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DIAMOND OFFSHORE SERVICES

Diamond Offshore 2Q Earnings Fall

Diamond Offshore Drilling Inc., the world's largest offshore oil driller by market capitalization, reported its second quarter earnings fell more than 50 percent. Net income dropped to $53.2 million from $111.7 million in the same period of 1998. Revenues for the second quarter fell to $215.3 million from $323.5 million in the second quarter of 1998. The company did not comment in its earnings statement on business during the second quarter or on the outlook for the remainder of the year.


Keppel FELS Awarded Contract

Keppel FELS Limited (KFELS) has earned a cash bonus and another contract from Diamond Offshore Drilling Inc. to upgrade the sister rig, Ocean Rover. The $60 million project on Ocean Baroness only took 17 months and was delivered well ahead of schedule and on budget as well. While work was still in progress in November 2001, the owner, Diamond Offshore was so satisfied with the job that they awarded KFELS with the contract on Ocean Rover.


World's Biggest Floating Diamond Processing Vessel Sets Sail

The world's biggest floating diamond processing vessel will set sail for the first time within three weeks and should be in position off Namibia before Christmas, the Namibian Minerals Corporation (NAMCO) said. "This is the biggest offshore diamond processing plant in the world," NAMCO chairman Alastair Holberton told reporters on a tour of the ship in Cape Town harbor. "We expect that in its first work up year in operation it will harvest 200,000 carats of diamonds worth about $30 million


Keppel FELS Delivers its Rig to Diamond Offshore

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M) has delivered its KFELS Super B Class jackup drilling rig to Diamond Offshore Drilling, Inc (Diamond Offshore). The Ocean Shield marks the 20th KFELS B Class drilling rig constructed by Keppel FELS since the launch of this design in 2000. It will also be the first of two KFELS B Class designed rigs commissioned by Diamond Offshore in 2005


Signal Delivers Two Rigs for Diamond Offshore

OceanAmerica_leavin_web.jpg

Signal International, L.L.P. announced the recent completion and return to service of two Diamond Offshore rigs, the Ocean Titan and the Ocean America. The LeTourneau Class 64 jackup, Ocean Titan, entered Signal’s East Pascagoula, Mississippi yard for modifications and repairs on 06 March 2009 and departed on 14 April 2009.  Meanwhile, another Diamond rig, the eight-column semisubmersible Ocean America, spent 97 days on Signal’s Dry Dock at Port Arthur


Fairmount Alpine Towed Rig Ocean Whittington to Gulf

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Fairmount Marine’s tug Fairmount Alpine has towed the rig Ocean Whittington from offshore Belem, Brazil, to offshore Galveston, US. For this job Fairmount Marine was contracted by the rigs owner, Diamond Offshore Drilling, for which Fairmount has performed a series of towages in recent years. Ocean Whittington is a semi submersible drilling rig for deep water operations. The rig has worked offshore the northern Brazilian coast since 2009


Four-ship Boost for Diamond 53

A Consortium led by the U.K.-based Graig Group and its China-based subsidiary have given a boost to the Diamond 53, a new, future-proof double-hull ultra-handymax bulk carrier design, by signing a letter of intent to build four vessels, with four options, at CSIC yards in China. Delivery of the first of a series of Diamond 53 type vessels is scheduled for 2004. "Double hull bulk carriers are the way forward," says Hugh Williams, CEO of Graig


Signal Awarded Diamond’s Ocean America

Signal International has been awarded a contract for Diamond Offshore’s Ocean America to perform modifications and inspections to ensure compliance with ABS Special Survey requirements. The semisubmersible will be drydocked at the company’s Port Arthur Texas yard in early 2009. The vessel will undergo inspections to the anchor chain and propeller shaft, piping modifications, sacrificial anode replacements as well as new paint for the hull and derrick.


New Damen PSV for World Wide Shipping

World Peridot (Photo: Damen)

Damen Shipyards Galati has handed over the second platform supply vessel in a series order heralding a new era in offshore construction for Damen Shipyards Group. World Peridot, built to Damen’s PSV 3300 design, has been delivered to World Wide Supply. Delivery comes just seven weeks after the handover of the first of class PSV 3300, World Diamond, and is part of a rolling six-ship handover schedule from Damen for WWS.


