R&B Falcon Corporation reported a loss from continuing operations of $22.4 million for the three months ended September 30, 1999, compared with a loss from continuing operations of $28.2 million for the three months ended September 30, 1998. The loss for the quarter is directly attributable to reduced demand for drilling services, particularly in the shallow and inland water segments. Average fleet utilization for the third quarter of 1999 was 39 percent compared to 64 percent for the same quarter in the preceding year. For the nine months ended September 30, 1999 average fleet utilization was 40 percent compared to 77 percent for the same period in 1998. Revenues were $29.3 million lower in the third quarter of 1999 compared to the same quarter in the preceding year despite contributions of $62 million from Cliffs Drilling Company which was acquired in December, 1998. Revenue decreases were primarily related to the shallow water and inland water segments and resulted from lower dayrates and rig utilization. Operating expenses were $56.4 million lower in the current quarter than in the same quarter of the prior year. Excluding $57.4 million of third quarter operating expenses attributable to Cliffs Drilling Company, operating expenses were $113.8 million lower in the third quarter of 1999 compared to the same quarter of the prior year and reflects cost reductions, lower rig utilization and the cold stacking of some units
Bollinger Fourchon, LLC, a subsidiary of Bollinger Shipyards, demonstrated its ability to modify or repair offshore jack-up drilling rigs quickly and cost effectively, with three recently completed projects. One project, for R&B Falcon Drilling, Inc., involved the replacement of jet piping (which blows away sand and mud around the rig legs for easier movement) and the fabrication and erection of an interior bulkhead on the Cliffs 150 rig in just eight days.
To those not familiar with the New York metropolitan area — the eastern end of Long Island is demographically multi-faceted. Traveling east on the Long Island Expressway, (the Island' main thoroughfare), the 118-mile long island, splits into two "forks," the North and the South. With the hamlets of Greenport and Orient Point situated on the easternmost points of the island on the north, the South Fork boasts the tony Hampton villages and the historical village of Montauk Point — literally the
With the arrival of calmer springtime weather, Titan Salvage has resumed wreck removal operations in Gibraltar on the New Flame following a busy first quarter in which the company responded to eight salvage opportunities. Among them were the re-floating of the bulk carrier Fedra's forward section in Gibraltar, the re-floating of a general cargo vessel grounded on environmentally-sensitive coral reefs of southern Belize; and the safe delivery of a tank ship involved in a collision and fire off
J. Ray McDermott, Inc., a subsidiary of McDermott International, Inc., and Bay Ltd. have formed a strategic alliance to pursue fabrication projects in the offshore oil and gas industry, using McDermott's Harbor Island facility near Corpus Christi, Texas. Under the alliance, J. Ray McDermott will provide overall project management, engineering and procurement services, as well as the assembly areas, lifting equipment dredged slip and bulkhead at Harbor Island.
M/Y Ronin, the 192 ft. Lurssen owned by Oracle Corporation founder/CEO Larry Ellison, has arrived at Knight & Carver Yacht Center and is now undergoing a refit project scheduled for completion by August 2005. According to Captain Steven Bates, the project's emphasis will be on extensive audio/visual and IT upgrades, cabinet carpentry throughout all state rooms, re-caulking of the teak decks and hull paintwork. A full-time crew of Knight & Carver's tradesmen has been assigned to Ronin
12 Graduate from GSSC Shipfitter Boot Camp and Have Jobs Waiting for Them. In November 2011, 18 individuals started an intensive 10-week shipfitter boot camp that was developed by the Gulf States Shipbuilders Consortium (GSSC) to prepare workers for entry-level employment in the maritime industry. Before an invitation was extended to participate in the training program, candidates completed prequalification activities that included drug testing, WorkKeys® assessments
NRF Calls on President Obama to Immediately Intervene to Prevent Port Strike. The National Retail Federation has issued the following statement from NRF Vice President for Supply Chain and Customs Policy Jonathan Gold on the breakdown of contract negotiations between the International Longshoremen’s Association and the United States Maritime Alliance, Ltd.: “It is extremely disheartening to learn that the two sides failed to reach an agreement during today’s
An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil
Buccaneer Energy contextualizes termination of its contract with Archer Drilling as project manager of work on one of its jack-up rigs. The contract was for Archer Drilling to act as project manager of modifications and repairs to the Endeavour-Spirit of Independence jack-up rig owned by Kenai Offshore Ventures, LLC, which is a joint venture between Buccaneer, Singapore based Ezion Holdings Limited and the Alaska Industrial Development and Export Authority (“AIDEA”)
Representative Eric Feige from the Alaska State Legislature presents a letter of commendation to the 'Alert's crew for their rescue tow of drill barge 'Kulluk'. The captain and crew were recognized for their courage, teamwork and professionalism during the emergency rescue tow of the drill
Newpark Drilling Fluids, a wholly-owned subsidiary of Newpark Resources, has opened its new world headquarters and laboratory facility in Katy, Texas. Newpark Drilling Fluids President Bruce Smith joined his executive staff in welcoming employees to their new home.
