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The mid picture on the left of this post I am responding to, is what I expect the BSLs to look like when completed
Hi Littlefish. Some where on this board are pictures (2009) of the previous BSLs when they first arrived @DeepDown. They were unpainted also, then dpdw worked on them, added a number of attachments, sent them out to be painted, had a number of inspections by other Cos. personel ,taking of photos,attaching anti-
corrosion metals, then they were sent to the shipyard in Singapore where they were attached to the FPSO.
Still holding, long and strong.
Check my weekly reports for the pictures, all the reports are linked to each other. I am guessing the stainless steel BSLs will be seen in one.
link to article and chart
http://www.whatamimissinghere.com/archives/26923
I don't care to be bashed by you for my investment in this company.
It's my money, it is my choice. It is my decision.
You got me on that one, I am not sure what the difference is between
ABS & DNV certification.
http://en.wikipedia.org/wiki/Classification_society
It is obvious the year portion of the date is set wrong on the camera.
The photos were taken by:
Photos courtesy of:
Douglas Haisten
Cowles, Murphy, Glover & Associates
We know the assembly is taking place this year and month from several other sources. Specs screenshot of the pieces leaving DDI, Brwnwater's trip and photos, the award, and the Google photo.
I would assume that is part of the award winning carousel?
Sure, no problem. I really love the work you've done on the i-box so far, the first photo of the offices is a real eye catcher! The information links are much easier to find and use now.
Keep up the fine work.
long and strong
" Hopefully, Cuming is working on their ISO and then looking to get certified with Petrobras. "
So upon completion of that certification, Cuming would cut out the middleman and potentialy pocket the difference?
Deep Down became ISO certified
Flotation Technology is ISO certified
There is no reason for Cuming not to be working on their ISO.
selling to a third party that is selling
So Cuming cuts out the middleman and pockets the difference?
That should translate nicely to their net profit and would allow them some flexibility on pricing.
If you take a look at the picture and caption (center fold) in this Cuming Events Newsletter, it may offer some clue.
http://www.cumingcorp.com/pdf/Spring-NL4-23-09a.pdf
PetroRig 1 Wins Five Year Contract from Petrobras
http://www.rigzone.com/news/article.asp?a_id=35007
Something may have happened with petroRig1 regarding a suit by bondholders, I did not look at the history, only noticed whose product was loaded for the maiden voyage.
Yes it is very interesting.
http://www.deepdowncorp.com/DeepDown/cameras.php
"feather in DPDW's cap"
1. often these feathers come from de tail,
the devil is always in the detail.
Delaware corp, formed 12/02/2010
Entity Details
File Number: 4906594 Incorporation Date / Formation Date: 12/02/2010
(mm/dd/yyyy)
Entity Name: FLOTATION INVESTOR, LLC
Entity Kind: LIMITED LIABILITY COMPANY (LLC) Entity Type: GENERAL
Residency: DOMESTIC State: DE
Additional Information is available for a fee. You can retrieve Status for a fee of $10.00 or
more detailed information including current franchise tax assessment, current filing history
and more for a fee of $20.00.
Would you like Status Status,Tax & History Information
http://www.corp.delaware.gov/default.shtml
"Anyone know if..."
Richard McCreary, president and CEO of Marinette Marine, said that beginning next spring, the company will be able to recall about 180 employees laid off due to a shortage of work. The littoral combat ship contract award was initially planned for late summer.
"It secures the future for all of our employees going forward for many, many years," he said shortly after 9 p.m. Tuesday.
McCreary said Marinette Marine still needs to hash out the contract with the Navy, Lockheed Martin, suppliers and subcontractors by the end of the year.
"We are very hopefully by the end of the year we will have this signed, sealed and delivered," he said. "This is huge for our community and for our company and our nation."
U.S. Rep. Steve Kagen, D-Appleton, called congressional approval "the biggest Christmas gift possible" for Marinette.
http://www.greenbaypressgazette.com/article/20101222/GPG03/12220723/1247/Marinette-Marine-contract-to-build-Navy-ships-OK-d
-end of quote from article @ above link-
ElectrowaveUSA was involved in the previous ship build, I just checked and they are still listed as a Fed Vendor.
