There are “too many rigs and too many players” in the drilling industry, Maersk Drilling CEO Jørn Madsen has said.
Rigs & Vessels
Leif Höegh & Co. (LHC) in a joint venture with Morgan Stanley Infrastructure Partners have made a 23.5 krone ($2.73) per share offer for Höegh LNG Holdings.
Borr Drilling said in its new fleet status report that it had added $35.1 million over 480 days to its total backlog.
Bourbon Maritime has emerged from bankruptcy and reorganisation, under which 1.5 billion euros ($1.83bn) of debt was cut.
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
Restructuring for offshore drillers will accelerate, Rystad Energy has predicted, and as much as one quarter of the global floater fleet could be scrapped.
Following a day during which the Nave Andromeda product tanker was held by stowaways, UK special forces have retaken the ship offshore the Isle of Wight.