Mothballed Ships in Southeast Asia Show Pain Inflicted by Oil Slump

By Aradhana Aravindan and Keith Wallis SINGAPORE, May 31 (Reuters) - Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of companies that help preserve equipment and provide security for vessels parked around southeast Asia are busier than they have been for years. A popular lay-up anchorage near Indonesia's Batam island, a short … [Read more...]

Norway’s Stacked Offshore Fleet Swells to 100 Vessels

By Mikael Holter (Bloomberg) -- The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are far from over, the industry’s top lobbyist said. “The worst is still to come,” Sturla Henriksen, chief executive officer of the Norwegian Shipowners’ Association, said in an interview in Oslo on Friday. “2016 and 2017 will … [Read more...]