McDermott restructures debt and files Chapter 11 bankruptcy McDermott has finalised a pre-packaged restructuring of its estimated $9.86bn in debt, and will file for Chapter 11 bankruptcy protection. The restructuring will be financed by a debtor-in-possession (DIP) financing facility of $2.81bn. McDermott will also sell Lummus Technology for $2.73bn. It said the restructuring read more February,4th 2020
Topaz and P&O merger forms new brand Topaz Energy and Marine has been merged into P&O Maritime to form new brand P&O Maritime Logistics (POML) following its acquisition by Dubai terminal operator DP World in July. “Through the synergies created by the merger of the two companies, under the DP World umbrella, the POML business is well read more December,17th 2019
SEACOR Marine : Innovation and aggressive cost-cutting measures are helping transform the Louisiana-based OSV owner When it announced its Q3 2019 earnings, US-based SEACOR Marine did something it had not done in five years; it generated its highest ‘direct vessel profit’ and utilisation from continuing operations since Q4 2014. “This improved margin reflects the strategic positioning and high grading of our fleet read more December,13th 2019
Nam Cheong secures three vessel contracts Malaysian OSV operator Nam Cheong has entered into three chartering contracts worth a total of RM54.8m ($17.9m). The contracts, awarded by foreign oil majors, are for one AHTS and two PSVs and also include options to extend. The new contracts have increased the company’s total orderbook to RM290m. The vesse read more December,12th 2019
Gulf Marine Services posts $4.4m loss in H1-18 Gulf Marine Services posts $4.4m loss in H1-18 Abu Dhabi-based company optimistic of profits in the second half Published: 19:19 September 4, 2018 Fareed Rahman, Senior Reporter     Abu Dhabi: Gulf Marine read more September,5th 2018
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McDermott restruc ...

McDermott has finalised a pre-packaged restructuring of its estimated $9.86bn... read more