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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


Imtech Bankrupt, Parts Sold to Investors

Dutch engineering services company Royal Imtech has been declared bankrupt and its Marine and Nordic divisions are being sold to private investors, the company and its administrators said on Thursday.   Imtech, which employs 22,000 people in 35 countries and has annual sales of roughly 4


COSCO: Ships at Tianjin Port not Impacted

China Ocean Shipping (Group) Company said its ships anchored at Tianjin port were not affected by the blasts at a warehouse in the country's northeastern city last week, though some of its facilities in the area suffered varying levels of damage.


Shell Lifts Force Majeure on Nigeria Gas

Shell said on Friday that its Nigerian joint venture lifted its force majeure on natural gas supplies to the Nigeria Liquefied Natural Gas Co (NLNG) after repairing a pipeline. The force majeure was put in place on Aug. 4 after the company discovered a leak on the Eastern Gas Gathering System


Goldenport Bleeds in Red

Pic: Goldenport Holdings Inc

 Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier as revenue fell by a quarter to USD18.5 million from USD24.7 million.  


Brazil: Discount Rate Unveiled for Port Auctions

The Brazilian government on Tuesday unveiled the discount rate that will be used to calculate internal rate of returns on as many as 29 port operation licenses that will be auctioned off to investors this year. In a statement, the finance ministry update the calculation for the so-called


Qatari Shipper Nakilat Q2 Net Profit Gains 12.3 pct

Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 12.3 percent increase in second-quarter net profit on Tuesday, according to Reuters calculations. The company made a net profit of 267.8 million riyals ($73


EU Extends Suspension of Iran Sanctions

The European Union extended on Tuesday a suspension of sanctions on Iran for six months following a nuclear deal between the Middle East country and six major world powers.   In a statement the EU said it had "prolonged until January 14 2016 the suspension of EU restrictive


More than 100 Shipbuilders Lose Jobs at ASC

Warehouse facilities and workers at ASCs submarine construction and maintenance facility at Osborne, South Australia. Photo: ASC Pty Ltd.

 South Australian defence shipbuilding company ASC has axed 101 blue collar jobs from its facility at Osborne near Port Adelaide.    The submarine and shipbuilder ASC has let go 101 contractors from its facility in Adelaide in a move it says will increase productivity on its air


Market Rife Merger Talk, NOL Says Not Yet

Image: Neptune Orient Lines (NOL)

 As Singapore's sovereign wealth fund, Temasek, readied is to sell Neptune Orient Lines (NOL), the market has been rife with merger talk with Hong Kong's Orient Overseas International Ltd (OOIL) and Hamburg's Hapag-Lloyd being leading candidates.  


FERC Approves Excelerate’s Offshore GasPort

Rendering of the proposed facility, the Aguirre Offshore GasPort (Photo: Excelerate Energy)

Excelerate receives approval to move forward with the construction and operation of LNG terminal   On July 24, 2015, the U.S. Federal Energy Regulatory Commission (FERC) issued its order granting authorization to Excelerate Energy, in cooperation with the Puerto Rico Electric Power


Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to maintain its role as the world's top bunkering hub. The move to issue bunker supplier licences to the gas sector complements the


Vale Sells Four 'ValeMax' Bulkers to China Merchants

A ValeMax very large ore carrier (file image: Vale)

Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China's state-owned China Merchants Energy Shipping Co in September. The 400,000-deadweight-tonne ships


MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration (MARAD) published a Federal Register Notice of Intent (NOI) advising the public that the agency, in coordination with the U.S


India to Decentrale Chartering Arrangements

Photo: National Shipping Board , Ministry of Shipping, Government of India

 India's state-owned companies can  now make their own shipping arrangements of both dry and liquid bulk cargo without having to route their requirements through the Shipping Ministry.   The Cabinet Committee on Economic Affairs (CCEA) has allowed government departments and public


Overseas Shipholding Investors Settle Lawsuit with Execs, Others

Overseas Shipholding Group Inc investors have reached $16.25 million in settlements with the executives, underwriters and an auditor of the tanker company in a lawsuit related to its 2012 bankruptcy and tax problems.   Company directors and officers






 
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