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BAKER MARINE

Sembcorp Wins $121M Rig Deal

PPL Shipyard, a subsidiary of SembCorp Marine has signed a rig building contract worth US$121 million with Wilsuperior Ltd, a subsidiary of Awilco Offshore ASA (AWIL) for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jack Up Rig. The Construction Contract is an option that PPL Shipyard granted to Awilco Offshore ASA in May 2004 and which the later has now decided to exercise. The contract takes effect in June 2005. Construction of the jack-up rig is expected to commence in third quarter of 2005 with delivery scheduled in the second quarter of 2007. The Baker Marine Pacific Class (.BMC Pacific.) 375 Deep Drilling Offshore Jack- Up Rig is a proprietary designed developed and owned by Baker Marine Pte Ltd, a wholly owned subsidiary of PPL Shipyard. The jack-up rig, to be named Wilsuperior, will be equipped with a drilling package that will enable it to drill high pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of water. It has accommodation for 120 men. Mr T. K. Ong, Managing Director of PPL Shipyard said .We are pleased that Awilco Offshore ASA has decided to exercise the option to build the second jack- up rig with us. Our confidence that more Baker Marine Pacific 375 Class jack-ups will be built is proving to be spot on. This is the sixth jack-up rig on order within a


Baker Joins Bisso Marine

Photo courtesy Bisso Marine

Bisso Marine, provider of energy and maritime support services, announced the addition of John C. Baker as director of Quality and Compliance. Baker directs and manages the company’s ISO 9001:2008 Quality Management System and AWO RCP Safety Management System, including procedural development and auditing for compliance. Before joining BISSO MARINE, Baker served as manager of Corporate Quality and Compliance for Kirby Corporation


Baker Hughes To Record Second Quarter Tax Benefit

Baker Hughes Inc. will reportedly recognize a tax benefit of $20 million in the second quarter as a result of an agreement with the U.S. Internal Revenue Service to close the audit of the company's fiscal 1994 and 1995 consolidated income tax returns.


Baker Joins EBDG

Elliott Bay Design Group is pleased to announce that Gwen Baker has joined the staff as a Marine Designer. Gwen is a recent graduate of the Marine Institute at Memorial University in New Foundland, where she received her Diploma of Technology in Naval Architecture. For her first project, Gwen will be preparing 3-D composite modeling for the 260 ft. offshore supply vessel that the firm has been working on for Hornbeck Offshore Services.


New Solutions Soothe Sub M Uncertainties

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Germanischer Lloyd, Baker Lyman Sub-Chapter M Alliance brings affordable, turnkey TSMS solutions – and compliance – to towboat operators.   When a family-owned, Gulf Coast based marine firm known primarily as a Chart Agent branches out into the world of maritime software, that’s big news. When a global, U.S. Coast Guard recognized vessel classification society acquires a world class survey and engineering firm to form a fully integrated technical consulting company


Halliburton Seeks to Replace Baker Hughes Board

Baker Hughes Incorporated today announced receipt of notice from Halliburton Company that it intends to nominate candidates to replace the entire board of directors of Baker Hughes at its Apr. 2015 annual meeting. The nominations followed discussions between the parties regarding a potential business combination transaction, and Halliburton's refusal to improve its first and only value proposal. Baker Hughes considers the notice to be an attempt by Halliburton to pressure the Baker Hughes


Lawrence Graham Appoints New Partner

London-based law firm Lawrence Graham has appointed Charles Baker, an experienced maritime and trade lawyer, as a new partner. Baker, who has more than 25 years experience in maritime law, had previously been with Herbert Smith where he set up the Paris office of Holman Fenwick & Willan.


NORTH P&I CLUB Publishes Guidance On Sanctions For Shipowners

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The ‘A’ rated, 150 million GT North of England P&I club has published new guidance for shipowners on how to avoid being caught out by the increasingly complex ‘patchwork’ of international trade sanctions currently in force worldwide. Writing in the club’s newsletter ‘Signals’, head of loss prevention Tony Baker says, ‘Trade sanctions are at the forefront of modern diplomacy and can be imposed by individual countries or supranational bodies


Baker Hughes Name New Corporate Treasurer

Mike Sumruld has been named Vice President and Treasurer of the giant oil-field services provider. "Mike brings more than 20 years of diversified financial expertise, international experience and a record of solid performance within Baker Hughes to his new role as Treasurer," said Peter Ragauss, Baker Hughes Senior Vice President and Chief Financial Officer. "We believe this depth of experience will enable him to interact very effectively with our external stakeholders


