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Seadrill scraps $2.3bn of orders at Korean yards

John Fredriksen’s oil-drilling business has reached an agreement with SHI and DSME to cancel the building contracts of four drilling vessels, as part of its restructuring plan. The shipyards are looking to sell the ships, with the original buyer having the exclusive negotiating rights until May 28

SHI and DSME say they are seeking buyers and working to minimise the financial impact

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