Industry Sectors:Offshore

Offshore

In a curiously timed decision Mitsui OSK Lines (MOL) is entering the offshore support vessels market through a joint venture in Norway.
China’s Sinopacific Offshore & Engineering (SOE) has held its first creditors’ meeting after the company embarked on a debt restructuring phase about two weeks ago, reports said.
Malaysian oil and gas player Bumi Armada continues to struggle, turning in a MYR96.7m ($21.8m) third quarter loss from a MYR70m profit in the previous corresponding period as revenue fell…
Swiber Holdings, currently under judicial management, has agreed to sell an elderly cold-stacked vessel for $10.25m which will be used to pay down debts owed to DBS Bank.
Singapore’s Pacific Radiance, through its joint venture firm CA Offshore Investment Inc, has issued notices of arbitration to two Chinese shipyards to claim for $5.55m over their failure to deliver…
Heavily indebted Swissco Holdings has filed applications in the Singapore High Court on Monday to be placed under judicial management, a move that the company last week said it will…
Shandong Twin Marine (SDTM), subsidiary of Shandong Ocean Equipment, has ordered three decommissioning semi-submersible vessels from CIMC Raffles.
Malaysia’s Sealink International has remained in the red for the third quarter ended 30 September 2016 on the back of protracted weakness in the offshore industry.
Swissco Holdings’ partner in rig ownership, Ezion Investments, has filed statutory demands against its subsidiary Scott and English Energy (S&E) with the possibility of winding up S&E, and Swissco is…
Swiber Holdings, currently under judicial management, has come under the spotlight of Singapore’s crime investigation agency, Commercial Affairs Department (CAD), on possible corporate infractions.