Transocean wary of rig race, restarting off Egypt

Transocean Ltd, the world's largest rig contractor, is concerned that a recent rig-building trend could get out of hand as companies opt to build them simply because others are doing so.
Chief Executive Steven Newman said there was a risk of "me too" behavior with contractors all trying to upgrade the quality of their fleets at once, whether or not there was demand for the new equipment.
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Source: Forex Yard