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Marine Log

MAY 2008

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Bourbon to sell stake in Rigdon Marine
will take 60 million euo capital gain and repayment of 110 million euro loan

Horizon suspends six employees
Placed on administrative leave in wake of DOJ investigation

Tidewater ups dividend
first increase since 1996

GulfMark Offshore to acquire Rigdon Marine
$550 million cash and shares deal

Seadrill issues LOI for semi-submersible
and takes delivery of a jack-up

Dubai Maritime City set for key role in Arab maritime sector
Delegation returns from mission in Egypt

GAO: C-TPAT still faces challenges
CBP says it will act on recommendations

New President & CEO at Aker Philadelphia
Dave Meehan returns to Aker Solutions, is succeeded by Jim Miller

Petrobras reports discovery in ultra-deep U.S. GoM
Stones No.3 well in 2,286 m of water finds oil in multiple reservoirs

Stealthgas reports increased net
LPG specialist reports on Q1

Canada awards Arctic patrol craft contract
BMT Fleet Technology Limited wins Definition, Engineering, Logistics and Management Support (DELMS) contract

New role for HSV-1X Joint Venture
The Isle of Man Steam Packet Company, purchases Incat 050 for Irish Sea service

ATSB reports on Pasha Bulker grounding
says master had an inadequate understanding of heavy weather ballast, anchor holding power and the limitations of the weather exposed anchorage of Newcastle, NSW.

NCL to pay $14.75 million in S.S. Norway blast case
$1 million fine and $13.75 million in restitution

New Philadelphia ship repairer starts operations
PennShip Services has 30 year lease on Navy Yard dry dock

Anderson steps down from FMC
Former Hvide Marine exec plans to continue in maritime sector

USCG Marine Safety Performance Plan now on line
Coast Guard welcomes comment

MAN Diesel expands PrimeServ network
New Italian office opens in Genoa

AOTOS Award winners named
James A. Capo, of U.S. Maritime Alliance, Ltd., and Michael D. Garvey, of Saltchuk Resources, Inc. to be honored plus a special AOTOS Award to General Norton A. Schwartz of U.S. Transportation Command

Commandant unveils USCG Marine Safety Performance Plan
Invites public comment

House panel probes USCG casualty investigations
Considers report by DHS OIG

Petrobras to contract 40 semis and drillships
priority on building in Brazil

U.K. set to sign aircraft carrier contract
BAE Systems and VT Group to finalize arrangements for BVT Surface Fleet joint venture

GE and C-Mar team on hybrid tug technology
Announce alliance at Singapore event

$550 million plan for LNG facility offshore New Jersey
Regas tankers would feed deepwater pipeline network via submerged turrets

Earthrace nears Hawaii
Biodiesel-fueled powerboat on track to beat world record

USCG amends vessel security officer regs
Brings U.S. merchant mariner requirements into line with STCW

SpeedFerries buys SpeedOne from Incat
Former HMAS Jervis Bay makes success of a civilian career

GD delivers Unmanned Surface Vessel
Anti-Submarine Warfare Unmanned Surface Vehicle (ASW USV) is part of the Littoral Combat Ship mission package

Intermarine adds eight newbuilds
Project cargo specialist announces long term charters of eight from Portugal's ENVC

Seadrill and Ship Finance in $850 million drillship sale and leaseback
Two Fredriksen controlled companies set a maritime sale and leaseback record

Safe Bulkers, Inc, plans IPO
Hajioannou family controlled dry bulk specialist files with SEC

China order for Ulstein Design
12 anchor handlers to be built in Guangzhou

Davie Yards records Q1 loss
continues ramp up and now has 895 employees

ACL names Senior VP and General Counsel
appoints Dawn R. Landry

Trico Marine swoops on DeepOcean
Controls 51.5 percent of Norwegian subsea specialist, will make mandatory offer for the rest

Joint venture says $500 million still in place for NASSCO tankers
USS Products Investor LLC issues statement

Conrad Industries ups its backlog
Cancellation of two barges more than offset by orders for eight more plus a dry dock

Trailer Bridge reports first quarter results
Start up costs of new service take toll

Hybrid harbor tug near to launch
Foss Maritime VP Susan Hayman updated delegates to MARINE LOG's Tug & Barge event on the latest breakthrough in tug technology

Hearing on Jones Act rebuilds
House Coast Guard panel to hold June 6 hearing

Fire aboard newbuilding at Bender Shipbuilding
Firefighters still dealing with fire 18 hours after outbreak

BC Ferries' latest vessel visits London
not just a ferry, but a floating billboard for 2010 Winter Games

DryShips makes offer for Ocean Rig
NOK 45 a share cash

MOL plans ore carrier newbuilding spree
53 new ships between 2008 and 2014

ASA and OMSA forge link
American Salvage Association (ASA) and Offshore Marine Service Association (OMSA)agree reciprocal Affiliate Membership relationship.

