Maersk Drilling expects higher utilization and day rates in longer term

While Maersk Drilling’s 1Q 2019 result was impacted by lower day rates and expiry of legacy contracts, the driller expects improved market fundamentals with increased utilization and higher day rates in the longer term.

Maersk Drilling earlier this year demerged from its parent company, the Danish shipping giant Maersk, and in early April listed on the Copenhagen Stock Market.

The shipping giant has been working to move away from the oil and gas-related business and demerged the drilling contractor but kept its vessel-owning business Maersk Supply Service as its strategy shift proved fruitful.

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