GlobalSantaFe SCORE Shows Weakness in Semisub Market

GlobalSantaFe Corporation reports that the August 2002 SCORE was down from the previous month's SCORE by 4.5 percent.

GlobalSantaFe President and CEO Sted Garber said, Worldwide SCORE showed continued weakness in August for the semisubmersible rig market. This was especially true in the North Sea, where overall softness continued to put downward pressure on semisubmersible dayrates.