Seadrill Delays Newbuilds amid Challenging Market

first_imgzoom Offshore drilling company Seadrill has delayed deliveries of two drillships currently under construction for two years amid volatile market conditions that pushed the company’s profit by 37% in the second quarter of 2015.The drillships in question are the West Draco and West Dorado whose deliveries have been pushed back from the third and fourth quarter of 2015 until the end of the first quarter of 2017.“Contract renegotiations with our customers are progressing and we have reached agreements with two shipyards to manage our delivery schedule. We believe market conditions will remain challenging through 2016, and we will continue to focus on safety, efficient operations and cost management,” said Per Wullf, CEO and President of Seadrill Management Ltd.The expected 2015 deliveries of eight jack-ups currently under construction have been amended as well, deferring one unit to the end of December 2015, five units to 2016 and two units to 2017.According to Seadrill, discussions with shipyards are ongoing in regards to the delivery dates for the remaining units.Seadrill currently has 15 rigs under construction comprised of four drillships, three semi-submersibles, and eight jack-ups.Total remaining yard instalments for these newbuilds are approximately $4.3 billion and $1.1 billion has been paid to the yards in pre-delivery instalments, the company said.last_img read more

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Muslims donate 10 tonnes of food in charity drive for homeless at

first_imgShaykh Abdul Qayum, Chief Imam of the East London Mosque, added: “Muslims are inspired by their faith towards helping others in need. It is a religious duty for Muslims to try to help others, irrespective of a person’s faith or background. This compassion is truly reflective of what Islam stands for.“In the cold winter months when we have the luxury of a home and hot food, it’s easy to forget about others that are in dire need around us. So it is in that spirit we take part in this big food drive.”Ian Richards, Head of Crisis at Christmas, said: “Every year, Crisis opens its doors to thousands of homeless people, offering a safe, warm welcome with food and companionship, as well as access to vital services and year-round opportunities.”one of this would be possible without the generosity of our donors, and we’d like to thank Muslim Aid and the East London Mosque for their kind support. This food will help us provide a lifeline for homeless people this Christmas and bring them one step closer to escaping homelessness for good.” Volunteers with some of the donated food Pupils of the London East Academy were among those who helped with the food driveCredit:Muslim Aid/Ben Stevens Muslims in London have donated 10 tonnes of food to feed the homeless.The charity drive, organised by Muslim Aid and the East London Mosque in Whitechapel, saw hundreds of congregants arrive to Friday prayers bringing food donationsThe food will be given to homeless charity Crisis, with more than 90 per cent going to  non-Muslims,Dilowar Khan, Executive Director of the East London Mosque said: “It was heart-warming to see so many people bringing food to the Mosque and a good sign of our common humanity. We need to build on this and make sure that we support those less fortunate all year round.” Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings.center_img Volunteers (l-r)Askor Ali, Head Teacher of the London East Academy school, Jehangir Malik, CEO of Muslim Aid, Reverend Bernadette Hegarty of St Pauls, Bow Common Church, Dilowar Khan, Executive Director of the East London Mosque and Muslim Aid volunteer Fatema Mawji (l-r)Askor Ali, Head Teacher of the London East Academy school, Jehangir Malik, CEO of Muslim Aid, Reverend Bernadette Hegarty of St Pauls, Bow Common Church, Dilowar Khan, Executive Director of the East London Mosque and Muslim Aid volunteer Fatema MawjiCredit:Muslim Aid/Ben Stevens The Reverend Bernadette Hegarty of St Pauls, Bow Common Church, said: “Giving is an important part of both the Christian and Islam faith and it is important for us to be working together to do what we can to support our brothers and sisters.”Jehangir Malik, Chief Executive of Muslim Aid, said: “With austerity cuts and the housing crisis, more and more people are ending up on the streets – destitute.”We, as a Muslim charity, want to do everything we can to help the most vulnerable people in this country this Christmas, regardless of faith or background.“Helping those in need is one of the five pillars of Islam and as temperatures plummet we need to do everything we can to protect those most at risk.”last_img read more

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