Seadrill circles jack-up resales

Eyeing jack-up resales: John Fredriksen-controlled Seadrill keeping close watch on smaller owners struggling to pay for newbuilds

TradeWinds

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By Eoin O'Cinneide

 29 February 2012 08:40 GMT

Seadrill is zoning in on possible distressed jack-up rig newbuild orders as it looks to swell its fleet to plug a gaping hole in market tonnage capacity.

The Norwegian owner revealed its possible interest in the resale market as it unfurled a much-improved full-year profit on the back of higher revenues and a significant drop in non-operating items.



Oslo-listed Seadrill earlier this week hatched a $1.2 billion order for a pair of drillships at South Korean shipbuilder Samsung Heavy Industries, also leaving one optional contract behind.



The company, controlled by shipping billionaire John Fredriksen, also said this was just a start in a new fleet expansion drive which could see it ink further orders to…

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