- Ensco (ESV -4.9%) has sold off six assets for scrap and signed new short-term contracts but also was hit by a contract cancellation, according to its latest fleet status report.
- ESV says Japan’s Marubeni exercised its right to terminate its contract early, effective in August, for the Ensco 8505 semisubmersible, which was operating at a dayrate in the low $150Ks.
- Inpex extended its contract by about 15 months for an ESV semisubmersible at a lower dayrate in the mid $350Ks, plus ~$125K/day for capital upgrades and dayrates during shipyard stay and mobilizations; the contract is expected to end in September 2019.
-
Summing up, Fun Trading finds encouragement that ESV was able to secure some contracts recently despite terminations and slashed dayrates.