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IMO is looking at a global levy (tax) on marine fuels. Do you think this is

a really good idea
an unfortunate necessity
a bad idea
a really bad idea

Marine Log

July 3, 2008

Atwood Oceanics negotiating semi contract at Jurong

Houston based Atwood Oceanics, Inc. (NYSE: ATW) says that its wholly-owned subsidiary, Atwood Oceanics Pacific Limited, has conditionally exercised an option to construct an ultra-deepwater semisubmersible drilling rig with Jurong Shipyard Pte. Ltd. ("Jurong") in Singapore and is presently negotiating a construction contract with Jurong.

The rig is to be built based on the Friede & Goldman Ex-D Millennium Dynamically Positioned Semisubmersible design for a water depth rating of 10,000 feet.

The construction contract is subject to satisfaction of certain conditions precedent which are required to be satisfied prior to July 30, 2008.

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