March 20th, 20190UK-based satellite communications group Inmarsat has received a $3.3bn cash takeover offer from a consortium led by Apax Partners and Warburg Pincus International. According to the company, the consortium made the offer on January 31 and the proposal remains under discussion and the consortium also includes two Canadian pension funds,...
March 19th, 20190Global Ship Lease has agreed a new three-year charter with Hapag-Lloyd for 2015-built, 9,115 teu boxship . The previous charter with Hapag-Lloyd, at $40,000 per day, is set to expire in June and the new charter is in direct continuation through to the second quarter of 2022. Ian Webber, CEO of Global Ship Lease, commented: “We...
March 18th, 20190Navig8 Chemical Tankers has entered into sale and leaseback agreements with China's ICBC Financial Leasing for four of the company’s 37,000 dwt product tankers. The net proceeds from the transaction are $94.71m and the company has used part of the proceeds to repay existing loans used to finance the vessels’ newbuilding...
March 15th, 20190A Russian bulker arrested off the southwest of the UK before Christmas is set to be auctioned off next week. The ran aground off Falmouth in December in stormy conditions. Local authorities then identified a series of dangerous defects on the Murmansk Shipping Company controlled vessel. The ship has since been impounded along with its...
March 15th, 20190Shuttle tanker specialist KNOT Offshore Partners has announced that is has appointed a new CEO to replace John Costain, who decided to step down as CEO and CFO in November 2018. Commencing June 1, Gary Chapman will become the CEO and CFO of the partnership. Chapman currently serves as the CFO of Biggin Hill Airport, which owns a...
March 14th, 20190Aberdeen-based well management specialist Exceed Energy has been awarded a contract by Sweden's Svenska Petroleum Exploration that comprises full well project management services to deliver a deep water exploration well offshore Guinea Bissau. The project scope will include all front end engineering planning, service procurement...
March 11th, 20196Shipping’s Twittersphere erupted over the weekend with the launch of a new account, @ActionBaltic, which has made a number of claims that London’s Baltic Exchange is rigged and needs urgent change. The accusations have been dismissed as "fake news" by the Baltic. The people behind the Baltic attacks have refused to reveal their...
March 6th, 20190Sources are dripping new information into last week’s sale of Kawasaki Kisen Kaisha’s (K Line) oldest VLCC, the 2007-built , sold for just under $39m. The deal is this year’s most expensive secondhand VLCC sale so far. Now shipbrokers are pointing at Eyal Ofer’s Zodiac Maritime as the taker of the ship. Zodiac’s exposure to...
February 27th, 20190Subsea 7 has been awarded a five-year contract by BP Exploration for the provision of subsea construction, inspection, repair and maintenance services covering BP’s North Sea region portfolio of assets West of Shetland and Northern North Sea. Subsidiary i-Tech Services will provide a life of field support vessel for the contract to...
February 27th, 20190Golar LNG, via newly created subsidiary Gimi MS, has entered into a 20-year lease and operate agreement with BP for the charter of an FLNG unit Gimi. The FLNG vessel will be used at the Greater Tortue Ahmeyim project, with production expected to commence in 2022. Greater Tortue Ahmeyim project is located on the Mauritania and Senegal...
