ShippingWatch

Transocean scraps four rigs and takes big loss

Transocean has not been able to find a buyer, so the company will scrap four rigs and book a loss of USD 300-325 million. And the drilling company will also idle four rigs.

Photo: North Atlantic Drilling

Maersk Drilling's competitor Transocean Ltd. is along with the rest of the industry effected by the unfavorable conditions and is now noting the consequences by pulling four ultra-deep seas drilling rigs off the market.

The move concerns rigs Discover Spirit, GSF Jack Ryan, Deepwater Discovery and Deepwater Pathfinder, which have been unemployed for a long time and will now be idled, says Transocean in a statement.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Further reading

Related articles

Latest news

See all jobs