Ocean Yield books another major impairment on FPSO

Shipowner Ocean Yield, controlled by Norwegian investor Kjell Inge Røkke, books a significant million-dollar impairment. The majority is subscribed to a floating production vessel, which also saw its value impaired last year.

CEO on past drilling mergers: "A pure catastrophe"

Odfjell Drilling is prepared to participate in a large-scale consolidation wave of the hard-strained drilling sector. But there is one major bump in the road. "The consolidation we've seen so far has been a pure catastrophe for shareholders," CEO tells ShippingWatch.

Saudi Arabia cuts oil price

This is the biggest price reduction in five months and is caused by, according to Reuters, the fact that demand has yet to return following the outbreak of Covid-19.

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