To Question or Not to Queston

I heard recently that a Nobel Peace Prize winner (I forget who, I didn't ask) grew up in a house where his dad didn't ask 'what did you learn at school today?' but asked 'what great questions did you ask at school today?'

This is apparently the secret to raising a super smart and Nobel Peace Prize winning human being.

The Engineer has a friend or relative (I forget which, I didn't ask) who when they took their child to the doctor would make the kid ask the doctor a question.

I never ask questions.  I don't think I was ever that curious.  I am the sort of person who accepts whatever I am told.  Pretty much a salesperson's dream. I just shrug and agree with everything they say.

The Engineer is completely the opposite. 

He asks TOO many questions.  When we first started dating he asked questions about everything.  Mundane weird things.  When I asked him why he asked so many questions he replied 'that's how you learn!'.

I guess so.  But I thought most of his questions were annoying.

Although I must admit they did make me think.  And wonder more about  . . . .  dogs as that's what most of his questions pertain to.

How do dogs know other dogs are dogs?
Do dogs know the difference between feet and hands?
When do dogs decide to growl or bite? 
How come dogs can't see themselves in the mirror?
How do you know when Mr. Mop wants to poop?

(this is the one question I have been able to answer in full much to the surprise of the Engineer.  But if you have a dog you just know when they are about to go!)

Why can't he be more accepting/non-curious like me?

It would make life so much easier and non-confrontational.

Unlike these examples:

Engineer:  Why does a wedding cost this much?
Sarah:  It just does.
Engineer:  Why though?
Sarah:  Because it's how much a wedding costs.
Engineer:  But why does it cost this much money? Is there anything cheaper?
Sarah: NO!  THIS IS HOW MUCH WEDDINGS COST AND IF YOU WANTED TO KNOW WHAT THE MONEY GOES TOWARDS THEN YOU SHOULD RESEARCH WEDDINGS AND SEE HOW MUCH THEY COST!!!!!!!!!!!!!!
Engineer:  Why are you yelling?
Sarah:  Because you are asking stupid questions.
Engineer:  How will I learn if I don't ask?

Or

Engineer:  Why do we need a first dance?
Sarah: We just do.
Engineer:  But why do we have to?  Can't we just skip it?
Sarah:  NO!  It sets a precedent for the party and people expect it.
Engineer:  But why?  I thought we were doing non-traditional.
Sarah:  Because we have to do some traditions.
Engineer:  But why?  What does a first dance mean?
Sarah:  WE JUST DO!  I WANT TO DO IT AND IT'S NICE AND SHUT UP!!!
Engineer:  Why are you yelling?
Sarah:  Because you are stupid.

or

Engineer:  Why do you want live music for the ceremony?
Sarah:  Because I do.
Engineer:  Why?
Sarah:  Because I've dreamt of walking down the aisle forever and I always imagined live music.
Engineer:  But we aren't live music sort of people.  Why are you being so traditional?
Sarah:  Why are you being so annoying?

I guess I do ask questions after all.

I wonder if it's too late for a Nobel Peace Prize.

Las Vegas Outlet goes Premium.

By Jennifer Robison - LAS VEGAS REVIEW-JOURNAL

A major local outlet mall is receiving a high-end makeover.

Simon Property Group is refashioning its Las Vegas Outlet Center, at 7400 Las Vegas Blvd. South, into an upscale shopping destination similar to the Las Vegas Premium Outlets center it owns downtown. The company is even renaming both properties to reflect the changes, anointing them Las Vegas Premium Outlets-South and Las Vegas Premium Outlets-North. The expansion of the southern center is scheduled to open for business on March 17, after nine months of construction.

"We are pleased to be expanding Las Vegas Premium Outlets-South not only to fulfill merchant demand for space, but also to satisfy shoppers' desire to have an even greater selection of brands at impressive savings," said Alexandra Goranson, area marketing director for Simon's Premium Outlets portfolio, in a statement. "We are thrilled that our center is providing new and exciting outlet stores, as well as supporting the community by creating new jobs and assisting in the overall economic growth for the area."

Improvements at the Las Vegas Boulevard center will add 70,000 square feet of space, bringing the property to 540,000 square feet. Thirteen new tenants will come on line as well, taking the center past 140 stores. Among the stores scheduled to debut in March are Guess, New Balance, True Religion and Under Armour. Michael Kors, Loft Outlet and Coach Men's will follow in April. Puma and Toys R Us will also open outposts at the center, though Simon executives didn't give firm opening dates for either company.

In all, the expansion will create more than 100 new retail jobs, Simon officials said.

Simon wouldn't disclose how much the company is spending on the upgrades.

But tenants at the center said investing in remodeling is a good strategy, even as consumer spending and visitor volumes in Las Vegas remain below their prerecession highs.

"I think it's a great time for the expansion, because the south Strip area is growing. This is a hub area between Mandalay Bay and the M Resort," said Rob Mullaney, owner of Hi-Lites Salon and Beauty Store. "It's also good to take advantage of challenging economic times to improve the physical building, bring in new retailers and create a better all-around experience. It gives us a leg up on the competition, because our center is newer and upgraded. Not a lot of retail centers in Las Vegas can say that right now."

Mullaney said he expects his business to increase 10 percent to 12 percent in the 18 months after the expansion's opening.

