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Frangou scans S&P scene
Unsettling trends in sale-and-purchase environment on exec’s radar as Navios Holdings prepares for prudent expansion push.
USCG photo of the blaze.
Explosion rocks the US Gulf
US Coast Guard (USCG) helicopters have launched a desperate search for 12 missing crew members who were onboard an offshore oil rig that exploded in the US Gulf.
Transocean's semisubmersible drilling unit Deepwater Horizon (built 2001) is still on fire 40 miles off the coast of New Orleans, Louisiana, the USCG said Wednesday.
One hundred twenty-six people onboard the Horizon have been rescued but four helicopters and five Coast Guard cutters continue to search for the missing.
Seven critical injuries have been reported. Two crewmen were medevaced by helicopter to West Jefferson hospital in New Orleans.
Transocean's rig is serving a contract with BP. Early reports suggest the Swiss drilling outfit's emergency response vessels are participating in the ongoing rescue operation.
The cause of the explosion which occurred at approximately 10:00 pm Tuesday night is still under investigation.
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