Transocean delays deliveries of two drillships

Offshore
1

were these the ones being built against a Shell charter?

[B]Transocean delays deliveries of two drillships[/B]

APRIL 20, 2016 – Transocean Ltd. (NYSE: RIG) reports that it has reached an agreement with Sembcorp Marine’s subsidiary, Jurong Shipyard Ptd Ltd, to defer the delivery and related final payments of two dynamically positioned ultra-deepwater drillships.

The proprietary Jurong Espadon 3T designed rigs are now scheduled to be delivered during the first and third quarter of 2020.

The drillships were ordered in February 2014 for deliveries in the second quarter of 2017 and the first quarter of 2018, respectively. At the time, Transocean put the combined capital cost for the pair at $1.24 billion including the shipyard contracts; project management; owner-furnished equipment; inventory and capital spares; but excluding capitalized interest. It said then that “the payment terms for both rigs are very favorable to Transocean.”

2

No, the next two Shell builds come out in 2018 I think. These two never had, and still don’t have, contracts. They were poorly timed spec builds ordered courtesy of a push from Carl Ichan sticking his fingers where they don’t belong.

3

Transocean has raised $600 Mln. in the market for financing of a Drillship already in operation in the GOM: http://splash247.com/transocean-raises-600m-new-drillship/