To: LastShadow who wrote (4298 ) 12/12/1997 12:04:00 AM From: Jenna Respond to of 120523
Watch List Dec 12: NIAG,ABS,CXIPY*,PIR,HERB,CUNO,CMGI,RAD,TRBC,AVP,SPYNquote.yahoo.com news stocks after the close: CFON,BJS,SDG (FDA did not give the go ahead for their spinal fusion aid www1.newsalert.com so look for some further upside on SPYN) *The Coflexip Stena Offshore Group to Significantly Increase Fleet <CXIP.PA> The Coflexip Stena Offshore Group to Significantly Increase Fleet Capacity PARIS, France, Dec. 11 /PRNewswire/ -- The following was released today by Coflexip Stena Offshore: 1) Ultra Deepwater Installation Vessel Coflexip Stena Offshore (Nasdaq: CXIPY) announced today that it has completed on December 10th the acquisition of a 168m long, 27m beam conventional ship, the "Kitty". The Group is planning an extensive conversion program of the ship into a multipurpose ultra deepwater installation vessel. The converted vessel would be used for both laying flexible and rigid pipes as well as for riser installation. She would also be capable of performing various subsea construction works, thus offering maximum flexibility. She will be fitted with state-of-the-art pipelay and remote intervention equipment and dynamic positioning capability of the highest industry standard. 2) Charter of a New DP Multipurpose Vessel Coflexip Stena Offshore has also announced that it has agreed with the Norwegian shipowner Solstad a 5-year charter commencing March 1999, with option for a further 10 years, on a purpose built vessel of 270t bollard pull, fitted with anchor handling winches up to 500t, helideck, working moon pool for vertical laying system (VLS) and/or ROV, foundation for 140t crane and accommodation for 67 people. The vessel is also equipped with 150t A-Frame and fitted with the latest DP technology up to NMD Class 2. It will perform trenching activities and will also lay flexible pipe, support diverless construction work and mooring installation. In the interim, under the same agreement, Coflexip Stena Offshore has chartered for a minimum of 100 days starting December 2, 1997, until December 31, 1998, the Normand Atlantic, a DP vessel upgraded for trenching operations. The vessel has already commenced pipeline trenching operations in the North Sea.