Sector
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KKR strikes deal to take on Greek loans
Private equity has made a very big splash in Greece just ahead of Posidonia. KKR & Co from the US…
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Seadrill does debt-for-equity deal
John Fredricksen’s Seadrill has privately negotiated an exchange agreement with certain holders of its outstanding 5-5/8% senior notes due 2017.…
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China Steel Express continues capesize clear out
Taiwan’s China Steel Express Corporation has offloaded a vintage capesize, the 1997-built 154,000-dwt , sending it to scrap at $290…
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Super-Eco Tankers in for product pair
Greece’s Super-Eco Tankers has placed an order for two firm 40,000 dwt IMO-II product tankers at South Korea’s Hyundai Mipo…
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Former El Faro captain had concerns about vessel’s stability and reliability of its boiler
A former captain of El Faro on Tuesday said he had had concerns about the cargo vessel’s boiler, its stability…
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Ensco rigs and job losses stack up
UK-headquartered offshore driller Ensco is cutting another 350 jobs, the result of a move to stack three drillships and a…
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Samsung Heavy submits self-rescue plan to Korea Development Bank
Samsung Heavy Industries has handed its self-rescue plan to Korea Development Bank (KDB), its main creditor, in an effort to help…
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Sinopacific Shipbuilding’s parent company in debt default
Shanghai Clearing House has announced that Evergreen Holding Group, the parent group of Sinopacific Shipbuilding, hasn’t been able to make…
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Shipbuilding as a demographic weather vane
“I look forward to the day we are not the world’s top shipbuilding nation.” On the face of it a…
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Sembcorp Marine’s Estaleiro Jurong Aracruz targets repair work
Looking for new lines of business as Brazil’s offshore sector continues to struggle, Sembcorp Marine’s Brazilian shipyard Estaleiro Jurong Aracruz…
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Petrobras granted 27-year extensions on two offshore leases
The leases held by state oil giant Petrobras for two offshore oilfields have been extended 27 years by Brazil’s oil…
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Malaysia’s UMW Oil & Gas cuts 300 jobs
Malaysian offshore drilling and oilfield services contractor UMW Oil & Gas has cut about 300 jobs in order to deal…
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Shell pipeline spill skimming off Louisiana completed
The skimming part of the Shell oil-spill cleanup off the Louisiana coast has ended according to the Dutch-British supermajor and…
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Independent audit estimates 517m barrels of oil reserves off Falkland Islands
Rockhopper Exploration on Tuesday announced it has confirmed potential oil reserves of around 517m barrels off the Falkland Islands according…
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Another strike begins at APM Terminals Gothenburg
Mediation between the Swedish Dockworkers’ Union (Hamnarbetarförbundets) at the Port of Gothenburg and APM Terminals has broken down, which will…
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Zodiac capesize fixed on timecharter as markets look up again
A brand-new capesize bulk carrier owned by Zodiac Maritime has been reported fixed on a short-term period charter today, while…
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Pemex terminates charter of Deep Drilling rig
Mexico’s state-owned oil and gas company Pemex is to terminate its charter of a jack-up drilling rig owned by Aban…
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CSSC Shipping continues VLCC buying spree
CS Shipping, a shipowning arm of Chinese shipbuilding giant China State Shipbuilding Corporation, has emerged as the buyer of an elderly…
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Hyundai Merchant Marine may offer debt-for-equity swap in charter rate negotiations
Hyundai Merchant Marine (HMM) must renegotiate a 28.4% cut in charter rates before May 20 or will likely enter court…
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‘Too many cooks’: Drewry’s verdict on THE Alliance
Shipping consultant Drewry has echoed comments made by other analysts on the potentially unwieldy nature of containershipping’s new grouping, THE…
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