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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


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


NOIA Response : Cancellation of Alaska OCS Lease Sales

Outer Continental Shelf Image courtesy NOIA

  National Ocean Industries Association (NOIA) President Randall Luthi today issued the following statement regarding the Interior Department’s decision to cancel two offshore Alaska lease sales and deny requests to extend current Alaska offshore leases: “The cancellation of scheduled federal lease sales offshore Alaska and the denial of lease suspension requests from Statoil and Shell are extremely disappointing and short-sighted


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.


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


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


NOIA Rebuts “Red Herring” Study on Atlantic Development

(NOIA) Randall Luthi President of the National Ocean Industries Association

  NOIA President Randall Luthi issued the following statement regarding a report released today by SELC which attempts to discredit an earlier study by Quest Offshore:   “The Quest Study estimates the potential for jobs, economic activity and government revenue that could be generated from Atlantic development, assuming reasonable government policies supporting energy development are in place.  Completed in 2013, the Quest report was never intended


FMC's Doyle Acknowledges Progress on Container Weight Rules

William P. Doyle (Photo: FMC)

U.S. Federal Maritime Commissioner William P. Doyle has issued a statement regarding the ongoing discussion on container weight measures, welcoming a recent announcement from OCEMA: “OCEMA's statement on container weighing this evening is welcome news,” Doyle said


DP World Volume Up 3.7%

Sultan Ahmed bin Sulayem, DP World Group Chairman and Chief Executive Officer Photo DP World

DP World Limited today held its Annual General Meeting for the year ended 31 December 2015.  DP World Chairman, Sultan Ahmed Bin Sulayem, made the following statement regarding operational performance in the first quarter of 2016.  


Gulf of Guinea Piracy a ‘Deep Concern’ -UN Security Council

Rising crime in Gulf of Guinea contrasted with declining East Coast pirates; Presidential statement condemns murders, kidnappings, hostage-taking, as UN Security Council expresses deep concern over piracy   The United Nations Security Council on Monday expressed its deep concern over piracy


WCI's Toohey Applauds WRDA 2016 Bill

Waterways Council, Inc. (WCI) President/CEO Michael J. Toohey issued a statement regarding today’s mark-up and passage of the Water Resources Development Act (WRDA) 2016 by the Senate Environment and Public Works (EPW) Committee:  


Turkey Detains 1,734 migrants, 16 Smugglers

A total of 1,734 migrants and 16 people smugglers were detained by Turkish coastguard and gendarmerie in an operation on Friday, security forces said in a statement, part of a massive sweep to stop refugees reaching the Greek island of Lesbos.


Bourbon Crew Abducted off of Nigeria Freed

Bourbon announced that the two crew members abducted on board the Bourbon Liberty 251 off the coast of Nigeria on February 23, have been released and are in good health. Bourbon, for reasons of confidentiality, made only a brief statement on the matter and would not offer further comment


Panama Invites China and Taiwan for Canal Ceremony

Image:  Panama Canal Authority

 Taiwanese President-elect Tsai Ing-wen and Chinese President Xi Jinping have both been invited to the inauguration ceremony of the newly expanded Panama Canal on June 26.   Tsai Ing-wen's invitation from its Panamanian diplomatic ally is drawing local media attention as Chinese leader


Obama Calls on China to 'Peacefully' Address South China Sea

U.S. President Barack Obama (Official White House photo)

U.S. President Barack Obama urged China to peacefully resolve its maritime disputes with neighboring countries and to maintain freedom of navigation in the region, a reference to the ongoing dispute in the South China Sea, the White House said in a statement on Friday.  


Saudi, Egypt Draw up Maritime Borders

Egypt - Saudi arabia map courtesy - UNO

Saudi Arabia and Egypt have signed agreements to specify maritime borders, a cabinet statement said on Saturday, allowing both countries to benefit from maritime zones that were previously untapped. The agreement was signed during Saudi Arabia's King Salman visit to Egypt during which several


Italy to Supply Credit Lines, Guarantees to Boost Exports to Iran

Italy announced 4.8 billion euros ($5.45 billion) in credit lines and financial guarantees to relaunch exports to Iran, the Italian export agency said on Tuesday during Prime Minister Matteo Renzi's visit to Tehran.   Italy's state-run lender Cassa Depositi e Prestiti will offer credit


China Slams G7 on Maritime Disputes

Photo: Council on Foreign Relations

 China reacted with anger Tuesday after the Group of Seven foreign ministers released a statement a day earlier voicing strong opposition to “unilateral actions” in the East and South China seas.   "China is strongly dissatisfied with relevant moves taken by G-7


US, India to Shore up Maritime Cooperation

Photo: Idrw.org

 U.S. Defense Secretary Ashton Carter and  Indian Defence Minister Manohar Parrikar agreed  to strengthen their cooperation on maritime security, as concerns grow in Washington over Beijing's growing military ambitions.  


Saudi Shipper Bahri Q1 Profit Soars

file image: A VLCC transits the Suez Canal (Suez Canal Authority)

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 53.6 percent jump in first-quarter net profit on Monday. The company's net profit for the three months to Mar. 31 was 611.99 million riyals ($163.3 million), up from 398


Keppel's Profit Nosedives

Photo: Keppel Corp

 Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil.  


FMC Chairman Seeks Direct Engagement on Container Weight Issue

File photo: Port of Los Angeles

Federal Maritime Commission (FMC) Chairman Mario Cordero issued a statement regarding the Safety of Life at Sea (SOLAS) Verified Gross Mass (VGM) amendments implementation, calling for negotiation between shippers and carriers.   "I applaud Chairman Hunter and Ranking Member Garamendi






 
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