Marine Link
Thursday, January 18, 2018

Global Industries Ltd News

Keppel Unit Wins Contracts Worth $155.6m

Keppel Corp. said Keppel Singmarine Pte Ltd. has won two shipbuilding contracts worth $155.6m, Thompson Financial reported. Keppel Singmarine will build a derrick pipelay vessel for Global Offshore International Ltd, a unit of U.S.-listed Global Industries Ltd. In a separate deal, Keppel Singmarine will construct a 100-metre Rolls-Royce designed UT 788 CDL ultra-deepwater multi-functional support vessel For Lewek Shipping Pte Ltd., a unit of Singapore-listed Ezra Holdings Ltd. Source:  Thompson Financial

Global Offshore to do Work for Mexican National Co.

Carlyss, La.-based Global Offshore Mexico, a wholly owned subsidiary of Global Industries, Ltd., has been awarded a $40m contract by PEMEX, the national oil company of Mexico, to dismantle a drilling rig involved in an October accident. Global’s Titan 2 was dispatched to the scene to assist in rescue efforts and will now decommission and dismantle the drill rig.

Global Completes Securities Filing

Global Industries Ltd. filed to sell from time to time up to $500 million in debt securities, common and preferred stock, depositary shares and warrants. Net proceeds will be used for general corporate purposes, which may include debt repayment, capital expenditures, future acquisitions and additions to working capital, the company, based in Lafayette, La., said in a shelf registration filing with the Securities and Exchange Commission.

Global to Install Platforms and Pipelines for ChevronTexaco

Global Industries, Ltd. announced its subsidiary Global Industries Limited Mauritius has executed a contract to undertake platform and pipeline installation work in the Gulf of Thailand for Chevron Offshore (Thailand) Ltd., a subsidiary of ChevronTexaco Corporation. This work forms part of ChevronTexaco’s Minimum Facilities Project (MFP) to expand oil and gas production in Thailand. Global will be responsible for installing five wellhead platforms and four pipelines as well as performing associated tie-in, free span correction, and testing activities. The offshore work will be performed in two phases to accommodate ChevronTexaco’s construction schedule and optimize Global’s barge utilization.

Global, Flour Agreement, Middle East

Global Industries, Ltd. (NASDAQ:GLBL) announced today that it has entered into an exclusive agreement with Fluor Offshore Solutions, a division of Fluor Corporation (NYSE:FLR), to pursue offshore projects in the Middle East and North Africa (MENA) region. The exclusive agreement, which will build on the combined 60 years of offshore experience of both companies, will jointly market and perform offshore construction projects for the oil and gas industry within the MENA region. The agreement will leverage the depth of Engineering, Project Management, Procurement and Installation processes to focus on both EPIC and traditional Transportation and Installation solutions. Global will be utilizing its extensive vessel fleet and significant offshore experience.

Global Industries Prices Offering Stock at $9

Global Industries Ltd. priced an offering of 8.5 million shares of its common stock at $9 each. The offering of the shares will generate about $72.3 million in net proceeds that will be used to repay outstanding indebtedness under the company's term loan facility and for general corporate purposes and working capital, Global Industries said. The company said it also granted the underwriters an option to purchase up to an additional 850,000 shares to cover over-allotments. It expects the issuance and delivery of the shares to occur on March 27. The offering is being underwritten by Credit Suisse First Boston, Raymond James, Credit Lyonnais Securities (USA) Inc. and Hibernia Southcoast Capital.

Global Industries Assists in U.S.S. Monitor Project

Global Industries, Ltd. announced that Global Divers & Contractors is mobilizing its saturation system and support personnel for Phase 3 of the U.S.S. Monitor recovery project. The U.S.S. Monitor, an ironclad Civil War battleship, sank in 1862 off Cape Hatteras, North Carolina in 240 feet of seawater. The U. S. Navy plans to salvage the turret and guns from the Monitor and place them in the Mariner’s Museum in Newport News, Virginia. These will be the last significant pieces of the U.S.S Monitor to be salvaged. The actual salvage is scheduled for six weeks onsite.

Global Industries Elects Dickerson to the Board of Directors

Global Industries, Ltd. said that Lawrence R. and Chief Operating Officer of Diamond Offshore Drilling Inc. elected to the Board of Directors of the Company. Mr. Dickerson was elected to the Board on March 21, 2007. as a Director of Diamond Offshore Drilling, Inc. since 1998. Dickerson was Senior Vice President and Chief Financial Officer. Dickerson joined Diamond Offshore in 1979. organizations. Industries Association. Association of Drilling Contractors and was the 2003 Chairman. Mr. Dickerson was appointed by the President and served on the U.S. on Ocean Policy.

