Friday, June 2, 2000

Fred Olsen Energy to buy semi Bill Shoemaker
Fred Olsen Energy has entered into a purchase agreement for the drilling rig Bill Shoemaker from Rigco North America LLC. The agreement is subject to ratification of the United States Bankruptcy Court, Southern District of Texas on Monday, June 5.

Bill Shoemaker is a semisubmersible drilling rig of the Aker H-3 design. It was delivered from Aker Verdal in Norway in 1976 as an accommodation/field support rig and was converted into a drilling rig in 1981.

In 1996/97 the rig went through a major upgrade to its accommodations, deckload capacity, anchoring and drilling equipment. The rig is presently equipped for operation in 1,500 feet water depth and, says Fred Olsen Energy, "is well suited for further upgrades for operation in deeper waters."

Bill Shoemaker has previously operated under the names Bredford Dolphin, Bow Drill l and Treasure Searcher.

The rig was last in operation October 1999 and has since been laid up in Long Harbour, Newfoundland where it will be taken over within 30 June 2000. Agreed purchase price is USD 43 560 000.

Royal Caribbean appoints new VP of supply chain management
Royal Caribbean Cruises Ltd. has appointed Michael Allsup as vice president of supply chain management. He'll be responsible for overseeing worldwide procurement and logistic activities for both Royal Caribbean International and Celebrity Cruises. He will focus on developing new initiatives to streamline the company's purchasing and logistics activities, working closely with its suppliers, and internal offices such as Total Guest Satisfaction and Marine Operations.


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