Fredriksen seeks solution for Seadrill newbuilds in Korea

Fredriksen seeks solution for Seadrill newbuilds in Korea

Four ships that Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have nearly finished building for Seadrill could be bought by Hemen Investments, John Fredriksen’s family investment vehicle. Negotiations are underway to find a solution for the ships that are due to deliver this year.

Both Korean yards have just announced that their contracts for the new Seadrill drillships have become invalidated as a result of the offshore driller’s bankruptcy. Each yard had two drillships from Seadrill on their books.

Seadrill filed for Chapter 11 bankruptcy protection last September.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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