Screen shot via YouTube
Farstad Shipping’s CEO Karl-Johan Bakken says today, “very demanding” conditions in the offshore market has forced his company to lay up two of their platform supply vessels and regretfully give notice to competent employees while new work is sought for the PSVs Far Server and Far Spica.
Bakken certainly isn’t the only one making tough decisions these days as Hornbeck recently announced 18 of their new generation offshore supply vessels are currently stacked.
On the drilling front, Seadrill’s 2008-built semisubmersible drilling rig West Sirius recently lost it’s contract with BP and company spokesperson Iain Cracknell tells gCaptain that she will be stacked for the forseable future until a new contract can be signed. Rumors that she was set to be scrapped have been confirmed to be false.
Considering the West Sirius‘ contract was at a day rate of $535,000 per day and ended in July 2019, the value of this loss is likely in excess of $800 million.
Transocean also announced this week their drillship GSF Explorer is set to be scrapped.
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French military personnel have boarded the oil tanker Boracay, which is suspected of belonging to the so-called shadow fleet involved in the Russian oil trade, French media reported on Wednesday.
Group of Seven nations are closing in on an agreement to significantly increase sanctions on Russia over its reluctance to end the war against Ukraine, according to a draft statement seen by Bloomberg.
The Houthi-aligned Humanitarian Operations Coordination Center (HOCC) has designated 13 entities, 9 individuals, and 2 vessels for sanctions related to US crude oil exports, according to a statement released today.
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