Announcing a term chartering update, DHT Holdings, Inc. has chartered out a VLCC, two Aframax vessels and a Suezmax vessel. The VLCC DHT Chris has been chartered to a major commodity house for a period of about 10 months from February 2015 at a rate of $45,000 per day. Additionally, two Aframax vessels, the DHT Sophie and the DHT Cathy, have been chartered to an oil major for a period of 24 months from April/May 2015 at a rate of $22,500 per day. Lastly, the Suezmax DHT Target has been chartered to an oil major for a period of 12 months from March 2015 at a rate of $30,000 per day. These four time charters are expected to generate about $20 million after operating expenses and debt service for the period from April 1 to December 31, 2015.
Offshore service provider Ezra Holdings has announced that subsea division, EMAS AMC, has won global contracts values at over $115m including options, reports Business Times. These contracts include one for rigid pipe lay for the Aviat field development in the UK North Sea; engineering and offshore support work in West Africa for an oil major which will be undertaken together with Ezra's subsidiary company, EMAS Offshore Limited.
Increased spending on offshore exploration & production (E&P) of oil and gas has increased order-book positions of Indian shipbuilders. ABG Shipyard has an order backlog of Rs 1,300 crore, while Bharati Shipyard has pending orders worth Rs 676 crore on its books. The jump in order books is getting reflected in stock prices of these companies as well. BSL has seen its market cap soar to almost Rs 900 crore from Rs 309 crore at the beginning of 2005
New office in Vietnam at the port of Vung Tau announced at Maritime Vietnam London Offshore Consultants (LOC) announced further expansion in Asia Pacific with the opening of a new office in Vietnam. The new office in the port of Vung Tau, which will formally begin operations in May, will be managed by Kenny Ong, who is highly experienced in major offshore oil and gas projects across Asia, especially in Vietnam. The office will provide oil majors, contractors, underwriters
Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services, says that it has secured time charter contracts with two oil majors for its deep water anchor handlers, GO Sirius and GO Spica. Employed in drilling and pre-lay support, the 16
Swiss-trading house Trafigura has purchased one of three liquefied natural gas (LNG) cargoes offered by Australia's North West Shelf export plant as part of a tender awarded late last week, four traders said. The winners of the remaining two cargoes are thought to be a mid-size oil major and a Japanese electric utility, traders said, although it was not possible to confirm this. Asian spot LNG prices are trading at around $9 per million British thermal units for March delivery.
Driven by the sustained high price per barrel of oil, oil majors Chevron and Amerada Hess today announced outstanding financial results for the second quarter. Chevron, the No. 2 U.S. oil company, posted second-quarter profits which more than doubled, matching analysts' expectations, thanks to stronger oil and natural gas prices. Second-quarter earnings excluding special items rose to $1.14 billion, or $1.75 a diluted share, from $484 million, or 73 cents a diluted share, in the year ago period
According to a September 21 report from the Associated Press, a top official at French oil major Total SA warned that a proposal to overhaul Nigeria's oil industry would hobble foreign investment, just as the firm prepares to bring a major offshore field into production. Analysts said the petroleum bill would sharply reduce the profits of foreign oil companies like Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and Total, all of whom have subsidiaries operating oil fields in Nigeria
Singapore's EMAS, the operating brand of Ezra Holdings, announce that its Subsea Services (EMAS AMC) and Offshore Support Services (EMAS Marine) divisions have been awarded projects worth US$110 million. These projects will be executed in the Gulf of Mexico and the Asia-Pacific region. EMAS AMC’s project wins come from a national oil company operating in the Gulf of Mexico for a SURF type offshore installation project
Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares. Having sold around $120 billion in assets in recent years to boost balance sheets and keep up dividend payouts, companies are expected to increase borrowing and further cut costs as they come to terms with oil prices that have more than halved
Anadarko Petroleum is in talks with newly formed Japanese joint-venture vehicle Jera, set to become the world's biggest buyer of liquefied natural gas (LNG), to sell long-term supply from its Mozambique export scheme. The U.S. oil major's gas finds in Area 1 of Mozambique's Rovuma
Dorian LPG Ltd., a leading owner and operator of modern Very Large Gas Carriers reported today that it took delivery of the ECO VLGC Cobra from Hyundai Samho Heavy Industries. As previously announced, Cobra, Dorian LPG's sixth newbuilding delivery
Norwegian oil major Statoil has awarded Samsung Heavy industries an $888 million contract for two platform decks on the giant Johan Sverdrup field in the North Sea, it said on Tuesday. The contract includes fabrication of decks for both the process and riser platforms for the Sverdrup
Norwegian oil major Statoil said on Wednesday it will suspend a rig contract with Italy's Saipem due to overcapacity in its rig portfolio. The suspension of Saipem's Scarabeo 5 rig will take effect from the middle of August, and will last until March 1 next year, Statoil said in a statement.
British oil major BP and China's Sinopec Fuel Oil are starting a Singapore-based joint venture in ship fuel storage and sales, BP said in a statement on Tuesday. The 50/50 joint venture, which builds on a similar agreement signed in 2011, will leverage both companies' existing bunkering
NewLead Holdings Ltd. has entered into a time charter contract with for one of its recently delivered bitumen tanker vessels, the Ioli, for a minimum of one year. The vessel has already been delivered to the charterer that has the option to extend the time charter contract for up to four
British oil major BP and China’s Sinopec Fuel Oil have formed a marine fuels bunkering joint venture (JV), BP Sinopec Marine Fuels Pte Ltd. Under the deal, the 50-50 percent joint venture, BP Sinopec Marine Fuels Pte Ltd
Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million. Ocean Falcon, a new Class A Multi Role and Emergency Response and Rescue (MRV/ERRV) vessel
Over $750 million worth of fuel oil traded 1st week of June. Trading frenzy leads to record price swing. Major commodity houses are betting against each other on the direction of fuel oil in Singapore, the world's largest market for shipping fuel
A Royal Dutch Shell PLC drilling rig that will search for oil in the Arctic pulled out of its temporary base in Seattle on Monday for the trip north to Alaska as dozens of activists in kayaks tried to stop its movement, authorities said.
US-headquartered owner and operator of modern Very Large Gas Carriers (VLGC) Dorian LPG took delivery of the ECO VLGC Cougar from Hyundai Samho Heavy Industries. Cougar, Dorian LPG's fourth newbuilding delivery, will initially trade in the spot market through the Helios
Cost-cutting in Britain's North Sea oil and gas sector could lead to more acute skills shortages in future, industry experts have warned, with some expressing concerns that safety could be compromised. A plunge in crude prices over the last 12 months has prompted oil majors such as Royal
United Shipbuilding Corporation (USC) has taken on 53.5122% of the voting shares of the long planned Far Eastern Plant Zvezda shipbuilding complex in Russia’s Far East. Zvezda (a company of the Far Eastern Shipbuilding and Ship Repair Center
Transocean Ltd, the world’s largest offshore driller, has delayed delivery of two new ultra-deepwater drillships, the company announced. The company amended its drillship construction contracts ($540 million each) with Jurong Shipyard, a subsidiary of Sembcorp Marine
Move comes amid worries of seasonal dent in Alaskan supply; gap between U.S., international crude prices narrows. Refiners on the U.S. West Coast and Hawaii have stepped up purchases of Russian crude, taking advantage of a narrow gap between U.S