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.
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
Norwegian oil major Statoil said on Tuesday it will pull out of Alaska as its exploration leases in the Chukchi Sea no longer looked competitive. "Since 2008 we have worked to progress our options in Alaska. Solid work has been carried out, but given the current outlook we could not support continued efforts to mature these opportunities," Statoil exploration chief Tim Dodson said in a statement.
Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields and contract terms, hindering investment decisions. Bosses from oil majors including BP, Total, Eni
Netherlands-based Sea Trucks Group (STG) said it has secured a contract award from an oil major in West Africa. STG was awarded an inspection, maintenance and repair contract for anoil major in West Africa with commencement during Q4 2016
Asian spot liquefied natural gas (LNG) prices rose this week as strong expected demand from South Korea added to appetite from India and Taiwan, while supply from the United States was slow to return from maintenance. The price of LNG for December delivery was $6
A fire in an engine room on Saipem's Scarabeo 5 drilling rig is now under control, Norwegian oil major Statoil said in a statement on Tuesday. "There are no longer visible flames or smoke... and the situation is under control. We are now working on a final clarification and towards
Nigeria’s crude oil production and exports have been hit by severe outages as a result of attacks on oil infrastructure by rebel fighters in the Niger River Delta. Various sources report that Qua Iboe Terminal has shut down operations until further notice
Following a comprehensive exercise to insource all ship management functions and to build a fully integrated shipping company, Golar LNG recently chose the BASSnet software as the core building block for the management of its fleet of 23 LNG carriers.
The U.S. government agency created after the 2010 Deepwater Horizon oil spill plans in coming weeks to unveil tougher financial requirements for offshore oil producers aimed at protecting taxpayers from the risk of cleaning up abandoned oil rigs, an agency executive told Reuters.
Damen Shipyards Group has teamed up with the global leader in motion compensation access solutions, Ampelmann, to conduct tests with Ampelmann’s L-Type system on board a Damen Fast Crew Supplier (FCS) 5009. Damen is developing its marine access solutions in order to guarantee increased safety
Tsakos Energy Navigation Ltd. (NYSE:TNP) has taken delivery of the aframax tanker Elias Tsakos, part of the 15-vessel newbuilding program and the first of the nine assigned for the Statoil long-term business. The vessel was delivered from Daewoo Mangalia Heavy Industries and will immediately
China’s Unipec remained the top spot charterer of dirty tankers and VLCCs in the first half of 2016, according to Poten & Partners. In stock of the spot market activity in the dirty tanker market nothing (much) has changed between 2015 and 2016.
DNV GL has welcomed the world’s largest semi-submersible drilling rig into class recently. Ocean Greatwhite is 123 metres long and 78 metres wide and was delivered at Hyundai Heavy Industries in Ulsan, South Korea. Owned by the Houston-based drilling contractor Diamond Offshore
GAC UK and Forth Logistics Marine Services (FLMS) have formed a partnership to provide mooring and related terminal services around the UK. Formed on the back of a long term contract in the River Forth with an oil major to be announced later in the year
A top priority for a new movie about the deadly 2010 Gulf of Mexico oil spill was ensuring it accurately depicted the disaster that killed 11 workers, its director and main actor said. "Deepwater Horizon", which had its world premiere at the Toronto International Film Festival
Concerns were growing again over liquidity woes of Soth Korea's largest shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME), as the Angolan oil major Sonangol EP is likely to delay the takeover of its drill ships once again.
Actor Mark Wahlberg said "the biggest responsibility" for himself and the makers of the new movie, "Deepwater Horizon," was to honor the real-life victims of the 2010 oil rig disaster. "The oil can ultimately be cleaned up, (but) those 11 men can't be replaced