Reportedly, Essar Shipping, a part of Essar Group, is expected to take delivery of the first jack-up rig from Indian ABG Shipyard by December, followed by the second one six months after that.
The jack-up rig forms an integral part of the $440 million order that ABG Shipyard bagged from Essar Shipping in mid-2008.
Under the original contract the delivery of the first rig was supposed to happen by October 2010 and the next one by January 2011.
There had been a delay in the delivery schedules as Essar wanted certain changes in the technical specifications for the purpose of better deployability, LiveMint reports.
The said technical improvements enable these rigs to be deployed in Mexico, the Middle East or on the east coast of India, attributing them with a higher level of flexibility.
Essar Shipping swung to a profit of Rs 54.98 crore in the quarter ending with March 31, 2012 from a loss of Rs 0.67 crore from the preceding year.
The company has a strategy to deploy its vessels on long-term charters that along with the drilling business, contributed significantly to the improved financial performance of the company in 2012.
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World Maritime News, May 20, 2012