Marine link
 

Hercules Offshore

Hercules Offshore Expects to Emerge from Bankruptcy in Q4

Photo: Hercules Offshore

Rig provider Hercules Offshore Inc said on Thursday that it expects to file for Chapter 11 protection next month and emerge with a restructured balance sheet in the fourth quarter.   The company said last month that it had entered into a restructuring agreement with a majority of its debtors and would file for Chapter 11 protection by July 8.   Hercules shares were down 5.8 percent at 15.35 cents on Thursday afternoon.     (Reporting by Sneha Banerjee and Narottam Medhora; Editing by Savio D'Souza)


Keppel Delivers First Super A-class Rig

FELS Super A-class Rig: Image courtesy of Keppel

Keppel FELS delivers the harsh environment rig to Discovery Offshore, which is managed by Hercules Offshore. Named Discovery Triumph at the delivery ceremony, the first KFELS Super A Class jackup has been delivered 46 days ahead of schedule and with a perfect safety record. The ultra high-specification jackup rig has been designed for the harsh environmental conditions of the North Sea (UK Sector). Its enhanced leg design incorporates Keppel's proven and reliable high capacity rack and


Hercules Offshore to Begin Restructuring

Image: Hercules Offshore Inc.

 The Houston-based NASDAQ-listed drilling contractor Hercules Offshore Inc. (HERO) has entered a restructuring agreement with a noteholder group, and expects a prepackaged reorganization plan.   HERO says the agreement will convert $1.2B of debt to new common equity, and noteholders will backstop $450M of new debt financing to fully fund the remaining construction cost of the Hercules Highlander and provide additional liquidity to fund the company's operations.  


New Firm Acquires Hercules Offshore Domestic Liftboats

All Coast, LLC, a newly formed company for the marine services industry founded by John Powers and John Nesser III, has completed the acquisition of Hercules Offshore’s domestic liftboat assets. This $57.5 million acquisition includes 29 actively marketed liftboats ranging from class 105 to class 229, 10 inactive liftboats and additional related assets. Powers and Nesser, All Coast managers and co-chief executive officers, each have more than 40 years of experience in the oil and gas


Asian Lift Adds Fifth Sheerlegs

Asian Lift. Photo by Keppel Offshore & Marine

 Asian Lift, a joint venture between Keppel Offshore & Marine (Keppel O&M) and Smit Singapore, a member of the Boskalis group of companies, celebrates the naming of Asian Hercules III, which is the largest and most versatile heavy-lift sheerlegs of its kind in the world.    The self-propelled floating sheerlegs can perform single lifts of up to 5,000 tonnes and carry out tandem lifts exceeding 5,000 tonnes with multiple cranes.  


Taylor to Chair NOIA Board

CindyTaylor

  The National Ocean Industries Association (NOIA) Board of Directors has elected Cindy B. Taylor as Chair and Kevin McEvoy as Vice Chairman for the upcoming 2015-2016 term. Taylor and McEvoy assumed their positions at the NOIA Annual Meeting today in Washington, DC.   Since 2007, Cindy has served as President and Chief Executive Officer of Oil States International, Inc., a publicly traded diversified oilfield services company headquartered in Houston


Propulsion Systems Ordered for Qatar Coastguard Vessels

Image: Rolls-Royce

Rolls-Royce waterjets and MTU diesels to power 17 new patrol boats for the Qatar Coastguard   Rolls-Royce has secured a £15.8 million contract to supply Rolls-Royce MTU high-speed engines and a suite of waterjet propulsion systems for the the Qatar Coastguard’s 17 fast patrol vessels under construction at Turkey’s ARES Shipyard. The scope of supply for Rolls-Royce Includes a total of 46 engines and waterjets, across three different sizes of craft


USCG Rescues Mariner from Boat Near Maui

Coast Guard Station Maui at Māʻalaea,

  A man is safe after being rescued from a disabled boat approximately 46 miles southwest of Kahoolawe, Maui, Saturday. At 10:15 a.m., watchstanders at the Coast Guard Sector Honolulu command center received notification from a friend of the vessel’s operator reporting that the 19-foot boat was disabled. The mariner contacted his friend using a cell phone. An approximate position was determined using information form the cell phone call.


Global Awarded PEMEX Contract

Global Industries, Ltd. said that subsidiary Global Offshore Mexico S. de R.L. de C.V. received a letter of intent from PEMEX Exploration & Production to install three 20-inch diameter pipelines and nine 12-inch diameter pipelines as part of the EPC-77 Project in the Cantarell Field. The field is located in Mexico's Bay of Campeche. The Project is valued at approximately $100 million and scheduled to be completed by the end of the first quarter 2005.


