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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.


Asean Raps Chinese Sea Aggression

Photo by Asean

Southeast Asian foreign ministers have expressed concern at Chinese land reclamation in the disputed South China Sea, as the Philippines urged them to stand up to Beijing, reports AFP.  The statement came after Manila warned fellow members of the Association of Southeast Asian Nations


Secure VGP Compliance with New Verification Service

DNV GL carried out a pilot project for the VGP verification service with Wilh. Wilhelmsen on their ro-ro vessel, the MV Tarago.

Recent updates to the US Vessel General Permit (VGP) have brought new technical and reporting requirements for vessels operating in US waters, including the need for the preparation of a detailed annual report. DNV GL’s newly introduced VGP verification service helps to ensure compliance by


India-US “New Vision” for Asia Pacific and Indian Ocean

Barack Obama and Narendra Modi. Pic: Press Information Bureau, Government of India

 India and the USA on Sunday released a Joint Strategic Vision statement for the Asia-Pacific and Indian Ocean region, marking the deepening strategic equation between the two nations.  The partnership is expected to cover a wide sphere of influence that would extend from Africa to the


Yamal LNG Inks Deal with Gazprom to Sell LNG in Asia

A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural gas (LNG) produced by Yamal LNG will be sold in Asia, Yamal LNG said on Friday.  


Euronav NV IPO in the US

EURONAV NV

Euronav NV announced today the upsizing and pricing of its initial public offering in the United States.  The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12


Obama’s Address Missed Energy Opportunities -NOIA

President Barack Obama delivers the State of the Union address in Washington, D.C., January 20 (Official White House Photo by Pete Souza)

NOIA President Randall Luthi issued a statement in response to President Obama’s 2015 State of the Union Address, stating that the President missed a few key points regarding domestic onshore and offshore energy production and supply, and its impact on the U.S. economy.  


OMSA Opposes McCain Amendment

Ben Billings (Photo: OMSA)

The Offshore Marine Service Association (OMSA) issued a statement regarding Senator John McCain’s proposal allowing foreign-built vessels to take over marine transportation in the United States, stating the amendment would gut U.S. shipbuilding while outsourcing jobs and security.  


Pacific Basin Issues Profit Warning

Image courtesy: Pacific Basin Shipping

 Dry bulk shipowner Pacific Basin Shipping announced a total of US$132 million (HK$1 billion) impairment charges on chartered-in vessel contracts and bunker fuel swaps.   The Hong Kong-listed company informed the stock exchange that  it took US$101 million provisions mainly


Federal Mediators Weigh in on Longshore Dispute

A containership berthed in Oakland, CA (Image: Marinelink files)

FMCS Statement on Labor Negotiations Between the International Longshore and Warehouse Union (ILWU) And the Pacific Maritime Association (PMA): Allison Beck, Acting Director of the U.S. Federal Mediation and Conciliation Service, issued the following statement today on the labor negotiations


EU Speaks out on Migrant Smuggling

EC Commissioner Dimitris Avramopoulos (courtesy European Commission)

EC Commissioner Dimitris Avramopoulos weighs in on the smuggling of migrants in cargo ships: With regard to the recent events of the smuggling of migrants in the Ezadeen and Blue Sky M cargo ships to Italy, Dimitris Avramopoulos, Commissioner for Migration, Home Affairs and Citizenship


Port of Long Beach CEO Endorses Mediation Move

Jon Slangerup (Photo courtesy of the Port of Long Beach)

Federal mediators announced last night that they will assist in West Coast port contract talks, following a joint request from the International Longshore and Warehouse Union and the private terminal operators, the Pacific Maritime Association.  


Polarcus Q4 Vessel Utilization Drops

Norwegian seismic explorer Polarcus' said its vessel utilisation dropped in the fourth quarter and it expected a challenging market through 2015. The firm had a combined contract and multi-client fleet utilisation of 70 percent in the fourth quarter


US State Dept. Condemns Oil Tanker Bombing

The U.S. State Department has issued a statement in which it “strongly condemns” the bombing of a Greek-operated oil tanker near Derna, Libya on January 4 that killed two crewmen.   “The ongoing escalation of violence in Libya against civilian commercial interests further


Canada Responds to Union Allegations

Ministers Raitt and Fast Appalled by Offensive Allegation from Seafarers International Union of Canada.   Transport Minister Lisa Raitt and International Trade Minister Ed Fast issued the following joint statement in response to a communiqué issued by the Seafarers International


Petrobras Expects 3Q Unaudited Results Jan 27

Brazil's Petroleo Brasileiro SA expects to release unaudited third-quarter financial results on Jan. 27 after a scheduled meeting of its board of directors, the state-run oil company said Wednesday in a statement.   Petrobras, as the company is known






 
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