October 8th, 20190John Fredriksen’s Northern Drilling has cancelled the resale contract with South Korea’s DSME for ultra-deepwater drillship West Cobalt. The rig investment company said the cancellation was "due to various reasons including repudiatory breach of contract by DSME". Northern Drilling subsidiary West Cobalt Inc. has made advance...
September 19th, 20190John Fredriksen’s Frontline says that it has elected not to exercise an option with Trafigura subsidiary Trafigura Maritime Logistics (TML) to acquired pair of Chinese-built suezmax tankers. The options are part of a deal reached between the two companies last month which saw Frontline agreed to acquire 10 new Korean-built suezmax...
September 16th, 20190John Fredriksen’s Ship Finance International Limited has changed its name to SFL Corporation Ltd at the company’s annual general meeting. The company will continue to trade on the NYSE under the SFL ticker. SFL has a fleet of more than 90 vessels made up of tankers, bulkers, containerships and offshore assets.
September 13th, 20190John Fredriksen’s Frontline and Trafigura subsidiary Trafigura Maritime Logistics (TML) have agreed to extend an option for Frontline to acquire two Chinese-built suezmax tankers, from September 12 to September 18. The options are part of a deal reached between the two companies last month which will see Frontline acquire up to 14...
August 27th, 20190Frontline has revealed its burnt LR2 tanker, , will resume operations in the final quarter of the year after extensive repairs at a yard in Dubai. The tanker was one of two struck by limpet mines while transiting the Strait of Hormuz on June 13. It suffered severe damage to its starboard hull. The other ship attacked that day, the...
August 23rd, 20190John Fredriksen’s Frontline has closed a deal with Trafigura subsidiary Trafigura Maritime Logistics (TML) to acquire 10 new Korean-built suezmax tankers. The news follows last week's tie up by Fredriksen companies – Golden Ocean and Frontline – to form a bunkering joint venture with Trafigura. The 10 vessels, all built in...
August 13th, 20190John Fredriksen is taking IMO 2020 fuel considerations into his own hands. The Norwegian tycoon’s dry bulk and tanker companies - Golden Ocean and Frontline - are forming a bunkering joint venture with commodities giant, Trafigura. Golden Ocean and Frontline will hold 10% and 15% interests in the JV, respectively and Trafigura will...
August 5th, 20190Seadrill’s Seadrill Partners has received an early termination notice for a contract for semi-submersible self-erecting tender assisted drilling rig . The semi-tender rig was contracted for work offshore Cote d’Ivoire commencing in the third quarter of this year. West Vencedor has just come off contract in Myanmar and will now...
July 22nd, 20190Seadrill Partners has secured a contract for the 2008-built drillship in southern Asia. The contract is for one year and valued at around $72m. It will commence around the first quarter of 2020, after the vessel completes a contract in Gabon as announced a few days ago. In additional to the two West Polaris contracts, parent...
July 19th, 20191John Fredriksen's Seadrill has been awarded a new contract for 2010-built drillship . The contract, with an unnamed client, is for the drilling of nine wells off West Africa with three two-well options. Commencing in the fourth quarter of 2019, and running for a period of a year, the total contract value excluding options is...
