Since June, Zhoushan Changhong International Shipyard Co., Ltd. has imported six scrap ships, which weigh 89,000 tons and are worth $ 17.9 million. The three indicators are the highest ever. These six imported ships are all in drilling operations, which are all scrapped by the world's largest ship owner Swiss drilling company Transocean.
It is reported that since the sharp drop in oil prices from 2014, oil companies have cut down significantly the budget in oil exploration and development, thus indirectly resulting in reduced floating drilling platform chartering activities and daily declining rental fleet utilization. The drilling ship owners do earn little, so many choose to implement of dismantling scrapped old drilling platforms. Under such circumstances, these promote to dismantle scrapped ships objectively.