67 hectares sell for ‘knockdown’ $2.90 sqm north of Brisbane

first_imgThe 67 hectare estate in Mount Mee sold under the hammer for $1.95m.A MASSIVE 67 hectare estate an hour north of the Brisbane CBD has sold under the hammer for a “knockdown” $1.95 million — averaging $2.90 a square metre.The property called Haranel in Mount Mee attracted over 100 enquiries over four weeks, with 55 groups then going on to inspect it, according to agents Ray White Rural Brisbane’s Jez McNamara and Barry Quinn who marketed the property along with Vicki Pain of Ray White Rural Dayboro. The large six bay shed includes a two storey, two bedroom apartment.“A family favourite activity is a campfire and picnic down by the quiet and shady waterfall, the trickle of the water so soothing and restful and ideal on a hot summer’s day for a swim,” the listing said. The property was marketed as “arguably the best home at Mount Mee”.All up that saw 670,000 square metres go under the hammer with a stunning designer Queenslander and a host of other features, with the owner accepting a “knockdown price” of $1.95m.Four bidders registered for the auction which included one interstate buyer and one international, with the buyer ultimately coming out of Brisbane. It has its own little waterfall, perfect for picnics. One bedder sells for a staggering $2.6m More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours ago Chip off the Clive Palmer block New tower to soar over Burleigh The homestead built five years ago has pride of place at the top of large level plateau 1600 feel above sea level with “views in all directions”.“It was these stunning views that inspired the owner’s dream to design and build a special home that would both encapsulate the magnificent views but also to share with a large extended family and their many guests.”center_img The property can run 80 plus head of cattle.The agents said the owners had already bought elsewhere when the property went to auction.The massive property is one of four like it that Ray White Rural Brisbane has sold at Mount Mee in the past two years, the firm said. FOLLOW SOPHIE FOSTER ON FACEBOOK The living areas open up to the deck, pool and spa.The property was listed as “all ex dairy country and ideal for cattle grazing and fattening. The lush pastures can comfortably run 80 plus breeders plus calves year-round”.It also has a swimming pool with spa, steel cattle yards, a spring fed creek perfect for picnics, a small natural waterfall and a large six bay shed that has a two storey, two bedroom, fully self-contained managers’ quarters.last_img read more

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What you can buy for Brisbane’s median home price right now

first_imgThis three-bedroom house at 3 Seabrook St, Kedron, is for sale.BEST MEDIAN UNIT PRICE BUY IN BRISBANE’S NORTH 2 bedrooms, 2 bathrooms, 1 car$395,000 28 Orana Street, Carina This two-bedroom unit at 705/15 Playfield St, Chermside, is for sale.BEST MEDIAN HOUSE PRICE BUY IN BRISBANE’S SOUTH 3 Seabrook Street, Kedron This two-bedroom cottage at 28 Orana St, Carina, is for sale.BEST MEDIAN UNIT PRICE BUY IN BRISBANE’S SOUTH This two-bedroom unit at 705/15 Playfield St, Chermside, is for sale for close to Brisbane’s median unit price.“There are options to improve these abodes with a little renovation work too, so that’san attractive equity-add for those handy with a hammer.”When it comes to units, the valuer suggests looking for resales of modernapartments with two bedrooms and two bathrooms — especially investors hoping to jag good tenants. 2 bedrooms, 1 bathroomOffers over $500,000 This three-bedroom house at 3 Seabrook St, Kedron, is for sale for close to Brisbane’s median house price.North of the river, the report recommends checking out houses in Chermside, Nundah, Kedron and Stafford Heights, where original-condition, post-war homes through to 1980s-era dwellings are available for around the median house price.“This is a pretty handy investment and owner-occupier zone, as there’s terrific potentialif you can be positioned close to transport options and essential services,” the report said.center_img This unit at 18/51 Daniells St, Carina, is for sale for close to Brisbane’s median unit price.On the south side of town, Holland Park, Annerley, Carina and Carina Heights have the best buys in Brisbane’s median price range.“You will need to find a little more cash to open up your options — a touch north of $550,000 would be handy — but the established market is open to you,” the report said.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoThis two-bedroom cottage at 28 Orana St, Carina, is for sale for close to Brisbane’s median house price.BEST MEDIAN HOUSE PRICE BUY IN BRISBANE’S NORTH 705/15 Playfield St, Chermside 18/51 Daniells St, Carina 3 bedrooms, 1 bathroom, 1 car$499,000 Herron Todd White has revealed what you can get for Brisbane’s median home price. Image: AAP/Darren England.AFFORDABILITY and choice are the reasons Brisbane’s housing market offers some of the best opportunities for investment in the country right now, according to a leading property valuer.Herron Todd White has released a national study on what each capital city’s median home price will buy and investors are spoiled for choice in the Queensland capital, with an average price for houses of $550,000 and $380,000 for units.Those looking to sell their high-priced Sydney units and spend a portion of the profits in Brisbane would be wise to look in the city’s middle ring suburbs, according to HTW. MORE REAL ESTATE STORIES 2 bedrooms, 2 bathrooms, 1 car Offers over $365,000 A unit in this complex at 51 Daniells St, Carina, is for sale.last_img read more

