ABS has published a guide to help drilling asset owners carry out rig layups. The new ABS Guide for Lay-Up and Reactivation of Mobile Offshore Drilling Units provides requirements for stacking units based on the type of lay-up to be carried…
Auditor KPMG says that the mergers and acquisitions (M&A) in the Transport sector will supersede the levels seen in 2015 this year. In 2016, mergers and acquisitions (M & A) in the Transport sector will supersede the levels seen in 2015 by exceeding the £ 52 billion mark…
With profit margins under pressure, oil and gas companies are focused on getting more out of existing assets while significantly reducing capital expenditure. Recent data shows that a 5% improvement in Opex could save £490 million on the UK Continental Shelf alone…
Hyundai Merchant Marine Co. (HMM), is resurrecting an asset-sale plan in an effort to stave off bankruptcy as it reels from a crisis in the shipping industry brought on by slowing global trade, says WSJ. The Seoul-based company plans to…
Keppel plans to consolidate its interests in business trust, REIT and fund management under Keppel Capital and grow its asset management business.In a major restructuring exercise to grow the contribution from its Investment Division, Keppel…
ABS Group to Develop Intelligent Maintenance Strategy for Golar FLNG Fleet ABS Group subsidiary Genesis Technology Solutions, Inc. (GenesisSolutions) won a contract by Golar LNG to develop an intelligent maintenance strategy for the company’s…
Global commodities trader Trafigura said on Monday it had hired former asset manager Chin Hwee Tan as its chief executive officer for the Asia-Pacific.Tan will be responsible 'for continuing the growth of Trafigura's business across the region'…
China's cabinet on Tuesday (Dec 29) approved a deal that fuses two of the country's biggest state-owned transport and logistics firms, reports Reuters. China's cabinet has approved China Merchants Group's acquisition of Sinotrans & CSC Holdings Co…
Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
The EU Commission has accepted a comprehensive rescue plan for the German shipping bank - HSH Nordbank - which will offload approximately USD 7 billion of its troubled assets back onto the government and privatize. The bank's owners, which bailed out HSH in the financial crisis…
Tidewater Inc. announced today a first quarter net loss for the period ended June 30, 2015, of $15.1 million, or $0.32 per common share, on revenues of $304.8 million. For the same quarter last year, net earnings were $43.7 million, or $0…
DeepOcean has secured a contract with BG Group for inspection, maintenance and repair (IMR) work on the British operator’s subsea assets off the UK and Norway. The Norwegian contractor will use vessels from its North Sea-based fleet to carry out work under the five-year deal…
A joint venture between Mitsubishi Corp subsidiary MC Asset Management and Seamax Partners has held a $300m final close for its debut fund, which will target container shipping. Seamax Partners is the manager of MC-Seamax Management Limited…
Honeywell unveils the TAM-442 satellite terminal for asset tracking and monitoring. This battery-powered terminal from Honeywell Global Tracking, a division of Honeywell Scanning and Mobility, is rugged, versatile and ideally suited for tracking a wide range of mobile and fixed assets…
New office increases the capacity of the AVEVA Center of Excellence for Operations Integrity Management Solutions AVEVA announced that it is opening a new Center of Excellence for Operations Integrity Management Solutions for Owner Operators (OOs) in the oil and gas…
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