Time will tell. jmo etc.
The Margarita I and the Josefa Rufina I will become the world's largest floating power generation facility when installed side-by-side. The two power barges were built at Signal International's shipyard in Orange, Texas. The generation facility is comprised of two floating power plants and each is installed with a single GE 7FA gas turbine generator. The completed plant will generate much needed power to Caracas, Venezuela and surrounding areas
http://www.wallermarine.com/float.html
http://www.wallermarine.com/current.html
Launching of the vessels at Orange culminated a fast-track engineering, procurement and construction program undertaken by Signal and Waller to design, construct and deliver the two power barges, each having an output of 171 MW (ISO). This was accomplished within a 180-day period.
Spec, my PACER account is still active and ready to look through some of those tea leaves. If you have some names in mind, drop me an email and I will search for related court documents.
Ya, I am still in the background reading every post here, always appreciate the great dd by some here on THE Deep Down board.
-will compromise three subsea centers tied-back to a production hub-
Looks like production hub is the correct answer.
Oct. 2010 - Chevron and partners have sanctioned the Jack/St. Malo field development in the ultra-deepwater Walker Ridge area of the Gulf of Mexico. Initially, the project will require an investment of about US $7.5 billion and will compromise three subsea centers tied-back to a production hub. The facility will have a production capacity of 170,000 bopd and 42.5 MMcf/d of natural gas. Deliveries of subsea equipment are scheduled to begin in the third quarter of 2011 and continue through the second quarter of 2013.
http://www.rigzone.com/news/article.asp?a_id=100426
Deep down is all about innovation in the area of drilling. If you have followed this company for any length of time you see their innovative ideas in practically every product manufactured, from Morays® and
SDB® (Subsea Deployment Systems) to their various installation methods and Syntantic Foams. Often times when there is a drilling problem to be solved,
Deep Down is asked to come up with a solution.
A very good example would be the JOIDES Resolution scientific drilling vessel.
When someone makes the statement, "Drilling technology is one of the areas where U.S. industry continues to lead the world" know that DPDW
has played an important part in that technology!
"It was no surprise that Chile chose the firms to assist in the effort, said Greg McCormack, an oil drilling consultant who formerly headed the University of Texas' Petroleum Extension Service. Drilling technology is one of the areas where U.S. industry continues to lead the world, he said."
http://www.usatoday.com/news/world/2010-10-14-chileside14_ST_N.htm
Did DPDW have a direct part in the rescue in Chile?
Not that I know of.
Have Deep Down investors been showered in financial reward for their part in growing DPDW?
It sure has not happened yet.
Aug news..
(2 must see links below "rendering of the carousel" and "tip-27.jpg")
fwiw
HOUSTON, Aug. 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced it has teamed up with Core Industries ("CORE") to permanently locate a 3,200 MT Carousel System (the "Carousel") at CORE's deepwater port facility near Mobile, Alabama. The Carousel is currently under construction and will be ready in the fourth quarter 2010. CORE's deepwater port in...
http://article.wn.com/view/2010/08/25/Deep_Down_3200_Metric_Ton_Carousel_System_Will_Be_Located_on_0/
Deep Down 3,200 Metric Ton Carousel System Will Be Located on Alabama Gulf Coast at Core Industries' Theodore Industrial Port
HOUSTON, Aug. 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced it has teamed up with Core Industries ("CORE") to permanently locate a 3,200 MT Carousel System (the "Carousel") at CORE's deepwater port facility near Mobile, Alabama. The Carousel is currently under construction and will be ready in the fourth quarter 2010.
CORE's deepwater port in Alabama is an ideal location for Deep Down to provide its customers with umbilical storage capability on its Carousel, which in turn provides substantial savings to the customer when mobilizing for an offshore job. The customer will be able to spool the umbilicals onto the installation vessel and simultaneously load out the vessel with the remaining requirements. Deep Down will also be able to perform full scale Systems Integration Testing ("SIT") and have installation equipment on site that supports the Carousel available to rent to installation contractors for immediate mobilization.
