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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: diana g who wrote (17054)3/29/1998 10:07:00 AM
From: Big Dog  Read Replies (1) of 95453
 
Asian yards are in the forefront of buidling rigs. They are mostly cheaper than a rig built by FGII. You have Samsung, Hyundai, Mitsubishi, FELS, Daewoo, Dalian and others.

Their prices may be a bit lower, but not that much. And with rigs there is more than price that enters the equation. You have reliability and reputation of the yard, financial stability, deliverabilty of the rig on schedule and which one spends the most on the driller dude at The Men's Club (just kidding, but it helps).

One difference in some Asian yards is they ask us...what price does this need to be? Then they will figure out a way to make it that price. This is a slightly different way of negotiating.

So don't worry about the Asian yards, they have been in the thick of it from the beginning. And if you notice, the Ocean Rig hulls will be fitted out at FGII after completion do in part to the Asian flu making Ocean Rig nervous about stability over there.
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