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Tor Olav Trøim-backed Bruton has fixed its second VLCC newbuilding at a net rate of $105,700 per day. The Oslo-listed tanker owner has placed the 300,000 dwt Mount Horizon on a fixed-rate charter lasting between 12 and 15 months with an unnamed counterparty. The ship is scheduled to deliver from China’s New Times Shipbuilding in …
https://splash247.com/bruton-lands-six-figure-rate-for-second-new-vlcc/
https://splash247.com/bruton-lands-six-figure-rate-for-second-new-vlcc/Supermajor Shell, through its Malaysian subsidiary, Sabah Shell Petroleum Company, has taken a final investment decision on the third phase of the Malikai deepwater development. The project involves drilling four oil-producing wells to enhance Malikai’s expected recoverable oil volumes, with the aim of sustaining material liquids production of around 1.4m barrels per day towards 2030 …
https://splash247.com/shell-greenlights-next-phase-of-malaysian-deepwater-field/
https://splash247.com/shell-greenlights-next-phase-of-malaysian-deepwater-field/UK-headquartered oilfield services specialist EnerMech has secured a multi-year contract to deliver topside process and shutdown services across an offshore asset portfolio of an undisclosed North Sea operator. The award is the second major contract secured by EnerMech in recent months for comparable topside process services in the North Sea. The previous deal was awarded …
https://splash247.com/enermech-bags-maintenance-deal-in-the-north-sea/
https://splash247.com/enermech-bags-maintenance-deal-in-the-north-sea/Oslo-listed Stainless Tankers has laid out plans to sell its remaining six chemical tankers within the next 18 months, moving the Tufton-backed vehicle towards a full fleet exit. The company said the vessels would be sold in an orderly manner before their next major capital expenditure requirements and within the five-year investment horizon set when …
https://splash247.com/tufton-backed-stainless-tankers-heads-for-full-fleet-exit/
https://splash247.com/tufton-backed-stainless-tankers-heads-for-full-fleet-exit/US-listed Excelerate Energy has acquired the 2010-built LNG carrier Methane Patricia Camila, earmarking the ship for the company’s first conversion into a floating storage and regasification unit. Excelerate disclosed the purchase in its second-quarter update without naming the seller or price. A Tokyo Stock Exchange filing from Japan’s Meiji Shipping Group shows the ship changing …
https://splash247.com/excelerate-picks-up-lng-carrier-for-first-fsru-conversion/
https://splash247.com/excelerate-picks-up-lng-carrier-for-first-fsru-conversion/The Transportation Institute (TI), representing U.S.-flag American shipping companies, joined farmers, millers, longshoremen, merchant mariners, the U.S. Department of Agriculture, and the World Food Programme (WFP) at the Port of New Orleans…
https://www.marinelink.com/news/food-peace-program-begins-wheat-shipment-541856
https://www.marinelink.com/news/food-peace-program-begins-wheat-shipment-541856Nigeria is targeting $30bn to $50bn in new upstream investment over the next five years, with 22 major offshore projects expected to move forward between 2026 and 2030. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief executive Oritsemeyiwa Eyesan said the projects would help lift crude output, create jobs, and strengthen energy security. She added …
https://splash247.com/nigeria-targets-up-to-50bn-for-upstream-expansion/
https://splash247.com/nigeria-targets-up-to-50bn-for-upstream-expansion/Offshore drilling giant Transocean has secured two extensions and one new contract for three of its rigs. According to information provided in the company’s fleet status report, an unnamed operator awarded a two-well contract extension to the 2016-built drillship Deepwater Conqueror in the US Gulf of Mexico. The rig has been working for the operator …
https://splash247.com/transocean-secures-new-gulf-of-mexico-and-africa-rig-work/
https://splash247.com/transocean-secures-new-gulf-of-mexico-and-africa-rig-work/Offshore driller Valaris has secured a batch of new contracts and extensions for its rig fleet, lifting its backlog to $4.6bn. Its 2015-built Valaris DS-18 drillship won a letter of award from an unnamed client for a two-well exploration program. The program is expected to commence in the fourth quarter of 2026 and last up …
https://splash247.com/valaris-lands-new-contracts-as-backlog-reaches-4-6bn/
https://splash247.com/valaris-lands-new-contracts-as-backlog-reaches-4-6bn/Limited demolition supply and intense buyer competition have created one of the strongest ship recycling markets in years. Hitesh Vyas from Wirana Shipping reports. Shipowners are currently benefiting from one of the strongest recycling markets seen in recent years. Demand from cash buyers and recycling yards remains high, yet the supply of end-of-life vessels is …
https://splash247.com/shipowners-shouldnt-assume-todays-strong-recycling-market-will-last/
https://splash247.com/shipowners-shouldnt-assume-todays-strong-recycling-market-will-last/