Marine Link
Tuesday, October 17, 2017

Statement Regarding

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

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

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

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.

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

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 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

Palmali Lodges $2 Bln Claim Against Lukoil's Litasco

Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco, the trading arm of Russian oil producer Lukoil, with the English High Court. "The claim concerns an alleged failure by Litasco S.A. to provide contractual quantities of cargo under long term contract between the companies," Palmali said in a statement sent to Reuters.  

BP Restores Power at Thunder Horse Platform after Outage

BP restored power at its Thunder Horse platform in the U.S. Gulf of Mexico, according to a statement to Reuters Wednesday.   The platform lost power due to an electrical outage Monday.   BP said it was redeploying staff to the platform, which has the capacity to produce up to 265,000 barrels of crude a day. (Reporting By Jessica Resnick-Ault)

Golar LNG Appoints Iain Ross as CEO

Shipping company Golar LNG Ltd said it has appointed Iain Ross as its new chief executive.   Ross succeeds Oscar Spieler, who was appointed as CEO last year after having previously led the company between July 2009 and June 2011.   Spieler was in charge of the company's FLNG Hilli Episeyo project and is leaving after its delivery, but would remain with the group as executive adviser, the company said in a statement.  

Migrant Boat Sinks off Turkish Coast, Four Dead

Four people drowned when a fishing boat carrying migrants sank off the Turkish coast in the Marmara Sea on Friday, the coast guard said in a statement.   The boat sank off the northwestern province of Kocaeli shortly after calling for help. The statement said 38 migrants were rescued. The coastguard was seeking 15 to 20 others and was being assisted by two helicopters, planes and commercial boats.   The origin of the migrants and their destination was not immediately clear.

Merchant Ship Collides with UAE Navy Vessel

A merchant ship collided with a United Arab Emirates navy boat as it was taking part in a routine mission off UAE territorial waters in the Gulf on Tuesday, the UAE armed forces said. There were no casualties in the incident and "other damage is being evaluated", state news agency WAM said, citing a statement from the General Command of the Armed Forces. It gave no details on the type of merchant ship, the cargo it was carrying or any details on whether shipping routes were

US Navy Ship Fires Warning Shots near Iranian Vessel

A U.S. Navy ship fired warning shots when an Iranian vessel in the Gulf came within 150 yards (137 meters) on Tuesday in the first such incident since President Donald Trump took office in January, U.S. officials said.   The last major incident was earlier in January, though there have been instances when a U.S. vessel fired a flare as well as an event in March when a U.S. Navy ship was forced to change course after multiple fast-attack vessels from the Islamic Revolutionary Guard came

Costamare Adds Three Vessels

Image: Costamare Inc.

Costamare accepted delivery of three second hand vessels during the last quarter ended June 30, 2017, said Gregory Zikos, Chief Financial Officer of Costamare.   In a press statement he said that the vessels have been chartered for periods ranging from 5 to 7 years. "During the quarter we entered into debt financing agreements for two of them and we are into discussions regarding the debt finance of the third ship

Novorossiisk Port Resumes Oil Loadings

(File photo: Transneft)

Russian pipeline monopoly Transneft said on Friday that oil loadings from the Black Sea port of Novorossiisk had resumed after a storm.   Transneft added in a statement, however, that weather conditions at the port remained unstable. (Reporting by Vladimir Soldatkin; Writing by Alexander Winning)

Suez Canal, the Fastest Maritime Corridor

Photo: Suez Canal Authority

Egypt's Suez Canal has maintained its classification as the most important and fastest maritime shipping corridor despite the economic challenges faced by the world in 2015 and 2016, reported Xinhua quoting head of the Egyptian Suez Canal Authority Mohab Mamish as saying.   A statement from the canal's authority said on Sunday that its revenues stood at $2.938 billion from January to July.   Its  revenues jumped to $446.3 million in July from $427

16 More Bodies Recovered from Sunken Iraqi Ship

Rescuers have recovered the bodies of 16 more sailors from an Iraqi ship that sank at the weekend in the country's territorial waters, bringing the death toll to 20, a transportation ministry statement said on Thursday. The Al-Misbar, a diving support ship owned by Iraq's ports authority, sank on Saturday after a collision with another vessel. The ship had 31 sailors on board, of whom 11 were rescued, while four bodies were retrieved on Saturday

Bahri to Build 4 Bulk Carriers for USD 120mln at Hyundai Heavy

Photo: National Shipping Company of Saudi Arabia (Bahri)

 The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk Company (owned 60% by Bahri) (BDB) has signed contracts with Hyundai Heavy Industries (HHI) to build 4 bulk carriers.    These carriers will be delivered during the first half of 2020. The financial impact of these contracts will appear after the delivery of the vessels.    These vessels are designed to the latest international technical specifications and are fitted

Hapag-Lloyd UASC Complete Integration Soon

Image: Hapag-Lloyd

 In the first half of 2017, Hapag-Lloyd delivered a significantly better operating result and healthy volume growth. The merger with United Arab Shipping Company (UASC) on 24 May 2017 helped the Company to strengthen its market position and climb to fifth place among the world’s liner shipping companies.   The transport volume increased by 14.0% in the first six months, to 4.22 million TEU, which includes almost 250

US Seeks Faster Approval of Small-scale Natural Gas Export

© Oleksandr Prykhodko / Adobe Stock

The United States is proposing to speed up approval of small-scale exports of natural gas, including liquefied natural gas (LNG), the U.S. Department of Energy said in a statement released on Friday.   The department said the proposed rule would "expedite the review and approval of applications to export small amounts of natural gas in the emerging small-scale LNG export market," which it said includes the Caribbean, Central America and South America.  

Fire Kills Five at ASL Marine's Batam Shipyard

Photo: ASL Marine Holdings

 The vessel owner-operator and shipbuilder  ASL Marine Holdings said that a fire occurred in its shipyard in Batam, Indonesia.   ASL press release that initial investigations showed the incident occurred on board a tanker that was being repaired at one of its dry docks. The fire likely started inside and was confined to the pump room, the company added in its statement.   Whilst this may restrict damage and deaths, nevertheless five people died and one person is injured

CNPC, Eni Sign LNG Deal

Photo:  Eni

 China National Petroleum Corporation (CNPC) and Italy’s Eni signed a cooperation agreement that includes assessing opportunities in the gas and LNG value chain.   "CNPC and Eni signed cooperation agreement today in order to cooperate in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals. The partnership will regard both China and overseas activities

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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