The former Frigstad Kristiansand, now Bluewhale II, nears delivery and is currently on sea trials. The 7th generation Frigstad D90 design 12,000ft wd rated semi is now owned by CIMC Bluewhale Rig Ltd and is set for delivery at the end of this month. No charter has yet been announced for the rig. Another Chinese owned semi-sub, COSL’s Hai Yang Shi You 982, under construction at Dalian Shipyard, is also nearing delivery, scheduled for early 2018. The harsh environment Agility GG5000 design rig is currently having its thrusters installed which will be followed by sea trials. The 5,000ft wd rated [...]
Another arrival in Singapore, Aban jackup Deep Driller 5, has entered Sembcorp Marine Tuas Boulevard shipyard where it will undergo contract preparations ahead of its 5-year plus 3–year options charter with Shell Brunei which is expected to commence in November this year. After completing a charter with Vietsovpetro then being stacked in Indonesia since April 2015 the rig completed a short term contract with Cairn in India.
In their recent quarterly financial report Sembcorp Marine confirmed that Perisai jackups Perisai Pacific 102 and Perisai Pacific 103 plus Oro Negro jackups Vastus, Supremus and Animus have all been technically completed and that a number of potential clients have emerged to acquire the units whose owners have yet to commit to accepting delivery. Jurong shipyard also has another jackup still under construction, Hakuryu 14, whose delivery has been put back from 2016 to January 2018. The report did not mention Iron V, a jackup ordered by Marco Polo and currently the subject of arbitration nor of the two speculative [...]
SembCorp Industries reports it posted a net profit of $174.4 million and turnover of $4.4 billion for the first six months of 2017. That compared to a net profit of $193.5 million and turnover of $3.7 billion for the same period in 2016. The marine segment of the business contributed $27.4 million of profit this year, but that was down from 40.6 million through June 2016. SembCorp has 11 rigs at various stages of construction at its Jurong and PPL Shipyards in Singapore, although several are essentially completed. The company says it is in discussions with interested parties and expects [...]
Transocean’s confidence in the recovery of the UDW market would seem to be behind their request to Jurong shipyard in Singapore to resume construction of the two Jurong Espadon III design drillships they ordered in February 2014, Transocean Espadon DS1 and Transocean Espadon DS2. Back in April 2016 Transocean had signed an agreement with the yard to defer deliveries of the two rigs for 2 years. The delivery dates have now been fixed for Q1 2020 and Q3 2020. Transocean have also embarked on upgrades to some of their UDW fleet, fitting second BOP stacks and upgrading to be MPD [...]
Seadrill has been granted until September 12th to finalize its restructuring plan. However the company has warned that the final plan is likely to involve seeking Chapter 11 protection which will require substantial impairment or conversion of bonds as well as impairments and losses for other stakeholders including shipyards. The company has $14bn of debt and liabilities. Apart from investors the shipyards that are likely to take a big hit are DSME and Samsung in South Korea who have four UDW drillships under construction for Seadrill, China’s Dalian Shipyard (DSIC) with eight jackups under construction, Jurong shipyard in Singapore and [...]
Merger talks between the two big Singapore shipyards, KeppelFELS and Sembcorp Marine, mooted for some time, are rumoured to now be underway. Should this happen the com-bined shipyards will have a dominant position on jackups designs with LeTourneau, KFELS own designs and BMC all under the same stable. This would leave China as the main competition with agreements in place in many shipyards, to build Friede And Goldman and GustoMSC design units.