A Sonda de perfuração Deepsea Metro I foi vendida por $262.5 milhões

Deepsea Metro I Drilling Rig Sold for $262.5 Million

Written by Paulo Nogueira

Published on 24/10/2018 at 10:40

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A Golden Close Maritime Corp. Announced [Tuesday] The Sale Of Its Only Drilling Platform, The Deepsea Metro I, To An Asian Buyer

The drilling ship, built in 2011 by Hyundai Heavy Industries and managed by Odfjell Drilling, has not operated in Malaysia since 2017, after seeing its most recent contract in disputed waters off Vietnam interrupted due to force majeure. Since then, the rig has been one of the main candidates for transactions.

Although the buyer is not confirmed, it is likely to be Turkish Petroleum (TPAO). TPAO acquired the sister equipment of Deepsea Metro I, Deepsea Metro II, (now called Fatih) in November 2017.

Drilling Values Are Moving Higher

Bassoe Analytics shows a value range of US $ 222 million to US $ 246 million for the Deepsea Metro I compared to the acquisition price of US $ 262.5 million.

ARTICLE CONTINUES BELOW

Another Rig Taken Off The International Market

As the platform is unlikely to continue competing in the international ultra-deepwater market, the transaction can be seen as positive for other drillship owners. The price level also provides real support to values for similar assets.

More Buyers To Seek Competitiveness With The Locking Of Low Asset Values

There isn’t much to say about the drilling market right now. It’s a bit better than one or two years ago, but utilization (slightly above 50%) and new daily device rates remain stalled. Most new contracts are in the range of US $ 140,000 to US $ 200,000, depending on the region and asset.

But there is a growing number of equipment owners and investors who agree with us that the market will experience significantly higher utilization, which could cause daily rates to double. The problem is that no one is sure when this will happen.

Some companies, such as Northern Drilling, have tried to take advantage of low rig values and reduced the market return to greatness. If this happens within a reasonable timeframe, they will generate strong cash flows. This is what drives values now and we hope this continues.

With several other ultra-deepwater drillers in play now (Bolette Dolphin and Pacific Zonda, among others), look for more benchmarks to come.

Deepsea Metro I Drilling Rig Sold for $262.5 Million

A Golden Close Maritime Corp. Announced [Tuesday] The Sale Of Its Only Drilling Platform, The Deepsea Metro I, To An Asian Buyer

Drilling Values Are Moving Higher

Another Rig Taken Off The International Market

More Buyers To Seek Competitiveness With The Locking Of Low Asset Values

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Deepsea Metro I Drilling Rig Sold for $262.5 Million

A Golden Close Maritime Corp. Announced [Tuesday] The Sale Of Its Only Drilling Platform, The Deepsea Metro I, To An Asian Buyer

Drilling Values Are Moving Higher

Another Rig Taken Off The International Market

More Buyers To Seek Competitiveness With The Locking Of Low Asset Values

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

Australia prepares to dredge 96.5 million m³ in Moreton Bay to deepen, widen, and realign channels of the Port of Brisbane, in a project of up to 25 years designed to accommodate larger ships and enhance maritime safety and regional port efficiency.

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Cristiano Ronaldo builds a billion-dollar mansion in Portugal with 54,000 square feet, a 3-acre plot facing the Atlantic, private spa, indoor and outdoor pools, and an estimated value of an impressive R$ 385 million.

Larger than the Toyota Hilux and with a towing capacity of 3.5 tons, the new MG U9 2026 features a 2.5 turbodiesel engine, 520 Nm, 4×4 traction with three locks, and an almost full-size build.

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