Prosafe has seen the clock run down on its agreement with lenders to extend its loan facilities, but insists it will operate as “business as usual”.
Flotel owner Prosafe has received some financial relief as it works to stay afloat amid the latest downturn.
A Teekay and COSCO joint venture operating LNG tankers serving Yamal LNG has been cleared to resume operations.
Tanker prices have rocketed over the last week, driven by US sanctions on various Chinese shippers, principally COSCO Dalian.
The Gas Exporting Countries Forum (GECF) has expressed “deep concern” about sanctions in the gas sector, the group has said after a meeting in Moscow.
The Energean Power hull has undocked from the COSCO shipyard, in Zhoushan, China, and floated out.
Aberdeen-based Sentinel Marine has launched its latest emergency response and rescue vessel.
Dana Petroleum’s long-awaited Western Isles FPSO has been completed at a shipyard in China.
Sevan Drilling and Cosco have agreed to delay the delivery of an ultra-deepwater cylindrical semi-submersible rig.
Chinese shipyard Cosco Corporation (Singapore) has successfully won an arbitration case in the UK. The case was against a compatriot rig owner in relation to an axed $500million-plus drillship newbuild deal. A spokesman for the company said the matter related to a previous announcement in October 2013.
The Cosco Corporation has warned its earnings for 2014 will be significantly lower than the year before due to the steep fall in crude oil prices over recent months. The company has been hit bu a $90million one-off charge for the firm’s discontinued Octabuoy and hill and topside module project.