January 29th, 20200Houston-headquartered Halliburton Company has been awarded seven contracts for drilling and completion services for the next phase of field development at the INPEX-operated Ichthys Project, located in the Browse Basin offshore northern Australia. The campaign is due to start in March 2020 and have an estimated duration of three...
January 28th, 20200A subsidiary of Connecticut-based Eagle Bulk has been fined $1.1m for violating the regulations of a now-defunct sanctions program on Myanmar, the US Treasury Department said Monday. The offence took place over three years through to 2014 when Eagle Bulk worked with Burmese shipper, Myawaddy Trading. “This case demonstrates the...
January 24th, 20200Australia’s Worley has been awarded the front end engineering design contract for Total’s North Platte field development in the Gulf of Mexico The North Platte field development, located off Louisiana, includes a semi-submersible floating production unit and the project will see Worley design the hull, mooring and subsea...
January 23rd, 20200Southport-headquartered chemical tanker owner Chembulk Tankers has appointed Bart Kellehern as its new CEO, replacing David Ellis who has resigned for personal reasons. Kelleher joined Chembulk in 2016, and has been CFO of the company since early 2019. His previous roles include stints with Principal Maritime Management, Bear Stearns...
January 22nd, 20200Houston-based offshore engineering giant McDermott International has filed for Chapter 11 bankruptcy protection as part of a restructuring transaction that has the support of more than two-thirds of its funded debt creditors. The restructuring transaction, which will eliminate over $4.6bn of debt, will be implemented through a...
January 17th, 20200Offshore driller Pacific Drilling has announced that an arbitration tribunal in London has ordered the company to pay $320m to Samsung Heavy Industries for a drillship order cancellation. Pacific Drilling ordered the Pacific Zonda drillship at Samsung in 2013, with the original scheduled delivery in 2015. The company cancelled the...
January 16th, 20200The US and China have signed the first phase of a broader trade pact on Wednesday, however analysts aren’t confident it will bring immediate joy for the shipping sector. Under the 86-page agreement, China agreed to increase purchases of American products and services by at least $200bn over the next two years, with increased imports...
January 9th, 20201Broker reports are filled up with VLCC sales in the first days of the year as buyers continue to find even vintage VLCCs en vogue given the six-digit territory seen in the spot market over the past month. This week Ridgebury Tankers is reported selling the 19-year-old, Samsung-built 306,000 dwt for $25m to undisclosed buyers, a very...
January 9th, 20200Liberian Registry, the world’s second largest flag, has unveiled a new Expedited Registration Process (ERP), that streamlines the registration of vessels. The new process cuts in half the time taken to register a ship, which the registry says makes its competitors obsolete. Alfonso Castillero, COO of the Liberian Registry, says:...
January 8th, 20201International energy giant Shell has selected three owners for the long-term charter of a total of eight dual-fuel 174,000 cu m LNG carriers. According to the latest Allied Shipbroking report, Knutsen OAS Shipping has ordered four LNG carriers at Hyundai Heavy Industries while JP Morgan Global Maritime and Korea Line have each ordered...