At Uniform Sports, which sells licensed team apparel and accessories, sales should also improve in the two years following the unveiling of the mall's new brand, store owner Bruce Mianecki said.

The Liz Claiborne store across the way from Uniform Sports has cleared out, but the space is set for takeover by an upscale retailer of men's and women's clothes and accessories. The change should bring in a demographic better suited to Mianecki's store, he said.

"If they've got the funds to do it, this is a great time to expand," Mianecki said. "Retail is on the rise in the Las Vegas Valley. Everyone I know in retail has posted gains since last year."

Renaming the 18-year-old property should also help with brand identity, Mianecki said.

"Having the 'premium' name will make a difference," he said. "Everyone still calls us Belz," a reference to prior owner Belz Enterprises, which operated the center as the Belz Factory Outlet Mall. Belz sold the center to Chelsea Property Group in 2003, and Simon bought Chelsea in 2004.

Since it acquired the property, Simon has slowly been making over the mall's tenant list. Gone are the tool sellers and kitchen-goods retailers, replaced by trendy brands including Coach, DKNY, Sean John and Kenneth Cole.

"I think customers are looking more for clothes than, say, dishes," Mullaney said. "The tenant mix has changed nicely over the last three to four years, into the kinds of brands and shopping experiences that people are looking for today."

But Mianecki said the transformation has left less room for smaller, individual retailers such as Uniform Sports, and he's concerned that trend will continue. His lease is good for another four years, but his rent rates jump 3 percent a year, and he frets that when it's time to renew his deal, lease rates might skyrocket so much that he'll have to move.

"It seems like they're squeezing the mom and pops out like all the other big boys do. They're looking at more corporate-type stores," Mianecki said. "I feel that's bad. The bottom line is, businesses like mine are the backbone of the United States. Small to medium businesses are what made this country great."

On top of adding space and stores, Simon is painting the mall's interior, expanding its parking lot and replacing inside lighting with high-efficiency compact fluorescent fixtures to lower the property's energy use.
In addition to both Las Vegas Premium Outlet malls, Simon owns the Forum Shops at Caesars.

New tenants for Oklahoma City outlet mall.

By Steve Lackmeyer - The Oklahoman

Another 18 stores and restaurants are joining the lineup at the Outlet Shoppes at Oklahoma City, developer Horizon Group Properties announced Friday.

The latest tenants for the mall, being built at Council Road and Reno Avenue, include J. Crew, Talbots, Christopher & Banks, Vans, Oakley, Haggar, Gold Toe, Bose, Rack Room, Fragrance Outlet, Claire’s, Zumiez, Dazzle Nails and Spa, Famous Footwear/Factory Brand Shoes, Orange Leaf Yogurt, Perri’s Pizzeria, Primo’s and Rice Garden.

Construction continues on Outlet Shoppes of Oklahoma City, near Council Road and Reno Avenue. Photo by Jim Beckel, The Oklahoman Archive

Another 18 stores and restaurants are joining the lineup at the Outlet Shoppes at Oklahoma City, developer Horizon Group Properties announced Friday.

The latest tenants for the mall, being built at Council Road and Reno Avenue, include J. Crew, Talbots, Christopher & Banks, Vans, Oakley, Haggar, Gold Toe, Bose, Rack Room, Fragrance Outlet, Claire’s, Zumiez, Dazzle Nails and Spa, Famous Footwear/Factory Brand Shoes, Orange Leaf Yogurt, Perri’s Pizzeria, Primo’s and Rice Garden.

The 65-acre development is scheduled to open in August, with previously announced tenants including Nike, Saks Fifth Avenue OFF 5TH, Brooks Brothers, Guess, Coach, Chico’s, Banana Republic, Gap, Tommy Hilfiger, Under Armour, Levi’s and Carter’s.

Construction on the 348,000-square-foot outlet center began in June.

Built in a shopper-friendly racetrack design, the center will have covered walkways, landscaped courtyards, a food court, children’s play area and a center court stage with fountains and other amenities, the developer said.

EOC BAGS SIZEABLE US$45M PIPELAY PLATFORM INSTALLATION CONTRACT FROM CHEVRON

EOC Limited (EOC or the Group), a leading provider of offshore oil and gas (O&G) support services in Asia, has secured a sizeable pipelay and platform installation contract from new clients - Chevron Offshore (Thailand) Limited, Chevron Thailand Exploration and Production, Ltd and Chevron Pattani, Ltd – which are subsidiaries of Chevron Corporation, one of the world’s leading integrated energy companies.
[Read More]
Source: Cision Wire

Pacific Rubiales says Colombia well drilling a success

Canadian oil firm Pacific Rubiales Energy Corp said drilling at its Apamate-1X well in Colombia showed positive results.
[Read More]
Source: Reuters

Concho Resources to sell its Bakken assets for $196 mln

Independent oil and natural gas company Concho Resources said it agreed to sell its North Dakota Bakken assets for $196 million to Linn Energy .
[Read More]
Source: Reuters

Gastar Exploration Acquires Additional Marcellus Shale Acreage in Liquids-Rich Area of West Virginia

