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Offshore

Scorpio says new offshore investment is first of several

Scorpio Group, mostly known for its two shipping companies, has with its acquisition of Nordic American Offshore taken a definitive step into the North Sea. And there could be more in store. "Things are developing very quickly," President Emanuele Lauro tells ShippingWatch.

Analyst firm projects miserable rig market

Big rig companies such as Seadrill and Transocean have expressed optimism about the future of the rig market, but players should not start celebrating too early, evaluates analysis firm IHS Markit, according to Norwegian media Dagens Næringsliv.

Norwegian offshore faces another dire year

The coming months will bring a new struggle for the Norwegian offshore shipping companies, says Harald Solberg, CEO of the Norwegian Shipowners' Association, in an interview with ShippingWatch. "There is significant imbalance in the supply chain," he says.

John Fredriksen buys majority stake in Solstad company

Solstad-owned shipping company Dess Aquaculture gets NOK 700 million in a share capital increase that is to finance a newbuild program. The emission means that two companies controlled by John Fredriksen will constitute the major part of the shipping company.

Batteries make debut in drilling rig market

West Mira will become the world's first offshore drilling rig to utilize onboard batteries, reducing CO2 emissions and cutting fuel consumption, says Siemens, the purveyor of the technology.

BW Offshore targets new major contract in 2019

BW Offshore is betting hard to bag a new major contract for one of the shipping company's FPSO vessels next year. The overall trend is positive, but there are still significant fluctuations in offshore, CFO Knut R. Sæthre tells ShippingWatch.

Offshore carriers facing tough winter

A tough few months lie ahead for offshore vessels on top of the fact that many do not have contracts, says brokerage firm Lorentzen & Stemoco, according to Norwegian media Sysla.

Ørsted kicks off massive investment plan for offshore

Energy major Ørsted, formerly Dong, has presented a plan detailing its ambitions for the year to come. Combined gross investments ahead of 2025 total DKK 200 billion, of which the vast majority will be spent on offshore.

Offshore carriers ditch merger plans

There will be no merger between offshore carriers Nordic American Offshore and Horizon, which have been exploring merger possibilities since October.

Seadrill reports new loss after restructuring

Seadrill booked a large deficit in its first interim report after completing a restructuring. On the other hand, the rig company is pleased with improved market prospects and good news for 2019 and 2020.

Boskalis lands historically large offshore contract

The Dutch tugboat and marine group bagged a triple-digit million contract in euros for offshore cable installation. This marks the company's largest ever contract and will be carried out in a consortium which includes cable manufacturer NKT.

Subsea 7 blacklisted from African oil country

OPEC member Equatorial Guinea has requested that oil companies terminate contracts with Subsea 7 in the country due to the offshore company's failure to deliver legally required job creation and local company partnerships.

Norwegian oil companies increase investments big-time

Billion dollar investments in the Norwegian oil industry are climbing, shows a new survey for 2019, which projects growth of almost 12 percent. And yet the market remains very volatile, says the Director of Norsk olje&gas to ShippingWatch.

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