Kristin plattform - Photo Marit Hommedal - Statoil.jpg
Photo: Marit Hommedal - Statoil

Norway's Standard Drilling buys more supply ships


Norwegian company Standard Drilling continues its acquisition spree buying used supply vessels at low prices, with its latest investment in a newly established company which has purchased two used PSV vessels for USD 11.7 million.

Published 03.01.17 at 08:28

Log in to read articles

Some of our content is exclusively for subscribers.

Try ShippingWatch free for 14 days

Get 14 days free trial access

Sign up for ShippingWatch newsletter
Most read Offshore

Boskalis books massive impairment on offshore vessels

Smit_Hudson_Harbor_tug_Boskalis.jpg Offshore:

Marine and towage behemoth Royal Boskalis Westminster will include a EUR 840 million impairment in its results for 2016.

Maersk reportedly close to Iraqi oil field deal


Bloomberg reports that Maersk Oil is close to signing a development contract with Iraqi oil company NIOC.

John Fredriksen is racing against time to save his empire


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.

Maersk Supply Service dismisses oil spill related to sinking


Maersk Supply Service has presented its report to the French authorities about the two supply vessels which sank off the coast of France on Dec. 22 2016. No oil spills were observed in relation to the wreck, states the report.

Viking Supply Ships lost USD 45 million in 2016


Viking Supply Ships booked significantly lower revenue in 2016 and a deficit of SEK 406 million (USD 45 million), according to the carrier's annual report. The rates for anchor handling vessels plunged last year.

Lundin Petroleum announces 2017 budget and updated reserves


Lundin Petroleum is starting the year in a strong financial position, says the CFO after the company released its development and exploration budget for the year and upgraded reserves. Most of the budget's focus will be on offshore Norway.

Current front page

China fines 14 carriers for illegal price practice

cmacgm.jpg Container:

Several container carriers have received penalties in China for failing to provide correct information about their freight rates to the Chinese ministry of transports. The carriers fined include CMA CGM and Hamburg Süd. But the size of the fine is fairly modest.

Eimskip's acquisition of Nor Lines blocked


Norway's competition authority objects to Icelandic carrier Eimskip's acquisition of shipping and logistics company Nor Lines. Eimskip now has 15 days to present its counterarguments.

Damco CEO: Time to invest again


"Damco needs to shift gears if the company is to achieve profitable growth," CEO Klaus Rud Sejling tells ShippingWatch after a multiple-year turnaround at Damco.

Klaveness on bulk in 2017: Slightly better but not good


The dry bulk market has left rock bottom behind in 2016, yet 2017 will not be much better, CEO of Torvald Klaveness, Lasse Kristoffersen, tells ShippingWatch.

Shipowners and ports in direct disagreement on EU's CO2 plan


The maritime sphere in Europe is far from in agreement when it comes to limiting CO2 emissions from shipping. While the shipowners are highly critical of the European Parliament's plan to include CO2 in a cap trading system, the ports praise the proposal. "Most unfortunate," say the shipowners.

Drewry: Things looking better on routes from Asia to South America


The final months of 2016 brought improvements on the routes from Asia to the east coast of South America. But there is still a long way to go in terms of the activity noted on the routes in the past, writes analyst firm Drewry, warning against excessive optimism.