Last week we looked at the ongoing restructurings at DOF, Havila, Siem Offshore and Saipem. With judicious bail outs from shareholders and support from lenders, the oil a ..
Hermitage Offshore
COLUMN | Nothing’s right, I’m torn: Saipem and Sapura face a Natalie Imbruglia moment in offshore wind, as Siemens Gamesa fires its CEO! [Offshore Accounts]
“Illusion never changed into something real,” warbled Australian pop star Natalie Imbruglia in her 1998 global smash hit Torn, a song that catalogues her broken heart ..
COLUMN | The First Four Days of Christmas 2021: Cairn/Capricorn, Vantage Drilling, North Star and Vard, Shearwater and Shell [Offshore Accounts]
Last year we took an offshore take to the familiar Twelve Days of Christmas carol (here) and (here). So, now it is time to revisit the first four festive players, and cat ..
COLUMN | The deals are on! – Rigs, boats and jackups start to change hands [Offshore Accounts]
Summer is usually a quiet time for deals, when investment bankers retreat to their villas in the south of France, Norwegian shipowners retire to their family chalets for ..
Lauro-led OSV operator sells two AHTs, files for Chapter 11
At 9.02 a.m. ET yesterday, Emanuele Lauro led Hermitage Offshore Services Ltd. (NYSE:PSV) reported that it had sold its only two anchor handling tug supply vessels, Then, at 10.56 p.m., the company and 28 subsidiaries announced they had filed petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.
In announcing the sale of the AHTS duo, Hermitage said that the consideration for the transaction consisted of its unconditional release of all...
https://www.marinelog.com/offshore/lauro-led-osv-operator-sells-two-ahts-files-for-chapter-11/
COLUMN | Forbear with me – MMA Offshore, Siem Offshore and Hermitage Offshore – Part 2 [Offshore Accounts]
One company that did deliver some success in its restructuring and buy some time for its shareholders was Siem Offshore. On July 2, Siem announced announced that its ..