VesselsValue COO Adrian Economakis presented recently on the ‘The Strength of Recovery in the Shipping Markets’. VesselsValue’s data summarizes the Good, the Bad and the Ugly of the shipping markets.
Oil markets are heading into the period of maximum seasonal tightness (June through September) with relatively low levels of global crude stocks. With a forecast increase of 3 MMB/D in crude runs, we see extraordinary summer tightness in oil markets.
Acoustic Data, a global leader in wireless well technology, announces that it has closed an US$8m investment from Energy Growth Momentum (EGM), a London-based growth capital investor within the energy sector.
In this current period of downturn, critics of offshore shipowners will say that owners have been guilty of not scrapping older tonnage in order to maintain a young and advanced fleet. Though this is justified, rewind to pre-downturn, these debt free older vessels were able to get work on a fairly regular basis, and were a cashflow generator for owners.
Oil and gas exploration is regaining momentum after the lean years in which budgets were slashed, with seismic technology and greater flexibility by governments able to help yield a new crop of giant discoveries, executives at a London conference said Tuesday.
Talos Energy LLC ("Talos") and Stone Energy Corporation (NYSE: SGY); ("Stone") have announced that a majority of the stockholders of Stone have approved and adopted the previously announced transaction agreement under which Talos and Stone will combine in an all-stock transaction.
VesselsValue (VV), the world’s leading online valuation provider, is launching daily valuations for Offshore Construction Vessels (OCVs). This completes VV’s expansion into Offshore Valuation, which already includes all types of Mobile Offshore Drilling Units (MODUs) and Offshore Support Vessels (OSVs). OCVs add 2,000 vessels to the VV database bringing the total number of offshore units assessed by VV to over 11,000.
Senior oil and gas sector professionals expect a step change in the industry’s capex, opex and R&D spending levels in 2018, according to a new industry benchmark study from DNV GL.
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) has announced that it had taken note of McDermott International, Inc. ("McDermott," NYSE: MDR) shareholders' vote in favor of a combination with CB&I (NYSE: CBI).
Subsea 7 S.A. confirms that it made a proposal(1) to the Board of Directors of McDermott International, Inc. on April 17, 2018 to acquire the entire issued share capital of McDermott.
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