Baker Hughes Names Kimberly Ross as CFO

Kimberly A. Ross

  Baker Hughes Incorporated has today announced appointment of Kimberly A. Ross, as Senior Vice President and Chief Financial Officer (CFO) effective October 22, 2014. Ross currently serves as Executive Vice President and CFO of Avon Products, Inc. She served as Executive Vice President and CFO of Royal Ahold N.V. from 2007 to 2011 and held various other finance positions at Royal Ahold from 2001 to 2007. Ross earned a Bachelor of Arts degree in accounting from the University of


Hedge Funds' Big Bets on Energy Companies Pummeled

Some of the hedge fund industry's most respected firms made bigger bets on a wide swatch of energy companies during the third quarter only to watch the stocks get pummeled by falling crude oil prices. Robert Citrone's Discovery Capital Management raised its holding in Texas oil driller


Merger Talks Feed Energy Sector Deal Speculation

Employees work in a lab at the Halliburton Co. facility in Houston.

  Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. Competing service companies including National Oilwell


Halliburton & Baker Hughes Merger

Two giants merge

  Halliburton Company and Baker Hughes Incorporated  today announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78


US Navy: Tortuga Allision Costs CO, XO Their Jobs

USS Tortuga's (LSD 46) Commanding Officer, Cmdr. Thomas Goudreau and Executive Officer, Cmdr. John Fleming, were relieved of their duties Dec. 16, due to loss of confidence in their ability to safely operate and navigate the ship and their credibility to lead the crew.


Bordelon Celebrates 35 Years in Marine Services

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This year marks the 35th anniversary of Bordelon Marine. Established in 1979, the company said it has maintained a family-oriented culture and a positive presence in its community by continuing the long standing trust it has established with its vendors and employees alike. 


North P&I Club Warns of Poor Newbuild Construction

The North P&I club has warned its members to check their new ships very carefully before accepting delivery. The club said in the latest issue of its loss prevention newsletter Signals that it has become aware of several of instances of potentially dangerous poor construction in the


Port of Pittsburgh Taps Martinko as Executive Director

Stephen Martinko, Port of Pittsburgh Executive Director

The Port of Pittsburgh Commission (PPC) announced today that Mr. Stephen Martinko will be the Commission's new executive director. Since January, 2013, Martinko has been the deputy staff director of the U.S. House of Representatives Transportation and Infrastructure Committee and previously


Baker Hughes' CEO to Present at 2014 Barclays Energy-Power Conference

Baker Hughess Chairman and Chief Executive Officer, Martin Craighead,

  Baker Hughes Incorporated announced that the Company's Chairman and Chief Executive Officer, Martin Craighead, will be making a presentation at the Barclays CEO Energy-Power Conference on Wednesday, September 3, 2014, at 9:45 a.m. Eastern time. 


First N.American Boat Powered by Volvo Penta IPS

Photo courtesy of Volvo Penta IPS

Thomas Paine, the new 50-ft. aluminum patrol boat that joined the Massachusetts Environmental Police fleet in July, is the first commercial vessel in North America to be powered by Volvo Penta IPS propulsion. Built by Metal Craft Marine Inc


Maersk Convincer gets 1 yr More

Maersk Convincer

Petronas Carigali, the Exploration and Production subsidiary of the national oil company in Malaysia, has extended the contract for the jack-up rig Maersk Convincer by one year. Consequently, the rig will be on contract with Petronas until mid-November 2015


Specialty Workboat Missions Propelled by Innovative Engines

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Volvo Penta allows operators to save on fuel, cut emissions and most importantly – get the job done, in a wide array of conditions and mission sets. Volvo Penta of the Americas is delivering fuel efficiency, reducing emissions and raising performance as it powers U.S


Fire Aboard Alaska Natural Gas Platform

The U.S. Coast Guard launched several assets in response to a report of a fire on board a natural gas drill platform in Cook Inlet Thursday. The Coast Guard diverted a Coast Guard Hercules HC-130 crew and an MH-60 Jayhawk helicopter crew to conduct an overflight of the Baker Platform in Cook


Odyssey Marine Implements Management Changes

Mark D. Gordon

President Mark D. Gordon appointed CEO, Greg Stemm becomes chairman as the company prepares for several monetization events and shipwreck projects Odyssey Marine Exploration, Inc., an in the field of deep-ocean exploration, has implemented its planned management transitions that were announced


North P&I Club Advises Inclusion of Ebola-Specific Clauses

Charterparties Should Include Ebola Specific Clauses

  The 180 million GT, ‘A' rated North P&I Club is advising shipowner Members to take great care to protect the health of their crew members when calling at ebola-affected ports in west Africa. In the latest issue of its loss prevention newsletter Signals


U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive, data showed on Friday. The number of rigs drilling for oil fell by 13 to 1,582 in the latest week






 
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