Member Info for smith10

Plenty of pictures of the finished rig....

preparing myself to read that they have written off their investment in the JV to nil from associates losses :(. I thought the rig on the open market would be worth $110m rather than RMB110 m. still with cash and loan due from MGR it's worth over 10p a share. got far too many of these

If we don't receive the final balance for payment, do we sell the rig to recoup the balance of the contract value, whilst keeping the client's payments to date?

disappointing day....

http://www.yzjship.com/news_info.asp?id=127 anuary 18, Yangzijiang Shipbuilding Group, the owner of the company to build Qatar's first jackup rigs held a grand naming ceremony in Taicang Yangtze offshore oil and gas equipment Limited. Ms. Helen godmother named the seat rigs "Explorer I".           Taicang Municipal Committee Mr. Gu Xiaodong, deputy mayor Miss Lu Yan, Amedeo Resources Pic. Mr. CEO Glen, Darren Mr. Vice President, Greater China Classification Society, chairman of Yangzijiang Shipbuilding Industry Group Mr. Ren Yuanlin, general manager Wang Jiansheng Mr. attended the naming ceremony.         As the Yangtze River shipping industry group to achieve industrial transformation into the starting point of large and high-end offshore engineering equipment market, but also the Group and Qatar Shareholders successful cooperation crystallization, Super 116E jack-up drilling platform project by the Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangtze River Marine Oil and Gas Equipment Co., Ltd. joint construction at the end of 2012, I was the first group to undertake offshore drilling platform, is located in the Yangtze River shipping industry Group Taicang base completed the first export project. The platform is to be completed since the commencement of the contract, made ABS class certificates, with the delivery conditions, which lasted 3 years. The completion of the platform fully proved the Yangtze River Marine team is fully capable of undertaking and construction meet international standards for marine engineering projects, but also shipowners, classification societies, shipyards and sincere cooperation model.            Group Wang Jiansheng, general manager at the naming ceremony, he thanked Qatar partner for our full confidence and support, thank the owner supervision group headed by Mr. Halim, ABS Mill Office and Cameron and other equipment suppliers to give great help and support, and thanks to Wu Yiwen, general manager and deputy general manager Liang Guoming based marine services engineering team and the team's hard work and great efforts. Special thanks to Taicang Municipal Government, and the Maritime Port Development Zone Administrative Committee and other relevant departments in the Yangtze River marine base the entire process from construction to construction products give us an unusual full support and help!                  After the naming ceremony, the group also discussed the main leaders Taicang Marine Group I base the next development plan with the Standing Committee of Taicang City, Gu Xiaodong and his party leaders in a meeting.

Yangtze River marine first jackup rigs SUPER 116E, which lasted four days, on the evening of November 26, 10:00, the successful completion of the rig, cantilever weighing slip two major nodes. All the indicators are to meet specification requirements, and obtain unanimous approval of the owner ship inspection. November 23, the 24th completed the cantilever and drill floor weighing, rig, cantilever total weight 1470 tons. This means that cantilever drill floor and the installation is nearly complete, while the completion of spray paint, and the dismantling of scaffolding. Izod success from the beginning of the position slip to 70 feet maximum position, rig left 2000 mm, 4572 mm right, work performance throughout the cable chain, slip motor, hold devices and related systems are intact.  Currently, all the staff and immediately put into the ship with a load lifting preparatory work.

Any thoughts about fleet disposal? Look well below NBV on balance sheet

July 2, the Yangtze River as EXPLORER 1 marine construction SUPER 116E jack-up rigs in Taicang base successfully completed leg of close work. The construction of the drilling platform is the first to explore the Yangtze River shipping industry in marine areas, but also for the Yangtze River opened the door to the marine market.       SUPER 116E jack-up drilling platform has three leg in the shape of a square truss, 145.553 meters per leg length (including the pile boots), weighs about 1,001 tons (excluding pile shoe). In the form of leg structure, combined with floating crane's lifting capacity, in ensuring the safety of the case, each leg remaining nine total group into three segments, each approximately 30.5 m total group segment, weighing about 215 tons . The method used is then pile then pile of floating state, namely jackup not connected in piles of folded leg work carried out under the platform floating state. Then pile this method is more complex than the traditional pick pile, because the hull is floating, closed process, the force platform will be gradually increased due to the uneven, easily lead platform tilt, affecting close precision, you need real-time monitoring Draft Platform's condition, kept adjusting the ballast, so the platform to maintain balance. Then pile group staff on call 24 hours, shipowners, ship inspection full cooperation to overcome the weather and other unfavorable factors, which lasted 16 days, the successful completion of this important task then pile.       This work is the Yangtze River marine team and innovative achievements, but also to meet the Group's cost reduction and conservation, energy conservation ideas, but since the construction of the history of the jack-up platform is leading initiatives

Agreed...fall too low, rather the company liquidated

Hopefully updates on progress soon... "The steel cutting of the Super 116 E jack-up drilling platform was started in August 2013 in Jiangsu New Yangzi Shipbuilding of the group, keel laying in the slipway of Taicang Yangzi offshore on April 8, 2014, carry out the integration erection, equipment installation and commissioning. It is expected to complete erection in August 2014, main generator commissioning and ready for launch before the end of 2014, after launch before the Spring festival of 2015, start the equipments commissioning and leg uplift test, delivery to the owner in August 2015"