SpaceX, founded by billionaire Elon Musk, just bought two rigs from Valaris. The plan is to use the rigs as floating offshore launch pads for the company's rockets.
Scorpio Bulkers has been selling off ships in the past four months as part of its exit from the dry bulk sector. A total of 26 ships have gotten new owners, most recently two ultramax vessels.
One of the top pioneers in the oil firm's New Energy Solutions division switches to Norway's most recent green convert.
Hard-pressed offshore company Borr Drilling secures creditor approval for its crisis plan. Banking major DNB recently announced that it was prepared to take over or sell the company, founded by Tor Olav Trøim, if a solution was not found.
Oil major Equinor is considering whether the company should going forward continue as a member of oil association API, which Total recently opted to leave. Maersk Drilling also considers its membership as part of an ongoing assessment, the drilling company tells ShippingWatch.
Norway's government awarded 61 licenses to 30 oil companies on Tuesday. A long list of licenses were awarded to companies including Lundin and Wintershall.
Shipping companies and suppliers flock to the trending offshore wind market, which looks ahead to significant growth in coming years. This also applies to Arne Blystad's OHT, which, however, sees one impediment that risks delaying the boom, chief executive tells ShippingWatch.
One of the world's biggest offshore ship operators, Bourbon Offshore, settled a comprehensive restructuring one month ago. But the group now acknowledges that the offshore market dwindled significantly last year. ShippingWatch sat down with CEO Gaël Bodénès.
The French oil company can no longer see itself as part of the powerful US oil and gas industry association API as their targets do not align.
A contract with Total to provide deep-water drilling rigs has now been realized for Maersk Drilling. The contracts are worth around USD 100 million.
Major Norwegian bank DNB is actively working with Borr Drilling to find a rescue plan to avoid splitting up or divesting the company, the bank tells E24. The update comes a day after Dagens Næringsliv reported on a leaked backup plan from the bank.
John Fredriksen's struggling rig operator Seadrill cancels an interest rate payment on a loan through company Seadrill New Finance. The company is working on a comprehensive restructuring plan, which could go through court.
Arne Blystad's offshore company OHT, which like Scorpio and Cadeler is betting big on offshore wind, opens an office in Denmark. The company has hired several experienced people with histories at Maersk Supply Service, Vattenfall, Ørsted and Deme to head the Danish expansion. (Updated)
If strained Borr Drilling is not able to settle a rescue plan, major bank DNB considers taking over or selling the company, shows a leaked document, according to Dagens Næringsliv. Founder Tor Olav Trøim is confident that a rescue plan will be settled.
As part of enormous cost cuts, the British-Dutch supermajor plans to lay off 330 employees in the UK.
In a new analysis, bank SEB expects more investment decisions on the Norwegian shelf in 2022. Tax cuts for the country's offshore sector particularly factor in.
In a tough 2020 for the drilling industry, more drilling rigs were sent for recycling compared to previous years, analyst tells Finansavisen.
With an influx of USD 100 million in capital and well-known names such as Connie Hedegaard on the board, Cadeler is prepared for growing within offshore wind. ShippingWatch has interviewed CEO Mikkel Gleerup about plans and challenges in a booming market.
Swedish wind service operator expands its partnership with Ørsted to sail crews to offshore wind farms off the west coast of Britain on seven CTV ships.
Saudi Arabia, the world's biggest oil producer, has agreed to reduce its output for the next two months.
The Monaco-based company headed by Robert Bugbee plans to ditch the name Scorpio Bulkers as part of its strategy to exit the dry bulk market and instead go all in on the market for green energy and offshore wind.
While Saudi Arabia wants to take the heavy burden to limit production, other countries prefer to maintain output levels.
The Dutch offshore company expects to have earned back the purchase price in three years thanks to synergistic effects.
Rig company Pacific Drilling now says that it has exited its Chapter 11 process on the heels of a successful restructuring, lender approval of its plan and a final approval from a US bankruptcy court.
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Maersk's break from major German customer DB Schenker and the cyber attack on CMA CGM attracted the most readers on ShippingWatch in 2020. In an unusual year characterized by the coronavirus pandemic, other big stories were the red-hot container market, Søren Toft's start at MSC and a large-scale reorganization at Maersk.
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