102 Year-Old Steam Tug in Alameda Dry-Dock

Photo courtesy Wes Starratt

The 102-year old steam-powered, ocean-going tug, Hercules, is in dry-dock at Bay Ship & Yacht Co.’s Alameda yard for maintenance and repair work. Earlier this month she was towed across the bay from her berth at the Hyde Street Pier of the San Francisco Maritime National Historic Park, operated by the National Park Service.  She will be in dry-dock at BS&Y for about a month for sandblasting and painting the riveted steel hull, replacing the boat deck


Chemical Tanker Runs Aground off Alaska

A 599-foot Norway flagged chemical tanker Champion Ebony ran aground near Nunivak Island, Alaska on June 24.   U.S. Coast Guard Sector Anchorage watchstanders received a report from the National Response Center that the vessel ran aground carrying approximately 14


Hercules Offshore Filing for Bankruptcy Again

(Photo: Hercules Offshore)

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection. The company said it had entered into a restructuring support agreement with some lenders


Postal Stamp Celebrates Maritime History

©2016 USPS

The U.S. Postal Service has previewed a new stamp highlighting California’s San Francisco Maritime Historical Park with a photograph of an iconic three-masted sailing ship. The stamp is the 14th of 16 new Forever Stamps to be revealed over a three-week period to celebrate the National


SharpEye Radar for Qatari Coastguard Patrol Boats

Image: Kelvin Hughes

Kelvin Hughes is to supply its SharpEye S-band radar together with its new 12kW radar for 17 patrol boats currently being built at ARES Shipyard, Turkey for Qatar’s Coast and Borders Security Department.   All the electronic equipment for the vessels - which include 24m, 34


42 People Rescued after Abandoning Ship off Hawaii

An aircrew from Air Station Barbers Point dropped a dewatering pump and supplies to 42 people who abandoned ship after their fishing vessel caught fire 1,800 miles south of Hawaii. The Hercules crew worked with Fong Seong 888, a Tuvalu-flagged oil tanker, to rescue the crew of the fishing vessel American Eagle. (Screenshot from USCG video courtesy of Air Station Barbers Point)

Forty-two people are safe after abandoning ship approximately 1,800 miles south of the Hawaiian Islands, Thursday, the U.S. Coast Guard reported.   Crewmembers successfully dewatered fishing vessel American Eagle using equipment dropped by an HC-130 Hercules airplane crew from Air Station


Fisherman Medevaced off Cape May, NJ

A helicopter crew from Coast Guard Air Station Atlantic City, N.J., medevacs a fisherman Thursday, Jan. 28, 2016, 75 miles southeast of Cape May. The 43-year-old man was fishing with three other people aboard Photo USCG

The Coast Guard medevaced a fisherman 75 miles southeast of Cape May, New Jersey, Thursday. The 43-year-old man was fishing with three other people aboard the 80-foot fishing boat Starbrite when he started experiencing difficulty breathing and numbness of his extremities.


3 Divers Rescued near Penguin Bank, Molokai

Rescued Divers Photo USCG

The Coast Guard rescued three missing divers near Penguin Bank, Molokai, Monday. "The Coast Guard advises all divers to have a dive buoy, signaling device, and reflective equipment,” said Lt. Kevin Edes, command center chief at Sector Honolulu


DOF Awarded IMR, Subsea Installation Work

Photo: DOF Group

DOF and DOF Subsea have been awarded several IMR and subsea installation contracts in the Asia Pacific and Atlantic regions, with a total contract value of approximately NOK 270 million (about $23.8 million USD). The contracts will secure utilization of the subsea project fleet in the regions.


Search On For Missing Sailboat in Gulf of Mexico

USCG HC-130 Hercules airplane

  The Coast Guard is searching for an overdue boater near Main Pass in the Gulf of Mexico, Monday. Missing is Keith Carver, 61, of Tucson, Az. Carver's girlfriend notified watchstanders at Coast Guard Sector Corpus Christi that his 38-foot sailboat, the Carpe Noctem, was overdue on Nov


Statoil Green Lights Floating Wind Farm Project

Hywind Scotland illustration (Image: Statoil)

Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind


Fishing Crew Rescued After Engine Fire

A crew of 36 fishermen was rescued Sunday from a Papua New Guinean ship after an engine fire left the fishing vessel disabled roughly 200 miles off Tokelau, a territory of New Zealand in the South Pacific.   The rescue was coordinated by the Rescue Coordination Centre New Zealand (RCCNZ)


US Coast Guard Medevacs Injured Fisherman

A 46-year-old man is receiving treatment in Oahu after being medevaced from Midway Atoll, Saturday, the U.S. Coast Guard reported.   A Coast Guard airplane crew flew more than 1,300 miles from Oahu to Midway to medevac the injured crewmember after watchstanders at the Coast Guard Joint


Injured Fisherman Medevaced from Midway Atoll

HC-130 Hercules airplane of USCG

  A 46-year-old man is receiving treatment in Oahu after being medevaced from Midway Atoll, Saturday. The Hercules crew flew more than 1,300 miles from Oahu to Midway to complete the medevac. Watchstanders at the Coast Guard Joint Rescue Command Center Honolulu received a medevac


Search for Containership Crewman Suspended

The search for a crew member missing from a containership between Bayonne, N.J. and Ocean City, Md. was suspended, the U.S. Coast Guard reported.   The crew member was last reported aboard the 600-foot, Marshall Islands flagged freight ship Ibrahim Dede after departing Bayonne


USCG Rescues 5 Near Kiribati

FIVE RESCUED AFTER BEING STRANDED AT SEA FOR FOUR DAYS NEAR KIRIBATI

  Five men are safe, Saturday, after being after being stranded at sea in a 14-foot skiff since Wednesday. The men were rescued by the crew of the motor vessel, Shourong Harmony after an HC-130 Hercules air crew from Coast Guard Air Station Barbers Point spotted the 14-foot aluminum skiff






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright