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Photo: Lee Jin-man/AP/POLFOTO/arkiv

Hyundai Heavy loses huge North Sea order

Offshore:

After several years of deliberation, US oil major Chevron has decided to cancel an order worth almost USD 2 billion with Hyundai Heavy Industries.


BY OLE ANDERSEN
Published 15.12.16 at 13:58

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Most read Offshore

Transocean books million-dollar impairment on six rigs

Transocean Barents.jpg Offshore:

Transocean will now retire several rigs which had already been cold stacked, says the world's largest rig company in a press release.

Rescue plan reduces family's ownership in Kleven

Offshore:

After settling a restructuring of major shipbuilding group Kleven, the owner family controls less than 20 percent of the group, reports nett.no.

Seadrill bondholders said to fight debt plan

Offshore:

Some Seadrill bondholders have allegedly hired firm Stroock & Stroock & Lavan LLP as legal counsel to fight the restructuring plan announced last week.

Court names Monjasa in protracted bunker fraud case

Offshore:

A Danish court has lifted its court-ordered anonymity in a protracted fraud case against Danish bunker company Monjasa, which was found guilty of perpetrating gross fraud against a Malaysian customer. Partner Jan Jacobsen was also found guilty and given a prison sentence of 3.5 years.

John Fredriksen tops list of Norway's wealthiest people

Offshore:

John Fredriksen, who actually holds a Cypriot passport, has been listed as Norway's richest person by business magazine Kapital for the 15th consecutive year. Another shipping profile is ranked a bit further down the list.

John Fredriksen is racing against time to save his empire

Offshore:

A multiple year boom could be coming to an end for the colorful Norwegian shipping magnate John Fredriksen's crown jewel, Seadrill, as the company has turned out to be USD 14 billion in debt and at which a race against time and unsatisfied bond holders has begun.

Current front page

Bugbee: Maersk family will drive tanker consolidation

IMG_3322.JPG Tanker:

Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.

Transocean books million-dollar impairment on six rigs

Offshore:

Transocean will now retire several rigs which had already been cold stacked, says the world's largest rig company in a press release.

Maersk Line harbors great ambitions for Hamburg Süd

Container:

Maersk Line has for the first time quantified its growth ambitions for Hamburg Süd, a takeover transaction the carrier is expected to complete before long. "It's a long-term ambition, but there's no doubt that our expectations are high," COO Søren Toft tells ShippingWatch.

Lukoil looking to get rid of trading unit amid legal battle

Services:

Oil company Lukoil is prepared to sell its trading unit Litasco, CEO tells local media. Litasco was this week hit by compensation claims for USD 2 billion filed by a Turkish company.

Norway's central bank projects surge in oil investments

Services:

In a new report, the Norwegian central bank bolsters its faith in coming investments by the oil sector. More newbuild projects in particular spur the bank to raise its forecast.

This week's top stories: Maersk Tankers, ballast water, Royal Arctic Line

Carriers:

The Maersk Group's sale of its tanker unit to the Maersk family made headlines on ShippingWatch this week. Top stories also included a bankruptcy in the ballast water market and revolt among Seadrill's bondholders.

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