New kid on the block in the rig space Borr Drilling is buying Transocean’s entire fleet of 15 jack-up rigs including, five newbuildings under construction at Keppel FELs, for $1.35bn.
Embattled Ezra Holdings woes continue to mount with another claim related to EMAS Chiyoda Subsea (ECS) for $4.45m and liability for two bareboat charters by EMAS Offshore Ltd (EOL) that…
The floating production sector has “turned the corner” according to analyst Energy Maritime Associates.
Offshore vessel owner Bourbon reported a hefty loss of EUR279.6m ($299.1m) for 2016 in what it characterised as the “most acute crisis” for marine services in 40 years.
A proposed Chapter 11-like bankruptcy code for Singapore would bode well for the debt restructuring market, especially at a time when offshore companies are struggling to stay afloat under mounting…