China sets up company to handle rigs millstone

Single entity established to try to deal with legacy problem for yards after exodus by foreign players left behind dozens of abandoned newbuild units

Seeking solutions: Chinese yards, including Dalian Shipbuilding Industry Offshore, are looking for ways to make money back on rigs built for foreign players and then abandoned during the industry downturn
Seeking solutions: Chinese yards, including Dalian Shipbuilding Industry Offshore, are looking for ways to make money back on rigs built for foreign players and then abandoned during the industry downturnPhoto: REUTERS/SCANPIX
Published 6 February 2019, 14:30Updated 6 February 2019, 14:30