Business & Finance
GMS gets breathing space from banks
Gulf Marine Services (GMS) has agreed on an extension for the conclusion of improved terms for debt structure with its banks.
KSOE nets order for 6 containerships
South Korean shipbuilding heavyweight Korea Shipbuilding & Offshore Engineering (KSOE) has won orders for a total of six containerships worth approximately $818.4 million (KRW 891 billion). The identity of the Asian-based shipowner behind the order was not disclosed. According to Yonhap, the ships w
Petronas firms up contract award for mobile offshore production unit
Tanjung Offshore Services has won a contract from Petronas Carigali for the Bayan Redevelopment Project Gas Phase 2 in Sarawak, Malaysia.
Cenovus completes merger with Husky Energy
Canadian oil firms Cenovus and Husky Energy have closed their previously announced merger, creating Canada’s third-largest oil and gas player.
Suncor to book $425 million impairment on White Rose assets
Suncor will record a non-cash after-tax impairment charge of approximately $425 million in 4Q 2020 on its share of the White Rose asset and West White Rose.
Boskalis snaps up Rever Offshore’s subsea services unit
Dutch marine contractor Boskalis has acquired all the shares of Rever Offshore’s subsea services business. Rever, formally known as Bibby Offshore, provides solutions in the area of subsea construction, inspection, repair and maintenance. The company has historically operated in the North Sea out of
McDermott completes raising $560M in new funds
U.S. offshore engineering and construction services provider McDermott has completed the raising of around $560 million in new capital.
i3 Energy abandons ‘sub-commercial’ Liberator licence
i3 Energy has relinquished its UK North Sea licence which contains the Liberator field, after determining that its development would not be commercially viable.
Equinor gets consent for use of well intervention vessel
Equinor has received consent from the country’s offshore safety agency for the use of the Island Wellserver vessel for well intervention.
CSSC Shipping pens sale and leaseback deal for Kamsarmax newbuilding quartet
CSSC (Hong Kong) Shipping Company Limited, a leasing company of China State Shipbuilding Corporation, and Minjun Shipping, wholly-owned by China Minsheng, have entered into a $133 million sale and leaseback deal for four 85,000-DWT bulk carriers. The agreement includes an estimated lease interest of
Evergreen Marine in talks to sell and leaseback 24,000 TEU pair
Taiwanese container shipping company Evergreen Marine has launched negotiations with an unnamed counterparty to sell and leaseback two 24,000 TEU containerships. As disclosed, the deal would be carried out through Evergreen’s subsidiary Greencompass Marine S.A. (GMS). “We will make further disclosur
Eni awards another extension to BW FPSO in Nigeria
FPSO operator BW Offshore has been awarded a contract extension for its Abo FPSO from Eni for operations on a field located offshore Nigeria.
Total enters new block offshore Egypt
An international consortium led by Total and EGAS have signed an exploration and production agreement a block located offshore Egypt
Pacific Drilling emerges from bankruptcy
Offshore drilling contractor Pacific Drilling has completed its balance-sheet restructuring and has emerged from the Chapter 11 process.