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 went into Chapter Eleven bankruptcy protection: pureplay drillship owner Pacific Drilling (for the second time), Noble Corporation, Diamond Offshore ..
Tug companies in the Far East might be expected to recoil in horror at a recent report published by the US National Bureau of Economic Research. Written by academics at the University of Virginia, the study concludes that a military conflict in the South China Sea would force most shipping heading for Asia and the US west ..
Boskalis buys Rever Boskalis announced here it has purchased beleaguered North Sea diving outfit Rever Offshore from Rever’s private equity owners Fara Holdco on January 5. Boskalis is playing a great hand in the industry downturn, scooping up high value distressed assets from distressed owners, or their lenders, using ..
Even after Asia’s economies climb out of the Covid-19 recession, China’s strategy of frenetically building dams and reservoirs on transnational rivers will confront them with a more permanent barrier to long-term economic prosperity: water scarcity. China’s recently unveiled plan to construct a mega-dam on the Yarlung ..
There was an amazing satellite image taken of what was supposed to be the largest and deepest depression that had ever been recorded in the North Pacific. And it was exceedingly extensive, blanketing the whole of the Aleutian chain of islands and revolving around a huge low several hundred miles south. You had to feel for ..
The news that the bulk carrier Wakashio grounded off Mauritius and broke in two in August last year because the crew were navigating dangerously close to the shore in order to – wait for it – be able to pick up a mobile phone signal, is probably the biggest argument in favour of autonomous ships. One of the ..
Pilbara Ports Authority (PPA) has confirmed that two newbuild bulk carriers will be used to transport Pilbara iron ore to South Korea on a new service that will see a ..
A cargo vessel came to the aid of four men who had gone adrift in the waters off Sardinia after their boat suffered engine failure and water ingress on Saturday, January ..