Maersk Drilling offloads jackup rig

Maersk Drilling has announced the completion of the sale of 1986-built jackup rig Maersk Giant, now named Giant, to the LOTOS Petrobaltic Group.

The rig, which has been stacked at Esbjerg since 2016, will be used by the new owners for drilling in the Baltic Sea.

Jesper Ridder Olsen, CFO of Maersk Drilling, commented: “After reviewing different options, we believe that a sale of Giant creates the highest shareholder value. The rig was built in 1986 and the sale is part of our fleet optimisation in line with our strategic priority of maintaining a fleet of modern, high-quality assets.”

Maersk Drilling said it will recognise a “single-digit USD million pre-tax gain” on the sale.

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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