Keppel Delivers 2nd Pipelay Vessel to Global Industries

Keppel Singmarine Pte Ltd (Keppel Singmarine), the specialised shipbuilding arm of Keppel Offshore & Marine Limited (Keppel O&M), is on track to deliver Global 1201, the second new generation derrick pipelay vessel to Global Industries Ltd (Global Industries) safely, on time and within budget. Keppel Singmarine was awarded a S$50,000 bonus from Global Industries for achieving zero-incidents during the construction of this 531.5-ft-long double-hull vessel. Mr Tong Chong Heong, CEO of Keppel Offshore & Marine, said, "Global 1201 is a great example of excellent teamwork and reflects a strong alignment of goals and priorities between Keppel Singmarine and Global Industries.

Global Awarded PEMEX Contract

Global Industries, Ltd. said that subsidiary Global Offshore Mexico S. de R.L. de C.V. received a letter of intent from PEMEX Exploration & Production to install three 20-inch diameter pipelines and nine 12-inch diameter pipelines as part of the EPC-77 Project in the Cantarell Field. The field is located in Mexico's Bay of Campeche. The Project is valued at approximately $100 million and scheduled to be completed by the end of the first quarter 2005. William J. Doré, Chairman and CEO, stated, "The project will utilize our vessels Hercules, Shawnee, and Pioneer. This award reflects the significant level of project activity in the Bay of Campeche."

Global Industries to Take Delivery of Global 1201

Keppel Singmarine Pte Ltd (Keppel Singmarine), the specialized shipbuilding arm of Keppel Offshore & Marine Limited (Keppel O&M), is on track to deliver GLOBAL 1201, the second new generation derrick pipelay vessel to Global Industries Ltd (Global Industries) safely, on time and within budget. Keppel Singmarine was awarded a S$50,000 (over $40,000) bonus from Global Industries for achieving zero-incidents during the construction of this 162 meter-long double-hull vessel. Tong Chong Heong…

Global Industries Announces New VP

Global Industries, Ltd. has appointed J. Michael Pearson to the position of senior vice president – strategic planning. In this position, he will have corporate oversight responsibility for project performance on a worldwide basis. Pearson has 30 years of engineering and construction management experience, including 25 years with McDermott International, Inc. where he progressed from field engineer to vice president/general manager of major domestic and international construction projects. Most recently, Pearson acted as president of the CAByL joint venture project constructing offshore platforms for Pemex’s Cantarell Field at Enron Engineering and Construction Company. Pearson holds a BS degree in Civil Engineering from Louisiana Tech University.

Téllez Elected to Board at Global Industries

Luis Téllez has been elected to the Global Industries, Ltd. Board of Directors of the Company effective March 31, 2003. Téllez is Executive Vice-President and Chief Executive Officer of DESC, S.A. de C.V., a diversified industrial conglomerate and one of Mexico’s largest corporations. Prior to his association with DESC, Téllez served as Mexico’s Secretary of Energy from 1997 until 2000. He served as Chief of Staff to President Ernesto Zedillo from 1994 to 1997. Previously, Téllez was appointed Head Economist at the Ministry of Treasury from 1987 to 1990 and Undersecretary of Planning at the Ministry of Agriculture and Water Resources from 1990 to 1994.

Global Industries Makes Additions

Global Industries, Ltd. announces the appointment of Craig Milburn as operations manager for Global Divers, based in New Iberia, LA. As Operations Manager, Milburn is responsible for diving operations, personnel, equipment, and the diving facilities at the New Iberia facility. Milburn joined Global in 1982 and has held numerous positions as a diver, Supervisor, Superintendent, and project manager domestically and in Asia Pacific. Previously, he attended the University of Oregon in Architecture and the Commercial Diving Center in Los Angeles. Bill Alexander has been appointed Business Development Manager - North America and is based in Houston.

Global Acquires Marine Construction Business

Global Industries, Ltd. has attained the offshore marine construction business of its Mexican joint venture CCC Fabricaciones y Construcciones, S.A. de C.V. and sold its interest in CCC to the other principal shareholder of CCC, Grupo Consorcio de Fabricaciones y Construcciones. Under these terms, Global is acquiring four marine vessels and the marine support base at Cuidad de Carmen, Mexico, in addition to the existing offshore marine construction contracts totaling more than $72 million. Another transaction in the works is a definitive purchase agreement that was signed for the attainment of ETPM, SA, an international offshore construction company.

Global Acquires Marine Construction Business

Global Industries, Ltd. has attained the offshore marine construction business of its Mexican joint venture CCC Fabricaciones y Construcciones, S.A. de C.V. and sold its interest in CCC to the other principal shareholder of CCC, Grupo Consorcio de Fabricaciones y Construcciones. Under these terms, Global is acquiring four marine vessels and the marine support base at Cuidad de Carmen, Mexico, in addition to the existing offshore marine construction contracts totaling more than $72 million. Another transaction in the works is a definitive purchase agreement that was signed for the attainment of ETPM, SA, an international offshore construction company.

