Thursday, August 24 2000
Rig famine in 2001?
"The new cash has not been spent on drilling wells, however, but on defending their balance sheets, buying back shares and competing with high growth technology stocks" In addition to the impact on the oil supply, van Mourik said the spending collapse over the past two years is also affecting the deep-water rig market..
"Poor day rates have made contractors
wary of committing to further building of new rigs,'' van Mourik
said. "As a result, we predict that the available fleet
will be insufficient again shortly to cope with increasing demand
and develop the potential of all those deep water fields. The
ultra deepwater segment, 5,000 ft water depths and beyond, is
the leading indicator here and that segment is already in physical
Western Gulf lease sale attracts $154
million in high bids
Hyundai Heavy Industries creating shipbuilding
The Web page will interface with HHI's main computer systems, Hi-CIM APP, a comprehensive suite or applications for heavy industrial design, manufacture and project management.
HHI has selected Persistence PowerTier software to facilitate the rapid deployment of a new Java application that will provide the information services to shipowners. The system has been installed by Infron Technologies, Persistence Software's distributor in Korea.
"PowerTier will be instrumental in upgrading various areas of Hi-CIM APP; particularly those aspects where we want to interface with our web-based information system for customers and associates," said HHI senior manager Kang Min Suk. "Through this new development, we will be able to offer our customers an advanced user-friendly tool to plot the progress of their projects."
Problems at Harland & Wolff
Harland & Wolff says "the absence of money due on completed contracts and the uncertain orderbook situation has placed the very future of the yard at risk."
Harland & Wolff says its management and board are "addressing alternatives in order to create a new opportunity for the company to establish a viable offshore and shipbuilding future," but warns that any proposal will inevitably involve a sbstantial reduction in employees."