Ronald E. Smith, Chief Executive Officer stated, "Teamed with Core Industries' marine handling capabilities at their deepwater facility and Deep Down's innovative deepwater services and equipment make up a combination of 'Can-Do' contractors which could very well become the premier staging area for the ultra-deepwater Gulf of Mexico and a launching pad to areas even further South. I am proud to place our Carousel and supporting equipment at Core Industries and offer the kind of services to our customers they deserve. The simple fact that we can perform SIT and other valuable testing of systems offline so that we can find the problems before they become the customers deepwater problems will be an incredible project safeguard that will bring added value to our customers." Morgan B. Myles, President, Core Industries, Inc., stated, "We are pleased to add Deep Down, Inc. to the list of innovative deepwater oil and gas installation contractors who call Core Industries facility, Theodore Industrial Port, their Base of Operations. We are excited to work with Deep Down and its talented team for the installation of their new storage carousel and look forward to providing our facility and services for Systems Integration Testing and other Deep Down projects. We have no doubt that much success will come for both companies from hosting this Carousel and that the result will be the highest quality project."
About Deep Down, Inc.
Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. More information about Deep Down is available at www.deepdowncorp.com.
About Core Industries, Inc.
For more than 25 years, Core Industries has delivered quality services to the Oil, Gas and Pipeline Industries. CORE's Port facility, Theodore Industrial Port, has served as Base of Operations for many of the deepwater oil and gas installation contractors working in the Gulf of Mexico. The port's facilities are used by these contractors to store and mobilize or demobilize specific project equipment to and from their Gulf of Mexico projects, as well as abroad. CORE and its facility has hosted many of the GOM Double Joint and Quad Joint fabrication projects over the last 10 years as well as provided the Single Joint receiving and finished product load outs for those projects. Our superior service, proximity to the Gulf of Mexico, and true understanding of the industry allow us to provide a professional, competitive and strategic logistical advantage to our clients. CORE's proven track record of versatility and competency in handling complex operations has earned us a strong reputation in the Oil and Gas Industry. For more information on Core Industries or Theodore Industrial Port, please visit our websites www.coreindustries.us and www.theodoreport.com, contact us at 251-660-6800, or e-mail us at info@coreindustries.us.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
SOURCE Deep Down, Inc.
http://www.prnewswire.com/news-releases/deep-down-3200-metric-ton-carousel-system-will-be-located-on-alabama-gulf-coast-at-core-industries-theodore-industrial-port-101464019.html
CORE
http://coreindustries.us/about-core/
A rendering of the carousel for oil and gas umbilicals that Deep Down Inc. plans to build in Theodore, Ala.
http://media.al.com/press-register-business/photo/core-industriespng-a7eda58fbb1e212a.png
full story
http://blog.al.com/press-register-business/2010/08/deep_down_inc_to_build_carouse.html
This is a photo posted by CORE of a project at the TIP site:
http://theodoreport.com/wp-content/gallery/theodore-port/tip-27.jpg
http://theodoreport.com/gallery/?album=1&gallery=1&nggpage=2
Who is Core industries?? That is an interesting question.
http://coreindustries.us/newsroom/
Obama loses drilling moratorium appeal
Jul 8 08:48 PM US/Eastern
The Obama administration lost its court bid to maintain a six-month moratorium on offshore deepwater drilling which a federal judge ordered lifted last month.
The Fifth Circuit Court of Appeals denied the government's emergency request to stay that judge's order pending appeal.
The motion was denied because the government failed to show "a likelihood of irreparable injury if the stay is not granted," the appeals panel judges wrote in a 2-1 ruling.
The government also "made no showing that there is any likelihood that drilling activities will be resumed pending appeal."
Interior Secretary Ken Salazar has said he will soon issue a new order to block deepwater drilling regardless of how the court ruled and oil companies have not resumed drilling due to the legal uncertainties.