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$1m on luxury Oxlade display suite that will be demolished

first_imgMore from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoArtist’s impression of what The Oxlade at 80 Oxlade Drive, New Farm, will look like upon completion.Sales for the Oxlade have just kicked off with the New Farm riverside project to see 39 ultra-luxury residences priced from $1.4m for two bedders to upwards of $3.4m for three bedroom apartments. Two penthouses were priced from $7m each.Brother Ben said they went all out on the display home to ensure buyers knew exactly what they were getting.“We spent $100,000 on the landscaping. If you’re going to be spending this kind of money (on the apartments) you definitely want to be able to walk in and see what you’re getting.” MORE: Baby boomer ‘house party’ goes off Grandson Trent Seymour, who’s a director of The Oxlade development partner Queensland Prime Developments along with sister Kate and brother Ben, said Anna Spiro had completed major projects “like Halcyon House down the coast”.Ben Seymour confirmed the plan was to use the display block for other developments later on, reconfiguring the site each time to suit the floorplan and internal fitouts of coming projects. Eventually the Seymours plan to develop the display site itself into a major residential project. Brisbane kitchen scoops top award Developer Kevin Seymour (centre) with grandsons Trent Seymour and Ben Seymour at the site of their new display suite for ‘The Oxlade’ on Oxlade Drive, New Farm, (AAP Image/Richard Walker)A $100m development of the grandchildren of richlister Kevin Seymour has its own $1.5m house built for display – which would eventually be taken apart.Mr Seymour (snr) confirmed that the display suite of The Oxlade, located a few lots up the road from the Oxlade Drive site, was “costing about a million dollars”.“That’s as much as a quality house in New Farm,” he said, “and then they’re decorating. They got Anna Spiro (Design) and $250,000 on just the decorations.”All up the numbers come to about $1.5m in total, his grandson Ben Seymour confirmed last night. “A record for Brisbane I believe,” he said. Motorsport legend lists luxury pad FOLLOW SOPHIE FOSTER ON FACEBOOK Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Mr Seymour senior said the display would showcase a small section of what the project would be like. “That’s not the whole unit, there will be two bedrooms behind it and a media room, but when they come in they can position their furniture and things like that. It’s very important.”The Queensland richlister was in the process of grooming his grandchildren to take over his legacy. *Full story in Queensland Business Monthly Todaylast_img read more

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Indian Register of Shipping unveils rules for LNG-fueled vessels

first_imgIllustration purposes only (Image courtesy of IRClass)Indian Register of Shipping (IRClass), has released Rules for LNG-fueled coastal and inland vessels in addition to its already established rules for ocean-going ships.These rules will help the maritime stakeholders to promote environmentally friendly fuels for coastal as well as inland vessels, IRClass said in its statement.The rules for gas fuelled vessels have been developed based on a study of the various international requirements such as the ESTRIN (European Standard laying down Technical Requirements for Inland Navigation Vessels), the IMO IGF Code and consultations with various stakeholders.IRClass has also developed rules for pleasure crafts above 24 meters in length which are in addition to its rules for pleasure crafts below 24m length already published earlier. These new rules are developed based on several national standards as well as ISO standards, IRClass said.last_img read more

