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Songa Offshore reports that it has finalized a new $420 million bank facility with a repayment profile of 8.5 years. It will be used to finance the delivery of the ultra-deepwater semisubmersible offshore drilling rig Songa Eclipse, currently ready for delivery from Jurong shipyard in Singapore.Additionally, Songa has received a firm offer on a $100 million facility ...

German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) recently launched Seatruck Progress, the first of four identical Ro/Ro freight ferries ordered by Clipper Group member Seatruck Ferries Ltd.Set for deliveries between November this year and June 2012, the four FSG-designed sister vessels are intended mainly for service in the Irish Sea. The ships are 142 m long and ...

Ali Abdi Mohamed, a/k/a Basher, 30, and Burhan Abdirahman Yusuf, a/k/a Burhan or Famah, 31, both of Somalia, were sentenced today in Norfolk, Virginia, federal court to life in prison for their roles in the pirate attack against the S/V Quest, which resulted in the murder of four U.S. citizens."Piracy is a scourge that threatens nations, commerce, and ...

Sliedrecht, The Netherlands, headquartered Jack-Up Barge B.V. has signed a multi-year charter agreement with Germany's BARD Group for Jack-Up Barge's Self Elevating Platforms JB-115 and JB-117. The contract is valued at over of Euros 100 million. Both platforms will be deployed in the BARD Offshore 1 offshore wind farm – the largest German offshore wind farm to date. The JB-1 ...

Privately held Hendry Corporation, Tampa, Fla., recently received a $1 million grant under the U.S. Maritime Administration Assistance to Small Shipyards Grant Program. The grant, along with Hendry’s capital contribution of $1.6 Million, will be used to construct a 1,200-ton floating dry-dock.  The construction will create 25 new ...

The U.S. Department of Transportation has announce a third round of funding for the Transportation Investments Generating Economic Recovery (TIGER) program. With $527 million available in this round of funding, USDOT is looking applications for projects with "significant national, regional or local economic impact."Senior members of the Transportation Secretary's office a ...

Wave energy technology pioneer Ocean Power Technologies, Inc. reports that one of its PowerBuoy autonomous wave energy devices has been deployed for sea trials as part of a U.S. Navy coastal security and maritime surveillance program.This PowerBuoy, which has been designed and manufactured by OPT under the Navy's Littoral Expeditionary Autonomous PowerBu ...

Mohammad Saaili Shibin, accused of being the negotiator for the ransom of four U.S. citizens held hostage on the high seas aboard the yacht S/V Quest has been indicted for his alleged role in successfully extracting a ransom for a separate vessel and 22 hostages held by Somali pirates.Mr. Shibin has been in federal custody since being brought to the ...

Mohammad Saaili Shibin, accused of being the negotiator for the ransom of four U.S. citizens held hostage on the high seas aboard the yacht S/V Quest has been indicted for his alleged role in successfully extracting a ransom for a separate vessel and 22 hostages held by Somali pirates.Mr. Shibin has been in federal custody since being brought to the ...

API has responded to the announcement by BOEMRE that it will  will hold the first oil and natural gas lease sale in the Gulf of Mexico since March 2010 (details HERE):Erik Milito, group director of upstream and industry operations at API, said: "We welcome seeing the scheduli ...