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Jack Gerard American Petroleum Institute.jpg
Jack Gerard, Chairman of the American Petroleum Institute.
Photo: David Zalubowski/AP Photo/Polfoto

US oil industry sees hope for the future

Offshore:

The leader of the industry's largest interest group in the US describes Trump's upcoming presidency as an opportunity that only comes once in a generation. The goal is more drilling permits at sea.


BY HANS LØGSTRUP POULSEN
Published 05.01.17 at 09:37

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Most read Offshore

John Fredriksen is racing against time to save his empire

Fredriksen.jpg 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.

Maersk Oil: North Sea deal supports our growth

Offshore:

The construction of the Tyra field could become a catalyst for further North Sea development, says Maersk Oil's COO.

Hedge fund run by former 'Big Wolf' trader delivers 46 pct return

Offshore:

Titan Opportunities Fund, headed by two former executives from John Fredriksen's offshore empire, has delivered a 46 percent on investments in its first nine months.

Daewoo Shipbuilding to receive second lifeline from creditors

Offshore:

Korea Development Bank and Export-Import Bank of Korea will provide USD 2.6 billion in additional loans to Daewoo Shipbuilding and Marine Engineering, and swap about KRW 1.6 trillion of debt to equity.

Ambitious new rig player Borr Drilling hiring executives

Offshore:

Newly established Borr Drilling, which a few days ago announced a purchase of 15 Transocean rigs, is looking to hire 21 people for executive positions, reports Dagens Næringsliv.

New Danish North Sea deal settled

Offshore:

The companies operating in the North Sea, including Maersk Oil, and a majority in the Danish parliament have agreed on a new deal for oil extraction in the North Sea. Maersk Oil is pleased with the agreement, which according to the company enables a full redevelopment of the Tyra gas field, which was otherwise facing closure.

Current front page

Hapag-Lloyd: 2016 was "not satisfactory"

rolfhabbenjansen.jpg Container:

"The bottom line is still that this result is not satisfactory," says Rolf Habben Jansen, CEO of Hapag-Lloyd, which has just published its report for last year. 2017 also saw a tough start for the carrier.

Ultrabulk delivers yet another profit for 2016

Bulk:

Chilean-owned but Denmark-based Ultrabulk can, unlike many of its competitors, present yet another profit in its books for 2016. Speaking to ShippingWatch, CEO Per Lange describes 2017 as a year which showed several positive trends for dry bulk.

Wilbur Ross' ownership of Diamond S under scrutiny

Tanker:

Several critical observers question US Secretary of Commerce Wilbur Ross' continued ownership of product tanker carrier Diamond S Shipping. The carrier's ties to China in particular are being criticized by ethics experts who point to possible conflicts of interest.

Arkon Shipping bags capital from new major shareholder

Bulk:

Logistics group Rhenus has bought 40 percent of German shortsea and MPP carrier Arkon Shipping, and the two are establishing a joint investment unit.

Svitzer's growth in Asia lower than expected

Carriers:

Things have not moved quite as fast in Asia as expected since Svitzer opened office in Singapore in early 2016. The strategy in the region will change when the new overall strategy for Svitzer is settled in the second quarter this year, Managing Director Alan Bradley tells ShippingWatch.

Norwegian offshore carriers finalize merger deal

Offshore:

The merger between Solstad, Farstad, and Deep Sea Supply has now been signed by the three carriers' boards of directors. The new offshore behemoth is thus a step closer to becoming a reality.

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