Northern Offshore pushes back jackup deliveries

Northern Offshore pushes back jackup deliveries

Houston: Oslo-listed Northern Offshore has negotiated a nine month delay in the deliveries of its two jackup rigs currently under construction, Energy Engager and Energy Encounter.

The jackups, which are being built at Cosco Dalian Shipyard, are now set for delivery in December 2016 and June 2017.

Gary Casswell, president and ceo of Northern Offshore, commented: “We sincerely appreciate the cooperation of our shipyard to allow us to delay the delivery of these units to enable us to better match contract opportunities in what we believe will be a more robust market at that time. This will allow us to defer approximately $22m in owner furnished equipment expenditures for these units from calendar year 2015 to 2016.”

The move comes a week after the company suffered a cancellation from Rosneft Oil Company for jackup rig Energy Endeavor, which was to be deployed on a  two-and-a-half-year contract.

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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