LR Class New Brazil-bound Damen PSV's

World Diamond: Photo courtesy of Lloyds Register

'World Diamond', the first of a series of six uniquely designed platform supply vessels (PSV), was christened recently by the ship’s godmother, Princess Margareta of Romania, at Damen Shipyards’ Galati in Romania. Each of these PSVs is classed by Lloyd’s Register and is of 3,300 dwt with a breadth of 16.2 metres and draught of 6.5 metres. The remaining five PSVs will be delivered to their owner, Norwegian offshore support company, World Wide Supply AS (WWS), later this year


Diamond Offshore Drilling's CDS Widen 47%

Image courtesy Diamond Offshore

Reuters - (The following statement was released by rating agency RPT-Fitch Solutions) Credit default swaps (CDS) on Diamond Offshore Drilling Inc. (Diamond) have widened 47% over the past month, according to Fitch Solutions. Diamond's CDS significantly underperformed the 3


Wilbur Ross-backed Diamond S Shipping drops IPO

Diamond S Shipping Group Inc's largest shareholder, Wilbur Ross, said the tanker company's initial public offering had been canceled because the suggested price was too low, Bloomberg reported, citing an email from the billionaire investor.


APM Slashes Out-of-Service Days

Diamond wire saw - Lo res (600x800).jpg

Removing a 132 metric ton engine from an 11 deck luxury cruise liner whilst it’s in-service may sound impossible, but that’s exactly what marine engineers Atlantic Pacific Marine (APM) did in February. The company teamed up with wire sawing experts Drillcut (UK) Ltd


Damen Completes PSV Order for World Wide Supply

World Sapphire (Photo: Damen)

The official christening of the World Sapphire marks the completion of a six-ship order whereby Damen Shipyards has delivered six Platform Supply Vessels (PSVs) to Norwegian company World Wide Supply (WWS) AS in just six months. The Damen PSV 3300 features a radical design rethink


Fourth Damen PSV Delivered to World Wide Supply

World Emerald at sea trial (Photo: Damen)

Damen Shipyards Group has recently delivered the fourth Platform Supply Vessel (PSV) in a series of six to World Wide Supply of Norway. World Emerald is a Damen PSV 3300 CD. The first ship, World Diamond, was delivered in July. The fifth PSV, World Opel


Fifth Damen PSV for World Wide Supply

Photo: Damen

Damen Shipyards Group is set to deliver the fifth Platform Supply Vessel in a series of six to World Wide Supply of Norway. World Opal is a Damen PSV 3300 CD. The first ship, World Diamond, was delivered in July and the last in the series World Sapphire is due to be delivered mid-December.


ClassNK and Rio Tinto Iron Ore Sign Collaborative Agreement

Right: Mr.Yasushi Nakamura (ClassNK), Left: Mr.Warwick Smith (Rio Tinto Iron Ore)

Classification society ClassNK and Rio Tinto Iron Ore (part of the Rio Tinto Group, one of the world’s largest metal and mining companies), announced that they have signed a collaborative agreement focused on the safe carriage of iron ore.


Diamond S. in CarVal Investment Fund Product Tankers Deal

Diamon S. Vessel: Photo courtesy of the owners

Diamond S Shipping Group inform they have acquired three modern medium-range clean product tankers from funds managed by CarVal Investors. In the transaction, a group of funds managed by CarVal became a significant investor in the Diamond S clean product tanker business, and Ranjit Ahluwalia


Diamonds—and Shipping—in Antarctica

Kimberlite deposits, igneous rock formations often containing diamonds, have been discovered in Antarctica, according to a report by Nature Communications. And though no diamonds have been discovered, researchers believe they are there, along with other valuable substances.


New British Warship Enters Service Early

HMS Duncan: Photo courtesy of MOD

HMS Duncan, the Royal Navy’s sixth Type 45 Destroyer, has entered into service from BAE four months ahead of schedule. The 7,500 tonne vessel will now embark on a program of trials to prepare the ship and her crew for operational deployment.


Damen PSV 3300: A Diamond in the Rough

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The platform supply vessel World Diamond was delivered by Damen Shipyards, Galati, on June 28, 2013, to World Wide Supply. The PSV was built to a completely new and distinctive design from Damen, and World Diamond is the first of six PSVs for the Norwegian owner


Fairweather LLC Names Davey GM

Lori Davey

Fairweather, LLC has announced the appointment of Lori Davey as the company’s new general manager. Davey will be responsible for directing all of Fairweather’s business activities and overseeing the company’s expansion and management of Deadhorse Aviation Center.


Diamond S Shipping Files for $100M IPO

Photo: Diamond S Shipping Group

IPO investment firm Renaissance Capital said that Diamond S Shipping Group, a provider of seaborne transportation of refined petroleum and is backed by WL Ross, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.


Diamond Offshore Drilling 2013 Profit Slips

Image courtesy of Diamond Offshore Drilling

In the company's financial report for the fourth quarter of 2103 Diamond Offshore Drilling announced that for the full year 2013 their net income of $549 million, or $3.95 per share, compared with net income of $720 million, or $5.18 per share, in 2012.  Revenues for the full year 2013 were $2


Teekay Offshore Buys Towage Firm, Orders New AHTS Vessels

AHTS in ALP Colours: Photo courtesy of Teekay Offshore

Teekay Offshore Partners say they have agreed to acquire ALP Maritime Services B.V. (ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry. Details as follows:


 
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