Fish farmer and OSV operator plan JV
JUNE 2, 2016 — With fishing farming (aquaculture) booming and the offshore service vessels market not so much, two companies in which John Fredriksen has an interest plan an interesting joint venture.
John Fredriksen
Deep Sea Supply ups 2015 loss by $31 million
APRIL 26, 2015 — First the good news, now the not so. Yesterday, John Fredriksen controlled Deep Sea Supply (DESS) reported that four of its platform supply vessels had found work. Today,
Golden Ocean unveils plan to boost balance sheet
FEBRUARY 18, 2016 — The oceans have been less than golden for bulk carrier owners lately, and that’s certainly been the case for Oslo listed Golden Ocean Group. Today it reported a
Seadrill cancels rig order at Hyundai Heavy
The unit was ordered during the second quarter of 2012 and the delivery date stated in the construction contract was by December 31, 2014.
“Due to the shipyard’s inability to deliver the unit within the timeframe required under the contract, the company has exercised its cancelation rights,” says Seadrill, which notes that, under the contract terms, it has the ability to recoup its $168 million in pre-delivery installments to the shipyard, plus accrued interest.
In fourth quarter 2012, Seadrill was awarded a five year contract for the West Mira with Husky Oil Operations for operations in Canada and Greenland.
In its second quarter earnings report, Seadrill reported that, due to the late delivery of West Mira, the company had tentatively agreed with Husky to reduce the dayrate of the West Mira drilling contract.
Seadrill says it remains in discussions with Husky to find an alternative solution to meet its drilling requirements.
Frederiksen puts Frontline together again
JULY 2, 2015 — Billionaire John Fredriksen is putting his two tanker operations, Frontline Ltd. (NYSE/OSE/LSE: FRO) and Frontline 2012 Ltd. (NOTC: FRNT) back together again. The move comes four years after
Golden Ocean moves to strengthen its cash position
APRIL 27, 2015 — John Frederiksen’s Golden Ocean Group Limited said today that though it is not abandoning its strategy to be a “much needed consolidator” in the dry bulk sector it
Frontline in debt-for-equity swap
DECEMBER 16, 2014 — John Fredriksen’s Frontline Ltd. (NYSE:FRO) looks to be taking advantage of stronger share prices to knock down the size of its bond repayment bill through swaps. On Friday,
Sinopacific shipyard completes Deep Sea Supply PSV series
NOVEMBER 5, 2014 — Zhejiang Shipbuilding, Ningbo, China, recently delivered Sea Swift, completing a series of twelve 88.9 m Ulstein PX 105 design platform supply vessels ordered by ship owner Deep Sea
Fredriksen swoops on Flex LNG
OCTOBER 24, 2014 — Billionaire John Fredriksen is poised to add Flex LNG to his empire. Geveran Trading Co Ltd, which is indirectly controlled by trusts established by John Fredriksen for the
Knightsbridge to acquire remaining Frontline 2012 fleet
APRIL 24, 2004 — John Fredriksen is rearranging the place settings on the dry bulk market table. The move involves two companies that once were tanker operations before going dry. Knightsbridge Tankers