Ocean Rig UDW Inc, a global provider of offshore deepwater drilling services, announced that it has received a Letter of Award for its ultra deepwater drillship “Ocean Rig Skyros,” from a major oil company. The Letter of Award is for five wells or a minimum of 275 days contract for
AnTech Ltd, an engineering company that provides directional coiled tubing drilling (DCTD) services, announced that it has secured a substantial investment from Saudi Aramco Energy Ventures (SAEV) and London-based Calculus Capital, following an initial investment from eCORP
UK-based Ensco has ordered an additional advanced-capability DP3 ultra-deepwater drillship based on the Samsung GF12000 hull design. The vessel, ENSCO DS-10, will be the eighth Samsung DP3 drillship in the Ensco fleet, further extending the benefits of Ensco’s fleet standardization
"Germany and the EU cannot possibly have world-class efficient commercial ships manned by Filipinos today, and world-class efficient ships without Filipinos onboard tomorrow", said Vice President of the Philippines Jejomar Binay at a Maritime Round Table held at the Head Offices of
China's Ministry of Transport has dispatched "Haixun 01" from Shanghai to make goodwill visits to Australia, Indonesia, Myanmar and Malaysia. The vessel will carry out communication activities and promote bilateral and multilateral drills and work exchanges
Maersk is launching a new computer game called Quest for Oil. Maersk is taking the lead in an innovative way by using a video game to open up the oil business to everyone. Quest for Oil is the first game of its kind and with the convergence of forces
Keppel delivers its 45th KFELS B Class jackup rig with another 18 such rigs on order. These KFELS B Class rigs make up more than 30% of the total jackups completed globally since 2000. The rig was delivered to Arabian Drilling Company (ADC) 14 days ahead of schedule
Maersk Drilling receives two-year term extension for newbuild jack-up rig 'XL Enhanced 2'. Det Norske Oljeselskap ASA (Det norske) has on behalf of the partners in the Ivar Aasen project, exercised its contractual right to extend the contract for the newbuild ultra harsh environment
Offshore energy services provider Jaya Holdings Ltd. announced that the Group has signed contracts for three of its four newbuild platform supply vessels (PSVs) ahead of their delivery dates from the shipyard. The total value of these three contracts is more than $60 million
Claxton Engineering Services Ltd., an Acteon company, has appointed Nicholas Dale as business development manager for Southeast Asia. Based in Singapore, where Claxton is establishing its latest operational facility, he will focus on increasing the company’s penetration into the area’s
The NTSB recently investigated an accident that required the crew to abandon a weather-damaged liftboat in near-hurricane-force conditions. Several problems leading up to and during the vessel abandonment negatively impacted the 10 crewmembers’ probability of survival once they were in
ABB, a power and automation technology group, has secured an offshore marine industry contract covering electrical power and propulsion systems onboard a DP class 3 Drill Ship to be conferred with "Enhanced Reliability" and Dynpos Autro notation from Det Norske Veritas(DNV).
U.S. Coast Guard Rear Admiral Joseph Servidio, Assistant Commandant for Prevention Policy and Bureau of Safety and Environmental Enforcement (BSEE) Director James Watson signed a Memorandum of Agreement (MOA) for regulating mobile offshore drilling units (MODU) on the Outer Continental Shelf (OCS)