Thats an interesting progression. Does this mean SDRL thinks there’s safer money to be made as a vessel owner but not operator? I guess it allows some reduced overhead if the crewing, technical, ops is being managed by someone else. Fredricksen isn’t on the board anymore right? But I suppose he has experience with regular commercial shipping groups that usually operate the same way through vessel charters/operators/managers.
Dumped Frontline many decades ago.
Vantage has some experience in scrapping rigs which might come in handy. They scrapped the Titanium which was 9 years old and cost them 650+ million to build