transocean is in dire financial straits, according to the company's third quarter interim report, which shows a deficit of USD 69 million.

Net revenue from drilling contracts in the quarter totaled USD 773 million. This was almost 17 percent less than the previous quarter, when the company's net revenue clocked in at USD 930 million.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

  1. Arne Fredly's tanker operator postpones market recovery after new infection wave
  2. The US increases its container alliance monitoring on the heels of rate boom
  3. MPC's nightmare summer has transformed into the best market in years
  4. Shipowners fear another Maersk Etienne case and call for political action
  5. Team Tankers sells European chemical tanker fleet
  6. OECD report criticizes LNG and methanol for not being climate-friendly fuels
  7. Greek oil tanker sails into mine off the coast of Saudi Arabia
  8. Avance Gas sees a positive market looking into 2021
  9. Nordic Shipholding expects to land new loan agreement shortly
  10. Bimco calls off peak season for tanker operators
  11. Maersk Tankers after 38-day-long migrant crisis: There was no solution in sight
  12. Strained PIL reports large net loss for first half of the year
  13. Maersk-chartered ship runs aground after collision
  14. Frontline faces a fourth quarter with significant rate drops
  15. Maersk and MSC lead charge in capacity buildup on the Pacific
  16. Port of Hamburg sees drop in cargo volumes leveling out
  17. Nixon and Habben Jansen appointed chairmen of World Shipping Council
  18. Virus outbreak on ship costs Ziton millions on the bottom line in 2020
  19. Port of Rotterdam has no plans for mass flow meters
  20. Equipment shortages lead to more boxes being shipped on other vessels than planned

See all

Jobs

See all

See all