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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.


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.


WCI Chairman Issues Statement

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Rick Calhoun, President of Cargo Carriers (Cargill) and Chairman of Waterways Council, Inc., released a statement today regarding the state of emergency on the Lower Mississippi River. “The inland waterways navigation system is the most important transportation asset in the United States and is vital to the economic well-being of this country,” Calhoun said.  “We urgently call on the Federal government today to take all necessary steps to provide funding for this


Carnival CEO Issues Statement Regarding Costa Concordia

The statement of Micky Arison, chairman and CEO of Carnival Corporation & plc, parent company of Costa Cruises:   We are deeply saddened by the reports of additional deaths following the grounding of the Costa Concordia. On behalf of the entire Carnival Corporation & plc team, I offer our heartfelt condolences to all of those families affected by this tragedy.   Our immediate priority continues to be supporting rescue and recovery efforts and looking after our


Navios Maritime Acquisition Corporation acquires VLCC

 Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced today the acquisition of a 2003-built VLCC of 298,287 dwt. The VLCC was purchased for $43.5 million. The vessel is expected to be delivered in Q2 2014.  


Protests Close Libya's Western Zawiya Oil Port

Photo courtesy UK Libyan Embassy

Libya's western Zawiya oil terminal has been closed by protesters preventing some oil product tankers from discharging, a government statement said on Friday. Local citizens demonstrating against the General National Council, the country's parliament


Huntington Ingalls to Explore Opportunities for Avondale Redevelopment

 Huntington Ingalls Industries announced today it will conduct a study with Kinder Morgan Energy Partners, L.P. (NYSE:KMP) to explore redeveloping Huntington Ingalls Industries' Avondale shipyard in Louisiana.   Since the July 2010 announcement to close Avondale


Biden visit to Kiev to show U.S. support for Ukraine

 U.S. Vice President Joe Biden will travel to Kiev on April 22 to meet with government officials and civil society groups ahead of the Ukrainian presidential election in May, the White House said on Saturday.   "The vice president will underscore the United States' strong support


The Pitfalls of Post Incident Paperwork

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The job’s not over until the paperwork is done. Done correctly. When an accident occurs on one of your vessels, an accident investigation is necessary. As safety is our primary concern, it is important to determine what happened, how it happened and how we can prevent it from happening in


Coast Guard’s Proposed Maritime Preemption Assessment Framework

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In the May 2013 issue of Maritime Reporter & Engineering News, Dennis Bryant published a provocative article titled Rebuilding the Presumption of Preemption. Pointing to recent examples of state overreach in the maritime field like California’s ocean-going vessel fuel standard that


STX Offshore Wins $388M Order for 8 Tankers

Reuters - South Korea's STX Offshore & Shipbuilding Co Ltd said on Monday it won a 413.8-billion won ($387.63 million) order to build eight tankers from from Navig8 Product Tankers Inc. The South Korean shipbuilder said in a statement the contract includes an option for four more tankers


Ukraine's Naftogaz says paid for January Russian gas supplies

Ukraine's state energy company Naftogaz said on Thursday it has fully paid for Russian gas supplied in January and is in talks with Russia's Gazprom on settling other payments to ensure safe gas deliveries. Gazprom said on Wednesday that Ukraine's total debt for Russian gas deliveries stood at


Investor Selling up to 10% of d'Amico

Photo: dAmico

Reuters - The main shareholder in D'Amico International Shipping has launched a placement of up to 42.2 million shares, or about 10 percent in the Italian shipper, the company said on Thursday. In a statement, it said the shares will be sold via an accelerated bookbuilding to boost liquidity in


Russia Sinks Ship to Create Obstacle

AP photo

According to multiple media reports including The Sydney Morning Herald (smh.com.au) as well as Ministry of Defense of Ukraine, the the Russian Navy reportedly sank one of its own, junked vessels to create an obstacle, a Ukrainian official claimed.


U.S. seeks records on NY-NJ Port Authority chairman

(Reuters) - Federal prosecutors in Manhattan have subpoenaed the Port Authority of New York and New Jersey for records regarding the business dealings of the agency's chairman, David Samson, according to media reports on Monday. U.S. Attorney Preet Bharara is interested in particular in any


Dangerous Goods Shipments Banned in Alexandria

CMA CGM issued a statement to inform customers about new instructions received from the port of Alexandria, Egypt regarding dangerous goods shipments. With immediate effect, LCL/consolidation shipments containing dangerous goods to Alexandria are not accepted anymore, CMA CGM said.


Peterson Comments on Moseley' Resignation

David Moseley

Washington Secretary of Transportation Lynn Peterson issued a statement regarding the resignation of Assistant Secretary for Washington State Ferries David Moseley. Peterson's comments are as follows. After six years of service, Assistant Secretary for Washington State Ferries David Moseley has


Stolt-Nielsen Changes Accounting for Two Acquisitions

Stolt-Nielsen Limited announced that Finanstilsynet (The Financial Supervisory Authority of Norway) has completed a review of certain aspects of the company's consolidated financial statements for 2012. The company agreed to reverse $12.3 million of the non-cash gains on bargain purchase


SFL Files Annual Report

Ship Finance International Limited (SFL) announced  it has filed its annual report on Form 20-F for the year ended December 31, 2013.   The annual report can be downloaded from the company's website at www.shipfinance.org. Shareholders can also request a hard copy of our complete


 
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