Global Industries to Acquire ETPM

Global Industries, Ltd. has signed a definitive purchase agreement to acquire ETPM, SA, a leading international offshore construction company wholly-owned by Groupe GTM, the construction affiliate of French utility Suez Lyonnaise des Eaux. The combined company will be the largest offshore construction company in market capitalization with combined 1998 revenues of approximately $1.3 billion. ETPM provides a full range of turnkey services, including design, procurement, fabrication, installation and commissioning of offshore platforms and pipelines. ETPM will be combined with Global's current international operations to create a new International Division. Pierre Laborie, ETPM's current president and COO, will head the new division.

Passenger Carries Hurt

American Classic Voyages Co. subsidiaries Delta Queen will trim its upcoming cruise schedule by a combined total of 27 cruises. Delta Queen Coastal Voyages will eliminate three cruises in 2001. Also, the 2002 summer and fall schedule of the 174-passenger Delta Queen will be enhanced to meet passenger demand for more variety. Moody's Investors Service confirmed the A2 senior ratings of Carnival Corporation, but changed the rating outlook to negative reflecting the uncertain economic and industry conditions that the company faces in the wake of the attacks on the U.S. Moody's believes the events of September 11 will further stress industry conditions that were already suffering from price weakness.

Harkand Appoints New CEO

Internatioanl subsea inspection, repair and maintenance (IRM) group Harkand announced the appointment of John Reed as its new chief executive officer as it embarks on the next stage of its ambitious growth strategy. Reed, an industry veteran with more than 30 years’ experience in the offshore engineering and construction sector, will lead the development of the company as it drives forward with its target of growing turnover to $1 billion in the next five years. Due to take over the reins in October, he replaces Nicolas Mouté who steered the group’s formation since inception and through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management and the acquisition of Veolia Marine Services.

Global Announces New Vice Presidents

Global Industries, Ltd. announced that it has appointed three to vice presidential positions. Eddie J. Evans has been named to the position of Vice President - Health and Safety. This new position reflects the importance Global places on safety in the workplace and its integral role in Global's success. Mr. Evans joined Global in January 1998 as Corporate Director of Safety responsible for all safety and health measures worldwide. He came to Global from J. McDermott Morgan City Operations where he directed or managed safety, risk insurance, and personnel matters. Evans brings over twenty-four years experience in marine engineering and construction. in Carlyss. Global also announced the appointment of James F. Gallagher to the position of area vice president -West Africa.

First Containership Receives LR Cyber Notation

COSCO Aries (Photo: COSCO Shipping)

The newly built containership MV COSCO Shipping Aries, recently delivered to COSCO Shipping Lines, is the first ever containership to receive Lloyd’s Register’s (LR) cyber-enabled ship (CES) descriptive note “Cyber AL3 SECURE PERFORM” for its energy management system. The 20,000 TEU ship was built by Nantong COSCOS KHI Ship Engineering Co., Ltd (NACKS). “MV COSCO Shipping Aries is the first 20K TEU level ultra large containership built in Chinese shipyard owned by COSCO Shipping Container Lines.

Global Results for the Q2 2009

Global Industries, Ltd. (NASDAQ:GLBL) announced revenues of $294.8m for the second quarter of 2009 compared to $300.5m in the second quarter of 2008. Net income was $45.9m, or $0.40 per diluted share, for the second quarter of 2009 compared to a loss of $14.1m, or $0.12 per diluted share, in the second quarter of 2008. Commenting on the second quarter results, Chairman and Chief Executive Officer John A. During the second quarter of 2009, the company booked $116.4m of new work resulting in a backlog of $215.6m as of June 30, 2009. Commenting on the backlog results, John Clerico stated, "We are continuing to bid new projects on a worldwide basis and pursue opportunities with our key relationship customers.

Road Map to Boost Singapore Maritime Industry

Dr Lam Pin Min, SMS, Ministry of Transport and Ministry of Health, at the PSA ‘Intelligent Port of the Future’ Exhibition showcasing the transformation of port operations through technology and innovation. Photo:  Maritime and Port Authority of Singapore

Dr Lam Pin Min, Senior Minister of State (SMS) for Ministry of Transport and Ministry of Health, launched the Sea Transport Industry Transformation Map (ITM) at the annual Singapore Maritime Foundation New Year Cocktail Reception. Developed by the Maritime and Port Authority of Singapore (MPA) in partnership with the industry, unions and other government agencies, the Sea Transport ITM builds on MPA’s strategic long term plans to develop Singapore’s next-generation port and strengthen our international maritime centre (IMC).

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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