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 $800 million.
Transocean also announced this week their drillship GSF Explorer is set to be scrapped.
By David Shepardson WASHINGTON, March 3 (Reuters) – The U.S. Justice Department declined to investigate or prosecute then-Transportation Secretary Elaine Chao after the inspector general’s office referred allegations of potential...
By Vera Eckert (Reuters) – Container shipping firm Hapag-Lloyd said surging demand for bulky goods like exercise equipment from locked-down consumers may flatten out in the second or early third quarter,...
By Jacob Gronholt-Pedersen (Reuters) – Shipping group Maersk ($AMKBY) said on Wednesday it would accelerate plans to decarbonize sea-borne container shipping by putting the world’s first vessel powered by carbon-neutral...
February 17, 2021
Total Views: 1958
Sign Up Now for gCaptain Daily
Just enter your email and get hot news every morning
We use cookies on our website to give you the most relevant experience. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.