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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


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


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


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.


Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.   APM Terminals said in a statement Costa Rica's National Concession Council had also issued a


USCG Says Unaffected by Cuba Policy Changes

The U.S. Coast Guard (USCG) issued a statement today stating that the United States’ Cuba policy change will not impact its missions annd operations. “Coast Guard missions and operations in the Southeast remain unchanged,” the USCG statement said.


White House Takes Aim at Illegal Seafood Trade

Photo: NOAA

A White House task force on Tuesday issued proposals to tighten the grip on the illegal global seafood trade, which the group said causes billions of dollars in losses to the legal fishing industry annually.   Under the plan, the United States would create a program to trace seafood


Saab to Overhaul Swedish Navy Submarine

HMS Södermanland (Photo: Försvarsmakten)

Saab has received an order from the Swedish Defense Materiel Administration (FMV) to overhaul the Swedish Navy submarine HMS Södermanland. The order, valued at SEK121 million, is part of the letter of intent announced on June 9, 2014 regarding Swedish armed forces’ underwater


Eni Performs Production Test in Offshore Congo

Photo: Eni

Italian oil and gas group Eni estimated the potential of the Minsala Marine discovery offshore Congo Brazzaville at about 1 billion barrels of oil equivalent, after successfully completing the production test of an exploration well.  


Petrobras' Condensed Report for 3Q, 2014

  Petrobras clarifies that it has been decided not to publish the financial statements for the third quarter of 2014 not reviewed by the independent auditors in view of the new incidents, after the day November 13, 2014, relating, directly or indirectly, with Operation Lava Jato, namely:


Jones Act Gets Staunch Support

  The United States Congress this week enacted the strongest statement of support for the Jones Act and the American domestic maritime industry since the Merchant Marine Act of 1936. The measure was included as part of the National Defense Authorization Act (H.R


IMO, UN Agencies Address Maritime Migration

Koji Sekimizu (Photo: UNHCR / Jean-Marc Ferré)

The International Maritime Organization (IMO) has joined with other UN agencies in calling for concerted action from the international community to address the problem of the loss of life, injury, trauma and serious human rights violations affecting migrants


Danish Investors Investigating OW Bunker Collapse

A group of the largest Danish institutional investors has initiated an investigation of the collapse of ship fuel supplier OW Bunker, they said in a joint statement on Wednesday. "The purpose of the investigation is to understand the events leading up to the bankruptcy and to obtain


Statoil Halts Angola Exploration, Cancels Rig Contract

Statoil drillship.jpg

Norway's Statoil has halted its exploration campaign in Angola after several disappointing wells and canceled a rig contract with Stena Drilling, the firm said on Friday. "The costs of terminating the operations and associated services including the Stena Carron rig contract will be


OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Photo: Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds an “insignificant commercial impact” for its business as the company has had only limited financial exposure towards


Petrojarl Knarr FPSO Earns AoC from PSA Norway

Petrojarl Knarr (Photo: Norsafe)

Teekay’s Petrojarl Knarr FPSO has received PSA Norway’s Acknowledgement of Compliance (AoC), and has now arrived the Knarr field in the North Sea. The AoC is a statement from the PSA expressing the authorities’ confidence that petroleum activity can be performed by the facility


Moore Stephens to Make Representation on Tonnage Tax Changes

Sue Bill

International accountant and shipping consultant Moore Stephens is to make representation to Her Majesty’s Revenue & Customs in connection with recently issued draft revised guidance in respect of the U.K. tonnage tax regime, some of which it considers to be unhelpful. 


Rosneft Inks Supply Pact with PDVSA

Russian top crude producer Rosneft and Venezuelan state oil company PDVSA have signed a new contract for supplies of oil and oil products of Venezuelan production, the Russian company said on Monday. The document envisages the supplies of over 1


SBM Offshore Shares Jump as Bribery Case Settled

Photo: SBM Offshore

SBM Offshore NV has settled a bribery case with Dutch prosecutors for $240 million, including a $40,000 fine, sending shares in the Dutch oil platform leasing firm up more than 20 percent on Wednesday. The settlement, which was in line with provisions already taken






 
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