Island Offshore secures Siemens OSV charter

Norway’s Island Offshore has clinched a new charter for wind farm “walk to work” services. The 4,600-dwt support ship Island Crown (built 2013) has been booked by Siemens Gamesa Renewable Energy on behalf of ScottishPower Renewables for its East Anglia One Offshore Windfarm. It will provide Source: http://www.tradewindsnews.com

June 27, 2019
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Two more OSVs reactivated in North Sea

Improved North Sea rates have spurred owners to move two more OSVs out of layup. Broker Westshore said Bourbon’s 4,800-dwt platform supply vessel (PSV) Bourbon Mistral (built 2006) is back in the game after being stacked for 926 days in Bergen. There are Source: http://www.tradewindsnews.com

June 26, 2019
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Billionaire Gray shows additional appetite for Troim firms with Borr Drilling buy

South African Billionaire Allan Gray has deepened his investment in companies controlled by Tor Olav Troim by boosting his stake in Borr Drilling. Gray’s Orbis Investment Management snapped up stock worth close to $2m in the Oslo-listed driller today. The shares are worth $1.98m at Borr’s present trading price and the additional paper increases the investor’s stake in Borr to 5.02%, including convertibles. According to Borr’s last annual report, its…

June 25, 2019
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Saudi Arabian fleet grows 28%

Saudi Arabia has increased its flagged fleet to 363 vessels. This is up from 284 in 2017, a rise of 28%. The fleet grew to 7.67m tonnes, according to the annual report published by the Public Transport Authority. The list includes 60 tankers, two LPG Source: http://www.tradewindsnews.com

June 24, 2019
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Teekay Offshore Partners hunts for new Petrojarl Varg charter

Teekay Offshore Partners is looking for a new charter for one of its FPSOs after potential employment for the vessel fell through. Teekay Offshore fixes FPSO to Alpha’s Cheviot field Read more It has terminated an agreement with Alpha Petroleum Resources Ltd to use its Petrojarl Varg FPSO on the Cheviot oil field on the UK continental shelf. In October 2018, it entered into the agreement with Alpha Petroleum that…

June 24, 2019
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Turkish drillship’s Cypriot mission angers EU

The launch of a second Turkish drillship destined for Cypriot waters has angered the European Union. The vessel will drill for gas off Cyprus’ east coast, despite the EU preparing for a possible sanctions over the issue, AP reported. Cyprus stepping up efforts to overturn Turkish ban The 230-metre Yavuz can reach depths of 12km. Another Turkish drillship is already working 40 miles off the island’s west coast. Cyprus has…

June 21, 2019
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Sverre Farstad back with new OSV venture

The Farstad family is back in the OSV business two years after Farstad Shipping was taken over by Solstad Offshore following the offshore slump. Sverre Andreas Farstad has formed Sverre Farstad & Co to buy the 4,100-dwt platform supply vessel (PSV) Blue King (built 2016) from Ulstein Group. Clarksons lists the vessel as laid up. “We are very pleased that this agreement has been settled and are looking forward to…

June 21, 2019
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Hermitage tipped for profit jump as it raises $5m

US OSV player Hermitage Offshore Services has added another $5m in funds as its profit was tipped to jump. The former Nordic American Offshore, which was taken over by the Scorpio group, sold an additional 1.42m common shares under its previously announced equity line for $3.5 each, it said. Nordic American Offshore asks for new name A total of 710,736 shares were issued to each of Scorpio Offshore Investments and…

June 21, 2019
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Solstad Offshore buys more time for debt talks

Restructuring OSV giant Solstad Offshore has gained more time to seal a refinancing deal with creditors. The company, backed by John Fredriksen and Kjell Inge Rokke, has extended a debt payment suspension and deferral agreement to 31 October, from 20 June previously. Solstad Offshore offloads elderly supply ship The company said talks on restructuring are progressing, but more time is required to find a sustainable solution to its financial situation…

June 21, 2019
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