Gastar Exploration Ltd. (NYSE Amex: GST) today announced that it and its joint venture partner, Atinum Marcellus I LLC ("Atinum"), have leased an additional approximate 3,300 gross acres in Marshall County, West Virginia to develop the liquids-rich Marcellus Shale formation.  Under the joint venture agreement, Gastar will pay 45% of the lease acquisition cost for a 50% interest.  Initial drilling and completion activities on this acreage will be eligible for the drilling carry that is a part of the previously announced joint venture between Gastar and Atinum.
The acreage is located at PPG Industries' Natrium, West Virginia chemicals site along the Ohio River and provides excellent access to water and natural gas infrastructure.  As operator, Gastar expects to begin drilling during the second half of 2011 and has identified as many as 30 locations to be drilled over the next several years.
J. Russell Porter, President and Chief Executive Officer, stated, "We are pleased to add PPG's acreage to our Marcellus portfolio, and we look forward to getting operations underway later this year.  This lease, when combined with our existing leasehold in Marshall and Wetzel counties, helps Gastar create a large and mostly contiguous block of acreage within an area that is ultra-rich in natural gas liquids and condensate yields."
Source: Press Release

Saudi Aramco CEO says extra oil supply needs met

All demands for extra oil have been met, Saudi Aramco [SDABO.UL] CEO Khalid al-Falih told reporters on Monday, following promises from the leading exporter last week it would fill any supply gap left by Libya.
[Read More]
Source: Reuters

Petrobras Profit Surges 38% on Oil Production

Petrobras Profit Surges 38% to Record on Brazil Oil Production
Petroleo Brasileiro SA, the world’s third-largest oil company by market value, said fourth-quarter profit surged 38 percent to a record after production increased.
[Read More]
Source: Bloomberg

BP sues UK gov for £300m over decade-old tax bill

BP is suing the British government for just under £300m in compensation for a "disputed duty" that it paid on a deal made in 1999. It is backed by US bank JP Morgan and third claimant Guaranty Nominee.
[Read More]
Source: First Post

Red Hill South well to spud today

Norwest Energy NL announces that the Red Hill South – 1 well in the TP/15 Permit expects to spud today.
[Read More]
Source: fortbridge

Colombia oil line attacked

Colombia's Cano Limon-Covenas oil pipeline, transporting around 80,000 barrels per day (bpd), has been attacked but exports have not been affected, a source at state-run Ecopetrol said on Saturday.
[Read More]
Source: Reuters

Dart Energy Announce Early Acquisition Of Composite Energy Limited

Global coal seam gas company Dart Energy Limited (ASX:DTE) is pleased to announce that it has agreed to acquire the 90% of Composite Energy Limited ("Composite") that it does not already own for approximately US$46.7 million. The consideration will be satisfied by way of issue of approximately 35.9 million new Dart shares to the current shareholders of Composite and the issue of approximately 5.6 million new Dart-J Class options to existing Composite optionholders (largely being Composite employees). The new Dart shares to be issued will represent approximately 6% of Dart's enlarged share capital.

This transaction represents an acceleration and replacement of the previous arrangement entered into in August 2010 whereby Dart had an option to inject US$5m into Composite in January 2011 for an additional 10% of Composite, and then an option to acquire the remaining 80% of Composite prior to June 2011 for US$56 million payable in Dart shares, or cash or a mix of both.
Source: Press Release

Egypt gas to Israel to resume by March 4 -Ampal

Egyptian gas supplies to East Mediterranean Gas and its clients in Israel are expected to resume by March 4, Ampal-American Israel Corp said on Sunday.
[Read More]
Source: Reuters

Seadrill Orders, Secures Contracts for Two Tender Rigs

Seadrill Ltd., the owner of the world’s second-largest fleet of deepwater rigs, placed a $225 million order for two tender rigs from China’s COSCO Nantong shipyard for delivery in 2013.
[Read More]
Source: Bloomberg

China to Support Greek Shipowners with USD8bn-10bn

China is willing to provide a financial support for Greek shipowners having their ships built in Chinese shipyards, which will raise from earlier USD 5 billion to between USD 8 billion and USD 10 billion, citing Ioannis Diamantidis, Greek Minister of Maritime Affairs.
[Read More]
Source: TMC.net

EUNAVFOR warship evacuates casualty from merchant vessel in Indian Ocean

Late on the evening of 23 February, EUNAVFOR warships in the Arabian Sea were alerted that an incident had occurred on board a German owned container vessel, 155 Nautical miles South East of the island of Socotra, resulting in burns to one of the crew.
[Read More]
Source: gCaptain

Libyan protesters control oil fields

Libyan protesters have gained control over the country's oil fields as thousands of Libyans, demanding the ouster of Muammar Gaddafi's regime, are advancing towards the capital Tripoli, reports say.
[Read more]
Source: Press TV

DSME to construct the first wind tower

Korean company Daewoo Shipbuilding & Marine Engineering （DSME）announced that it will launch the first production of wind turbine towers at its manufacturing plant located in  Pictou County, Nova Scotia, Canada.
[Read More]
Source: Seatrade Asia

Pirates hit tanker off southern Malaysia

A Liberian-registered tanker was robbed by pirates while anchored off southern Malaysia early on Sunday morning. The tanker, Simon, was anchored 2.1nm south-southwest of Pulau Mungging, Malaysia when it was boarded by five pirates armed with machetes and handguns at 04-35hrs on Sunday morning.
[Read More]
Source: Seatrade Asia

