Industry Sectors:Offshore

Offshore

Singapore’s Marco Polo Marine has posted a loss for the financial year ended 30 September 2016 as revenue was slashed due to poor earnings in a sluggish offshore marine market.
Qatar Port Management Company (Mwani Qatar) and shipping and logistics giant Qatar Navigation (Milaha) are to form a new entity to manage the kingdom’s new $7.5bn mega port.
Malaysian oil and gas services provider Barakah Offshore Petroleum returned to a profit in the third quarter, turning in a small gain of MYR1.97m ($441,459) from a loss of MYR15.44m…
Havila Shipping’s financial restructuring proposals have received support from bondholders at the eleventh hour.
UAE rig builder Lamprell has inked a $225m deal with ScottishPower Renewables to fabricate jackets and piles for the new East Anglia ONE Offshore Wind Farm in the North Sea.
Abu Dhabi Ship Building (ADSB) has docked its first chemical tanker as its commercial fleet diversification strategy gathers momentum. 
The OSV sector is facing a “survival of the fittest” with offshore activity set to decline for another two years according to Pareto Securities.
OSV owner Havila Shipping announced that it has failed to win support from its bondholders for a proposed restructuring, but the company has until next Monday to garner the required…
Malaysian offshore fabrication group TH Heavy Engineering (THHE) saw third quarter losses widen to MYR131.6m ($29.4m) from a MYR5.2m loss in the previous corresponding quarter.
OSV provider Farstad Shipping will enter into a restructuring for Siem Oilservice Invest Holding to take control of the company, in view of a need to strengthen its balance sheet…