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MCDERMOTT

Independent Committee to Consider Merger Proposal

J. Ray McDermott, S.A. announced a proposal was made by the Board of Directors of McDermott International, Inc., to the Independent Committee of J. Ray McDermott's Board of Directors. Under the proposal, McDermott International would acquire all the publicly held shares of JRM. The proposal calls for a merger in which each publicly held share of J. Ray McDermott would be converted into 1.15 shares of McDermott International, Inc. common stock. McDermott International currently owns 63 percent of the common stock of JRM. The Independent Committee of J. Ray McDermott's Board will take the proposal of a merger with McDermott International, Inc. under consideration.


McDermott International Terminates Proposal

The Finance Committee of the Board of Directors of McDermott International, Inc. has terminated discussions with the Independent Committee of the Board of Directors of its majority-owned subsidiary, J. Ray McDermott S.A., concerning the possible acquisition by McDermott International of the publicly held shares of J. Ray McDermott. The committee said the discussions were terminated because the parties were unable to reach an acceptable financial agreement


J. Ray Morgan City Facility Awarded Contract

J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. ("McDermott"), announced that its Morgan City, Louisiana fabrication facility has been awarded a contract for the construction of flues, ducts and reactor panels by The Babcock & Wilcox Company ("B&W"), also a McDermott subsidiary. The contract is in support of B&W's Kansas City Power & Light LaCygne #1 SCR project and is valued at approximately $4 million


J. Ray McDermott Awarded Contract

According to reports, J. Ray McDermott Eastern Hemisphere Ltd. (J. Ray), a subsidiary of J. Ray McDermott, S.A., was awarded a contract by ExxonMobil Middle East Gas Marketing Ltd. to provide engineering, procurement, construction and installation (EPCI) services for two wellhead platforms and pipelines, as part of the Al Khaleej Gas (AKG) Development Phase 2 Offshore Expansion Project.


McDermott in JV with China Shipbuilding

McDermott International Inc said that a subsidiary of group company J Ray McDermott has set up a joint venture with a unit of state-owned China Shipbuilding Industry Corp. The joint venture - Qingdao McDermott Wuchuan Offshore Engineering Co Ltd - plans to establish a facility in Qingdao, in eastern China's Shandong province. The new company plans to focus on the construction of floating production, storage and off-loading (FPSO) vessels, US-listed McDermott said in a statement


McDermott Awarded Anadarko GoM Contract

Derrick Barge 50: Photo courtesy of McDermott

McDermott International, Inc. says that one of its subsidiaries has entered into an agreement with Anadarko Petroleum Corporation to provide construction and decommissioning support services employing Derrick Barge 50 (“DB50”) on the Red Hawk project, located in Garden Banks 876. The DB50 will remove mooring lines for the Red Hawk spar and provide accommodation and decommissioning support services. Mobilization is expected during the third quarter 2014.


J.Ray McDermott Begins Construction on Casino Barges

The Houston Business Journal has reported that J. Ray McDermott Inc has begun construction on two specialty barges for Harrah's Entertainment Inc. The two casino barges currently under construction will become part of Harrah's Horseshoe Casino expansion project in Hammond, Ind. Each measures 276 feet long by 102 feet wide and 22 feet deep, with a weight of about 1,700 tons. They will be combined with four other barges being built elsewhere to create a 564-foot long


J. Ray Awarded Malaysia Pipeline Contract

J. Ray McDermott, S.A. announced that its Malaysian affiliate Barmada McDermott Sdn. Bhd. (BMD) has won a fast track transportation and installation contract from ExxonMobil Exploration and Production Malaysia Inc. for the 2.4km, 12 inch full well stream (FWS) replacement pipeline between Guntong-C and Guntong-A, off the east coast of Peninsular Malaysia. The existing Guntong-C riser and a section of the existing pipeline will be replaced with a 2


McDermott Yard in Mexico Now a Free Trade Zone

The McDermott Altamira yard on the Gulf of Mexico coast is the first fabrication facility licensed to operate as a free trade zone in Mexico. (Photo copyright McDermott International, Inc.)

The Central Administration of Customs in Mexico has authorized McDermott International, Inc. to operate its Altamira fabrication facility near Tampico, Mexico as a free trade zone.    Located on the Gulf of Mexico coast and serving both PEMEX domestic requirements and export work for international clients, Altamira is now the first fabrication facility licensed to operate as a free trade zone in Mexico.  