Enerplus posts small loss for Q4

Enerplus Corp. reported a small fourth-quarter loss, weighed down by higher financing charges and softerthan-expected hedging gains, the company said Friday.
Net loss in the quarter hit $995,000 or a penny per share, compared with a net profit of $2.72 million in the fourth quarter of 2009.
[Read more]
Source: Calgary Herald

DHMI to raise $35m for newbuilding

Daewoo-Mangalia Heavy Industries (DMHI), a jv between Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) and Mangalia Shipyard in Romania is going to securitize account receivable to invest newbuilding.
[Read More]
Source: Seatrade Asia

Eurasia Сanal project delayed

The construction of a navigable canal connecting the Caspian Sea and the Azov-Black Sea basin (Eurasia Canal) has been postponed until Kazakhstan's cargo base is warranted, Russia’s Deputy Transport Minister Viktor Olersky said in an interview with journalists, PortNews reported.
[Read More]
Source: Baird Maritime

BP says to shut Angolan Plutonio oilfield in April

A BP spokesman said the oilfield was now pumping around 90,000 barrels per day (bpd), close to half its average output since it came on stream in 2007.
[Read more]
Source: International Business Times

Baltic index rises, capesize market seen pressured

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, turned barely positive on Friday, although sentiment was expected to remain weak due to a
[Read More]
Source: Reuters

US Regulators State Refusal To Restart Drilling Despite Political Pressure

Interior Secretary Ken Salazar said that U.S. regulators would not bow to political pressure to restart deepwater drilling in the Gulf of Mexico before they are certain the oil-and-gas industry is capable of containing an oil spill like the one that followed last BP’s Deepwater Horizon disaster.
[Read more]
Source: Gcaptain

IP and Hempel follow Jotun's price rise

Following Jotun’s announcement of a coatings price rise, another two manufacturers have announced price rises due to escalating raw material costs.
[Read More]
Source: Tanker Operator

Hanjin Shipping takes delivery of two new containerships

South Korea-based Hanjin Shipping has taken delivery of two 8,600TEU class containerships named Hanjin Hamburg and Hanjin New York.
[Read More]
Source: Trading Market

Overcapacity unlikely in 2011 as recovery will continue – NOL

Neptune Orient Lines (NOL) has played down concerns over excess tonnage in 2011 that could drag down container freight rates and spoil the fairy-tale recovery story.
[Read More]
Source: Cargonews Asia

Hapag-Lloyd looks to find 'anchor investor' with April IPO

THE owners of Hapag-Lloyd will aim for a initial public offering in mid-April with a target valuation of US$5 billion, according to the German carrier and its major shareholders TUI and the Albert Ballin consortium.
[Read More]
Source: Sea News

Piracy threatens Europe’s supply of jet fuel, diesel

Pirate attacks are starting to distort world fuel trade, threatening supplies of jet fuel and diesel to Europe from Asia, because higher premiums for shipping make trade uneconomic.
[Read More]
Source: Independent Online

Madagascar navy rescues pirate-seized vessel

Madagascar's navy Sunday towed into Antsiranana port a hijacked Comoros-flagged vessel almost a week after its captain and two suspected pirates arrived on the island to seek help, an official said.
[Read More]
Source: AFP

Petrobras begins extended well test in pre-salt of Marlim Leste field in Campos Basin

Petrobras announces the start up of the Extended Well Test (EWT) for the Tracajá reservoir, located 124 km off the coast of Rio de Janeiro, in the pre-salt area of Marlim Leste field, in Campos Basin.
[Read more]
Source: Penn Energy

Dry bulk ship owners unfazed by market’s downturn, keep newbuilding orders in focus

Even though the dry bulk market, in terms of earnings underwent one of the slowest year starts in history, with the industry’s benchmark, the Baltic Dry Index posting consecutive falls for weeks, up until February, ship owners kept on ordering new vessels, in a clear indication that they believe in the market’s long term prospects, while also can’t ignore today’s low values of vessels, which are acting as a lure for many. As a result, during January, a total of 148 vessels were ordered for a total capital consideration of $7.7 billion, according to a new analysis from shipbrokers Golden Destiny.
[Read More]
Source: Hellenic Shipping News

Investments of NOK 65 billion to increase recovery in the Ekofisk Area

The Norwegian Ministry of Petroleum and Energy today received Plans for Development and Operation (PDO) on the Ekofisk and Eldfisk fields. The projects (Ekofisk South and Eldfisk II) will entail investments in the region of NOK 65 billion.
[Read more]
Source: Scandinavian Oil & Gas Magazine

Salamander Energy announces Bualuang field operational update

Salamander Energy plc is pleased to announce a reserves upgrade to the Bualuang oil field and the commencement of its drilling programme in the B8/38 licence, Gulf of Thailand. Salamander is operator and holds a 100% interest in the B8/38 licence.
[Read more]
Source: Your Oil & Gas News

Hyundai lands $1.2bn FPSO

Hyundai Heavy Industries has landed an offshore newbuilding order worth more than $1bn from BP.
[Read More]
Source: Asiasis

