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Offshore crisis hits Singapore companies yet again

Singapore skyline.jpg Offshore:

Ezion, another one of Singapore's offshore companies, has filed for insolvency, and trading of the company's shares has been suspended. Shipping service company Marco Polo's shares have been suspended since May, and the company's latest interim report does not bode well for the future.

Havila Shipping books large deficit for Q2

doc_62_17.jpg Offshore:

Havila Shipping suffered a triple-digit million loss NOK in the second quarter, a period which also brought a reduced operating profit. The offshore carrier settled a new debt agreement earlier this year which also strengthened its equity.

Last week's top stories on ShippingWatch

BP_Andrew-Platform.jpg Carriers:

Equity funds make their foray into the North Sea, Maersk's lobbyists are at work in the US, several dry bulk carriers make gains, and a new investment fund from Maersk and a series of pension funds were among this week's top stories on ShippingWatch.

Last week's top stories on ShippingWatch

Svovl.jpg Carriers:

This summer week brought several key stories. ShippingWatch reported on the Danish Attorney General's indictment against Lars Møller of OW Bunker. The first half year results of bulk and container bode well for the two sectors. And the new Dan-Bunkering CEO unveiled his ambitious growth target.

Røkke companies' value down NOK 2.8 billion

kejllingerøkke.jpg Offshore:

Aker Group, which covers six companies operating in oil and shipping and is owned by Kjell Inge Røkke, saw its value drop NOK 2.8 billion in the second quarter. Sliding share prices in Aker BP, Aker Solutions, and Kvaerner, in particular, dragged the group down. But the CEO is optimistic.

Statoil bets big on Brazilian oil

lula.jpg Offshore:

Statoil has great ambitions for Brazil where the company has now bought a bigger stake in field Caraca. In the long term, Statoil wants to achieve a daily output of around 700,000 barrels per day in Brazil, reports Dagens Næringsliv.

Statoil is hiring again

Veslefrikk.jpg Suppliers:

After thousands of layoffs over recent years, the Norwegian oil major again plans to hire new staff for the Norwegian shelf. There are still new projects on the way in this area, says Statoil.

This week's top stories on ShippingWatch

torbenøstergaardnielsen.jpg Carriers:

Major internal battles in the UN IMO regarding shipping's role in terms of the climate and environment, accounts from the world's second-largest bunker group, and the Maersk Group's problems after a hacker attack and chemical discharge in the North Sea made headlines this past week.

Offshore
Maersk Drilling seen as next acquisition target

Transocean's acquisition of Songa Offshore is symptomatic of the acquisition wave in the sector, where many analysts view Maersk Drilling as the next major target. Transocean was allegedly also looking into Maersk Drilling, a company which even major players describe as a big mouthful.

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