The court noted that the Salazar "has the right to apply for emergency relief if he can show that drilling activity by deepwater rigs has commenced or is about to commence."
It also ordered that the appeal be expedited so the case can be argued on its merits during the week of August 30.
http://www.breitbart.com/article.php?id=CNG.5812f97c10bdfbe8edaa2f9744f1bba2.41&show_article=1
Darn good detective work there Spec!
You put the story to the picture, that's for sure.
And some people still think posting pictures is a waste, ha, I disagree.
I like your answer, it is the right sentence but the wrong reason.
Privately-held Cuming Corporation was founded in 1980
The reduced capital gains tax will sunset at the end of this year, and return to the high rates of before the Bush tax cut. They will sell this year to beat the increased tax. It is substantial.
jmho
With the current bad press and potential increased regulation regarding drilling in the gulf, is it possible the Cuming's acquisition
is being renegotiated?
Many people believe future drilling will be delayed or impacted, affecting the market somewhat for Cuming's product.
"Department of the Interior officials said in a statement that the moratorium was meant only to halt permits for the drilling of new wells. It was not meant to stop permits for new work on existing drilling projects like the Deepwater Horizon."
In the days since President Obama announced a moratorium on permits for drilling new offshore oil wells and a halt to a controversial type of environmental waiver that was given to the Deepwater Horizon rig, at least seven new permits for various types of drilling and five environmental waivers have been granted, according to records.
The records also indicate that since the April 20 explosion on the rig, federal regulators have granted at least 19 environmental waivers for gulf drilling projects and at least 17 drilling permits, most of which were for types of work like that on the Deepwater Horizon shortly before it exploded, pouring a ceaseless current of oil into the Gulf of Mexico
http://www.nytimes.com/2010/05/24/us/24moratorium.html
Despite this, I do hope DPDW is focused on overseas projects in Brazil and Africa.
There is a case involving a boat company on file, Contract dispute perhaps.
I do not know the outcome, nor do I know if it is even related to the business of DDI. More info is available through pacer if anyone is interested.
Textron Financial Corporation v. Ship and Sail, Inc et al
Plaintiff: Textron Financial Corporation
Defendants: Ship and Sail, Inc, Christine M. Foulkrod, Daniel P. Foulkrod, David P. Foulkrod, Robert E. Chamberlain, Jr, Eugene L. Butler and Ronald E. Smith
Case Number: 1:2009cv00617
Filed: December 22, 2009
Court: Rhode Island District Court
Office: Providence Office [ Court Info ]
County: Providence
Presiding Judge: Judge Mary M Lisi
Referring Judge: Magistrate Judge Lincoln D. Almond
Nature of Suit: Contract - Other Contract
Cause: 28:1332 Diversity-Breach of Contract
Jurisdiction: Diversity
Jury Demanded By: None
Access additional case information on PACER
Use the links below to access additional information about this case on the US Court's PACER system. A subscription to PACER is required.
Access this case on the Rhode Island District Court's Electronic Court Filings (ECF) System
http://dockets.justia.com/docket/court-ridce/case_no-1:2009cv00617/case_id-27412/
If you missed the animation..Here
is a link that should get you there. NBC Nightly News.
The animation is less than a minute(aprox) into this clip.
http://www.msnbc.msn.com/id/21134540/vp/37159321#37159321
Sagedono, I have not had a good chance to look into C-THERM much yet, but I believe that product plays an important part in keeping the Methane Hydrate crystals from forming in these ultra deep wells.
Those crystals are what plagued the first cap attempt at the leaking Horizon well. Without insulation and heat, they can clog all sorts of operating parts and pipes in other wells.
C-THERM
"insulation products manufactured at our New Iberia, LA facility are the highest performance
materials available for protecting ultradeep high temperature wells"
About Us
Trelleborg Offshore Boston, Inc
Originally established in 1948 as Emerson & Cuming Inc. the company was the first to offer a complete line of commercially available aerospace grade glass microspheres through the Eccospheres® glass microspheres brand and has continued to focus the business on material innovation ever since.