Statoil announces subsea contract propels fast track ambitions

Statoil picks up the pace towards realizing fast track field developments offshore Norway.
A contract signed recently with Technip for marine operations and pipelay on the Gygrid field development in the Norwegian Sea is proof.
“This agreement moves us one step closer to realising Gygrid, planned to start during 2Q 2011 and begin producing as soon as late 2012/early 2013,” says Halfdan Knudsen, vice president project management, Development and production Norway.
[Read more]
Source: Subsea World

Daewoo to meet $15bn orders

Korea's Daewoo Shipbuilding & Marine Engineering is expected to score a maximum of $15bn in new orders for this year.
Kim Hong-keun, researcher at Seoul-based Dongbu Securities, says, "Daewoo has been ensured to build a bunch of boxships for Denmark's Maersk, already securing $2.35bn in new orders so far this year, which is 21.4% of its new order target for this year."
[Read More]
Source: Asiasis

Subsea 7 wins $60MM contract to link Ensign to Audrey in the North Sea

Subsea 7 S.A. announced the award of an engineering, procurement, installation and commissioning contract from Centrica Energy Upstream for the flowlines and subsea works on the Ensign Project, approximately 18km North West of the Audrey ‘A’ platform, located over Block 48/14 and 48/15 of the UK Sector of the North Sea. The contract is valued at approximately $60 million and is part of Subsea 7’s long-term partnership agreement with Centrica Energy Upstream.
[Read more]
Source: Penn Energy

Leading Subsea Company Attracts Global Interest

Brisk business has been reported by Aberdeen-based Ecosse Subsea Systems, following the Subsea 2011 event in the city recently.

First-time exhibitors Ecosse Subsea Systems have announced interest from across the globe in all divisions of the company, particularly the £500,000 SCAR specialist trenching plough which was on display at the event.

[Read more]

Source: Subsea World

Study lists Alaska Arctic OCS development's potential benefits

Development of resources in the Chukchi and Beaufort seas off Alaska’s Arctic coast would create an average 54,700 jobs/year nationwide with a $145 billion total payroll and generate $193 billion in federal, state, and local revenue over 50 years, according to a study by Northern Economics Inc., Alaska’s largest private economic consulting firm, and the University of Alaska at Anchorage’s Institute of Social and Economic Research.
[Read more]
Source: Oil & Gas Journal

Lukoil, Vanco win Black Sea blocks

LUKOIL Overseas and Vanco International are set to jointly explore two blocks in the Romanian sector of the Black Sea.
The duo has signed concession agreements with Romania’s National Agency for Mineral Resources for the Est Rapsodia and Trident blocks. LUKOIL Overseas will have an 80% interest and Vanco International 20%.
[Read more]
Source: Penn Energy

China's biggest offshore construction yard expects to post loss

The Board of CIMC Raffles Offshore (Singapore) Limited said Friday that it expects to report a loss for the financial year ended December 31, 2010. CIMC Raffles Offshore, now a subsidiary of China International Marine Containers (Group) Co. Ltd., owns and manages the biggest offshore construction shipyard in China via its subsidiary, Yantai CIMC Raffles Offshore Ltd.
[Read More]
Source: Marine Log

IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte.

JAPAN PRESS: IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte. Ltd to construct offshore oil rigs to survive stiff competition with South Korean makers, the Nikkei reports. IHI will oversee overall rig design and make the floating structures at its Aichi factory while Jurong will take charge of final assembly of plants for extracting crude to be attached at its Singapore facility, the report says. By combining its design capabilities with Jurong's cost competitiveness, IHI hopes to catch up to its South Korean competitors, it says.
Source: Automated Trader

Major Offshore Project Activity Grants Bright Future for Dockwise (The Netherlands)

Dockwise Ltd., a world leader in heavy marine transport, today publishes results for the three month period and full year ended 31 December 2010.
After a tough year, Q4 was a quarter of healthy performance. The quarter saw the successful completion of the offshore Transport & Installation project Vyborg, a USD 100 million contract, and the logistics  management project Koniambo. 
[Read more]

Source: Offshore Energy Today

Doosan Engine Orders May Double on Ship Pickup, Non-Marine Push

Doosan Engine Co., the world’s second-largest maker of ship engines, said orders may more than double this year as shipping lines resume fleet-enlargement plans and the company works to expand its non-marine businesses.
[Read More]
Source: Bloomberg

More ships, less new orders for shipbuilders

Global oversupply of ships has made new shipbuilding orders hard to come by for local firms and that’s affecting revenue visibility
[Read More]
Source: livemint

The Deepsea Bergen contract is signed

Statoil and Odfjell Drilling have signed the contract for «Deepsea Bergen» commencing in June 2012.
Odfjell Drilling was awarded a Letter of Intent from Statoil in October last year for the utilization of «Deepsea Bergen» for development drilling on the NCS. The contract is now signed.
[Read more]
Source: Odfjell Drilling

Northern Offshore announces new contract award for Jackup Energy Endeavour

Northern Offshore, Ltd.  today reported that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Maersk Olie og Gas AS ("Maersk"), for the jackup Energy Endeavour.  The award is subject to approval by the Danish Energy Authority.  The contract, for operations in the Danish Sector of the North Sea, has an initial duration of one year and is scheduled to commence in early April 2011.  Maersk has options to extend the contract for up to two further years. The contract value for the initial term is US$25.6 million.
Gary W. Casswell, Northern Offshore's president and CEO, said, "Maersk has a long history with the Energy Endeavour, and we look forward to providing the rig to them again under Northern Offshore's management."
Source: Press release

