Partly Cloudy
Dubai
| India | : | |
| Singapore | : | |
| London | : |
News
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
UAE’s Stanford Marine creditors in talks about sale of business
Dubai/Abu Dhabi: Creditors of Stanford Marine Group (SMG), which has links to troubled private equity firm Abraaj, are in talks with three potential buyers, sources familiar with the matter say.
Banks are overseeing control of Dubai-based SMG after it failed to meet the terms of its debt obligations due to financial read more
August,8th 2018
Oilfield support services firm GOL Offshore shut down
MUMBAI, AUGUST 7
GOL Offshore Ltd, the offshore oilfield services company that was at the centre of a takeover battle in 2009 between now bankrupt ABG Shipyard Ltd and Bharati Defence and Infrastructure Ltd, has shut down after lenders failed to find an investor for the debt-laden company.
read more
August,8th 2018
Tidewater and GulfMark in $1.25bn merger to create largest OSV operator
In another consolidation in the offshore sector US offshore support vessel (OSV) players Tidewater and GulfMark are to merge in a $1.25bn all-stock transaction.
The merger will create what the companies say will be the largest global OSV operator with a fleet of 245 platform supply vessels (PSVs) and anchor read more
July,17th 2018
Govt set to pull the plug on ‘right of first refusal’ for Indian ships
Local shipping companies says move will hurt their revenue, wipe out some from business
MUMBAI, JUNE 28
The Centre is set to scrap a decades-old right of first refusal (RoFR) benefit granted to local fleet owners to carry export-import oil and bulk cargo for state-run firms.
Currently, local shipping companie read more
July,1st 2018
Aramco awards EPC ...
Aramco has awarded an engineering, procurement, construction and install... read more