ShippingWatch

Maersk Drilling prepares to scrap rigs to improve drilling market

Despite signs of increased interest from customers, the drilling market remains under severe pressure, and many rigs are now set to be recycled to create a better balance, estimates Maersk Drilling CEO. It will also impact the company's own fleet.

Photo: PR/Maersk Drilling

After yet another annus horribilis in the drilling sector which saw both a collapse in the oil price and the coronavirus pandemic, Maersk Drilling has slowly started to see more tenders and a greater interest in drilling tasks.

From here, however, there is still a rather long way until a decided improvement for the sector and for Maersk Drilling, which most recently saw both its revenue and fleet utilization go down in the third quarter.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Esvagt strikes huge deal with Totalenergies

The French oil major expands its partnership with the Danish service carrier, which secures long-term contracts on eight vessels that will now deliver far more than safety solutions. The agreement is expected to create jobs for more than 160 seafarers.

Western Bulk aims for listing in third quarter

The strong dry bulk market is prompting Norway's Western Bulk to aim for a listing in the third quarter. The carrier projects that the market will strengthen in the second half of the year.

Further reading

Related articles

Trial banner

Latest news

See all jobs