FoundOcean awarded Troll P12 project in the North Sea by Subsea 7

FoundOcean will manufacture and install two fabric formwork grout bags to support the expected freespan of the new 36” pipeline at the approach to the Troll A Platform, in the Norwegian Sector of the North Sea. The worksite is in approximately 330m water depth.
[Read more]
Source: Scandinavian Oin & Gas Magazine

Rowan Companies Inc. Has Gapped Up To A New High After Q4 Report

Rowan Companies Inc. reported fourth quarter net income of $0.45 per share Friday morning, compared to $0.53 per share last year. Results for the latest quarter included $0.03 per share of net gains on debt redemptions and asset disposals, compared to $0.01 per share of asset disposal gains in the year ago quarter. The consensus estimate was for EPS of $0.29.
[Read more]
Source: RTT News

MirTac succesfully implemented Star at underwater specialist Seatec

MirTac has successfully completed the implementation of asset management system Star IPS at Seatec. MirTac supports Seatec in her maintenance, safety and audit operations for her diving and ROV projects.
[Read more]
Source: Logistics Week

Sonde Resources Corp. Announces: - REVISED TERMS AND THE CLOSING OF THE SALE OF LIBERTY NATURAL GAS LLC

Sonde Resources Corp. announced today that it has completed definitive documentation and closed the previously announced sale of Liberty Natural Gas LLC (the "Company") which owns a 100% working interest in the Liberty Natural Gas LNG project (the "Project") to an entity related to West Face Capital Inc. (the "Purchaser"). The transaction closed on February 22, 2011.
Subsequent to Sonde's January 28, 2011 press release with respect to the proposed sale, the Office of the Governor for the State of New Jersey publicly issued a statement indicating that it would not approve a licence for the Project. In light of the increased uncertainty regarding the Project the terms of the transaction were renegotiated with the Purchaser agreeing to assume control over the Project's future. Pursuant to the sale, Sonde received a U.S.$1.0 million cash payment upon closing in respect of reimbursable expenses, and is entitled to receive deferred cash consideration of U.S.$12.5 million payable upon the Company's first successful gas delivery.
West Face Capital Inc. is a Toronto-based institutional investment manager with over $1.5 billion in assets under management.
In addition, Sonde has increased the maximum amount available under its credit facilities with National Bank of Canada by an additional $20 million (Cdn) in the form of development demand loan. This will assist Sonde in its continued drilling program in Western Canada.
Source: Press release

Malaysia: Petronas Extends Contract with Tanjung Offshore for 3 Offshroe Support Vessels

Tanjung Offshore Services Sdn Bhd (TOS), a wholly owned subsidiary of Tanjung Offshore Bhd, has been awarded a contract extension from Petronas Carigali Sdn Bhd for the provision of three units of offshore support vessels (OSV).
[Read more]
Source: Offshore Energy Today

CGGVeritas Joint Ventures

CGGVeritas has signed a term sheet with JSC Geotech to create a joint venture to operate 2D and 3D marine seismic vessels, primarily in Russian and CIS waters, and with Elnusa to carry out 2D and 3D marine seismic surveys, in Asia Pacific Region, with main focus in Indonesia.
[Read more]
Source: Hydro International

Tanger reports year end results for 2010

Company Release - 02/22/2011 16:15

Tenant Sales Increase 6.6% for the Year

Same Center NOI Increases 3.7% in the Fourth Quarter

GREENSBORO, N.C., Feb. 22, 2011 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc.(NYSE:SKT) reported its financial results for the quarter and year ended December 31, 2010.

Steven B. Tanger, President and Chief Executive Officer, commented, "2010 was highly productive and successful for our company, and our retail tenants. We expanded our portfolio with the November opening of our newest center in Mebane, North Carolina, achieving record opening traffic and sales. Our balance sheet was the beneficiary of an over-subscribed $300 million senior notes transaction in June and $400 million in unsecured revolving lines of credit in December. Our dividend continues to be well covered by our operating cash flow."

National Portfolio Continues to Drive Operating Results

During 2010, Tanger executed 416 leases, totaling 1,649,000 square feet relating to its existing, wholly-owned properties. For the year, 1,217,000 square feet of renewals generated a 9.2% increase in average base rental rates, and represented 83.4% of the square feet originally scheduled to expire during 2010. Average base rental rates on re-tenanted space during the year increased 25.9% and accounted for the remaining 432,000 square feet.

Tanger continues to derive its rental income from a diverse group of national brand name manufacturers and retailers with no single tenant accounting for more than 8.4% of its gross leasable area and 6.6% of its total base and percentage rentals.

Same center net operating income increased 3.7% for the fourth quarter and 2.6% for the year ended December 31, 2010 compared to the same periods in 2009. This follows same center annual net operating income increases of 1.4% in 2009, 4.1% in 2008, 5.3% in 2007, 3.1% in 2006, and 3.8% in 2005.

Tanger's broad geographic representation and established brand name within the factory outlet industry continues to generate solid operating results. The company's portfolio of properties had a year-end occupancy rate of 98.4%, compared to 96.0% for the same period in 2009. This represents the 30th consecutive year since the company commenced operations in 1981 that it has achieved a year-end portfolio occupancy rate at or above 95%. 

