Chasewood has been engaged in the drilling rig sector since the firm’s inception. The primary activity has been assisting in the sale and purchase of existing units. The rig markets have been noted for their cyclicality which has led to the entrance and exit of many participants, considerable merger activity and corporate restructuring. Bareboat chartering and the sale and lease back of drilling rigs have also been significant activities.
Commercial services are provided to existing and aspiring rig owners and shipyards for the contracting of newbuildings. Chasewood Limited is also involved in the conversion of non-drilling hulls into drilling rigs.