Glm News

General HydroStatics is no longer just about hydrostatics, and will soon offer capabilities in the world of hydrodynamics with the introduction of a long awaited addition to the GHS product family: an optional seakeeping module. Adding a seakeeping module means run files may now include seakeeping capabilities by adding a couple new commands and existing geometry files (.GF) can be used for the seakeeping analysis with little or no modification. Integration with GHS also reduces required user input, getting answers faster while increasing user control.

Creative Systems, Inc., developers of GHS, has several training classes scheduled for the remainder of 2011. This training provides the naval architect the knowledge and confidence to make use of the flexibility of power that are available in this software package. The Canadian Coast Guard will be hosting general GHS class, including model building and stability calculations. London Offshore Consultants will be hosting intermediate GHS class, dealing with salvage operations. Nick Danese Applied Research will be hosting an advanced GHS class in Probabilistic Damage. Class sizes are limited, so please contact Creative Systems directly for a seat in any of these classes. Additional future classes can be arranged at your location or at the offices of Creative Systems in Port Townsend, WA, USA.

General HydroStatics (GHS) and its derivative, GHS Load Monitor (GLM), are both used by fleet operators. These software programs are designed to be configured by users to match their own reporting requirements while meeting the everyday needs of each vessel with minimal ongoing effort. Trident Seafoods uses GLM to manage its fleet and to aid the deck and engineering officers in load monitoring to prevent overloading and meet regulatory requirements. With this vertical business from fishing to processing…

A new addition to GHS software, the Crane Module, helps naval architects charged with calculating the complicated effects of a crane's performance on barges. Although the Crane Module is useful for modeling any crane, it is especially powerful in modeling large cranes with multiple hooks mounted on a barge or ship. "Crane manufacturers give a limit to the amount of machine list allowed as the boom lifts and/or rotates," explained Ed Glowacki, owner of Glowacki Engineering, an engineering consulting firm in Florida specializing in naval architecture, "and these cranes are designed to operate on virtually level ground."  Glowacki's consulting firm is often called upon to create a modified crane chart for cranes installed on ships and barges – surfaces that are anything but level.

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2001 decreased by 3.2 percent from the previous month's SCORE. Global Marine Chairman, President and CEO Bob Rose said, "We, like the rest of the nation, are outraged by the recent terrorist acts inflicted on our country, and want to acknowledge the tireless efforts of the rescue workers as well as those who are restoring order. Global Marine's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle, when speculative new rig construction was common.

Global Marine Inc. reported net income for the quarter ended September 30, 2001 was $62.1 million, or $0.34 per diluted share, on revenues of $314 million. For the corresponding 2000 quarter, the company reported net income of $32.3 million, or $0.18 per diluted share, on revenues of $272 million. $1.03 per diluted share, on revenues of $965 million. million, or $0.12 per diluted share, on the second quarter 2001 sale of a special-purpose rig. This compares to net income of $73.0 million, or $0.41 per diluted share, on revenues of $707 million for the nine months ended September 30, 2000. Bob Rose, Global Marine Chairman, President and CEO, said, "Global Marine's financial and operating performance was strong.

Global Marine (GLM) is a holding company that provides offshore contract drilling services on a dayrate basis and offshore drilling management services on a dayrate or fixed-price basis. The company has an active fleet of 31 mobile offshore drilling rigs and two ultra deep-water drillships under construction. The company also participates in offshore oil and gas exploration and development projects: operations conducted mainly in the U.S., the U.K., Nigeria, Canada and other countries abroad. Contract drilling accounted for 64 percent of 1999 revenues; drilling management services 35 percent and oil and gas, one percent. On January 18 the company reported net income for the year ended December 31, 2000, of $113.9 million on revenues of $1 billion.

Creative Systems, Inc., makers of GHS (General HydroStatics) ship stability software, has released version 8.0, a major update that incorporates many improvements, including a new on-sreen report preview. Shipments of the update to existing users with maintenance subscriptions are now complete. Others wishing to take advantage of these improvements, please contact Creative Systems directly. The company's onbard software, GHS Load Monitor (GLM) version 8.0, also has several new features which may be viewed at www.ghsport.com/glm.htm. Existing GLM installations wishing to update to the new version should contact their naval architects or Creative Systems. For more information e-mail [email protected] or visit www.ghsport.com/home.htm

FirstWave/Newpark Shipbuilding has been awarded a contract from Global Marine Drilling Company of Houston, Texas for final commissioning of drilling equipment and other miscellaneous completion work on the newbuild drillship Glomar Jack Ryan. The vessel left builder Harland & Wolff Shipyard in Belfast, Northern Ireland, on August 20 and is scheduled to arrive at FirstWave's East Pelican Island Facility in Galveston early September.

Global Marine’s worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2000 increased 1.8 percent over the previous month. Global Marine Chairman, President and CEO Bob Rose said, “September marks the 13th consecutive month of improvement in the worldwide SCORE and the 15th consecutive month of improvement in the Gulf of Mexico SCORE. Global Marine’s SCORE compares the profitability of current mobile offshore drilling rig rates to the profitability of rates at the 1980-81 peak of the offshore drilling cycle, when speculative new rig construction was common. In the 1980-81 period, when Global Marine’s SCORE averaged 100 percent, new-contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.

Global Marine Inc. Chief Executive Bob Rose expects daily rental rates, or dayrates, for offshore oil and gas drilling rigs to surpass their highs of three years ago in 2001. "We will see rates exceed the 1997-98 high levels. That will very definitely be this year," Rose said. Dayrates are currently running at about 74 percent of their 1997/98 highs, Rose said, with the West African and North Sea markets now showing signs of recovery as a longer-established natural gas drilling boom continues in the U.S. Gulf of Mexico. Rose said that as a result of a recent expansion of its fleet of rigs, Global Marine was capable of annual earnings per share of about $3.25 if market conditions matched those of 1997.

Global Marine's (GLM) Summary of Current Offshore Rig Economics (SCORE) rose 0.6 percent in June 2001, despite a reduction in the Gulf of Mexico. "Softening jackup rates due to declining natural gas prices have taken a toll on the Gulf of Mexico SCORE," said Bob Rose, GLM's chairman, president and CEO. "However, strong oil prices have continued to fuel improvement in international offshore rig markets."

The course of corporate consolidation within the already tight offshore business took a dramatic turn over the holiday weekend, as Global Marine Inc. and Santa Fe International Corporation entered into a definitive agreement to merge in a stock-for-stock transaction that will create the world's second largest offshore drilling contractor. The new company, which will be named GlobalSantaFe Corporation, will be headquartered in Houston and will trade on the New York Stock Exchange under the ticker symbol "GSF". Based on Santa Fe's closing stock price on Friday, August 31, GlobalSantaFe would have a market value of approximately $6 billion.

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2001 decreased by 3.2 percent from the previous month's SCORE. Global Marine Chairman, President and CEO Bob Rose said, "We, like the rest of the nation, are outraged by the recent terrorist acts inflicted on our country, and want to acknowledge the tireless efforts of the rescue workers as well as those who are restoring order. Global Marine's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle, when speculative new rig construction was common.