Finance

Transocean Ltd. will have to do more than slash its dividend by 80 percent for the owner of the world’s largest fleet of offshore rigs to weather the oil

Saudi Arabian Oil Co., the world’s largest oil exporter, is expanding into refining and petrochemicals and seeking to boost ties with

BW LPG Ltd announced today that its seven-ship new construction program of very large gas carriers (VLGCs) has gained USD $400 million in debt financing. The

Norway's GC Rieber Shipping ASA said on Wednesday that two companies owned by private equity fund HitecVision V, LP, had defaulted on debt

HSH Nordbank AG, the world’s largest financier of ships, is stepping up efforts to unload billions in bad debt racked up during a seven-year glut in the

Thai dry bulk carrier Thoresen Thai Agencies Pcl said on Tuesday it planned to raise about 7.3 billion baht ($223.2 million) by offering new shares via a

Belgian crude oil shipping group Euronav said on Tuesday that it was going ahead with its plan to list shares on the New York Stock Exchange in a public

Cal Dive International says that it did not pay a $2.2 million interest payment due yesterday as the company continues to work with their lenders to address

Top policy makers in western Europe’s biggest oil producer underscored their commitment to providing stimulus should the economy need

Asian stocks slipped on Tuesday as a continuing slide in crude oil prices dampened risk appetite, while the dollar nursed losses against the safe-haven

U.S. marine shipping stocks are poised to see their shares climb 59 percent in the next 12 months, outshining the 35 percent gain on the first day of Alibaba

OAO Sovcomflot (SCF Group) announced today the signing of a new USD $319 million, 10 year credit facility which the company says will be used to finance two

Billionaire John Fredriksen bought shares in Seadrill Ltd. for $33.5 million, boosting his stake in the offshore driller to 23.9 percent as the stock fell

Technip SA, Europe’s largest oil-and- gas services company, will probably raise its 1.47 billon-euro ($1.8 billion) offer for rival, CGG SA, according to UBS

Singapore-based shipowner Parakou Tankers announced today it has agreed to merge with NASDAQ-listed Cambridge Capital Acquisition Corporation and pursue an

Major ship brokerage firm Maersk Broker is looking into possible mergers and joint ventures after a spate of deals in the broking industry which is gearing up

"Having a dividend cut is a concrete sign that things are as bad as people fear ... it's another confirmation to how hard it is out there to be an offshore

Frontline, once the world's biggest crude oil tanker company, reported a bigger than expected third-quarter loss on Tuesday and said it is still considering

Gunvor Group Ltd. is looking to Asia for the next leg of its expansion as the company loosens the Russian ties that made it the world’s fifth-biggest oil

The unrecoverable credit granted Tankoil was never submitted to the board, let alone authorised by it, said Chairman Niels Henrik