Charles Dickens offered only A Tale of Two Cities. This week, I offer a tale of no less than six restructurings, as the crisis in the offshore sector comes to a head. One ..
Tag: Valaris
Sometimes it is not only easier to walk away, but actually better The deepwater drilling industry is in crisis, as you know. In 2020, four major owners of deepwater rigs ..
After announcing in October that it would liquidate the subsidiary that owns the FPSO Umuroa, and hand the idle vessel to the company administrators to maintain, remove ..
Last week we looked here at how China State Shipbuilding Corporation has decided to restart work on a pair of unfinished deepwater drilling rigs in Shanghai Shipyard at ..
The New Year brings good news for the global offshore projects sector, with key contracts being approved and others already underway and some even successfully concluded. ..
In Part One (here) we looked at how the biggest names in the offshore sector, Tidewater and Bourbon have drastically shrunk their fleets in the face of pressure from ..
We have previously seen unwanted deepwater rigs scrapped in the breakers yards of Turkey, or held for conversion into subsea mining vessels by Allseas, as the drilling ..
Another Christmas Eve, another frantic effort from a struggling Norwegian offshore contractor to cobble together a deal with its creditors before the end of the year. A ..
COLUMN | Singing from the same songsheet: BP, Subsea7, Allseas, PGS and the rest [OFFSHORE ACCOUNTS]
All dictators seem to use the same playbook. They lock up or kill their opponents, purge their enemies, censor the press, bend the judiciary to their will, and in the ..
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