R&B Falcon Corporation reported a loss from continuing operations of $22.4 million for the three months ended September 30, 1999, compared with a loss from continuing operations of $28.2 million for the three months ended September 30, 1998. The loss for the quarter is directly attributable to reduced demand for drilling services, particularly in the shallow and inland water segments. Average fleet utilization for the third quarter of 1999 was 39 percent compared to 64 percent for the same quarter in the preceding year. For the nine months ended September 30, 1999 average fleet utilization was 40 percent compared to 77 percent for the same period in 1998. Revenues were $29.3 million lower in the third quarter of 1999 compared to the same quarter in the preceding year despite contributions of $62 million from Cliffs Drilling Company which was acquired in December, 1998. Revenue decreases were primarily related to the shallow water and inland water segments and resulted from lower dayrates and rig utilization. Operating expenses were $56.4 million lower in the current quarter than in the same quarter of the prior year. Excluding $57.4 million of third quarter operating expenses attributable to Cliffs Drilling Company, operating expenses were $113.8 million lower in the third quarter of 1999 compared to the same quarter of the prior year and reflects cost reductions, lower rig utilization and the cold stacking of some units
Bollinger Fourchon, LLC, a subsidiary of Bollinger Shipyards, demonstrated its ability to modify or repair offshore jack-up drilling rigs quickly and cost effectively, with three recently completed projects. One project, for R&B Falcon Drilling, Inc., involved the replacement of jet piping (which blows away sand and mud around the rig legs for easier movement) and the fabrication and erection of an interior bulkhead on the Cliffs 150 rig in just eight days.
To those not familiar with the New York metropolitan area — the eastern end of Long Island is demographically multi-faceted. Traveling east on the Long Island Expressway, (the Island' main thoroughfare), the 118-mile long island, splits into two "forks," the North and the South. With the hamlets of Greenport and Orient Point situated on the easternmost points of the island on the north, the South Fork boasts the tony Hampton villages and the historical village of Montauk Point — literally the
Multiple news sources have reported that Greek court has convicted nine officers and shipping company officials of negligence in the sinking of a cruise ship off the resort island of Santorini more than six years ago. Sea Diamond, a Louis Hellenic cruise vessel, was carrying roughly 1,600 people when it hit rocks off Santorini’s cliffs and sank in April 2007. Two French passengers were never found and are presumed drowned.
With the arrival of calmer springtime weather, Titan Salvage has resumed wreck removal operations in Gibraltar on the New Flame following a busy first quarter in which the company responded to eight salvage opportunities. Among them were the re-floating of the bulk carrier Fedra's forward section in Gibraltar, the re-floating of a general cargo vessel grounded on environmentally-sensitive coral reefs of southern Belize; and the safe delivery of a tank ship involved in a collision and fire off
J. Ray McDermott, Inc., a subsidiary of McDermott International, Inc., and Bay Ltd. have formed a strategic alliance to pursue fabrication projects in the offshore oil and gas industry, using McDermott's Harbor Island facility near Corpus Christi, Texas. Under the alliance, J. Ray McDermott will provide overall project management, engineering and procurement services, as well as the assembly areas, lifting equipment dredged slip and bulkhead at Harbor Island.
M/Y Ronin, the 192 ft. Lurssen owned by Oracle Corporation founder/CEO Larry Ellison, has arrived at Knight & Carver Yacht Center and is now undergoing a refit project scheduled for completion by August 2005. According to Captain Steven Bates, the project's emphasis will be on extensive audio/visual and IT upgrades, cabinet carpentry throughout all state rooms, re-caulking of the teak decks and hull paintwork. A full-time crew of Knight & Carver's tradesmen has been assigned to Ronin
NRF Calls on President Obama to Immediately Intervene to Prevent Port Strike. The National Retail Federation has issued the following statement from NRF Vice President for Supply Chain and Customs Policy Jonathan Gold on the breakdown of contract negotiations between the International Longshoremen’s Association and the United States Maritime Alliance, Ltd.: “It is extremely disheartening to learn that the two sides failed to reach an agreement during today’s
12 Graduate from GSSC Shipfitter Boot Camp and Have Jobs Waiting for Them. In November 2011, 18 individuals started an intensive 10-week shipfitter boot camp that was developed by the Gulf States Shipbuilders Consortium (GSSC) to prepare workers for entry-level employment in the maritime industry. Before an invitation was extended to participate in the training program, candidates completed prequalification activities that included drug testing, WorkKeys® assessments
An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil
Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with
Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues. ThomsonReuters I/B/E/S had forecast earnings of 70 cents a share or 82 cents a share excluding special items.
The U.S. Coast Guard (USCG) is overseeing response efforts, as the offshore drilling rig ENSCO 8506 began taking sea-water into a ballast tank after being hit by a large wave in heavy seas more than 100 miles south of Galveston. The ballast tank is located in one of the rig's column ballast
China's navy on Tuesday denied, in a roundabout way, that it snubbed Japan by not inviting it to join in a naval fleet review as part of an international symposium, saying the two events had never been linked in the first place. U.S. officials have said the United States was invited to join the
In a letter to shareholders chairman, Ian C. Strachan and Steven L. Newman, president and CEO, set out a summary of offshore drilling specialist Transocean's 2013 operations, excerpted as follows: • Revenue and Backlog Full year 2013 net income attributable to controlling interest was $1
Drydocks World, an international service provider to the maritime, oil and gas and energy sectors, announced it has signed an Agreement with Malta Oil & Gas Ltd. for building two unique new jack-up drilling rigs based on Gusto MSC CJ54-X135-A design
Another U.S. warship will come to the Black Sea after destroyer USS Donald Cook will leave, Romanian president Traian Basescu told reporters in the Black Sea port of Constanta on Monday. Donald Cook arrived in the Black Sea last week for exercises and operations to improve interoperability
U.S. exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published on Thursday. Proved reserves of crude stood at 30.5 billion barrels at the start of 2013.
French explorer GDF Suez drilled a dry well in the Arctic Barents Sea about 65 kilometers southwest of the Johan Castberg fields, the Norwegian Petroleum Directorate said on Thursday. GDF holds 60 percent of the license, while Concedo and OMV each hold 20 percent.
Alaska's North Slope oil production is forecast to decline 1.8 percent for the fiscal year ending June 30 instead of falling 3 percent as predicted in December, according to a report released this week. The Alaska Department of Revenue predicts production of 521
South Sudan has awarded provisional licences to two companies for mineral exploration as it attempts to diversify the economy away from oil, a government official told Reuters on Tuesday. South Sudan is rich in gold and also probably has reserves of other minerals such as copper
U.K.-based engineering group Houlder has launched a new venture to support clients headquartered in the United States following an increasing number of successful global projects for oil majors, operators and service providers. Houlder Americas Inc
Rolls-Royce and U.K. Chancellor George Osborne announced today that the Group will further invest in Rio de Janeiro State to better support customers in the rapidly expanding offshore oil and gas industry. A new £22 million marine facility in Duque de Caxias will be used to assemble and test
At 7:25 a.m. on April 7, Statoil and its partners (GDF SUEZ and OMV) started production on the Gudrun oil and gas field in the North Sea. "Gudrun is the first new Statoil-operated platform to come on stream on the Norwegian continental shelf since 2005
Sweden's Rederi AB TransAtlantic owners of the offshore drilling vessel 'Tor Viking' inform that the charter agreement for “Tor Viking” for the 2014 and 2015 seasons has been cancelled but the contract is still valid for the remainder of its period covering 2016 & 2017