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Offshore Shares

Superior Offshore Shares Plunge

Shares of Superior Offshore International Inc., plunged after the company delayed filing its third-quarter financial statement. A Merrill Lynch analyst downgraded the Houston-based company's stock to "Neutral" from "Buy." Superior Offshore shares dropped 77 cents, or 9 percent, to close at $7.83, after plunging 24 percent to $6.56 earlier in the session. The stock has dropped more than 40 percent since its initial public offering priced at $15 in April. In a Securities and Exchange Commission filing, Superior Offshore said the third-quarter filing was delayed as the company determines whether it is required to reclassify long-term debt as current debt. Superior Offshore said the reclassification may be necessary under the terms of a waiver from a lender related to defaults on the company's senior secured term loan facility. The company is currently negotiating a term loan facility with another lender to refinance the facility. Source: CNN


Offshore Shares Are Leading The Way

Offshore shares on the Oslo Stock Exchange continued to rise in November, buoyed by the continuing high oil price and expectations of increased level of activities from oil companies in the year 2000. After a few dismal months, offshore shares regained the positive position they have occupied for most of the year. Other maritime shares fell during November so it was offshore and cruise that carried the Shipping Index to a 1.9 percent rise for the month and the rise of 36


Seadrill Sells FPSO Crystal Sea

Seadrill Limited, the owners of the Crystal Sea, have completed a sale of the FPSO vessel to BW Offshore. The total consideration for the FPSO vessel is $80 million of which $60 million in cash and U20 million in BW Offshore shares. BW Offshore Limited is a Oslo Stock Exchange listed company.


Shipping Outperforming Offshore In October

Higher oil prices have helped the Oslo Stock Exchange's shipping index, which features maritime and offshore shares, to rise by 33.7 percent so far this year - outperforming the exchange's other indexes. Share prices of offshore shares have decreased for two months now, resisting the influence of continued buoyant oil prices. The value of shares on the Main List dropped 5.6 percent in September and 13.6 percent in October. The 19


$230M Offshore Contract Announced

Saibos CML, an equally-owned subsidiary of Bouygues Offshore and Saipem SpA, has been awarded a contract for the Kizomba A Development Project in Angola for an approximately total amount of $230 million (Bouygues Offshore's share: approximately $115 million). Esso Exploration Angola (Block 15) Limited (Esso), a subsidiary of Exxon Mobil Corporation, is the operator (40%). Other participants include BP Exploration (Angola) Limited (26.67%), Agip Exploration Angola B.V. (20 %) and Statoil (13


Bouygues Offshore Logs New Contract

Technigaz, a wholly-owned subsidiary of Bouygues Offshore, will build a Liquefied Natural Gas (LNG) tank in Palos de Frontera, Spain under a contract awarded by ENAGAS. This contract, for a total amount of EUR 40 million (Bouygues Offshore's share: EUR 28 million) will be performed by a Joint-Venture of Technigaz (70%) and Initec (30%). The customer, ENAGAS, is the only LNG importer in Spain so far. This turnkey contract covers Engineering, Procurement


Gas Prices, Offshore Shares Fall In Tandem

Gasoline prices on the benchmark New York Mercantile Exchange (NYMEX) Monday dipped below 90 cents a gallon for the first time in nearly three months, signaling the end of this summer's red-hot run. After trading above a record $1.05 a gallon for most of June, front month gasoline futures have made a 16 percent dive to Monday's midday low of 88.50, the lowest intraday level seen since May 4. Gasoline last closed below 90 cents a gallon on May 3


Aker Kvaerner Acquires RR Offshore

Aker Kvaerner has entered into an agreement which gives full ownership of Finnish RR Offshore and ends the co-operation between Aker Kvaerner and its former Russian partner ST Holdings. As part of the agreement, Aker Kvaerner sells its shares in the Astrakhan Korabel yard to ST Holding. The parties have agreed to not disclose any transaction values. RR Offshore OY is a Finnish engineering and project management company with


Stolt Offshore Wins $120M in Contracts

Stolt Offshore S.A. received contract awards and Letters of Intent totaling approximately $120 million from various customers operating in the North Sea. In the UK sector of the North Sea, BP has awarded Stolt Offshore two contracts totalling $12.4 million for construction and installation of the gas import/export system for Clair Phase 1 and the tie-in of the Clair oil export and gas import/export pipeline systems. BP has also awarded Stolt Offshore a contract, valued at approximately $19


NCA Acquires More IOS Offshore Shares

Norse Cutting & Abandonment AS (NCA) has acquired an additional 21% of mooring specialist IOS Offshore, bringing its total engagement up to 91%. IOS Offshore (IOS) offers rental, sales and service of specialized mooring and lifting equipment. The company has several bases along the Norwegian coast and delivers chains, buoys, mooring lines, anchors and lifting equipment to oil companies and rig operators. Their main office is located in Dusavik outside Stavanger.  