McDermott, L&T Enter Agreement for India Deepwater Market

mcd logo.jpg

McDermott International, Inc. (NYSE: MDR) signed a long-term exclusive agreement with L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, focused on subsea projects offshore the east coast of India. “This exclusive agreement further strengthens the relationship between McDermott and LTHE, both companies that have successfully cooperated on several earlier projects in India and, more recently, won the Vashishta deepwater development project


Subsea 7 to Exit Singapore for Kuala Lumpur

Photo: Subsea 7

 Rising costs of doing business in Singapore has forced Subsea7 to switch its regional headquarters from the city to Kuala Lumpur (KL), says a report in Business Times.   Against a backdrop of persistently low oil prices, fresh concerns have emerged over Singapore's competitiveness as


McDermott Names Flagship Pipelayer in Singapore

The DLV 2000 pipelay vessel under way during sea trials off Singapore in April 2016. (Photo: McDermott)

McDermott International, Inc. formally named its flagship Derrick Lay Vessel 2000 (DLV 2000) during a ceremony at the Keppel Singmarine Shipyard in Singapore.   Brenda Cuthbertson, wife of 38-year McDermott employee and Asia Area Vice President Hugh Cuthbertson


This Day In Naval History: May 3

Overhead view of the Nimitz-class (US Navy photo)

1777 - During the American Revolution, the Continental lugger Surprise, led by Capt. Gustavus conyngham, captures the British mail packet Prince of Orange and the brig Joseph in the North Sea. 1898 - During the Spanish-American War, U.S. Marines from cruisers Baltimore and Raleigh (C 8)


McDermott Wins Contract in Arabian Gulf

Image: McDermott International Inc

 McDermott International Inc. received three separate engineering, procurement, construction, and installation (EPCI) projects in multiple Arabian Gulf fields.   The EPCI contracts were given by a major national oil company;  In addition to this


McDermott Awarded Megalodon Platform Installation

Photo: McDermott

McDermott International, Inc. announced today that one of its subsidiaries was awarded a contract to provide transportation and installation services to Walter Oil & Gas Corporation for the Megalodon platform destined for South Timbalier Block 311 in the Gulf of Mexico


McDermott Wins Fast-track Build Contract in Indonesia

McDermott Batam Island Yard

McDermott International, Inc. announced today that one of its subsidiaries has been awarded a fast-track fabrication contract by PC Ketapang II Ltd., a subsidiary of PETRONAS for the BTJT-A Jacket as part of the Bukit Tua Development Project in the Ketapang block of East Java, Indonesia


New Versatile McDermott CSV Christened

CSV 108: Photo McDermott

McDermott International, Inc. informs of the christening of its new Construction Support Vessel 108 (“CSV 108”) at Metalships & Docks shipyard in Vigo, Spain. The shipyard hosted a naming ceremony attended by Tony Duncan, Executive Vice President


McDermott Engineers Created the World’s Largest Specialty Valves

Wojciech Zmudzinski, Chief Pipeline Engineer for McDermott (right) with an INPEX Ichthys Project representative during a valve manufacturing inspection at a factory in Italy.

 After nearly two years of planning and development McDermott's team has achieved a first of a kind in the valve industry; creating the world’s largest forged body specialty valve, in collaboration with a valve manufacturer. The valves are destined for the INPEX-operated Ichthys LNG


Ocean Installer Enters Australian O&G Market

Normand Vision & Normand Mermaid.

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence in another promising region in line with Ocean Installer’s growth strategy


McDermott Installs Mooring Tower off Indonesia

McDermott Successfully Completes Transportation and Installation of Banyu Urip Single Point Mooring Tower, Offshore Indonesia

McDermott International, Inc. has successfully concluded the transportation and installation of a Yoke-type Single Point Mooring tower and hook up to a Floating Storage Offloading (“FSO”) vessel for PT Rekayasa Industri offshore Indonesia in the Banyu Urip field


McDermott Wins PEMEX Installation Contract

The jacket loaded onboard the Intermac 600 transportation and launch barge, ready for installation at Ayatsil-A. (Copyright McDermott International)

McDermott International, Inc. has been awarded a contract to install the offshore jacket, deck and piles for the Ayatsil-A drilling platform for PEMEX Exploracion y Produccion in the Bay of Campeche Ayatsil field. The value of the award is included in McDermott’s fourth quarter backlog.


McDermott Completes Pemex Compression Module

McDermott’s China Joint Venture fabricates process module for fast-track delivery to Mexico_HR

McDermott International, Inc. announced today that one of its joint venture companies, Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd. (“QMW”), recently completed a fast-track compression process module fabrication subcontract for Jord Oil & Gas Systems B.V


NY Maritime Law Firm Cited as a Top Practice

Daniel G. McDermott

The Maritime Litigation Practice Group in the New York City office of Marshall Dennehey Warner Coleman & Goggin, has been recognized among the top national maritime practices by Chambers USA: America's Leading Lawyers for Business.  


Fugro Extends Contract with McDermott

Fugro logo

  Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning, remotely operated vehicle (ROV) and diving services in the United Arab Emirates, Qatar, India and Saudi Arabia


Danos Appoints 3 to Sr. Positions

(Clockwise from top left) John Danos, Marc Distefano and Jack Roszelle Photos Danos

  Danos announces the hiring of Marc Distefano, John Danos and Jack Roszelle to leadership positions with the company.   “We welcome Marc, John and Jack to the Danos team,” said CEO and President Hank Danos. “Their expertise and experience will help us ensure we are






 
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