Maersk Training books massive loss in the year of Covid-19

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 enters offshore with new business leg

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.

Sohmen-Pao set to become new chairman of wind carrier Cadeler

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 to build one of the world's largest hydrogen plants

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.

Ineos divests Norwegian oil business

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.

Drilling industry sees first signs of desired consolidation

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.

Floatel lands debt restructuring and secures new credits

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.

Equinor has chartered 40 ships in efforts to lower carbon footprint

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.

Marine Capital drops LNG and bets on offshore wind

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.

Solstad Offshore sells two ships

Offshore carrier Solstad Offshore parts ways with two ships, delivered to their new owner on Wednesday. The company is currently undergoing a restructuring that entails the divestment of 37 ships.

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