Drydocks World may consider investing in more rigs and vessels on order from its shipyards in Singapore and Indonesia in anticipation of an upswing in newbuild demand after the current economic downturn.
Drydocks' Graha yard in Batam, Indonesia, is planning to build two jackup rigs on speculative orders. The shipbuilder has ordered the drilling equipment and expects to start work on the new units in next March and June. Deliveries are scheduled for the end of 2010 and the first quarter of 2011, according to Managing Director of Drydocks - Graha and Nanindah Mark Biggs. Biggs said the yards have received expressions of interest for newbuild jackups from clients based in Mexico, northern Europe and the Middle East. The final contracts however, may have been slow in materializing due to the current financial crisis. Prior to the investment in these jackup rigs, Drydocks has also invested directly or indirectly in offshore support vessels, according to Biggs. Drydocks holds stakes in Polarcus' seismic vessels now undergoing construction at its Dubai facility. The shipbuilder also owns indirect interests in two 260-man jackup accommodation units under construction at its Graha facility through equity holding in Norwegian Master Marine ASA.
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