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Photo: Songa Offshore

Rough offshore market rubs off on rig company results

Offshore:

Both Songa Offshore and North Atlantic Drilling exited the second quarter with setbacks in revenue. While Songa Offshore booked a bottom line in the black, things developed more negatively for Seadrill's subsidiary North Atlantic Drilling which landed a big loss.


BY SØREN PICO
Published 25.08.17 at 12:25

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Most read Offshore

Wilh Wilhelmsen banks more on oil and gas

Danbor2.JPG Offshore:

Wilh. Wilhelmsen will pay NOK 545 million to boost its ownership stake in offshore company Norsea Group to 72 percent. "We wish to have an exposure towards the energy market, primarily oil and gas," explains the company.

Seadrill share jump due to speculation or short covering

Offshore:

John Fredriksen's Seadrill has seen its share price soar since the rescue plan was announced last week. Could be due to short-term speculation, says Danske Bank.

Surging demand for staff in Norwegian offshore

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Norwegian recruiting agencies are now reporting a surge in demand from oil and gas companies as the oil price stabilizes. But demand is still much lower than before the crisis.

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.

SAL Heavy Lift shuts down its offshore unit

Offshore:

Germany's SAL Heavy Lift, which was acquired by Bremen-based Harren & Partner this summer, is shutting down its offshore business unit.

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Offshore:

A comprehensive report from SEB concludes that the oil industry is on the way up after a long period of slashing costs on a mass scale.

Current front page

Maersk sells tanker carrier to family in a buyer's market

Maersk Tankers slæbebåd towage Tanker:

Maersk Tankers has been sold to the Maersk family's holding company at a time when investors are staying far away from product tanker. But the carrier could be sold on when the market recovers, analysts say.

Dockworkers block automation of vehicles in West Coast ports

Container:

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Carriers:

Shipyards have virtually no newbuild resale vessels left from canceled contracts to sell, says Celsius Shipping CEO Jeppe Jensen.

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Container:

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Wilh Wilhelmsen banks more on oil and gas

Offshore:

Wilh. Wilhelmsen will pay NOK 545 million to boost its ownership stake in offshore company Norsea Group to 72 percent. "We wish to have an exposure towards the energy market, primarily oil and gas," explains the company.

OECD raises forecast for global growth

Carriers:

Expectations for growth in the global economy are boosted again in the latest OECD forecast. The upgraded forecast is attributed to factors including growth in Europe. Read the full forecast here.

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