As previously reported, Petrobras (PBR) was trying to sell drillship Vitoria 10000 via an auction. Vitoria 10000 is a drillship of a Samsung 10000 design built in 2010, which is currently warm stacked in Brazil. The minimum price for the rig was set at $47.5 million. Bassoe Offshore has just reported that the auction closed with no bids. At first glance, the news looks depressing – no one wants a modern drillship for less than $50 million! However, I believe that it’s a positive development. Here’s why.