Reduces Number of Drillships in Stock to 3
Samsung Heavy Industries has sold one of the five drillships in inventory to a European buyer for US$245 million.
The drillship will be delivered within the first quarter of 2023 after preparations for restarting operations. It is one of two drillships that were originally ordered by Ocean League in Greece in 2014 but has been in inventory following cancellation of the contract in October 2019.
“The sale is expected to provide additional liquidity and reduce maintenance costs, further strengthening our financial structure that has been bolstered by a recent capital increase,” the shipbuilder explained.
Samsung Heavy Industries signed a charter contract on one of the five drillships in inventory with Italy’s Saipem in June and delivered it in November. The contract also includes a purchase option, raising anticipation for the sale of the ship in the future.