TIMAS 1201
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US-operated pipe-laying GLOBAL 1201 detained in Malaysian Waters
Malaysian Maritime Enforcement Agency (MMEA) on Aug 1 detained three vessels in Pengerang waters. Bunkering tanker MAJU 8 was detained for the lack of required papers on board. Pipe-laying vessel GLOBAL 1201 and moored at her side tanker SENTEK 26 were detained on a suspicion of unauthorized fuel ship-to-ship STS fuel transfer in Malaysian waters. All detained ships face fine penalty.
French Technip to buy Global Industries for $1.07 billion
French offshore engineering giant Technip said it will acquire subsea construction and pipe laying specialists Global Industries for $1.07 billion. Technip will pay $8 cash for every outstanding share of Global, a 55 percent premium over the closing share price on Friday. The $1 billion price tag includes assumption of $136 million in debt. Global has two new s-lay vessels, the Global 1200 and Global 1201, which can lay 60-inch diameter, concrete-coated pipelines in nearly 10,000 feet of water. http://fuelfix.com/blog/2011/09/12/technip-to-buy-global-industries-for-1-billion/
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