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SRI: Gov’ts Should Push for Fair Treatment of Seafarers

first_imgInternational backing has been given to a new initiative from London-based Seafarers Rights’ International (SRI), which aims to harness the support of governments worldwide in implementing locally-binding legislation on the fair treatment of seafarers following a maritime casualty.Representatives from more than 50 countries attended a workshop on the subject organized by SRI in conjunction with the International Transport Workers’ Federation (ITF) and addressed by key speakers including Kitack Lim, Secretary General of the IMO.Attendees discussed the key issue of guidelines on fair treatment of seafarers in the event of a maritime accident and explore ways these guidelines could be implemented into national legislation.Deirdre Fitzpatrick, Executive Director of Seafarers’ Rights International, who opened the workshop, said the level of international support at the event across many stakeholder groups was important because it “mixed the practical effects of the guidelines with the legal aspects associated with their implementation.”“We had a panel of three judges from the International Court of Justice, the Tribunal of the Law of the Sea and from the Supreme Court of the Philippines. We also had an emeritus professor of maritime law, a prosecutor, a Lead Auditor from the IMO as well as a casualty investigator from the UK’s Marine Accident Investigation Branch who discussed no-blame casualty investigations,” Fitzpatrick added.Fitzpatrick further said that it is not often that the international law community is given the opportunity to discuss a crucial issue concerning seafarers’ rights in “such an informal but thought-provoking way.”Whilst some governments have already given effect to the guidelines, it is important that other governments consider them and look at ways they can be introduced into their national legislation, Fitzpatrick stressed.“We want to raise awareness of the Fair Treatment of Seafarers at international, regional and local levels, and advise on how best countries can implement the guidelines and have the right laws in place in the event of a maritime casualty investigation occurring in their jurisdiction. The next step will be to run regional workshops outside the UK, and we have already had offers from participants to host similar workshops in their own countries,” according to Fitzpatrick.last_img read more

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Top news, October 16 – 22, 2017

first_imgTidal Energy Today has compiled the top news from tidal and wave energy industry from October 16 – 22, 2017.Atlantis reinstalls fourth MeyGen turbineAtlantis Resources has reinstalled the fourth tidal turbine in the Pentland Firth off Scotland, wrapping up the Phase 1A of the MeyGen project. With the reinstallation of the final turbine, MeyGen Phase 1A will now be capable of operating at its full 6MW capacity generating full Renewables Obligation Certificate (ROC) and power revenues.EU opens €1.5M wave and tidal monitoring callEuropean Commission’s Executive Agency for Small and Medium-sized Enterprises (EASME) has launched a call for proposals for projects related to environmental monitoring of wave and tidal devices. The call was launched on October 16, 2017, and will be open for submissions until January 18, 2018.Canadian tidal energy project bags innovation fundingAcadia University-led tidal energy research project has secured funding from the Canadian Foundation for Innovation (CFI) to investigate the relationship between environment and tidal turbines. The funds will enable creation of the world’s first observation and prediction system for investigating the physical and biological marine environment in high-flow conditions at turbulence-resolving scales, according to Acadia University.Ocean Energy ready for 500kW wave device build-outIrish wave energy developer Ocean Energy plans to begin with the manufacturing of its up-scaled wave energy device this month in the United States. Following the completion of the construction works, Ocean Energy’s 500kW wave energy device, designed around the oscillating water column principle, will be transferred to US Navy’s Kaneohe Bay Wave Energy Test Site (WETS) for a round of grid-connected sea trials.Resen Waves verifies power productionAalborg University has verified the power production on a Resen Waves Power Buoy operating in irregular waves in the sea. Aalborg University found the efficiency of the company’s Power Buoy in harnessing power from the waves is between 50 to 70% even in small waves. The Power Buoy has been designed for powering instruments in the sea and providing real-time data connectivity.Tidal Energy Todaylast_img read more

