WATCH: Heidelberg Spar Upended in Gulf of Mexico

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Anadarko's Heidelberg Spar has made the 400 mile trip from Ingleside, Texas to its new home at the Green Canyon 859 block in the deepwater Gulf of Mexico, where it has now been upended. The Heidelberg is an exact replica of Anadarko's Lucius facility, which began production in January 2015 in the Gulf of Mexico's Keathley Canyon area. The two facilities are Anadarko's … [Read more...]

Adrift Cargo Ship Now Under Tow Off Scotland

Photo: Shetland Coastguard Helicopter

A 99-meter cargo ship is under tow the North Sea off the Scotland's Orkney Islands after the ship lost power in heavy weather. The UK Maritime and Coastguard Agency says that the Barbados-flagged Skog reported Tuesday morning that it was adrift and taking on water with a cargo of paper. The Coastguard dispatched a rescue helicopter to the scene and requested the assistance … [Read more...]

Tycoon Fredriksen’s Firms See Diverging Fortunes

West Gemini drillship. Photo credit: Seadrill

By Gwladys Fouche OSLO, Nov 24 (Reuters) - Firms in Norwegian-born billionaire John Fredriksen's empire saw contrasting fortunes on Tuesday, as rig firm Seadrill booked $1.8 billion in writedowns while tanker firm Frontline turned around its fortunes after years of turmoil. The shipping tycoon, nicknamed "Big Wolf" or "Big John" in the shipping industry, controls … [Read more...]

Rotterdam Dockworkers Plan Strikes

Photo: VanderWolf Images /

AMSTERDAM, Nov 24 (Reuters) - Container workers at the Port of Rotterdam have voted to hold a series of 24-hour strikes in December and January in protest at possible job cuts, threatening to freeze the movement of goods through Europe's largest port. Niek Stam, leader of the FNV Havens union, said in a statement members of the union had voted in favour of the strikes to … [Read more...]

Seadrill Turns to Loss on $1.8 Billion Writedown

Seadrill Semi-Rig West Pegasus

By Mikael Holter (Bloomberg) -- Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, reported its first quarterly loss since 2011 as a collapse in oil prices reduced demand for its rigs. The net loss of $1.83 billion came after the Hamilton, Bermuda-based company booked $1.8 billion in non-cash impairment charges to investments and goodwill, it … [Read more...]

Dry Bulk Shipping Company Golden Ocean Misses Forecasts

Photo: Golden Ocean Group

OSLO, Nov 24 (Reuters) - Dry bulk shipping firm Golden Ocean reported a larger-than-expected third-quarter loss on Tuesday and said the market would remain difficult for the next six to twelve months. Golden Ocean, controlled by shipping tycoon John "Big Wolf" Fredriksen, said it made a net loss of $40.7 million in the third quarter, lagging expectations for a loss of $19 … [Read more...]