Norway’s World Wide Supply Unable to Make Debt Interest Payment

OSLO, Nov 26 (Reuters) - Norwegian offshore supply vessel owner World Wide Supply will not be able to make a scheduled interest payment on its debt on Nov. 27, the shipping firm said on Thursday. Companies serving the oil industry are suffering from weak demand as oil companies cut back on investments and exploration to preserve cash following the fall in oil … [Read more...]

Petrobras Cancels Charter Contracts with Three Offshore Vessel Owners

  Offshore vessel owners World Wide Supply, Ultrapetrol and Siem Offshore all reported Monday receiving notification for the early termination of charter contracts with Brazilian oil giant Petrobras. Perhaps the hardest hit was Norwegian platform supply vessel owner World Wide Supply (WWS), who reported Monday receiving notice of early termination … [Read more...]

World Wide Supply to Lay Up Two PSVs

  Norwegian platform supply vessel owner World Wide Supply says that the weak spot market in the UK sector of the North Sea has forced it to lay-up two vessels. World Wide Supply (WWS) owns a fleet of six Damen PSV 3300 CD vessels all delivered in 2013. Four of the vessels are on four-year contracts with Petrobras in Brazil ending in June 2018, while the remaining … [Read more...]