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Ellicott Equipment for Malawi

first_imgThe U.S. Embassy in Malawi said in its latest announcement that Ellicott Dredges LLC, of Baltimore, MD, recently won a $7 million contract to supply dredging equipment to the Kapichira Hydropower Plant.The main goal of this project, conducted by the Millennium Challenge Account of Malawi (MCA-M), is to improve its power generation by reducing the sediment in the reservoir and therefore, increasing the amount of reservoir water volume and hydropower efficiencies.MCC is working with the Government of Malawi to strengthen a foundation on which the nation’s power system can grow, including infrastructure and enabling policies that encourage accountability and private sector involvement, the U.S. Embassy in Malawi said in its release.The five-year compact, which will conclude in September, consists of three projects designed to take a complementary approach to improving the sector.Infrastructure investments and energy sector reform are complemented by a $31.5 million effort to support hydro-power generation through improved environmental practices in the Shire River watershed.[mappress mapid=”24883″]last_img read more

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EGCSA: 983 Ships Opt for Scrubbers

first_imgThere were 983 ships with exhaust gas cleaning systems (scrubber) installed or on order as of May 31, 2018, Exhaust Gas Cleaning Systems Association (EGCSA) said, citing figures from a survey of its members.The pickup in interest in installation of scrubbers is being reported as ship owners ready for the implementation of the upcoming 2020 sulphur cap.Major industry players such as Frontline, DHT, Star Bulk and Spliethoff have opted for scrubbers and rumors have emerged that one of the top tier players from the container shipping sector has jumped on the bandwagon as well, the association said.“EGCSA believes that although there has been a surge in demand, yard capacity is not an issue going forward, however other constraints such as the availability of laser scanning specialists and experienced installation teams mean that it may not be possible to pick and choose an installation slot nor coincide a scrubber installation with an already scheduled drydock in the near future,” EGCSA added.The association members are still taking orders with several now taking options through to 2023 to enable ship-owners to secure a position on the installation timetable.Back in 2015, RORO and ferry operators became the first adopters of the technology followed by the cruise industry. Now bulk carriers have taken over as top adopters of exhaust gas cleaning systems, with containerships and tankers following suit. In each of these sectors retrofit open loop installations predominate, according to EGCSA.The survey shows that 63% of all ships have either been or will be retrofitted with scrubbers, while 37% are new building installations. 988 of the 1561 individual scrubber towers installed or on order are for open loop scrubbing; confirming it as the most popular exhaust gas cleaning system.As explained, open loop scrubbers are much more simple to install and favored by ship crews.“While closed loop and hybrid systems are available for enclosed bodies of water with little water exchange or where discharges are restricted by local regulation, ECGSA suggests the alternative of switching to low sulphur fuel for the port stay where open loop operation is not possible. The cost impact is likely to be limited as over 90% of fuel consumption is during full away at sea, which is where the financial benefits really accrue,” the association concluded.last_img read more

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Woodside picks KBR for work on Browse FPSOs concept

first_imgAustralian energy company Woodside has awarded KBR the Concept Definition engineering contract for the two gas FPSO facilities for the proposed $20 billion Browse to North West Shelf Development, located offshore Western Australia. Image source: WoodsideWoodside has launched the engineering services contract to define all elements of the hull and topsides of two FPSOs for remote environment operations. The engineering work is expected to be performed up to the end of H1 2019, KBR said on Thursday.The Browse project aims to bring online the Brecknock, Calliance, and Torosa fields offshore W. Australia containing gross contingent resources (2C) of 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate).Woodside had planned to develop the fields using three separate Floating LNG units, however, the company in 2016 stopped the FLNG project citing “current economic and market environment.“The company has recently revealed it is leaning towards the development using two gas Floating Production Storage and Offloading Units (gFPSO) delivering around 10 mtpa of gas to NWS infrastructure by an approximately 900 km pipeline. This was affirmed by KBR on Thursday.Stuart Bradie, KBR President and CEO said: “We are delighted to be awarded the Concept Definition engineering of the two FPSO facilities delivering our operational agility in the execution of projects, strong base business and world-class asset performance to the project.”Browse developmentIn a recent investor presentation, Woodside said the two FPSOs would be connected to the North Rankin Complex, from where the gas would be shipped via a 900 km pipeline to the Woodside-operated North West Shelf infrastructure.FEED entry for the Browse project is slated for 2019, with the final investment decision expected in 2021.According to Woodside’s timeline, the Calliance and Brecknock fields are expected to be ready for start-up in 2026, with 2027 targeted for the Torosa field.The whole development is expected to cost some $20 billion.Offshore Energy Today Stafflast_img read more

