Solstad sells laid-up vessel while holding off debt payments

Solstad Offshore has sold a laid-up platform supply vessel (PSV) and has agreed with bondholders to further postpone its debt payments. The Oslo-listed company has sold the 3,100-dwt Far Swift (built 2003) for an undisclosed amount to an unnamed buyer. VesselsValue.com Source: http://www.tradewindsnews.com

November 1, 2019
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Solstad anchor-handlers win long-term contracts in Australia

Two anchor-handlers owned by Solstad Offshore have won contracts at the Ichthys LNG development in Australia. Inpex Operations Australia has fixed the 24,000-bhp vessels Normand Scorpion (built 2009) and Normand Sirius (built 2014) on three-year contracts at an undisclosed rate. The two anchor Source: http://www.tradewindsnews.com

October 30, 2019
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Equinor hires Dof anchor handler for an extra six months

One of Dof’s anchor handlers has won a contract extension from Equinor Energy, while the shipowner works on securing long-term financing. The Norwegian state energy producer will keep the 35,024-bhp Skandi Vega (built 2008) on hire for another six months, Source: http://www.tradewindsnews.com

October 18, 2019
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BW Offshore to redeploy FPSO after deal terminated

BW Offshore (BWO) is moving an FPSO out of New Zealand after Tamarind Resources ended its charter. Preparations will now be made to demobilise the Umuroa from the Tui field. The contract ends on 31 December. The extension to the end of this year was signed in July 2018. Source: http://www.tradewindsnews.com

October 15, 2019
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Nigerian piracy ‘good’ for Penguin’s business, says analyst

Nigeria’s piracy riddled waterways are providing good news for at least one company, say analysts at Singapore’s UOB Kay Hian. The finance house has just initiated coverage of small boat builder Penguin International with a ‘buy’ recommendation. “Nigeria, Penguin’s main market with around 40% revenue contribution, has been plagued by piracy off its coastal waters,” said analyst Llelleythan Tan. “It has been consistently in the top two with regards to…

October 15, 2019
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Horizon and Kotug launch Canadian joint venture

Horizon Maritime and Kotug International are joining forces to provide tug and terminal services in Canada. The two companies announced the joint venture, called Kotug Canada, Wednesday. “We are very pleased to partner with the world leaders in sustainable marine towing operations, combining our local experience and expertise to offer Canadian customers a top-notch level of towage services,” said Horizon chief operating officer Steve Widmeyer. The companies said the joint…

October 9, 2019
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Fredriksen’s Northern Drilling cancels DSME drillship

John Fredriksen’s Northern Drilling has torn up a deal for a drillship resale in South Korea. The company said the decision to cancel the ultra deepwater West Cobalt was due to “various reasons including repudiatory breach of contract by DSME.” Northern has Source: http://www.tradewindsnews.com

October 8, 2019
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Bugbee buys Hermitage shares

Hermitage Offshore president Robert Bugbee has upped his stake in the company. The New York-traded PVS owner announced after the close Wednesday that on 1 October the shipping veteran bought 70,000 shares at $1.03. Hermitage shares closed at $1.05 Tuesday and opened at $1.10 Thursday. Bugbee Source: http://www.tradewindsnews.com

October 3, 2019
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Siem’s Subsea 7 agrees 4Subsea takeover deal

Norwegian oil and gas contractor Subsea 7 is to boost its artificial intelligence (AI) vessel operations through a domestic takeover. The Kristian Siem-backed group, which owns subsea ships and cable-layers, has agreed to buy 100% of offshore technology company 4Subsea. No price has been revealed for the deal. 4Subsea’s Peter Jenkins will continue in his role as CEO. The company will support Subsea 7 in monitoring of key operational data…

October 3, 2019
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Ostensjo and Foss team up for US offshore push

Norway’s Ostensjo Rederi is targeting the US wind market with a new offshore joint venture. It is teaming up with domestic operator Foss Maritime to provide service operation vessels (SOVs). The companies said they would offer state-of-the-art vessel designs and proven solutions. Ostensjo CEO Kenneth Walland said the shipowner has several years’ experience of operating SOVs servicing offshore wind farms across Europe. “In Foss Maritime we believe we have found…

October 2, 2019
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