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News
ONGC terminates 27 ship contracts
India’s Oil and Natural Gas Corporation (ONGC) has issued notices to terminate contracts for 27 Indian-registered offshore vessels with local owners in order to cut cost amid the doldrums in the offshore sector.
The 27 ships were hired by ONGC more than one year ago for three-year periods, with day rates rangin read more
May,12th 2016
GOL OFFSHORE & DVB BANK
According to sources, DVB Bank has secured an order from the Bombay High Court for the disposal of six GOL Offshore's vessels to recover its outstanding dues of around USD 38 million. Consultants have been appointed to fix the current valuations of the Malaviya Nine 15,000 bhp AHTS, Malaviya Twenty Three 8,000 read more
March,11th 2016
Fitch downgrades Seacor Holdings
Fitch Ratings has downgraded Seacor Holdings' long-term Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Rating Outlook is 'Stable.'
The downgrade reflects Fitch's view that the combined effects of the weak oil price environment and downcycle in the offshore support vessel mark read more
December,15th 2015
Saudis Seen Rejecting Calls For OPEC Cuts As Rivals Pump More
VIENNA, Dec 2 (Reuters) - Saudi Arabia is seen rejecting calls from fellow OPEC members to cut output when the group meets this week as the group's kingpin argues it cannot deal alone with one of the most severe oil gluts in history.
OPEC is widely expected to stick to its policies - enforced by Saudi Arabia' read more
December,3rd 2015
Halul Offshore in Qatar simulator first
Halul Offshore Services has become the first company to have a ship simulator to Qatar.
The company, a subsidiary of Milaha, has bought an OSV ship handling simulator, to train its crew who man over 40 vessels.
“This simulator supports the developme read more
November,29th 2015
Aramco awards EPC ...
Aramco has awarded an engineering, procurement, construction and install... read more