Friday, February 23, 2018
offshore supply vessel
News

Haunted by Oil Slump, Singapore’s Otto Marine Buckles Under Debt

By Andrea Tan and David Yong (Bloomberg) — A Singapore shipping company rescued by its chairman just over a year ago faces collapse unless the courts step in, a sign...

February 23, 2018
Total Views: 2

Wednesday, May 31, 2017
njord a offshore platform
Maritime News

Worst Offshore Slump Holds Key Lessons for Top Norway Banker

By Mikael Holter (Bloomberg) — Norway’s biggest bank is done comparing: The downturn in the country’s offshore services market has no precedent. “No one has seen a worse offshore market...

May 31, 2017
Total Views: 4

Tuesday, May 31, 2016
News

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...

May 31, 2016
Total Views: 6

Monday, May 9, 2016
maersk oil sale
Maritime News

Maersk Oil to Cut 40 Staff Amid Slumping Oil Price

COPENHAGEN, May 9 (Reuters) – Denmark’s Maersk Oil will cut 40 jobs in Copenhagen, Aberdeen and Stavanger due to the low oil price, it said on Monday. Maersk Oil, a...

May 9, 2016
Total Views: 1

Thursday, April 28, 2016
Samsung Heavy Industries Shipbuilding (Geoje, South Korea)
Offshore News

Samsung Heavy Industries Loses $4.6 Billion Shell Order

By Kyunghee Park (Bloomberg) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder, said an order to build three floating liquefied natural gas production facilities was canceled after the energy...

April 28, 2016
Total Views: 11

Wednesday, April 27, 2016
Maritime News

Norwegian Rainmaker Predicts Oil Crash is Near Bottom

By Jonas Cho Walsgard (Bloomberg) — Shipping is about to lead a recovery in global offshore markets that have been battered by plunging oil prices, according to one of Norway’s...

April 27, 2016
Total Views: 5

Thursday, April 14, 2016
News

Houston-Based Oil Explorer Energy XXI Files for Bankruptcy After $5 Billion Expansion

By Tiffany Kary and Joe Carroll (Bloomberg) — Energy XXI Ltd. filed for bankruptcy protection after spending $5 billion on acquisitions in the years leading up to the crude slump....

April 14, 2016
Total Views: 4

Tuesday, April 12, 2016
News

Marine Industry Looks to Cruise Ships, Wind Farms to Weather Oil Slump

By Aradhana Aravindan and Keith Wallis SINGAPORE, April 12 (Reuters) – Marine and offshore engineering companies are turning to cruise ships, fishing vessels or even sea-based wind farms to keep...

April 12, 2016
Total Views: 0

maersk triple-e
Maritime News

Cheap Oil Blunting Drive for Fuel Efficiency -Kemp

By John Kemp LONDON, April 12 (Reuters) – Fuel consumption is not very sensitive to a small change in prices in the short run, but if the price change is...

April 12, 2016
Total Views: 1

Tuesday, February 16, 2016
Byford Dolphin gcaptain.com
Maritime News

Fred. Olsen Energy Says Drilling Rates to Stay at Loss-Making Levels

OSLO, Feb 16 (Reuters) – Global offshore drilling rig rates will remain at loss-making levels as the market continues to suffer from overcapacity, Norway’s Fred. Olsen Energy predicted on Tuesday...

February 16, 2016
Total Views: 0

Monday, February 15, 2016
Maritime News

Singaporean Rig Builder Sembcorp Marine Posts First Loss Since 2003

By Kyunghee Park and Jonathan Burgos (Bloomberg) — Sembcorp Marine Ltd., the world’s second- largest builder of oil rigs, posted its first quarterly loss in at least 12 years after...

February 15, 2016
Total Views: 4

Wednesday, February 10, 2016
Maritime News

Maersk’s $2.5 Billion Loss in Q4 2015 Worse Than Expected

By Ole Mikkelsen COPENHAGEN, Feb 10 (Reuters) – Denmark’s A.P. Moller-Maersk tumbled to a loss of $2.5 billion in the last three months of 2015 after the shipping and energy...

February 10, 2016
Total Views: 2

Friday, February 5, 2016
News

Just 0.1% of Global Oil Output Has Been Halted Due to Low Prices

By Javier Blas (Bloomberg) — After a year of low oil prices, only 0.1 percent of global production has been curtailed because it’s unprofitable, according to a report from consultants...

February 5, 2016
Total Views: 1

Wednesday, January 20, 2016
News

Shell Profit Plunges at Least 42% as Oil’s Slump Deepens

By Rakteem Katakey (Bloomberg) — Royal Dutch Shell Plc, which is buying BG Group Plc in the industry’s largest deal in a decade, expects fourth-quarter profit to drop at least...

January 20, 2016
Total Views: 0

Tuesday, January 19, 2016
Maritime News

Havila Shipping’s Debt Plan Fails to Gain Support

By Luca Casiraghi (Bloomberg) — Havila Shipping ASA said it has so far failed to get enough support from bondholders to postpone repayments on 5.7 billion kroner ($647 million) of...

January 19, 2016
Total Views: 1

Maritime News

China Offshore Driller CNOOC to Cut Output for First Time Since 1999

Aibing Guo and Rakteem Katakey (Bloomberg) — China’s largest offshore oil company will cut output for the first time in more than a decade, prompting speculation the nation’s producers are...

January 19, 2016
Total Views: 1

Tuesday, January 12, 2016
Maritime News

BP Plans to Cut 4,000 More Oil Jobs

By Rakteem Katakey (Bloomberg) — BP Plc plans to cut 4,000 jobs in its crude- oil production division this year as prices trade near a 12-year low. The company will...

January 12, 2016
Total Views: 0

Monday, January 11, 2016
maersk drilling rig
Maritime News

Maersk Faces ‘Toxic Cocktail’ in 2016, Analyst Nordea Says

By Christian Wienberg (Bloomberg) — A.P. Moeller-Maersk A/S is a conglomerate with about 900 different divisions, but investors only really need to worry about one number in 2016: the price...

January 11, 2016
Total Views: 2

Friday, November 6, 2015
News

Maersk Oil Profit Sank 86% Last Quarter as Prices Plunge

  Christian Wienberg (Bloomberg) — A.P. Moeller-Maersk A/S, Denmark’s biggest company, said profit at its oil unit dropped 86 percent in the third-quarter as energy prices fell. Maersk Oil’s net...

November 6, 2015
Total Views: 3