Reported tenant comparable sales for the company's wholly owned properties for the rolling twelve months ended December 31, 2010 increased 6.6% to $354 per square foot. Reported tenant comparable sales for the three months ended December 31, 2010 increased 5.9%. Tanger's average tenant occupancy cost as a percentage of average sales was 8.3% for 2010 compared to 8.5% in 2009, 8.2% in 2008, 7.7% in 2007, 7.4% in 2006 and 7.5% in 2005.
  
Investment Activities Provide Potential Future Growth

On November 5, 2010, Tanger opened its newest center in Mebane, North Carolina located on Interstate 85/40 between the Triad and Triangle, just in time for the 2010 holiday season. This 319,000 square foot center opened, 100% occupied, to record breaking crowds.

Just a few of the 80 brand name and designer outlet stores found at the new Mebane center are Banana Republic, BCBG/Girls, Carters, Coach Factory, J. Crew, Gap Outlet, Nike Factory Store, Polo Factory Stores, QVC, Saks Fifth Avenue OFF 5th, and Tommy Hilfiger.

The redevelopment of the company's Hilton Head I center in Bluffton, South Carolina is projected to open on March 31, 2011, with grand re-opening activities planned for the weekend of April 1-3, 2011. Currently, this center has leases signed or out for signature on 91.5% of the leasable square feet. When completed, the new 176,000 square foot center, with an additional four outparcel pads, will be the first LEED certified green shopping center in Beaufort County. The company's other property on Highway 278, Hilton Head II, remains open during the construction and redevelopment of Hilton Head I.

On January 17, 2011, Tanger announced the identification of three projects where it is planning to build outlet shopping centers. Located in League City (Houston), Texas and Scottsdale and West Phoenix, Arizona, the projects are currently in the predevelopment phase. When Tanger achieves the minimum pre-leasing Phase I thresholds of at least 50%, it is anticipated that ground breaking ceremonies will take place shortly thereafter. Grand opening activities for the projects will take place about a year after the start of construction.

On January 24, 2011, Tanger announced that it has entered into a letter of intent with RioCan Real Estate Investment Trust ("RioCan"), to form an exclusive joint venture for the acquisition, development and leasing of sites across Canada that are suitable for development or redevelopment as outlet shopping centers similar in concept and design to our existing Tanger U.S. portfolio. RioCan is Canada's largest REIT exclusively focused on retail real estate. Any projects developed will be co-owned on a 50/50 basis and will be branded Tanger Outlet Centers. To meet Tanger's top retail partners' demand for growth in the Canadian market, the joint venture intends to develop as many as 10 to 15 outlet centers in large urban markets and tourist areas across Canada over a five to seven year period. The overall investment of the joint venture is anticipated to be as high as $1 billion, assuming a fully built out basis with parameters similar to Tanger's existing U.S. portfolio.

FOR THE COMPLETE REPORT FOLLOW THIS LINK

Restoration firm sues Opry Mills owners for $3.6 million.

Photo by LARRY McCORMACK / THE TENNESSEAN

by Bonna Johnson - The Tennessean

Interstate Restoration LLC is suing the owners of Opry Mills mall for $3.6 million, saying its company wasn't fully paid for water removal and cleaning work it did after May's flooding at the still-closed shopping center. 

The Texas-based restoration firm said it was not paid for labor, materials and services associated with water extraction and cleanup work at the mall through October, according to a complaint filed in Davidson County Chancery Court. 

The company is suing Simon Property Group, along with Opry Mills Mall Limited Partnership and a German bank that acts as its commercial lender, for breach of contract as well as intentional misrepresentation and conspiracy to commit fraud.

The legal complaint says the mall knew it was "under-insured for the property damage sustained because of the flood, and thereafter knew that an insufficient amount of insurance proceeds would be available to pay Interstate for the work" performed in a second phase of cleanup.

It also says the mall's owners knew they "were so severely under-capitalized that these entities did not have the ability to pay Interstate."

Simon Property Group issued a statement saying, "Simon Property Group looks forward to defending ourselves vigorously since we believe this lawsuit lacks merit. In particular, the spurious allegations of misrepresentation and fraud are unfounded and represent the worst kind of overreaching by plaintiffs and their attorneys."

The mall's owners are already tied up in a multimillion-dollar lawsuit involving their insurance coverage. That case isn't scheduled for trial until February 2012.

The owners are suing their insurers over a remaining $150 million in insurance proceeds that the mall says it needs to complete repairs. The insurers argue that the coverage is limited to $50 million already paid out.

Interstate's lawsuit said its work at the mall was divided into a first phase that included removing water, demolition and the drying of spaces, and a second phase that included other cleaning work. Simon Property approved the restoration firm's pricing and charges for Phase II on or about July 28, according to the Chancery Court complaint.

