First it was Hafnia. Then a few months ago it was BW Epic Kosan. And now wind carrier Cadeler also adds Andreas Sohmen-Pao as chairman of the board. The appointment is a seal of approval, says Cadeler CEO Mikkel Gleerup.
Maersk Drilling's share price has, so far, nearly doubled in 2021 after it almost bottomed out in 2020, a year that pressured the already strained drilling industry. Low debt positions the company better than its competitors, said chairman Claus Hemmingsen during the company's general assembly Thursday.
2020 presented yet another challenge for Maersk Training, which already struggled with deficits like several others in the offshore sector. Travel bans and shutdowns caused by the Covid-19 pandemic knocked the company back to an "unsatisfactory" level.
Lightship Chartering steps into a brand new segment from its office in Dubai, the shipbroker's CEO Sune Fladberg tells ShippingWatch. And the company is also looking to return to tanker after several of the company's tanker brokers departed last year.
Andreas Sohmen-Pao is set to become the new chairman of offshore wind carrier Cadeler. BW Group is in preliminary discussions about acquiring a larger stake in the company, which expects to see results improve this year on the heels of an eventful 2020.
Ørsted has announced plans to develop a huge hydrogen production plant in the Netherlands by 2030. The plant will supply the area with the alternative fuel, which is predicted to play an important role in the green transformation of the shipping sector.
The British group will now focus its oil business on the UK and Denmark. PGNIG takes over all the company's Norwegian assets for a price of USD 615 million. Wood Mackenzie describes the deal as a "good exit" for Ineos.
In retrospect, Maersk Supply Service and its CEO would have done many things differently before the spectacular shipwreck in 2016. The carrier has now been fined by Danish police, and the CEO takes full responsibility for similar events not happening again, he tells ShippingWatch.
The hard-pressed drilling sector is now seeing the first signs of a consolidation that has been long called for among drilling companies, several of which have had to seek bankruptcy protection under Chapter 11. Drilling companies Noble and Pacific Drilling have now agreed to merge.
After a multiple-year investigation, Danish police has now reached a decision in the case pertaining to two supply vessels that sank off the coast of France in December 2016. Maersk Supply Service is fined USD 24,000.
Strained shipping company Floatel, leaser of accommodation rigs to the offshore industry, lands a restructuring agreement, which helps reduce debt by USD 610 million. Last year, a merger with competitor Prosafe was called off.
Oil company Equinor is working to reduce its maritime carbon footprint. The company has made agreements to charter a total of 40 tankers, which the company sees as more energy efficient. The company will also investigate alternative fuels, according to the company's sustainability report.
Increased activity for drilling rigs deployed in the Norwegian part of the North Sea has led to rising demand and higher rates on the so-called anchor handling tug supply vessels, reports Finansavisen.
Investment company Marine Capital drops LNG and plans to phase out all conventional vessels to instead go for offshore wind. Green aspects are crucial in capturing the attention of investors, explains CEO Tony Foster in an interview with ShippingWatch.
Following a new joint venture with US-based logistics and shipping company Crowley, Esvagt is ready to enter the competition for contracts in the US offshore wind industry. The Danish shipping company is already working on an offer for oil giant Equinor, reveals CEO Peter Lytzen.