Maritime Reporter
log in
Skip Navigation Links
News
Magazine
Events
Contact us
Video/Webinars

Axis Bank Cancels Great Offshore Oil Rig Funding

Tuesday, October 06, 2009
Email AddThis Feed Button Share

In Bangalore, offshore oilfield services firm Great Offshore Ltd has run into fresh trouble after Axis Bank Ltd walked out of a deal to lend Rs350 crore to the Mumbai-based firm for funding the purchase of an oil drilling rig, currently under construction at Bharati Shipyard Ltd. Axis Bank wanted the money back after ONGC cancelled the rig contract and also due to delay in completing the construction of the rig.

(Source: livemint.com)

Maritime Reporter October 2009 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Maritime Jobs

Offshore

UK Offshore Hydrocarbon Up

According to a Nov. 16 report from Forbes.com, shares in UK’s Offshore Hydrocarbon Mapping Plc rose 29 percent after the electromagnetic surveys provider to the oil and gas sector won a $2.

Keppel Delivers PV Drilling III Jackup Early

Keppel FELS Limited (Keppel FELS) has been awarded a bonus of $460,000 for delivering the KFELS B Class jackup rig, PV Drilling III, early to PetroVietnam Drilling

Statoil’s Interesting North Sea Find

Gas and condensate have been discovered by Statoil in the Beta West prospect, 1.5 kilometres from the main Sleipner West reservoir. Resources in the find, which

Finance

CMA CGM: Significant Recovery in Operations

Operating profit for the CMA CGM Group is expected to return to the breakeven point in December 2009, ahead of the company’s cautious forecasts in September 2009.

North P&I Club Sets Premium Rise of 5%

Shipowner directors of the ‘A’ rated, 100 million GT North of England P&I club have decided on a 5% general premium increase for protection and indemnity (P&I) cover in 2010/11,

Star Bulk Carriers Declares Dividend

Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the company's common stock

mobi | rss feeds | archive
© 1996-2009 Maritime Activity Reports, Inc.
118 E 25th St, New York, NY 10010, USA
 •   Phone: +(1) 212-477-6700 • Fax: +(1) 212-254-6271