Steve Tanger on Mad Money

Norway. STX Europe 4Q 2010 strong improvement

Successful IPO in Singapore of STX OSV Holdings Limited ("STX OSV") - the former Offshore and Specialized Vessels division. STX Europe maintain a 69.02% equity stake in STX OSV which currently has a market capitalization of approx. NOK 6.0 billion.
[Read More]
Source: BYM Marine & Maritime News

Japan may offer SBQ plates at USD 1000 FOB to Korean shipbuilders

TEX reported that Japan's integrated steelmakers are expected to offer prices beyond USD 1,000 per tonne FOB when they start negotiations this week on their export deals of ship plates for shipments to South Korea in the April to June 2011 quarter. If the offer prices go through, the new prices would top USD 1,000 per tonne FOB in Japanese ship plate exports to South Korea for the first time since the April to June quarter of 2008.
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Source: Steel Guru

Aban JV in contract for early redelivery of drillship

Aban Offshore, which provides offshore services to the oil sector, said on Friday its joint venture, Venture Drilling AS , has signed an agreement for early redelivery of a drillship to its Russian owner. 
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Source: Economic Times

China Sinopec to participate in Brazil oil rounds

China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be restarted after the passage of a reform of the country's oil law expected this year.
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Source: Reuters

Pennsylvania Gas Well Blast Injures 3 Workers

An explosion and fire at a gas well injured three workers Wednesday night, authorities said.
The blast, at the Chesapeake Appalachia LLC Powers site in Avella, was reported at about 6:20 p.m., Washington County emergency officials said.
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Source: FoxNews

Anadarko shuts Ivory Coast operations

Anadarko Petroleum Corp shut its Ivory Coast operations in February because of political unrest in that country, the U.S. oil and gas company said Wednesday in a filing with regulators.
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Source: Reuters

Repsol 2010 net income triples to 4.69 billion euros

Repsol posted net income of 4.693 billion euros for 2010 compared to 1.559 billion euros in the previous year. Excluding extraordinary items, recurring net profit improved 54.9% to 2.360 billion euros.
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Source: Your Oil & Gasn News

Daewoo hopes another 10 boxships

Korea's Daewoo Shipbuilding & Marine Engineering seems to obtain optional 10 boxships of 18,000 TEU with ease from Denmark's AP Moller-Maersk no later than May.
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Source: Asiasis

ATP Announces Strategic Expansion into Offshore Israel

ATP Oil & Gas Corporation is expanding its deepwater operating and infrastructure expertise to offshore Israel. Subject to approval of the Ministry of National Infrastructures (MNI), ATP has signed agreements to acquire five licenses, of which two are pending, in approximately 4,000 feet of water.
T. Paul Bulmahn, Chairman and CEO stated, “The strategic use of our deepwater technical expertise in Israel is one facet of ATP’s global diversification plan. Each license offers an attractive opportunity in the Levantine Basin which is emerging as a prolific area. The recently announced discoveries in offshore Israel totaling approximately 25 Tcf of natural gas have demonstrated a significant catalyst for the offshore hydrocarbons sector. ATP’s ability to enter this area during the early stages of exploration and development is a great testimony to our expertise and commitment to worldwide offshore acquisition and development. This also enhances our future ability to acquire and develop desired proved undeveloped assets in this region. Israel is working towards energy independence and security of its natural resources by encouraging domestic offshore exploration and production.”
ATP will operate all its licenses with working interests ranging from 40% to 50%. Upon the award of the licenses, expected before the end of March 2011, ATP will discuss its estimated capital program projected to be minimal in 2011 and resource potential for the acquisitions.
Source: Press release

Chinese upgrade shipbuilding-tech

Chinese shipbuilders, who used to flood the market with a huge amount of newbuildings, are increasingly moving to high value-added ships that require high technology, threatening Korean counterparts.
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Source: Asiasis

Pirates say they’re bolstering 30 hijacked ships with men

Pirates in Somalia said Wednesday they are ferrying ammunition and men to the 30 hijacked vessels still under their control, and they threatened to kill more captives after the violent end to a hostage standoff that left four Americans dead.
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Source: Safety 4 Sea

Eni: new successful well at super-giant Perla gas field, offshore Venezuela

Eni announces the successful results of the Perla-4 appraisal well, located in the Cardón IV Block in the shallow water of the Gulf of Venezuela. This well upgrades the estimate of gas in place of the Perla field, a super-giant gas discovery, to over 16 Tcf (2.9 billion barrels of oil equivalent). 
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Source: Your Oil & Gas News

KR plans to increase inspection charge

Korean Register of Shipping (KR) is planning to lift the vessel inspection fee that has not been increased for three years due to the recent shipping and shipbuilding industries' depression.
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Christchurch quake: Lyttelton Port badly hit

Lyttelton Port was one of many Canterbury companies counting the cost of the earthquake last night.
The port received major damage, said chief executive Peter Davie.
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Source: nzherald

Australia's LHD01 hull launched in Spain

The hull of the first of the Royal Australian Navy’s two new amphibious ships has been launched in Spain.
“These ships are officially known as Landing Helicopter Docks or LHDs and are the largest the Australian Navy has ever owned,” Chief of Navy Vice Admiral Crane said at the launch at the Navantia dockyards at Ferrol in northern Spain.
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Source: Baird Maritime

P&I Club warns on fire preparedness

The London P&I Club says the response to two recent onboard cargo fires has highlighted the value of both fire-fighting training and realistic shipboard drills for ships’ crews.
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Source: Motorship

Jumbo Shipping decommissions Fairmast

After almost three decades of transporting heavy lift and project cargo, Jumbo's Fairmast will be the first of its two D-Class vessels to be decommissioned.
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