Transocean Inc. announced that a subsidiary of Royal Dutch Shell (Shell) has awarded a two-year contract extension for the company's Fifth-Generation moored semi-submersible rig Deepwater Nautilus. The two-year contract extension is expected to commence in December 2006, in direct continuation of the rig's current contract. Revenues of approximately $310 million could be generated over the two-year extension period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Nautilus is currently operating for Shell Exploration and Production in the U.S. Gulf of Mexico and is expected to continue drilling operations for the remainder of 2005 and into 2006 before requiring an estimated 60 days of out-of-service time during 2006 to complete repairs of all remaining storm-related damage, which pertains mainly to the rig's mooring system. The rig, which entered service in 2000 following its construction in Ulsan, South Korea, is capable of operating in water depths of up to 8,000 ft.
Atwood Oceanics, Inc. (a Houston based International Offshore Drilling Contractor) said that the VICKSBURG (owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited) has been awarded a two-year contract by Chevron Overseas Petroleum (Thailand) Limited ("Chevron") which will immediately follow Chevron's current eight (8) month drilling commitment offshore Cambodia. The VICKSBURG is presently working in Malaysia under drilling commitments with dayrates of $82,000 to $87
Oil markets placed another bet on tightening supply, supporting prices in the vicinity of 22-month highs touched last week. Benchmark Brent for September hit $20.87 a barrel today, just 13 cents off a Friday peak of $21 that was the crude's highest value in almost two years.
The Government of Canada will invest $10.2 million in maintenance, repair, construction and dredging projects at small craft harbours in Nova Scotia, as part of a country-wide $63 investment in core fishing harbours. “Small craft harbours play a vital role in securing the prosperity of our coastal communities in Nova Scotia,” said the Honourable Gail Shea, Minister of Fisheries and Oceans. “The investment announced today shows our Government’s commitment to providing
P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P&O Australia, has contracted two anchor handling support vessels at the Simek AS yard in Norway. Delivery of the vessels will take place in March and July 2003. The vessels are a new type of UT 712 of 12,240 bhp with DP and a double drum 370 tonne winch for employment in international markets. IOS has also entered into a two year time charter with Phillips in Australia for the
German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said. Chief Executive Frank Asbeck justified his intention by saying Chinese panel makers would still receive unfair state subsidies, according to the magazine. It was based on this reasoning that the German solar energy pioneer succeeded in getting the duties imposed in the first place.
At a time when many industrial operators are having trouble securing credit, Koike Aronson/Ransome Inc. has joined with a major capital equipment lender to offer Equipment Leasing Financing to Koike’s customers in the U.S. and Canada. Koike Aronson’s business units and field representatives now have the ability to provide their customers with an indicated monthly payment, using a $1 buyout or a 10% purchase option, with terms of 36, 48 or 60 months.
PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25
The Maritime and Port Authority of Singapore (MPA) is rolling out a series of new manpower schemes to attract, develop and retain local talent in the maritime sector. The Government will set aside S$12 million over the next two years to roll out a series of manpower schemes. Some 5,000 individuals are expected to benefit from the new manpower schemes, which will be rolled out progressively from May 1, 2016.
Siem Offshore and Petrobras have entered into a charter agreement for the Platform Supply Vessel (PSV) Siem Atlas. The charter period has commenced and is for a firm period of two years. Petrobras has an option to extend the charter for two additional years, upon terms to be mutually agreed. The gross contract value for the firm period is approximately $26 million. siemoffshore.com
The Stena Immaculate, the ninth vessel in a series of 13 new IMOIIMAX MR tankers, was named January 10, 2017 at a ceremony at China’s Guangzhou Shipbuilding International (GSI). A large number of guests, from both corporate management and partners as well as representatives of the
Libya's UN-backed government will declare force majeure on two ports to stop fuel smuggling from them, a statement from its presidential council said on Saturday. The statement gave no details on when the measure would come into effect, but it comes after officials accused a local armed group
Norwegian offshore vessel owner DOF has been awarded charter contracts for a platform supply vessel (PSV) and an anchor handling tug supply vessel (AHTS). DOF said on Wednesday that the company won a two-year firm contract plus options with Asco Marine for the Skandi Aukra PSV.
The Board of Commissioners of the Port of New Orleans has announced that, effective Jan. 1, 2017, Brandy D. Christian has begun service as the Port’s president and chief executive officer following her two-year tenure as its chief operating officer.
The U.S. oil rig count ended 2016 just below year-ago levels as drillers added rigs this week as part of the biggest recovery since a global oil glut crushed the market over two years. Drillers added two oil rigs in the week to Dec. 30, bringing the total count up to 525
U.S. energy companies added oil rigs for an eighth week in a row, extending a seven-month drilling recovery as crude prices remained near a 17-month high. Drillers added 13 oil rigs in the week to Dec. 23, bringing the total count up to 523, the most since December 2015
From January 2014 - October 2016 the crude oil tanker segment composing of VLCC, suexmax and aframax ships, had a net-fleet growth of 7.3 percent, which is equal to 24.3 million (m) DWT. The VLCC segment, with 20.7m DWT or a net fleet growth rate of 11 percent took the lion’s share
Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that it signed an agreement to acquire from Dayang shipyard, Hull DY160, an Ultramax drybulk carrier, of 63,500 dwt built 2017
China LNG imports hit record in November, but set to beat that this month. China's state oil and gas majors are set to import record levels of liquefied natural gas (LNG) this month, betting on robust demand during the cold winter months and helping lift Asian prices to their highest in nearly
An oil tanker docked at the east Libyan port of Es Sider on Monday to load the first cargo of crude since the terminal reopened following a two-year closure, port officials said. Es Sider, Libya's biggest export terminal, had been shut due to a blockade by a military faction since 2014
In wake of new low-sulfur rules for maritime, IEA expects to drive a 2-million-bpd increase in demand for low-sulphur diesel Even if the diesel engine's scandal-driven fall from grace pushes it out of the world's passenger cars, an increasing need for it on ships
U.S. energy companies this week added oil rigs for a seventh week in a row, extending a seven-month drilling recovery as crude prices held near a 17-month high. Drillers added 12 oil rigs in the week to Dec. 16, bringing the total count to 510, the highest since January
Following a two-year period of plan approval and newbuild supervision services provided by Bernhard Schulte Shipmanagement’s project focused business, Schulte Marine Concept, BSM's Mexico based Ship Management Centre has commenced management of Reforma Pemex
A research team led by University of South Florida College of Marine Science professor Dr. Steven Murawski has been awarded a $1 million grant to explore how oil spills, such as the Deepwater Horizon (DWH) in 2010, impact the economic, ecological and social system aspects of fishing communities
Dr. Andrew Garrad, the co-founder of Garrad Hassan, has announced he will retire from DNV GL on December 23, 2016. Following the merger between DNV and GL Garrad Hassan two years ago, Andrew ceased to play an active operational role in the company, but remained associated with DNV GL