Transocean: ‘An Increasingly Marginalized Fleet’

Morgan Stanley’s Ole Slorer and Jacob Ng slashed their rating on Transocean (RIG) to Underweight from Equal Weight yesterday. A big part of the reason: Transocean’s older fleet. They explain: Lucy Nicholson/Reuters An increasingly marginalized fleet: We believe that current rig market conditions could motivate Transocean to cold-stack up to 17 other lower-end (2G/3G/4G) floaters [...]