Seadrill could get fresh capital from new investor

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The Fredriksen-controlled rig unit exits the first quarter with a slide in revenue and an operating result virtually slashed in half compared to the same period last year. A new investor could be about to enter the company.

CEO bids farewell to Siem Offshore

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The chief executive of Norwegian offshore carrier Siem Offshore has stepped down from the position for personal reasons. His replacement was recruited internally, the company writes in a brief to the Oslo Stock Exchange.

Prosafe suffers setback in Q1

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Revenue tumbles while operations dip into the red for Prosafe. However, there are signs of improvement for accommodation rigs, also called flotels, which could begin as early as next year, projects the company.

New CEO will turn around Israel's Zim

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ZIM will get a new CEO this summer. He will transform and adapt the company to the new reality of the container market, where the carrier sits outside the three major alliances. According to Wall Street Journal, several shareholders are certain of a sale.

Havila Shipping sees weak market until 2019

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The Norwegian offshore carrier saw its deficit grow and operating income dwindle in the first quarter of the year. Havila Shipping completed a large-scale restructuring earlier this year which is expected to give the carrier leeway in a weak market in 2017 and 2018.

Last week's top stories on ShippingWatch


Several EU member states, including Denmark, are currently having their state subsidies to carriers and maritime businesses scrutinized, while John Fredriksen's efforts to take over DHT continue. And ShippingWatch was present at the major shipping conference in Singapore this week.

Statoil back drilling in the Arctic

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Despite protests, Statoil is once again drilling in the Arctic in the Barents Sea,, report several media. "Now we will test what could end up creating the next chapter in Norway's oil narrative," says Jez Averty, Head of Statoil's activities on the Norwegian and UK shelves.

This week's top stories on ShippingWatch

lauritzen1.jpg Carriers:

J. Lauritzen's bondholder dispute was resolved, the carrier relying on money from its owner. More details emerged about the EU approval of Maersk's takeover of Hamburg Süd. And Rickmers Maritime had to throw in the towel. Keep up with this week's top stories on ShippingWatch.

Siem owner offers to buy bonds

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Kristian Siem's company Siem Industries, which owns the offshore carrier Siem Offshore, is offering bondholders in the company to buy bonds worth upwards of NOK 200 million in exchange for approval of the plans presented last week.

This week's top stories on ShippingWatch

maersksearcher.jpg Carriers:

Significant resignations at J. Lauritzen, large deficits from Hapag-Lloyd and the rest of the container sector, the Maersk Group General Assembly, and massive volumes of oil left on two sunken Maersk vessels featured among this week's top stories.

Siem Offshore to extend large loan

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Siem Offshore will extend the repayment period on two Norwegian bond loans. The offshore carrier, controlled by Kristian Siem, will also issue shares for a total NOK 190 million. The issue is fully secured by majority shareholder Siem Europe.