Marine Link
Tuesday, September 27, 2016

Seadrill Pushes Back Drillship Delivery

January 15, 2016

Seadrill Limited has reached an agreement with DSME shipyard to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until the second quarter of 2018 and first quarter of 2019 respectively.
 
Under the terms of the original construction contracts, the units were to be delivered by the end of the second quarter of 2016, and the total final yard installment for both units of over $800 million was due at that time.
 
The agreement announced today improves Seadrill’s near term liquidity position by deferring these capex commitments to 2018 and 2019, with no further payments to the yard until that time.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News