Total SA scaled back the expansion strategy it pursued during the past decade of high oil prices, announcing a fresh round of investment cutbacks and project delays while reducing production targets. The measures, laid out by the French energy company on Wednesday before an investor day in London, signal that the belt-tightening among global oil... Continue Reading →
Petrobras ends contracts for two World Wide Supply PSVs
Petrobras ends contracts for two World Wide Supply PSVs
zoomWorld Wide Supply AS, a company providing offshore shipping services for the global petroleum industry, has received notice of early termination of contracts for two of its platform supply vessels (PSVs) from Brazilian oil and gas giant Petrobras.
Namely, the contracts were terminated for two 2013-built PSVs, the World Opal and the World Peridot. The vessels were supposed to be under a contract with Petrobras until July 2018.
According to World Wide Supply, the charterer has declared that it does not see itself obligated to pay the accrued hire through the “blocking-period”, which at the date hereof amounts to approximately $3 million.
“Dialog has been initiated with Nordic Trustee and an informal bondholders’ committee,” the shipping company said.
The vessels are of a Damen’s PSV 3300 design. With an 80.1m length, the PSV 3300 has a deck load of 1,500 tonnes. It can…
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