Further enhancing the product range, the company developed a wide range of fibre coated macrospheres (0.5 inch diameter hollow spheres) for incorporation into their syntactic foams. This led to the introduction of low density composite syntactic foam systems ideally suited for deepwater buoyancy applications.
Throughout the next four decades, Emerson & Cuming became the largest manufacturer of volume syntactic foam in the world - producing more than 50,000 drill riser and production buoyancy modules.
The company has continued to evolve, achieving ISO accreditation in 1991. In 1995, the composite materials section of the business was separated and sold to become Emerson & Cuming Composite Materials, Inc. This heralded a period of major investment and rapid product development with further expansion into the oil & gas and aerospace markets.
In 2006, the company was acquired by Trelleborg AB through the Engineered Systems business unit. As part of the Trelleborg Group, Trelleborg Offshore Boston, Inc. is able to benefit from a number of synergies including combined research and development programmes, cost efficiency initiatives and production flexibilities.
http://www.trelleborg.com/en/Offshore-Boston/About-Us/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49713724
After Emerson & Cuming was sold to W. R. Grace & Co. in 1978, Dr. Cuming ~~ drew upon his expertise in the use of materials for radar camouflage to embark on a new technological venture, and pursued his interest in real estate development, among other entrepreneurial activities.
The technological venture was Cuming Corp., a company he started in the garage of his home in Sharon. Soon Cuming Corp. was competing head-to-head against Emerson & Cuming, the company that he had been running himself just a few years earlier.
Diagram of the collapsed riser, interesting photo of the riser just downstream from the crimp or kink.
I wonder if enough buoyancy material were placed on drilling risers (ie Cuming and Flotation Tech) would they be self floating or self supporting? Seems like having
an uncrimped riser leaking near the surface would be a much easier situation to deal with.
http://www.flickr.com/photos/uscgd8/4563035602/sizes/l/
Thank for your post 10bagger, I look forward to your experience eye
and scrutiny of the new finance details when they are announced.
An energy trader.
http://www.benzinga.com/media/cnbc/261489/joe-terranova-sees-some-changes-for-oil-drillers-do-esv-rig-bp-apc
http://classic.cnbc.com/id/36945415
http://www.gawkk.com/bp-rises-even-as-oil-gushes/discuss
Typical CNBC, short this and that.
In truth, the Valdez did not end oil tankers, but it sure helped double hull
tanker companies. If anything, deepwater may be required more safety shutoffs, more monitoring systems and more inspections.
Perhaps I will go long Deere, baled hay for the horses, might be one way to play this.
B3, I never even asked for a Tee shirt from DDI.
ibox, Updated news, cleaned some broken links.
Assistant mod positions open now,
last call. If you have an interest, msg me
or just post that you would like to try it.
mod position will be open very soon
I remember the last gulf disaster and the predictions that Deep Down was leveled and would never recover. Funny thing about those pretty pictures was it showed the disaster mongers to be completely wrong. Except for some shingles and a skylight, Deep down came through it all quite well.
With the requirement now that every well in the gulf be inspected,
I think ROVs will be booked for some time.
Some historical info to load into project Veger. vejer?
Dr. William Randolph Cuming, 88
Cotuit —Dr. William Randolph Cuming passed away May 28, 2009 at the age of 88.
Mr. Cuming was born in New York City and grew up in Cedarhurst, on Long Island. After compiling an admirable academic record at the Stevens Institute of Technology in Hoboken, N.J., where he earned a degree in mechanical engineering in 1942, he went to work for the Monsanto Chemical Co. in Everett. He stayed at Monsanto just six months, opting to join the Navy and serve his country in World War II.
Dr. Cuming was assigned to the aircraft carrier Gambier Bay as a lieutenant and radar officer. In October 1944, the carrier was involved in the Battle off Samar in the Philippines. The Gambier Bay was sunk by surface gunfire (the first aircraft carrier ever so destroyed), and Cuming spent two days clinging to a life raft in shark-infested waters before he was rescued. After returning to the US, he completed his enlistment as an instructor in radar and electronics at the Massachusetts Institute of Technology.
