Marine Link
Sunday, March 18, 2018

Transocean Swings to Loss on Falling Revenue

Maritime Activity Reports, Inc.

May 6, 2015

Transocean Ltd., one of the world's top offshore drilling companies, reported a first-quarter loss on Wednesday as oil exploration and production companies rent out fewer of its rigs because of tumbling crude prices.
The net loss was $483 million, or $1.33 per diluted share, down from a profit of $456 million, or $1.25 a diluted share in the same period a year ago, before oil prices plunged 50 percent.
First quarter 2015 results included $881 million of one-time items that hurt the company's bottom line as it puts some older equipment up for sale or scraps parts of its fleet in a market widely seen as oversupplied.
(Reporting By Terry Wade)
Maritime Reporter Magazine Cover Mar 2018 - Annual World Yearbook

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.

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