Login
ROLLS III.JPG
Photo: Rolls Royce PR

Rolls-Royce injects billions in fresh capital into Norwegian marine business

Suppliers:

The engine behemoth has booked huge losses on its Norwegian subsidiaries, Rolls-Royce Marine in particular. The UK parent company has subsequently injected more than NOK 2 billion in fresh equity into its marine business in Norway, which is severely strained by the downturn in offshore, reports Finansavisen.


BY DANIEL LOGAN BERG-MUNCH
Published 18.08.17 at 12:57

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 Suppliers

Oceansaver after bankruptcy: "IMO decision was very disappointing"

ketil.jpg Suppliers:

Oceansaver's market disappeared after the IMO postponed the implementation deadline this summer for the ballast water requirements, CEO and Chairman Kjetil Bruun-Olsen tells ShippingWatch. The postponement hurts first movers, says association Danish Maritime.

The five sulfur questions that shipowners need answered by 2020

Suppliers:

It is clear why sulfur requirements must be implemented in 2020, but that is where the clarity ends. ShippingWatch outlines the five main lingering questions about the future sulfur requirements.

Major ballast water supplier bankrupt after delayed regulations

Suppliers:

Oceansaver, the Norwegian ballast water management systems supplier, has been declared bankrupt. The company is just one of four companies to have secured a key type approval for its systems. The development is blamed on the slow IMO process.

Media: Deloitte to receive penalty for role in South Korean yard scandal

Suppliers:

South Korea's Financial Services Commission will bar accounting firm Deloitte for a year following the scandal related to accounting fraud at Daewoo Shipbuilding & Marine Engineering.

Shipping investors will fill the gap left by the banks

Suppliers:

A series of renowned shipping names, including Blystad Group, are behind the new company Maritime Asset Partners, which will offer alternative financing to shipping companies. USD 150 million are ready to be invested. "We can raise more money according to our needs," head of the company Nick Roos tells ShippingWatch.

Rolls-Royce looking to launch unmanned vessels in 2020

Suppliers:

Unmanned vessels from Rolls-Royce will be ready for deployment by as early as 2020, report British media. Smaller tugboats and ferries will likely be the first to start operating without crews on board.

Current front page

MSC confirms order for 11 ultra-large vessels

oscar_algeciras_01.jpg Container:

MSC has ordered 11 ultra-large container vessels to be built at South Korea's DSME shipyard, a spokesman confirms to ShippingWatch.

OW Bunker estate has lost bunker price case

Services:

The OW Bunker estate has lost a bunker price contract case at the district court in Aalborg, Denmark, against three international shipping companies.

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.

Maersk bags potentially huge contract with the US Navy

Carriers:

Maersk Line has won a contract with the US Navy that could potentially total more than USD 190 million. With the contract, Maersk will operate seven vessels to transport military vehicles.

Major Nordic banks scrutinize hazardous scrapping practices

Services:

Nordic bank Nordea is currently reviewing guidelines for shipping customers regarding hazardous vessel scrapping. Danske Bank is also evaluating the issue of carriers' scrapping in Asia, the banks tell ShippingWatch.

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.

ADVERTISEMENT

Vacancies

ADVERTISEMENT