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
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
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
The United States has extradited a former executive of an Italian marine hose manufacturer to face price-fixing charges in what the Justice Department said was its first extradition on antitrust charges. Romano Pisciotti, a former executive with Italy's Parker ITR SRL, was extradited from Germany and arrived in Miami on Thursday to face a single count of rigging bids and allocating market share in the marine hose industry, the department said.
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
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
601 Poydras Street, Suite 1500 New Orleans, Louisiana 70130 Telephone: 504 568 1010 E-mail: email@example.com Website: www.tdw.com Chairman and CEO: Jeff Platt Number of employees: 8,500 The Company: Tidewater is a leading provider of offshore service vessels to the global energy industry
M/V Paul R. Tregurtha freed by The Great Lakes Towing Company after laker ran aground in Duluth M/V Paul R. Tregurtha was refloated by The Great Lakes Towing Company Tugs Kentucky and Minnesota under the command of two Duluth veteran Towing Company Captains, Martin Lightner and George LaTour
The Great Lakes Towing Company completed an Intermodal Short Sea barge move utilizing the Port of Cleveland’s Rail Loop and the Port’s switching line, Cleveland Harbor Belt Railroad. Norfolk & Southern interchanged the rail car carrying the 114 metric ton transformer to
In the summer of this year, Signet Maritime took delivery of Signet Arcturus & Signet Polaris, the eighth and ninth tugs designed for them by Robert Allan Ltd. of Vancouver, Canada to add to its fleet of 37 conventional and ASD vessels. The tugs were constructed at Patti Marine Enterprises in
When German industrial manufacturing giant ZF bought Holland Rudder Propeller nearly five years ago, it was a strategic addition to its ZF Marine portfolio that is now reaping big rewards as it is enjoying strong penetration of its azimuth thruster systems in the U.S. towboat market
Trojan Marinex announced that Damen Shipyards have selected the Trojan Marinex Ballast Water Treatment (BWT) system for a fleet of Platform Supply Vessels (PSVs) it is building for Atlantic Towing Limited – a Canadian-owned marine transportation company.
124 Dry Dock Road Bourg, Louisiana 70343 E-mail: firstname.lastname@example.org Website: lebeouftowing.com CEO: Richard “Dickie” Gonsoulin President: Jon Gonsoulin Number of Employees: 250 The Company: LeBeouf Bros. Towing, LLC is one of the oldest marine towing companies operating
A fisherman was rescued by the United States Coast Guard (USCG) after his 40-foot fishing vessel became caught in the surf on the Chatham Bar in Chatham, Massachusetts, Wednesday. USCG Watchstanders at Sector Southeast New England received a notification from a good Samaritan informing
The State University of New York Maritime College's Department of Professional Education and Training will host its 15th annual Towing Industry Forum Wednesday, October 15, 2014. The event’s itinerary is as follows: 0830–0900 Sign-in and continental breakfast
The innovative KO-LINK towing ring, developed by international maritime service provider KOTUG International BV, is now available exclusively from leading maritime ropes supplier, Lankhorst Ropes, under a worldwide marketing agreement
Late last month, NASSCO engineers placed the world’s first dual-fuel slow speed engine into the World’s First Liquefied Natural Gas (LNG) powered containership. The ME-GI engine represents the next generation of technology that will open the door to a cleaner and safer shipping
The KO-LINK towing ring, developed by international maritime service provider KOTUG International BV, is now available exclusively from maritime ropes supplier Lankhorst Ropes under a worldwide marketing agreement. The KO-LINK ring significantly increases synthetic towing line service life by
Dann Marine Towing, LC., is a fifth generation family owned and operated tugboat company based in Chesapeake City, MD. The model-bow twin-screw tug Sea Coast was built at Rayco Shipbuilders in 1980 and is one of Dann Marine’s 18-tug fleet. She is 65 feet overall with a 24-foot beam and an 8
The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around the world to focus on how companies can improve their chances of settling commercial disputes through direct negotiation
McAllister Towing hosted a dual celebration in New York City on Friday, September 19, a gala in honor of the company’s 150th anniversary and a traditional christening of the Buckley McAllister, the latest high tech tractor tug added to the company’s fleet.