The Indian Navy has successfully gained control of a foreign-flagged cargo vessel that was held captive by Somali pirates for months following its hijacking in the Arabian Sea late last year.
Last week we looked at Britoil’s acquisition of 30 offshore supply vessels (OSVs) from Vroon for a price we estimated to be in the region of US$239 million, and the acquisition of the Vroon Offshore Services management teams in Singapore and Italy.
We said it last year, we say it again: offshore is back! Last week, we looked at the poor disclosure associated with the takeover of wind turbine installation vessel (WTIV) owner Eneti by Danish rival Cadeler. We concluded that the deal was marred by some very large payments to unknown parties who are creaming off […]
Subsea services provider Subsea 7 confirmed earlier this week that its offer for the entire share capital of Norwegian offshore support vessel operator the DOF Group (DOFG) has expired and will not be extended. Subsea 7 said this expiration follows the rejection of the offer by the board of DOFG on June 16, 2023. The […]
“Are you too cynical to believe in a miracle?” Ellie Goulding asks in her new, top three single with Calvin Harris (here). Well, Miss Goulding would be delighted to read of three miracles in the offshore world as we move into Easter week. Miracle Number One: DOF restructures at last – New DOF is born […]
King Henry VIII of England is most famous for two things: 1) having six wives and 2) “dissolving” the monasteries. The latter was especially chaotic, being characterised by a grab of religious land and property to enrich the king, as abbeys and priories with centuries of tradition and thousands of acres of valuable farmland were […]
After the shocking injustice perpetrated by the cruel and arbitrary governments of Nigeria and Equatorial Guinea on the 26 unfortunate seafarers aboard the crude oil tanker Heroic Idun, we turn our eyes this week to boardroom battles in Europe wherein some rich and powerful people either resign from their jobs or face imminent firing. We […]
Merry Christmas! On the twelfth day of Christmas my true love gave to me… twelve drummers drumming, eleven pipers piping, ten lords a-leaping and so on, all the way back to that partridge in a pear tree from day one of the old festive carol. But not here, as, for the third year in a […]
In past columns we have looked at the battle of the subsea robots (here) and the struggle to win subsidies to fund future fuel initiatives (here). This week we look at fights over pie, not at the dinner table, but in the boardroom and the courts. The economist Alex Edmans has argued that there are […]
