HHI Delivers Ocean Greatwhite Semisub to Diamond Offshore
South Korea's Hyundai Heavy Industries (HHI) announced Sunday that it has delivered Ocean Greatwhite (UDW semisub), the world’s largest semisubmersible drilling rig, on July 15 to drilling contractor Diamond Offshore.
The South Korean shipyard collected a delivery installment worth $395 million (KRW 460 billion) from Diamond Offshore and the funds are expected to help the company improve its cash flow.
Diamond Offshore ordered the $630 million semisub from Hyundai in 2013 and the rig has been chartered for work in the Great Australian Bight in October. The firm has delivered four drillships to the U.S.-based drilling contractor so far.
"The close cooperation between Diamond Offshore and HHI on the basis of mutual trust is what made the delivery of Ocean Greatwhite possible," a Hyundai Heavy Industries said in the press release.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Hyundai Heavy Plunges by Record on $1.2 Billion Sale Plan (Dec 27)
- World's Top Two Shipyards Signal More Orders as Earnings Improve (Apr 27)
- Billionaire Fredriksen Buys Rig, Ends Hyundai Dispute (Mar 13)
Company: Diamond Offshore more info
Manages 19 Offshore Rigs
- New Contracts Drive Diamond Offshore's Profit Beat; Shares Rise (Oct 30)
- Diamond Offshore's Profit Beats Estimates On Lower Costs (May 01)
- Offshore Drillers Still Seeking Recovery Enjoyed by Shale (Feb 07)