Noble Corporation scraps two and stacks two

Noble Corporation scraps two and stacks two

Noble Corporation revealed in its full year results that it has retired drillship Noble Discoverer and jack-up Noble Charles Copeland, while it will also warm stack semi-submersibles Noble Jim Day and Noble Danny Adkins.

The retirement of the 1966-built Noble Discoverer comes after the infamous drillship was given an early termination by Shell after a failed Arctic drilling campaign. The vessel was on a three-year deal signed in late February 2014 at $368,000 per day.

Noble is also retiring 1979-built jack-up Noble Charles Copeland, reducing its jackup fleet to 14 including one under construction.

The company is also reducing its fleet of semi-submersibles, at least temporarily, by commencing plans to warm stack the Noble Jim Day which concluded a contract late-January and Noble Danny Adkins which concludes its current assignment late-February.

Further fleet reductions or stacking look to be coming through the year. David Williams, chairman, president and CEO of Noble Corporation, commented: “Ongoing cost control measures are likely to result in further reductions in 2016.”

The company reported a fourth quarter 2015 net loss a of $152m on revenues of $858 million.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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