Offshore Drilling Contractor Shelf Drilling has terminated a bareboat charter with China Merchants for two jack-up drilling rigs.
Shelf Drilling announced a deal for the acquisition of two jack-up rigs, with an option to buy two more, from China Merchants back in February 2019.
It was agreed that Shelf would buy the first two rigs, of Gusto MSC CJ46 design, for a price of $87 million per rig, and to enter into bareboat charters of, and the option to buy, two additional CJ46 jack-up rigs.
The termination shall be effective upon the settlement of a total charter payment of USD 4 million, payable by the Company in September 2020.
