Offshore Rig Firms See End to Historic Downturn
to see next fixtures for such rigs to rise to $300,000 from current levels of around $200,000. Oslo-based Pareto Securities also said it expected day rates for modern harsh-environment rigs to rise to $250,000-$300,000 in contracts awarded in 2018, with other segments rising later. Nordea bank said it saw the rig market in the North Sea tightening in 2018, particularly for high-end rigs, with Odfjell Drilling signing in August a nine-month contract with Aker BP at a day rate of $250,000. Analysts mostly have "Buy" or "Strong Buy" ratings for Borr Drilling
DONG Energy Shares Jump after European IPO
improves. DONG said more than 36,000 new investors had been allocated shares in the flotation. Private Danish investors were assigned about 10 percent of the 72.8 million shares sold, with the rest bought by Danish and international institutional investors. JP Morgan, Morgan Stanley and Nordea were global coordinators for the listing. Citigroup, Danske Bank, UBS, RBC, Rabobank and ABG Sundal Collier and Lazard were also involved.| ($1 = 6.5311 Danish crowns) (By Jacob Gronholt-Pedersen, Ole Mikkelsen and Nikolaj Skydsgaard; Additional reporting by Ole Mikkelsen
Norway's PGS Plans Share Issue to Boost Equity
; PGS said in a statement. "Ferd AS and certain other existing shareholders have pre-subscribed for shares in the Private Placement. Ferd AS' pre-subscription is significantly larger than its pro rata portion of the new shares," it added. PGS has hired ABG Sundal Collier and Nordea Markets as joint global coordinators and bookrunners. ($1 = 8.6111 Norwegian crowns) (Reporting by Terje Solsvik
Construction Vessel Delivered to Eidesvik
Eidesvik Offshore has taken delivery of Viking Neptun, an offshore construction vessel from Kleven Verft AS. According to Eidesvik Offshore, TBN Viking Neptun represents its largest ever investment in the subsea segment. A long-term loan facility of $124 million has been drawn with Nordea and Eksportkreditt Norway/GIEK to finance the vessel. The vessel, equipped with Reach ROVs and manned by Eidesvik marine personnel and Reach ROV personnel and engineers, will begin a contract with Technip in March 2015. The fixed period was initially for 110 days with additional options, the first of which was
Construction Vessel Delivered to Eidesvik Offshore
Eidesvik Offshore has taken delivery of Viking Neptun, an offshore construction vessel from Kleven Verft AS. According to Eidesvik Offshore, TBN Viking Neptun is represents its largest ever investment in the subsea segment. A long-term loan facility of $124 million has been drawn with Nordea and Eksportkreditt Norway/GIEK to finance the vessel. The vessel, equipped with Reach ROVs and manned by Eidesvik marine personnel and Reach ROV personnel and engineers, will begin a contract with Technip in March 2015. The fixed period was initially for 110 days with additional options
DryShips Reports 3Q 2014 Results
$80 million, or 57,142,000 shares, of common stock in the offering at the public offering price. Following this offering, Mr. George Economou has increased his ownership in DryShips to 16.9%. - On October 29, 2014, the Company signed definitive documentation for a senior secured credit facility with Nordea Bank for up to $170.0 million to refinance the existing indebtedness under the Company’s $325.0 million Senior Credit Facility, which has a balance of $50.0 million as of October 31, 2014. This facility has a five year term and bears interest at LIBOR plus a margin and will be secured by
February 2025
