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Lundh’s chemical coup
Swedish shipbroker races to cash in on management of small Turkish chemical tankers built on spec during the market boom.
OGX fixes
OGX has chartered the former Nexus 1 FPSO from another Eike Batista-controlled company for an average of $263,000 per day, the Brazilian oil producer says.
The Brazilian oil producer will take the 133,000-dwt newbuilding floating production, storage and offloading unit (FPSO) OSX 1 for 20 years.
Both companies are controlled by Eike Batista.
OSX purchased the FPSO from Nexus Floating Production or $362m, revealing that the would-be shipbuilder also planned to become an owner of offshore units. The FPSO is nearing completion at Samsung Heavy Industries in South Korea.
Both OSX and OGX are controlled by EBX Group, the mining and energy conglomerate controlled by Batista, Brazil's richest man.
The OSX 1 charter is poised to be the first of many such agreements between the sister companies.
As TradeWinds reported on Wednesday, the two outfits have forged a partnership agreement aimed at seeing OSX charter to OGX the FPSOs and platforms that OGX needs to produce from the exploration blocks it controls off Brazil.
OGX forecasts that it will need 19 floating production units and 29 platforms.
Latest News
RLOG on the up
Great Lakes bulker specialist predicts another profitable year as expanded fleet lifts bottom line.
Full circle for finance man
Investment banker Kevin O'Hara has rejoined New York boutique firm AMA Capital Partners after seven years.
Iran facing shipping squeeze
Trade dwindling as Maersk and Hapag-Lloyd among those pulling out due to US and EU sanctions.
Strike three for Saverys
Shipowner Marc Saverys continues to sell off stock in shipbroker Clarksons.
DSX plays down Daelim drama
Cargill steps in as South Korean charterer coughs up cash to cover early return of bulker to US-listed owner.
Tough end for ASL Marine
Singapore-listed offshore company sees revenue and earnings sliced by a quarter in the final period of 2011.
Dividend chop just the start
Axing of shareholder payouts at OSG may need to be accompanied by asset sales, analyst says.
Peel plots post-panamax port
Port of Liverpool owner ready to spend £250m on new containership facility at Seaforth.
Seabird swoops on contract
Oslo-listed seismic outfit eases financial troubles with award of $13m deal.
GE earnings cut
Weaker bulker markets in third quarter sees Indian owner's profit chopped, but tankers improve.
BLT has some backing
Creditors are being supportive of Indonesian owner’s restructuring efforts, says Kevin Wong.
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