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 October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

DOF Installer Sells Offshore Vessel

DOF Subsea AS subsidiary, DOF Installer ASA, reported the sale of one of its three sister ships, an anchor handling tug supply (AHTS) vessel, to an international buyer.

Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Finance

DOF Installer Sells Offshore Vessel

DOF Subsea AS subsidiary, DOF Installer ASA, reported the sale of one of its three sister ships, an anchor handling tug supply (AHTS) vessel, to an international buyer.

Port City Plans for New Cargo Taxes Angers Kenya Govt, Shippers

Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Offshore Energy

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

N-Sea Completes Inaugural System Diving Scope

Inspection, maintenance and repair (IMR) specialist N-Sea has recently completed its inaugural diving scope with the TUP Diving System (Transfer Under Pressure).

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

Underwater Engineering

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

General Dynamics takes Rudy deLeon on Board

The board of directors of General Dynamics has elected Rudy deLeon to be a director of the corporation, effective September 30, 2014. DeLeon is a senior

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.2746 sec (4 req/sec)