Maersk Drilling has taken advantage of the collapse in the offshore market to snap up a brand new jack-up drilling rig.

The drilling unit has been acquired from US-listed Hercules Offshore, which entered chapter 11 bankruptcy protection late last year.

Maersk’s decision to acquire the rig was helped by the fact that it comes with a five-year charter worth $420m from sister company Maersk Oil.

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