this is starting to get ridiculous...now it's Fred Olsen

**c.captain** · April 21st, 2011, 03:40 AM

who just ordered a newbuild drillship at Samsung with an option for another!

A brief press release here

So, are the Korean yards financing 100% of all these newbuilds just to keep their yards at full operation as someone here has indicated is happening? Do they NEED this drillship work that bad? If they are so convinced of the future of the industry, why don't they just own the ships themselves and charter them to the drilling contractors? What the HELL is going on here?

**tengineer** · April 21st, 2011, 08:28 AM

Originally Posted by c.captain

who just ordered a newbuild drillship at Samsung with an option for another!

A brief press release here

So, are the Korean yards financing 100% of all these newbuilds just to keep their yards at full operation as someone here has indicated is happening? Do they NEED this drillship work that bad? If they are so convinced of the future of the industry, why don't they just own the ships themselves and charter them to the drilling contractors? What the HELL is going on here?

It gets better. Petrobras is going to start building their own drillships, skip the middleman.
The future is deep and it is no longer needed for the shipyards to finance the building, things are picking up and should be good until China or India implodes and drives down the oil demand.

**Mikey** · April 21st, 2011, 03:24 PM

Originally Posted by c.captain

who just ordered a newbuild drillship at Samsung with an option for another!

I heard HHI got the order but, yeah, same difference

gCaptain News | Hyundai Heavy clinches drillship and containership orders

**c.captain** · April 21st, 2011, 05:57 PM

You're correct Mickey that it is Hyundai or so says Fred Olsen Energy here. Oil Online must be confused.

Anyway, an updated spreadsheet of all drillrigs/ships under construction or on order will be forthcoming from me in the next week.

**c.captain** · April 21st, 2011, 06:02 PM

Originally Posted by tengineer

things are picking up and should be good until China or India implodes and drives down the oil demand.

I hate to have to ask, but why will China and/or India implode? Both are poised to become the world's #1 and #2 economies by the end of this century or quite possibly much sooner in the case of China! Hell they've made it to number two in less than 20 years!

**Mikey** · November 21st, 2011, 04:16 PM

Looks like Fred Olsen just booked a gig for this newbuild and it's Belford Dolphin drillship. Wonder when they'll exercize that option? Has to be soon...

http://gcaptain.com/fred-olsen-wins-...-belford?34104

**tengineer** · November 22nd, 2011, 02:48 AM

Originally Posted by Mikey

Looks like Fred Olsen just booked a gig for this newbuild and it's Belford Dolphin drillship. Wonder when they'll exercize that option? Has to be soon...

http://gcaptain.com/fred-olsen-wins-...-belford?34104

There's a lot of money coming from somewhere. I am visiting DSME and they assure me they haven't financed any recent orders and they don't need to.

**Mikey** · December 19th, 2011, 11:31 AM

FYI Fred Olsen just passed on its option for a second drillship. All signs pointed to yes imho, not sure why they didn't go for it.

http://gcaptain.com/fred-olsen-passes-drillship-option/