GAO eyes Navy voyage repair plans in Guam region
Report says that with a projected military buildup in Guam, time to start planning for voyage repair capabilities is now

Liftboat salvage starts
USCG still investigating grounding of RV Russell W. Peterson

$5.8 million Navy award to BAE Norfolk Ship Repair
more work on Wasp

Technip wins subsea mining contract
important step in development of Nautilus Minerals Solwara 1 project

Washington State bunkering spill brings $27,500 penalty
Overflow costs Singapore owner $295.70 a gallon

U.S. Shipping Partners reports first quarter loss
takes $5.7 million charge on fifth ATB, retains advisors to "explore strategic alternatives"

Storm drives liftboat ahore in Delaware
pounded by storms undertaking studies for offshore wind farm, one crew member loses life

Nordic American commences public offering
Offers 4 million common shares

Austal Tasmania to build Queensland police boats
Three 22 m cats

House panel puts brakes on DDG 1000 program
reallocates funds for third DDG 1000 in effort to to build ships of a proven design and in sufficient numbers to realize shipyard efficiency

USCG issues marine safety alert
vessel owners and operators urged to examine vessels' watertight integrity and placement of high-level bilge alarms

USCG takes deivery of Bertholf
first major multi-mission cutter to be built and delivered to the Coast Guard in more than 20 years

Bourbon reports strong Q1 revenues
New offshore vessels and healthy bulker rates offset weak dollar

Puerto Rico trade lines face antitrust class action suit
Complaint says economic and treble damages are reasonably estimated in hundreds of millions of dollars

5,750 bhp U.S.-flag tug sold overseas
Marcon brokers sale of Crowley's 1968-built Sea Flyer

Giant crane wins award
Yantai Raffles Shipyard receives ASME Woelfel Best Mechanical Engineering Achievement Award 2008

EC ends parcel tanker probe
Stolt-Nielsen and Odfjell say they no longer risk fines

Austal USA gains key security clearance
Can now act as prime contractor on classified shipbuilding projects

Atlantic Marine lays keel of first AHL tanker
Innovative Jones Act construction program marks another milestone

Pride International to sell platform rig fleet
in line with strategy of focusing on deepwater and high spec assets

Ezra orders two OSV newbuilds
UT788 CDL DP3 Multi-Functional Support Vessel and DP2 AHTS

Arms ship An Yue Jiang leaves Angola without unloading weapons
Trade union members monitored cargo operations

Heavy lift Fjord loads first cargo
Transporting Ice Maiden to U.K. for flotel conversion

American Commercial reports first quarter results
High fuel prices and high water levels take their toll

Transocean gets drilling contract for another newbuild drillship
places order at Daewoo

Negligence charged in S.S. Norway boiler explosion
Norwegian Cruise Line Limited faces criminal charge, complaint For Civil Injunctive Relief filed against NCL (Bahamas), Ltd.

ENSCO orders fifth ultra-deepwater semi at Keppel FELS
announces $512 million order for fifth rig day after winning drilling contract for fourth in series

EC gives nod to STX acquisition of Aker Yards
no impediment to shipbuilding competition

MMS releases latest Deepwater Gulf of Mexico report
deepwater advancement is occurring in all areas--leasing, drilling and production

TTS lands breakthrough anchor handling winch contract
Korean owner specifies TTS 350-ton, high power hydraulic winches for two newbuilds in Japan

ONR awards $10.1 million T-Craft design contract
Alion Science & Technology Corp. to develop detailed designs of Sea Base Connector Transformable-Craft

New ABS structural requirements for FPSO's
apply FPSO-specific loading conditions and prescribe strength assessment procedures

Aker Philadelphia Shipyard in $560 million agreement with Cat Finance
secures construction financing for the remainder of current fleet of 12 tankers under construction through 2011

Tidewater results disappoint analysts
"We did not hit on all cylinders," says Dean Taylor

Potential $93 million charter for HSV Swift
MSC awards Sealift, Inc. charter for Incat-built high speed vessel

Washington State scraps plan to build 50-car ferry
Will accelerate plan to build two 64-car ferries

DHS "realigns" TWIC compliance date
New final compliance date is April 15, 2009. but several ports will be required to come into compliance long before

ASL Marine boosts Batam yard repair capacity
Lengthens one graving dry dock and adds two more

Coast Guard CWO pleas guilty in pollution case
Pleads guilty to making a false statement

Trailer Bridge puts strategic rethink on hold
Cites Justice Department probe of Puerto Rico trades as cause for pause

Senate committee nips and tucks shipbuilding budget
Armed Services Committee markup of Defense bill funds Administration's shipbuilding request--with some paring

Longshore workers' Iraq protest shuts down west coast ports
Dock workers say it's an exercise of First Amendment rights, PMA says it's an illegal work-stoppage

Pride International wins BP contract for third newbuild drillship
All three Pride Samsung drillships now have contracts of at least five years

Hornbeck Offshore Services reports strong first quarter
Soaring day rates for new generation OSVs help

Rolls-Royce wins orders for safer anchor handling equipment
Equipment packages for safer deck operations

Clarkson ousts CEO
Fulford-Smith steps down after shipbroker ups provision against Russian claims

Stena orders further drill ship at Samsung
Samsung announces $942million order

Swiber sets its sight on Thailand
EPCIC MOU with Thailand's CUEL follows order from Nucoastal for SPM buoy