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Bankrupt Quebec shipbuilder Davie Yards has gotten another order from the Québec Superior Court extending the stay of proceedings against it under Canada's Companies' Creditors Arrangement Act ("CCAA") until March 10, 2011. Davie says that it "still requires additional clarifications in respect of the proposals it received from four potential investor groups prior to moving for ...

Judge Martin Feldman, of the U.S. District Court for the Eastern District of Louisiana, today ordered the administration to move quickly on permits for new deepwater oil wells in the Gulf of Mexico.  He said that the Interior Department was required to act on drilling applications "within a reasonable time." and called the delays "increasingly inexcusable." Ruling in fa ...

The Marine Well Containment Company today announced the completion and availability of an initial well containment response system that will provide rapid containment response capabilities in the event of a potential future underwater well control incident in the deepwater Gulf of Mexico.According to the American Petroleum Institute that means that "the U.S. oil and na ...

The International Union of Marine Insurance has welcomed the announcement by the International Chamber of Shipping that it is now taking a more neutral position on the use of private armed security personnel on board ships to protect them fro ...

STX Finland Oy has signed a contract with the Ministry of Fisheries and Marine Resources of the Republic of Namibia, Worth about EUR 35 million, the contract is for the construction of a fisheries research vesse land will bring some 250 man-years of labor to STX Finland's Rauma shipyard. Delivery is scheduled for spring 2012. The  62 m vessel will provide ...

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), announced today that the Commonwealth of Pennsylvania has agreed to partner with the shipyard and to fund the purchase of certain fixed assets from APSI for a purchase price of $42 million. APSI plans to use the proceeds from the asset sale, together with a com ...

Maersk Alabama pirate Abduwali Muse has been sentenced to 405 months in prison for his role in the April 2009 hijacking and hostage taking and in the earlier hijackings of two other ships. In addition to the prison term Muse was also sentenced to five years of supervised release and ordered to pay restitution of $550,000. Following is the text of yeste ...

The U.S. Maritime Administration has awarded contracts totaling $77 million to three companies to operate 10 National Defense Reserve Fleet ships through July 27, 2015.The contracts were awarded to Ocean Duchess Inc. of Houston, Texas for $16,618,430; Keystone Ocean Shipping of Bala Cynwyd, Pa. for $30,212,588; and Interocean American Shipping Corporation of Moorestow ...

Transocean Ltd. (NYSE: RIG) reports that a subsidiary has been awarded five-year drilling contracts for two newbuild high-specification jack-up rigs for operations in Thailand for a subsidiary of Chevron Corporation (NYSE: CVX).The five-year drilling contracts are expected to commence during the first quarter of 2013 and third quarter of 2013, The estimated revenu ...

Classification society ABS and naval architectural firm Herbert Engineering Corp. (HEC) have agreed to form a joint venture company, Herbert-ABS Software Solutions, LLC (Herbert-ABS).  Herbert-ABS will offer loading and salvage analysis software packages as well as software design tools to the maritime and offshore industries.It will own, market and support the exi ...