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Transocean Inc. Releases Update on Fleet Contract Status

Transocean Inc. (NYSE:RIG) announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of October 30, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com. Statements regarding the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects, other out of service time, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.


ISM Code Implementation - Phase II

Certain freight vessels and self-propelled mobile offshore drilling units (MODUs) to which the ISM Code does not currently apply will come within its ambit on 1 July 2002. The U.S. Coast Guard will require, commencing January 15, 2002, that such vessels include in their advance notice of arrival to the United States a statement regarding their status under the ISM Code. At the same time, the Coast Guard will commence a pre-enforcement campaign to verify ISM Code compliance and issue letters to


Transocean Awarded Contract

Transocean Inc. announced that a subsidiary of Eni has awarded an estimated six-month contract for the semisubmersible rig Transocean Legend for drilling operations offshore Indonesia. The contract is expected to commence in November 2006, following the completion of an existing contract commitment offshore Sakhalin Island. Revenues that could be generated over the estimated six-month contract period total an approximated $79 million, excluding revenues for mobilization


Sea Containers Being Investigated

The law firm of Finkelstein, Thompson & Loughran announces that a lawsuit seeking class action status has been filed in the United States District Court for Southern District of New York against Sea Containers Ltd. and certain of its officers and directors on behalf of purchasers of Sea Containers securities between March 15, 2004 and March 24, 2006, inclusive, Finkelstein, Thompson & Loughran is investigating similar claims at this time and welcomes inquiries from


Salazar Statement on Leasing Court Ruling

U.S. Department of the Interior Secretary Ken Salazar issued the following statement regarding the U.S. Court of Appeals for the District of Columbia Circuit ruling on DOI’s request for clarification of the Court’s earlier decision to vacate the 2007-2012 Outer Continental Shelf oil and natural gas leasing program:  “I am pleased with the Court’s decision.  Consistent with the Department’s request


Contractors, B&W, Comment on US Government Shutdown Effect

The Babcock & Wilcox Company has issued the following statement regarding the potential impact of the government shutdown: "B&W is closely monitoring the government shutdown and the effect it could have on our business results and operations. We do not expect any delays or impacts to the Babcock & Wilcox Nuclear Operations Group for the foreseeable future. Babcock & Wilcox Technical Services Group (B&W TSG) continues to follow direction from the U.S


EC Seeks to Establish Own Transportation Accident Review Panel

The EC intends to set up an Independent Group of Experts to advise the EC on a strategy for dealing with accidents in the transport sector. According to a press statement issued by the EC, the Group would conduct independent technical investigations geared toward revealing the causes of accidents and would be modeled on existing legislation regarding accidents in air transport.


Tug escort requirements for Port Hueneme

The California Office of Spill Prevention and Response (OSPR) issued a Notice of Proposed Rulemaking regarding the tank vessel escort requirements for Port Hueneme. The major purpose of the proposal is to make these regulations consistent with those for other California ports. No additional costs for the regulated community are anticipated, based on this proposal. OSPR also issued the Draft Amendment and the Initial Statement of Reasons


Royal Caribbean Issues Statement Regarding Millennium

Celebrity Cruises has been working in cooperation with Chantiers de l'Atlantique, the builder of its newest ship, Millennium, to evaluate the ship's performance. The ship is equipped with the cruise industry's first gas turbine engines, and testing has demonstrated that Millennium has unusually low levels of noise and vibration. However, testing also has shown that under certain unusual sea conditions a vibration could be felt within certain areas of the ship.


FMC Commissioner Doyle on P3 Final Decision

FMC Commissioner William P. Doyle

U.S. Federal Maritime Commissioner William P. Doyle issued the following statement regarding China’s decision on the proposed P3 Network: The People’s Republic of China has rejected the P3 Vessel Network Sharing Alliance based on the competition concerns in the Asia-Europe shipping market. The U.S. Federal Maritime Commission had the responsibility to review the P3 Parties’ submission for their vessel network sharing alliance on the Trans-Pacific and Trans-Atlantic trade


Aguirre Offshore GasPort Project Receives EIS from FERC

FERC Deems the Proposed Offshore LNG Facility to be Environmentally Sound

Excelerate Energy ("Excelerate"), in cooperation with the Puerto Rico Electric Power Authority ("PREPA"), has received the final Environmental Impact Statement ("EIS") from the Federal Energy Regulatory Commission ("FERC") for its Aguirre Offshore GasPort