After his enlistment, he earned an MBA from Harvard University, and then, with the help of Cherry Emerson, a fellow engineer he had met while at Monsanto, he launched Emerson & Cuming.
In the 1960s, the firm developed and commercialized a product called syntactic foam. This unique product consists of tiny hollow glass spheres called microballoons in a plastic resin binder. (Sometimes, larger plastic spheres called macrospheres are also used). Since this low-density product possesses many special properties, including the ability to withstand high pressure, it was useful as a buoyancy material for the burgeoning offshore oil industry.
E&C's first large-scale project was to supply buoyancy for a drilling program in the Santa Barbara Channel in 1968. Later, the product gained popularity in the oceanographic and marine industries, where it was used on a variety of subsea vehicles, including the Alvin. Today, syntactic foam is the buoyancy material of choice for all applications that require exposure to deep water, i.e., 1,000 feet or more.
By the 1970s, Emerson & Cuming had expanded from its American base into the United Kingdom, Belgium, and Japan. Seven factories and numerous sales offices had been established around the world, and the company had 700 employees.
After Emerson & Cuming was sold to W. R. Grace & Co. in 1978, Dr. Cuming spurned the lure of a comfortable retirement. Instead, he established a public sanctuary for endangered species of birds in Norton, drew upon his expertise in the use of materials for radar camouflage to embark on a new technological venture, and pursued his interest in real estate development, among other entrepreneurial activities.
The technological venture was Cuming Corp., a company he started in the garage of his home in Sharon. Soon Cuming Corp. was competing head-to-head against Emerson & Cuming, the company that he had been running himself just a few years earlier. Today, Cuming Corp. is the world's leading supplier of flotation and insulation materials to the offshore oil and gas industry. Its sister company, Cuming Microwave Corp., manufactures radar-absorbing materials and microwave materials for the electronics and aerospace industries. Among its areas of expertise is stealth technology, and it supplies a variety of parts that are used on the F-35 Joint Strike Fighter and other military aircraft. A subsidiary called Cuming-Lehman Chambers constructs anechoic chambers, which are rooms that are used to measure the radar cross section or radar signature of objects ranging from cell phones to aircraft. The two companies employ 270 people and have factories in Avon, Mass., and New Iberia, La., and sales offices in Houston, Texas, and Chambersburg, Pa.
A busy, hands-on executive, Dr. Cuming was a tireless worker who was still coming into the office right up until a few months before his death, when his health began to fail. He was respected and admired by all who worked with him.
In 1985, Dr. Cuming, along with Frank Sinatra, received an Honorary Doctor of Engineering degree from his alma mater, Stevens. He also received the Entrepreneur Award from Stevens in 2000.
During his later years, Dr. Cuming was a great philanthropist. He gave generously of both his time and his money to a number of worthwhile charities and educational institutions, most notably Stevens. He also served as a trustee at Stevens for many years.
He leaves his wife of 51 years, Ruth (DeVenne) of Cotuit and Boston; a son, John of Boston; and a brother, Alfred of Athens, GA.
Donations in Dr. Cuming's name may be made to either of the following: Stevens Institute of Technology, Castle Point on Hudson, Hoboken, NJ 07030; and the USS Gambier Bay/VC-10 Association, 2228 E. Greenlee Road, Tucson, AZ 85719-2012.
Burial will be private, and a memorial service is being planned.
http://www.barnstablepatriot.com/home2/index.php?option=com_content&task=view&id=18213&Itemid=35
Some gov contracts and also a solicitation posted on Fed Biz for April.
I see Cuming also makes radar absorbing material. Quite a stealthy acquisition up to yesterday.
Cuming has had some Nasa and Air Force contracts in the last few years.
Yes we have room for a few assistants on this board.
Cuming Corp here:
http://www.cumingcorp.com/