Parker Drilling Company reported unaudited revenue of $105 million and a net loss of $7.7 million or a $.10 loss per diluted share for the three months ended November 30, 1998. The prior year's results for the same quarter reflect total revenue of $109.9 million and net income of $10.7 million or $.14 per diluted share. "The industry continues to experience the effects of the most dramatic drop in energy prices since the 1980s," said Robert L. Parker Jr., president and CEO. "Parker's strategy is to curtail costs and concentrate our marketing efforts in areas showing greatest potential," he added.
An Italian subsidiary of a U.S.-based company has agreed to plead guilty and to pay a $2.29m criminal fine for participating in a conspiracy to rig bids, fix prices and allocate market shares of marine hose sold in the United States and elsewhere, the Department of Justice announced. A one-count felony charge was filed on Feb. 16 in U.S. District Court in Houston, against Parker ITR S.r.l., a manufacturer of marine hose, headquartered in Veniano, Italy
Shelby Frink, vice-president of operations support, retired from Parker Drilling Company after 43 years of service with the company. He began his career with Parker in 1956 as a roughneck working in Texas and New Mexico. He worked his way through the ranks of the company by holding several international field and management positions. In 1975, Frink assumed the role of Western Hemisphere operations manager and in 1978 moved to Easstern Hemisphere operations manager
The Spill Control Association of America (SCAA), a professional association representing oil spill removal organizations (OSRO), spill managers, qualified individuals, consultants, equipment and material manufacturers, distributors, insurers, and educational and governmental organizations, announced the appointment of three new SCAA Directors and the renewal of a fourth Director for another two-year term. The appointments were announced at the Annual Meeting on March 8 in Alexandria
A Coast Guardsman and a Gulfport Fire Department paramedic aboard a Coast Guard helicopter tend to an injured worker from the jack-up rig Parker 14 J that collapsed off the Mississippi-Louisiana coast yesterday. (U.S. Coast Guard photo). The 41 people aboard an offshore drilling rig that collapsed off the Mississippi-Louisiana coast yesterday afternoon have been rescued. Eight people were injured in the accident and were taken by New Orleans-based Coast Guard helicopters to
Mercy Ships pauses during National Volunteer Week (April 21-27, 2013) to salute its volunteer crew on behalf of the more than 2.42 million direct beneficiaries. These beneficiearies have received curative surgical interventions, health care training, dental procedures and community development projects in more than 70 countries. As Scott Pelley of CBS 60 Minutes recently said, “Spend a few days as we did aboard the Africa Mercy
White Water Marine, of Sayville, N.Y., has been named the nation's newest dealer for Osprey Boat Company. The Silvana, Wash. builder selected White Water to represent them exclusively in New York. That decision was based on White Water's outstanding reputation and extensive experience with pilothouse-style boats, including Albin and Parker. Osprey builds boats from 21 to 29 ft. The Fisherman series, available in 22, 24 and 26 ft. lengths all share the same 8.5 ft
Metropolitan Stevedore, west coast stevedore and terminal operating company, has restructured with several promotions. Albert J. Garnier was appointed vice president in charge of the company's operations; Timothy J. Parker was elected vice president overseeing business development; and Albert B. Roach was named vice president overseeing equipment, labor relations and special projects. Promoted to the position of assistant vice president are Leonard W
VT Group has finalized its shipbuilding joint venture with BAE Systems. Under the agreement -- the terms of which are substantially unchanged from those set out in the framework agreement in July 2007 -- the BVT Surface Fleet Ltd joint venture will be owned 45 percent by VT and 55 percent by BAE Systems. The joint venture, under which VT has an option to sell its stake to BAE for at least $745 million, is key to VT's attempts to focus entirely on support services
The Subsea Solutions Alliance between three underwater service companies – Miami Diver LLC, Parker Diving Service and Trident BV – formed one corporate entity, Subsea Global Solutions. The company performs complex underwater ship repair for major ship equipment Manufacturers, commercial marine, cruise and offshore oil and gas vessel operators. Rick Shilling, Chief Operating Officer, for Subsea Global Solutions said “We continue to expand our global presence
The US Coast Guard inform that search and rescue personnel at the District Seven Command Center in Miami are coordinating fire-fighting efforts on a towed 730-foot barge loaded with containers on fire about 86-miles northeast of Nassau, Bahamas.
United States Ship (USS) Michael Murphy arrived today alongside Pearl Harbor, Hawaii, with 19 family members and civilian contractors transferred off Her Majesty’s Canadian Ship (HMCS) Protecteur, five days after a fire onboard, informs Canada's Department of National Defence.
Raytheon Company says it is to provide the U.S. Navy with AN/AQS-20A minehunting sonar systems and equipment. The system leverages advanced sonar technologies to support the Navy's critical minehunting missions, ensuring safe access and passage for military and civilian vessels on the world's
The Port of Pittsburgh Commission seeks local companies and individuals to participate in its Wireless Waterway (WW) Interoperability Test Bed (ITB) the week of June 15, 2014. The commission is accepting applications through April 1, 2014 from interested entrepreneurs
Acteon company InterMoor completed decommissioning operations of the Innovator platform in the Gulf of Mexico’s Gomez field, Mississippi Canyon Block 711. Conducted in water depths of 910 meters, the scope of work involved disconnecting 10 risers/umbilicals; disconnecting 12 mooring lines
In the May 2013 issue of Maritime Reporter & Engineering News, Dennis Bryant published a provocative article titled Rebuilding the Presumption of Preemption. Pointing to recent examples of state overreach in the maritime field like California’s ocean-going vessel fuel standard that
Designers, Robert Allan, inform that Leevac Shipyards has completed the construction of the second of their Z-Tech designed 2400 tugs. The latest, 'Zeus', has been delivered to its owners Suderman & Young Towing Company of Houston, Texas following the earlier delivery of her sister
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:
Parker Kittiwake, the global provider of asset control and protection technology, has announced a breakthrough in onboard cold corrosion testing with their new portable test kit. In less than five minutes per test, Parker Kittiwake’s Cold Corrosion Test Kit monitors specific levels of
What it may foretell about the coming towing vessel rule. In the May 2013 issue of Maritime Reporter & Engineering News, Dennis Bryant published a provocative article titled Rebuilding the Presumption of Preemption. Pointing to recent examples of state overreach in the maritime field like
“Aberdeen Harbor has a vital role to play in the future of Scotland’s oil and gas, renewable and decommissioning industries.” Plans by Aberdeen Harbor Board to create additional berthing facilities at Nigg Bay have received a double boost
Russian Maritime Register of Shipping (RS) under the cooperation with ОАО SOGAZ has carried out a risk safety appraisal of the submarine Ho Chi Minh for the Vietnamese Navy during its sea transit from the port of St Petersburg to the port of Kaliningrad.
Offshore energy services provider, Jaya Holdings Limited, has delivered its second newbuild ice class anchor handling tug supply vessel to Canadian buyers, Atlantic Towing Limited. The 16,000-BHP vessel was delivered on February 7, 2014 in Singapore and was christened the Atlantic Merlin at a
The Big River Coalition inform that the following transits restrictions have been established to allow traffic to pass during rock removal work operations at locations C-100 and C-101 (Thebes, IL). The restrictions may be changed based upon conditions
Peter Soles has joined The Glosten Associates as a Marine Consultant and will be supporting the firm’s ocean engineering and marine logistics projects. “Peter brings a broad knowledge of marine transportation policy, oceangoing vessel management and operation