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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


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


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


China Loses on South China Sea Ruling

The United States urged all parties to avoid provocative statements or actions after an arbitration court ruled on Tuesday that China has no historic title over the waters of the South China Sea.   "The decision today by the Tribunal in the Philippines-China arbitration is an


EU's Statement on South China Sea Reflects Divisions

The European Union issued a statement on Friday noting China's legal defeat over the South China Sea but avoided direct reference to Beijing, reflecting discord among EU governments over how strongly to respond to the court ruling.   While the European Union is neutral in China's dispute


ASEAN in Discord Ahead of Meeting with top China, U.S. Diplomats

Photo Permanent Court of Arbitration

Southeast Asian nations were thrown into disarray after Cambodia on Saturday blocked them from issuing a statement referring to an international court ruling against China's territorial claims in the South China Sea, diplomats said. The U.N


China Asks U.S. to Support Resumption of Talks with Philippines

China's foreign minister has asked the U.S. secretary of state John Kerry to support the resumption of talks between China and the Philippines over the South China Sea, following a ruling against Beijing over the dispute earlier this month.  


Indonesian Navy fires on Chinese boat, injures fisherman

An Indonesian naval vessel fired on a Chinese fishing boat on Friday, injuring one person, China's foreign ministry said, the countries' third reported confrontation this year near a chain of islands as regional tensions mount in the South China Sea.


Wärtsilä Offloads its WinGD Stake to CSSC

5X72DF engine cut-out view. (Photo: Winterthur Gas & Diesel Ltd. (WinGD))

In a prepared statement China State Shipbuilding Corporation (CSSC) and Wärtsilä announced that Wärtsilä transferred its 30% shareholding in Winterthur Gas & Diesel Ltd. (WinGD), headquartered in Winterthur, Switzerland, to CSSC


Maersk Takes Coffee Very Seriously

The Coffee Route Map: Maersk Line

 Maersk acknowledges that coffee is very special, mainly in regards to the processes and requirements involved for it’s shipping. "So we have adapted the way we work so we can meet your needs," says a statement from  Maersk.  


ECDIS Related Detentions on the Rise

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ClassNK has been informed by Australian Maritime Safety Authority (AMSA) that during PSC inspections it has been increasingly reported that vessels have been detained because PSCO considers a deficiency regarding ECDIS means evidence of insufficient ISM performance of the vessel.


Hapag-Lloyd Agrees on Merger Terms with UASC

Photo: Hapag-Lloyd

German container shipping line Hapag Lloyd AG on Tuesday said it has reached an agreement on terms and conditions of a business combination agreement with Arab peer United Arab Shipping Company (UASC).   The deal, which would involve all shares in UASC being moved to Hapag-Lloyd


SENER Hosts FORUM Users Meeting

Opening FORUM 2016

The SENER engineering and technology group has finished its ninth FORUM (the FORAN Users Meeting) designed so that FORAN users from all over the world can share their experiences and concerns, exchange points of view and suggest new functionalities


Vietnam Urges "Fair" Ruling from Court Handling S. China Sea Case

South China Sea Disputed Areas Map courtesy AFP

Vietnam has called for an international tribunal in The Hague to deliver a "fair and objective" ruling in an arbitration case lodged by the Philippines that challenges China's expansive claims in the South China Sea. In a carefully worded statement two days after the court announced


Keppel, Shell form Singapore LNG Bunkering Joint Venture

Keppel Corp Ltd said it entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore.   The two companies will have a 50 percent stake each in the joint venture


US to Make Major Energy Announcement on Arctic Outer Shelf

The U.S. Department of Interior said it plans to make a major announcement on Thursday about energy resources on the U.S. Arctic Outer Continental Shelf.   Officials plan to discuss the latest announcement on a series of reforms related to the production of energy resources on public land


Keppel, Shell Form JV for Singapore LNG Bunkering

Photo: Keppel Corporation Limited

 Keppel Corp Ltd has entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore, says a report in Reuters.   The two companies will have a 50 percent stake each in the joint venture


China Military Says S.China Sea Ruling Won't Affect Sovereignty

China's Defence Ministry said on Tuesday no matter how an arbitration court rules on a case about the South China Sea it will not affect China's sovereignty.   "No matter what kind of ruling is to be made, Chinese armed forces will firmly safeguard national sovereignty






 
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