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.

by DANIEL LOGAN

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.

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