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Sembmarine extends NADL newbuild rig standstillSembmarine extends NADL newbuild rig standstill

Sembcorp Marine and North Atlantic Drilling Ltd (NADL) have agreed to kick the can yet further down the road on a harsh environment semi-submersible drilling rig West Rigel.

Marcus Hand, Editor

October 4, 2016

1 Min Read
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Sembmarine announced a standstill on the newbuild rig in early December 2015 until 8 June this year, which was extended till 2 September. As the offshore marine market continues to struggle the standstill agreement with Jurong Shipyard has been extended until 6 January 2017.

During the standstill NADL will continue to market the rig for an “acceptable contract” and it will remain in Jurong Shipyard.

If a contract cannot be found the two companies will form a joint asset holding company whereby Jurong Shipyard will own 77% of the rig and NADL 23% and it will be continued to be marketed for sale.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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