June 1st, 20180John Fredriksen’s Ship Finance International is acquiring four 14,000 teu container vessels attached to long-term time-charters with an Asian container line.
The 2014-built vessels are due to be delivered imminently and the time charters attached to the vessels run until 2024, and include options to extend by 18 months.
The...
May 15th, 20180John Fredriksen’s Seatankers has ordered two newcastlemax bulkers at New Times Shipbuilding in China with Allied Shipbroking noting the 208,000 dwt ships are costing $44.5m each. The ships will come with scrubbers installed and will deliver in 2020, the year the IMO’s sulphur cap comes into force.
Allied suggested in its latest...
April 26th, 20180John Fredriksen forked out NOK64.1m ($8.05m) yesterday to acquire 3 million Advance Gas shares via Hemen Holding, lifting his stake to 19.14% in the gas ship owner.
Fredriksen now holds 11,910,251 shares via Hemen and an additional 442,384 shares via Frontline. Avance Gas shares have been trading between NOK20 and NOK24 for most of...
April 9th, 20180John Fredriksen’s Seadrill has won approval from creditors and shareholders to push ahead with its Chapter 11 restructuring.
“The voting results demonstrate the broad-based support by creditors and shareholders of the Company's reorganization transaction, which provides more than $1.08 billion of new capital, defers all secured...
March 27th, 20180Four ships that Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have nearly finished building for Seadrill could be bought by Hemen Investments, John Fredriksen’s family investment vehicle. Negotiations are underway to find a solution for the ships that are due to deliver this year.
Both Korean yards have...
March 20th, 20180Seadrill Partners has been awarded a one well contract with Repsol for 2008-built drillship West Capella in Aruba.
The contract is expected to commence after the drillship completes is current contract with Repsol in Gabon, around June 2018.
The contract is worth around $6.4m.
February 27th, 20180After more than 12 months of negotiations – the most complex in John Fredriksen’s life – the Norwegian tycoon has managed to reach a settlement with bondholders and creditors in Seadrill’s chapter 11 cases.
Some 70% of the company's bondholders by principal amount have now signed an agreement to support the company's...
December 1st, 20170Norwegian newspaper Finansavisen is reporting John Fredriksen’s Seatankers Management is engaged in a legal battle over the scale of a bonus payment for an ex-employee.
Espen Westeren’s demands for a NOK20m bonus has been denied and the issue is now going to court in Oslo with Seatankers claiming Westeren did a poor job in his...
October 25th, 20170John Fredriksen’s Northern Drilling has got the nod from local financial authorities to proceed with a listing on the Oslo Axess, Norway’s secondary stock market. Trading under the symbol NODL is expected to start tomorrow. Northern Drilling had earlier this year tapped Oslo’s OTC market.
In the 130-page listing prospectus...
October 4th, 20170John Fredriksen faces a significant creditor backlash over his restructuring plans for Seadrill.
Last month Seadrill filed for chapter 11 bankruptcy protection in the US as it pushed through plans for $12.7bn of debt restructuring. The plan has the backing of 97% of its loan lenders, but just 40% of its bondholders.
Disgruntled...
