Maersk Drilling Fast Out of the Blocks in 2013

Press Release
Tuesday, May 21, 2013

Interim financial results for Q1 2013 show a strong start to 2013 by Maersk Drilling.

With an increase in profit to USD 146 million in the first quarter of 2013 from USD 123 million in first quarter of 2012, Maersk Drilling has come off to a good start in 2013. The strong result – up by 19 % –  is positively impacted by a solid operational performance across the entire rig fleet.

“The performance in the first quarter of 2013 shows the strength and potential of our business. With a strong financial performance driven by solid operations we are back on track, and we reiterate our expectation of a higher result in 2013 compared to 2012. Our long term target remains intact with an ambition of delivering a profit of USD 1 billion by 2018,” says Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller - Maersk Group.

By the end of the first quarter of 2013, Maersk Drilling’s forward contract coverage was 98 % for the remaining part of 2013. For 2014 the forward contract coverage is 79 %, 51 % for 2015, and 41 % for 2016.

Maersk Drilling currently has seven rigs under construction, including three ultra-harsh jack-up rigs and four ultra deepwater drill ships corresponding to a committed investment of USD 4.5 billion.

Of the seven newbuild rigs, contracts have already been secured for five rigs totalling a contract backlog of 17 rig years and an estimated revenue backlog of around USD 2.9 bn.

"We are in discussions with customers regarding the last two drillships and we are confident about the employment prospects for these two units. Customers continue to show a clear preference for modern equipment with enhanced safety and operational capabilities," says Claus V. Hemmingsen.
 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Resolve Maritime Academy's New Wet Trainer Facility

Resolve Maritime Academy says it has started on the construction of a new, two-story wet trainer, larger and more expansive than its original, the L/V Gray Manatee.

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Messer's CEO Norville Announces Retirement

Bill Heller to assume the position as Messer Cuttings Systems’ President and CEO Gary Norville started at Messer Cuttings Systems Inc. in September 1980 selling and installing cutting machines.

Finance

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

BP Reports Better Second Quarter 2014 Results

BP today announced its financial results for the second quarter of 2014. Underlying replacement cost profit for the quarter of 2014 was $3.6 billion, 34% higher than the $2.

Offshore Energy

Russia, China May Develop Floating Nuclear Power Plants

Russia and the world's top energy user China may jointly develop six floating nuclear power plants (NPPs), Russia's nuclear export body said on Tuesday, a further

Floating Production: $1.2b Speculative FLNG Ordered

The floating production business continues to be very strong, particularly in the LNG gas processing sector.  Last month saw a speculatively ordered floating liquefaction plant – a $1.

Prelude By the Numbers

Out at sea, look! It’s a ship! It’s a floating rig! It’s SuperFLNG! While not “faster than a speeding bullet,” Shell’s shipzilla Prelude is certainly more powerful than a speeding locomotive,

Underwater Engineering

North Sea Atlantic Joins the Technip fleet

On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic.

Search for Flight MH370: Update

Australia's Joint Agency Coordination Centre (JACC) says that a bathymetric survey of the 60,000km2 search area is well underway, with two vessels, the Australian-contracted

Rosneft Starts Up Field Work in the Kara Sea

On July 24 this year, research vessel Geolog Dmitry Nalivkin sailed from Kirkenes (Norway) to the Kara Sea. In the next three months 2D seismic survey, will

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1276 sec (8 req/sec)