Transocean continues decline in third quarter

Transocean, the world's largest rig company, took a new beating from the tough offshore market in the third quarter, where the operating result was nearly halved and revenue plunged further. Large bond sales give flexibility, says CEO.

US-based Transocean, which makes a living leasing rigs to the presently struggling offshore market, declined further in the third quarter on operations as well as revenue.

The operating result dropped to USD 225 million in the latest quarter against USD 445 million in the same period last year, while revenue ended at USD 903 million against USD 1.6 billion in last year's third quarter, according to Transocean's third quarter interim report, published Thursday.

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