BW Offshore Awards SatCom Contract to Orange

SatCom dish: File photo

Provider of floating production services to the oil and gas industry, BW Offshore, says it has signed a 5-year, $12 million contract with Orange Business Services for an end-to-end satellite communication solution for its fleet of oil and gas production vessels.


N-KOM Lays Keel for Qatar’s First Liftboat

N-KOM & Gulf Drilling International senior management and project teams at keel laying ceremony of liftboat Al Safliya (H101) held at the N-KOM Shipyard in Qatar

Nakilat-Keppel Offshore & Marine (N-KOM) has achieved another milestone with the keel laying of its first liftboat newbuild project, awarded in July 2014 by long-time client Gulf Drilling International (GDI). The project marks the shipyard’s first foray into the offshore jack-up newbuild


Petroleum Geo-Services ASA : Mandatory Trade Notification

Logo

  Rune Olav Pedersen is awarded 25 000 Performance based Restricted Stock Units as a result of his promotion to General Counsel and SVP Communications and Marketing of PGS, with effect from September 1, 2014.   Following the award


NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

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The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council. The board backed the offer from Christchurch City Holdings Ltd, which controls 95


Drydocks World to Participate in SMM 2014

Khamis Juma Buamim Chairman Drydocks World and Maritime World

  Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding, Machinery, and Marine Technology (SMM) Exhibition, from September 9-12, 2014


Rolls-Royce Holdings' Voting Rights and Capital

  In accordance with DTR 5.6.1 of the FCA's Disclosure and Transparency Rules (DTR), the Company is required to notify the market of its total number of voting rights and capital as at the end of each calendar month.   The issued share capital of the Company is comprised of the


EOC Takes Full Ownership of OSVs

Lewek Antares

  On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore, from Konquest Marine Pte Ltd ("KMPL")


ABS to Class First Self-elevating Unit Built in Qatar

ABS, a provider of classification services to the global offshore industry, was selected by Nakilat-Keppel Offshore & Marine (N-KOM) to class its LB310S liftboat, the first ever self-elevating unit built by the shipyard and the first built in Qatar


Seadrill's Q2 2014 Revenue Holds Nearly Steady

Drill ship: Photo courtesy of Seadrill

Revenues for the second quarter of 2014 were US$1,222 million compared to US$1,221 million in the first quarter of 2014, according to the company's financial report. Operating profit for the quarter was US$476 million compared to US$890 million in the preceding quarter


OWS Christens Damen Fast Crew Supplier

Attendees pose for a photo with OWS’ new Damen FCS 2008 vessel, Offshore Waddenzee, during the christening ceremony at Damen Oranjewerf Amsterdam, on August 22 (Photo: Damen)

Offshore Wind Services’ (OWS) latest Damen vessel – the Fast Crew Supplier 2008 Offshore Waddenzee - was officially named at Damen Oranjewerf Amsterdam, on August 22. The FCS 2008 is the second Damen vessel ordered this year by the Dutch company


ABS Opens Office in Beijing

abs logo.jpg

ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government


Boskalis Update on Share Buyback Program

Royal Boskalis

 In the period from 18 August up to and including 22 August, Royal Boskalis Westminster N.V. (Boskalis) repurchased 150,500 of its own shares at an average price of EUR 41.5715 per share for a total consideration of EUR 6,256,515.50 million.


KNOT Purchases 3 Shuttle Tankers from J. Lauritzen

Shuttle Tanker

  Knutsen NYK Offshore Tankers AS (KNOT; headquarters: Haugesund, Norway), of which NYK has a 50 percent share, has officially reached an agreement with J. Lauritzen A/S (headquarters: Copenhagen, Denmark) to purchase its three shuttle tankers.*  


Rosneft and NADL Sign Exchange of Assets Deal

Rosneft president Igor Sechin

  Rosneft, Seadrill Limited and North Atlantic Drilling Limited (NADL) signed a Framework Agreement that envisages long-term cooperation in the sphere of oilfield development projects. The document foresees the acquisition by Rosneft of NADL shares through an exchange of assets and


Lloyd’s Register's New, Consolidated, Rules for Offshore Units

Courtesy Lloyd’s Register

  Lloyd’s Register has launched its new Rules for Offshore Units in one single document following an in-depth consultation with industry. It signals a move by the world’s oldest classification and certification society, to modernise the way in which Rules and their guidance notes






 
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