Reach Subsea Scores Work in Houston
Norwegian based offshore services provider Reach Subsea said its Houston office has secured several contracts from oil majors in the region, comprising some 100 days of work.Reach Subsea opened its Houston office earlier this year with sights on expanding its services into the important subsea hub. So far, the company has…
Statoil Awards ERRV Contracts
Statoil awards Simon Møkster Shipping AS contracts for three emergency response and rescue vessels (ERRV), and Havila Shipping ASA for one ERRV. The contacts have a total value, included options, of NOK 2.7 billion. The vessels will be part of Statoil’s area-wide emergency response on the Norwegian continental shelf (NCS).
OSV Industry Faces Further Restructuring -Nordea
Thorodd Bakken, head of Nordea Norway's Corporate & Investment Bank, expects more restructuring to take place in the offshore supply shipping industry in 2017, he told Reuters on the sidelines of a business conference on Thursday: * Markets remain very demanding for offshore supply ship owners and it will continue to be so in 2017, he said * Expect several restructurings to be completed, t
Offshore Supply Ship Market Set for Consolidation
A glut of offshore supply vessels and falling demand from oil firms will trigger a restructuring of the still-fragmented industry, two of the largest owners of the specialty ships told Reuters on Tuesday. With crude prices down more than 70 percent since mid-2014, energy firms have sharply cut their exploration spending, leaving a rising number of vessels to be mothballed.
