Keppel FELS completes Jindal’s 2nd jackup earlier
Keppel FELS Limited (Keppel FELS) is set to deliver a jackup rig ahead of schedule to Virtue Drilling, an associate company of India’s Jindal Drilling & Industries (Jindal). Named in the presence of Guest-of-Honour, Dr Lee Boon Yang, Singapore’s ...
Seadrill newbuilding fixed
John Fredriksen’s Seadrill has secured a near $380m contract for one of its newbuildings. Its semi-tender rig West Berani II will join Chevron offshore Angola for five years following its delivery in early 2010. Alf Thorkildsen, CEO of Seadrill,...
Rates for offshore vessels will plummet
Plunging oil prices and an influx of newbuildings will cut term charter rates for offshore vessels in half over the next two years, a leading bank warns. With oil down at less than $40 per barrel, some offshore projects are becoming unsustainable ...
Drydocks may invest in more rigs, vessels
Drydocks World may consider investing in more rigs and vessels on order from its shipyards in Singapore and Indonesia in anticipation of an upswing in newbuild demand after the current economic downturn. Drydocks' Graha yard in Batam, Indonesia, ...
FPSO owners sell tankers at discount prices
A slump in credit availability is causing a fire-sale of tankers by owners of oil production ships. One owner has already sold two tankers for drop-down prices of around $10m each and another two are up for sale. Brokers said more idle tankers own...
STX Europe wins PSV contract from Japan
STX Europe has signed contracts for delivery of design and ship equipment for four platform supply vessels of its PSV 09 CD design. The total value of the four contracts is about NOK 400 million (about $56.5 million). STX Europe's newly opened off...
CNPC's monumental jackup drilling rig completed
China National Petroleum Corporation (CNPC)’s largest project, the jackup drilling platform 9 was completed and delivered on December 2, 2008. It is world’s first drilling platform that a lifting motor drives 2 lifter gears. As of the begi...
A Petrobras FPSO has been installed off Brazil
The P-53, or Petrobras 53, was converted from the 322,000-dwt Settebello (built 1986) into a floating, production, storage and offloading unit (FPSO) with 180,000 barrels in daily oil production capacity. It also has a compressing capacity of 6 mi...
Bourbon takes delivery of tenth Liberty
Paris-headquartered Bourbon is on a roll with its massive Liberty series of 76 Guido Perla designed newbuildings from Chinese yards. The program is designed to rapidly replace old and obsolete vessels operating in continental offshore and includes 22...
Keppel may lead to more cancellations
Keppel’s announcement that $870m worth of rig orders are under threat at its Singapore-based yard may set a dangerous precedent for more order cancellations, a leading analyst warned. The recent dive in oil prices to around $50 per barrel and o...
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