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Borr Drilling sees strong case for jack-up market recovery

first_imgAttractive rates ahead? “The combination of accelerating contracting activities, increasing number of tenders and our continued discussions with our customers provide support to our view that jack-up rig utilization levels are expected to continue to improve at an accelerated pace as we move into 2019,” Borr said.Borr feels that the recent drop in oil price might, if continued, slow down the pace of the recovery, however, the driller still finds room for optimism. Borr Drilling says that the oil price drop is not likely to significantly impact the current outstanding tenders which to a large extent have been initiated in an oil price environment that is lower than today.In support of this optimism, the driller cites a recent run of relatively high oil prices (Brent crude went over $80 in 3Q occasionally) and on strong results posted by oil majors, which could lead to growth in offshore drilling spending.“According to Rystad, global oil companies will have a free cash flow in 2018 after investments of US$590 billion, up 100% y/y and the highest level in real terms since 1979. We maintain our view that falling reserve levels, lower project breakeven costs, and strong free cash flow performance will lead to increased investments by our customers,” Borr Drilling said.Article continues below the graphBorr’s rig under construction with expected delivery dates (Source: Bassoe Analytics) Jack-up drilling company Borr Drilling is seeing an increase in jack-up rig utilization, especially in the premium jack-up rig segment, mostly in the Middle East, West Africa, Mexico, and the North Sea.Illustration only. Image source: PixabayThe driller, which currently owns 20 premium jack-ups delivered in 2001 and after, on Wednesday said that the during the third quarter of 2018, global jack-up fleet utilization continued its upward trend driven primarily by increasing utilization of modern jack-up rigs.“Global competitive jack-up rig utilization stood at 75% at the end of September, an increase of one percentage point quarter-on-quarter. Jack-up rigs built after 2010 have experienced a similar increase in competitive utilization which stood at 78% at the end of September 2018, an increase of two percentage points quarter-on-quarter and over five percentage points year-to-date,” Borr Drilling said.Per the driller, in some regions, competitive utilization is above 90%, which is starting to drive pricing higher.“We continue to notice operators’ preference for modern units as evidenced by jack-ups built after the year 2000 receiving approximately 70% of the total backlog awarded year-to-date, and the inclusion of age restrictions in various recent tenders.“Customers’ focus on modern equipment continues, and we see the introduction of age limitations on rigs for participation in several tenders, including large multi-year multi-rig tender processes. This effectively limits a large part of the available jack-up rig fleet from participating in the tenders,” Borr said.Age restriction – No gigs for old rigsThe fact that the operators are increasing in for modern jack-ups, and the fact that older rigs, if not stacked already, will find it hard to compete for future gigs, might boost rates further. If they’re both old and stacked, Borr thinks there’s hardly a chance there may be any economic proposal that could see those rigs back in action.We maintain our view that a significant number of the over 100 jack-up rigs that are more than thirty years old and uncontracted will remain uncompetitive and unlikely to return to the active fleet in the near future, or at all.Borr said: “We maintain our view that a significant number of the over 100 jack-up rigs that are more than thirty years old and uncontracted will remain uncompetitive and unlikely to return to the active fleet in the near future, or at all. In addition, 52 jack-up rigs have been cold stacked for more than two years. Taking into consideration the assumed cost of reactivating these old units, we are of the opinion that these rigs are not economically marketable in current environment.”The driller itself has taken an important role of reducing the global jack-up fleet size. Borr Drilling has recently sold the 1981-built jack-up rig “L1112” ( ex- Ed Holt”), making it the company’s 27th jack-up rig to be divested and retired from the international jack-up rig fleet by Borr and Paragon (bought by Borr) combined since the beginning of 2018.Borr today owns 20 premium jack-up rigs, six