Floater market sinking

LONDON-based Seadrill, which has just posted a loss on $2.5 billion in write-downs, says more ultra-deepwater floaters have been scrapped over the past 14 months than in the last 20 years combined, but the longer low oil prices persist, the stronger they will bounce back.

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Seadrill said in its third quarter earnings report that while it sees some recovery in oil companies' spending in 2017 after two significant year-on-year declines, it's hard to see through the fog of

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