SDRL - Is The Maersk Drilling Contract A Breakthrough For The Semi-Sub Segment?
Maersk Drilling, which is set to start trading on Nasdaq Copenhagen after demerger from A.P. Moller-Maersk (AMKAF), surprised the market with a new contract announcement - the company’s semi-sub Maersk Deliverer got a three-year contract from Inpex in Australia with an estimated contract value of $300 million, including mobilization.
The resulting dayrate calculates to roughly $270,000, way above current rates for semi-subs. The contract has two one-year options and is expected to begin in the second quarter of 2020. A logical question is whether this is a one-time item or a start of