standard jack-up rigs (built before 2001) and one semi-submersible. It also has contracts for delivery of nine rigs from yards until the fourth quarter 2020. When all newbuild rigs have been delivered the fleet will consist of 36 rigs, of which 29 premium (27 built after 2011). Higher rig count, higher production? On the number of contracted rigs worldwide, Borr Drilling on Wednesday said there are currently 325 jack-ups under a contract, “up from the trough of 299 in January 2017.”The contracted number of jack-up rigs at the peak in 2014 was 420 units. Apart from the technical specs, age, and the oil price factor, Borr has also selected Saudi Arabia and Mexico examples to prove a case that, in part, an increased rig count leads to increased production, and lower rig count leads to a drop in oil output.The number of land-based and offshore drilling rigs operating in Saudi Arabia is currently 153, which is 14 rigs more than before oil prices collapsed in 2014. Saudi production has in the same period increased by 1 mbd to 10.7m, Borr said.In order to maintain or grow oil production, you need to increase rig activity.“The number of offshore rigs operating in Mexico is currently 19, while the activity levels in 2014 peaked at 52 units. Mexican production has in the same period fallen by 0.8 mbd to 1.7 mbd. These developments illustrate that in order to maintain or grow oil production, you need to increase rig activity. This is partly caused by the fact that the reservoirs become deeper and more complex and need higher drilling intensity.” Tenders accelerating – 75 gigs up for grabs“During the third quarter of 2018, on the back of strong oil prices, operators have continued to display increasing levels of confidence in their future offshore programs,” Borr said.The increased confidence in offshore programs has, Borr says, translated into a noticeable acceleration in tendering activities and direct negotiations across all regions.Citing a report by IHS, the jack-up specialist says there are currently over 75 outstanding jack up tenders equating to a total of 122 rig years on offer, a number that represents an increase of 106% since the beginning of the year. Most of these tenders are for projects starting within the next 12 months.“The combination of accelerating contracting activities, increasing number of tenders and our continued discussions with our customers provide support to our view that jack-up rig utilization levels are expected to continue to improve at an accelerated pace as we move into 2019.” On the back of what it saw as a promising tendering activity, Borr in October 2018 decided to start the activation for an additional four newbuild rigs, on speculation and without a contract secured.Current estimated fixture dayrates for jack-up rigs (Source: Bassoe Analytics)The driller, which has earlier said it won’t be locking its rigs on long-term deals on breakeven rates, now thinks it’ll be able to find employment for the four rigs within the next six months and at attractive dayrates. The company did not say what cash amount constituted an attractive dayrate.Commenting on Wednesday, Borr said: “Supported by the inquiries we today see in the market and the strong focus on modern equipment, we see a good likelihood that we in the next 6 months will be able to contract the 4 rigs currently under activation as well as further units at attractive rates. The increased activity will to a large extent be focused around markets in the Middle East, West Africa, Mexico, and the North Sea.”According to Borr drilling the underlying recovery of the jack-up market is supported by two strong fundamentals: more than 40% of the fleet is more than 30 years old; and shallow water offshore production has significantly lower cash-break even than the marginal shale oil production and also lower cost and shorter pay-backs than deepwater developments.Borr Drilling currently has 14 committed jack-up rigs in total. The company has nine rigs in operations; four in the North Sea, two in the Middle East, two in West Africa and one in South East Asia, and another five premium jack-ups contracted, all of which are expected to start operations between December 2018 and the second quarter of 2019.“During the first half of 2019, we anticipate our operating rig count to be up to 14 rigs and see upside potential to these numbers for the second half of 2019 as we continue to experience increased jack-up tendering activity and customer interest in our fleet,” Borr said.Offshore Energy Today Stafflast_img read more

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