Manila Ports Back at Optimum Utilization

Photo:  Philippine Ports Authority (PPA)

 Philippine Ports Authority (PPA) stated that utilization rate at the port of Manila is back to normal after the disruption of operations during the visit of Pope Francis to the country last month.   The state-run PPA said in a statement that container yard utilization and vessel


ThyssenKrupp Committed to Australian Submarine Process

thyssenkruppmarinesystems.jpg

Germany's ThyssenKrupp is determined to take part in a selection process it hopes will take place to build Australia's next-generation submarine fleet, it said on Monday. "ThyssenKrupp Marine Systems... is committed to take part in the competitive evaluation process for the design and


OSX Brasil CFO Steps Down, CEO to Take Role

OSX Brasil SA Chief Financial Officer Claudio Antônio da Silva Zuicker is stepping down, and Chief Executive Officer Vladimir Kundert Ranevsky will add the role of CFO, the troubled Brazilian shipbuilder said in a statement on Tuesday.  


BOEM Issues Supplemental Environmental Impact Statement

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The U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM), announces the availability of the Draft Supplemental Environmental Impact Statement (EIS) for proposed Central Planning Area (CPA) Lease Sales 241 and 247 and Eastern Planning Area (EPA) Lease Sale 226.  


INTERTANKO Welcomes EMSA Sulphur Inspection Guidance

Katharina Stanzel (Photo courtesy of INTERTANKO)

INTERTANKO issued a press statement today stating its approval for the recently completed European Maritime Safety Agency (EMSA) Sulphur Inspection Guidance supporting the implementation of Council Directive 1999/32/EC.   EMSA’s guidance aims to support a harmonized approach for the


India Relaxes Vessel Sharing Pacts Regulation

Pic: Directorate General of Shipping

 The government of India may continue to exempt vessel sharing agreements among shipping companies from the purview of fair trade watchdog CCI, reports Press Trust of India.  The government felt that such pacts are unlikely to hurt competition


Greece to Halt Port Privatization

Greece's government said on Wednesday it was sticking to plans to halt the sale of its two biggest ports, Piraeus and Thessaloniki, rebuffing reports it was having second thoughts. Prime Minister Alexis Tsipras's new leftist government has sought to cancel key terms of Athens' bailout programme


Update: 3 Dead, 10 Injured in FPSO Explosion

Photo: BW Offshore

Brazil oil regulator says 3 dead, 10 injured in Petrobras platform explosion   An explosion at an offshore Petrobras oil and natural gas platform killed three workers and injured 10 more, Brazil's oil regulator ANP confirmed in a statement on Wednesday.  


E.ON, Mitsui Ink LNG Transport Deal

E.ON has struck a deal with Japanese shipping group Mitsui OSK Lines LTD (MOL) to transport liquefied natural gas from the United States, the German utility said in a statement on Thursday. Running over 20 years, the shipping agreement includes capacity of up to two LNG vessels transporting


DOI Issues FSEIS for Chukchi Sea Lease Sale

The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska


Noble Energy inks LNG Supply Deal with Egypt

American oil firm Noble Energy will supply Egypt with seven LNG cargos from April for two years, an Egyptian oil ministry statement said on Tuesday. Egypt has signed several deals in past months to import natural gas, which powers most of its home and factories.


Norden Renegotiates C/P's as Low Rates Bite

Photo: D/S Norden

Danish shipping company D/S Norden has renegotiated charter agreements for nine vessels with their Japanese owners in reaction to record low dry bulk freight rates. The company has made a one-off payment of $51.5 million in return for a reduction in future time-charter payments to $62 million


Egypt: Vitol to Supply 9 LNG Cargos, in Talks with BP

Vitol will supply Egypt with nine LNG cargos for two years starting June 2015, an Egyptian oil ministry statement said on Thursday.   The statement said the ministry was also finalizing talks with BP over a deal to supply the country with 21 LNG cargoes.  


Duke Energy Fined for Environmental Violations

  Duke Energy Corp has agreed to pay a fine of about $102 million for environmental violations related to a power plant's coal ash spill into a North Carolina river last year and the company's management of coal ash basins in the state.






 
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