Category Ship building
Xcite Energy, a UK-based oil and gas company, is in talks with creditors to try and renegotiate the terms of its $139.05 million bond ahead of debt maturity on June 30, 2016. The company says its current and forecast cash position is insufficient to repay the bond capital in full by the June 30 deadline,
Activity at Aberdeen Harbour remained steady throughout 2015 resulting in the port recording a 9.7% increase in turnover, up from £28.9million in 2014 to £31.7million in 2015. Pre-tax profit was also up by 21% at £15.03million, compared to £12.4million the previous year. A 6% drop in vessel numbers, from 7,937 to 7,428 is consistent with
Subsea 7, a subsea engineering, construction and services company serving the offshore energy industry, on Friday announced the award of a ‘major EPCI contract’. The company defines a major contract as being worth over $750 million. Subsea 7 said on Friday that the EPCI contract is for offshore execution in 2017 and 2018. However, no
Technip has announced an all-stock merger with U.S. rival FMC Technologies to create an oil services group with combined revenue of $20 billion (13.7 billion pounds). The transaction is expected to deliver annual pretax savings of at least $400 million as of 2019 and boost earnings per share significantly, the companies said in a statement
Offshore support vessel owner Vallianz Holdings said on Monday (May 16) that it has secured new charter contracts worth up to US$210 million (S$288 million), bringing its order book to a record-high US$1.2 billion. The Singapore-listed group has clinched long-term charter contracts for the supply of 13 offshore support vessels to a national oil company
Singapore’s offshore vessel owner Atlantic Navigation has secured work for ten of its offshore supply vessels in the Middle East. The company on Friday said the combined value of the vessel charters was $236 million. The vessels will work for an undisclosed national oil company. According to Atlantic Navigation, the company will supply five Maintenance/Work/Utility
An offshore vessel provider to the oil and gas industry, DOF, has secured two new charter contracts for two of its Anchor Handling Tug Supply (AHTS) vessels. DOF stated on Tuesday that their subsidiary, DOF Management Australia has signed two contracts with Schlumberger Asia Services for the Skandi Emerald and Skandi Giant. The company said
Vard, a Norwegian company building vessels for the offshore oil and gas industry, is evaluating its options following last week’s news on Harkand entering into administration. To remind, Harkand Group, a provider of subsea capabilities and services to the energy industry, last week entered into administration following losses as a result of a prolonged low
Samsung Heavy Industries, one of the world’s largest shipbuilders, has lost a potentially huge order it had for the construction of three FLNG units. Namely, Samsung Heavy Industries had, in joint venture with Technip, won a front-end engineering design (FEED) contract for the Woodside-operated Browse FLNG project, offshore W. Australia. Additionally, a contract potentially worth
Offshore marine services provider, PACC Offshore Services Holdings (POSH), has been awarded long-term charters for eight offshore supply vessels with a combined value of approximately $167.5 million by a Middle Eastern national oil company. The group will supply eight Anchor-Handling, Supply and Safety Standby vessels, of which six will be newbuilds. The vessels, on a