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A study commissioned by the Shallow Water Energy Security Coalition finds that spending by the vendors and subcontractors supporting shallow water energy exploration accounted for $1.8 billion over the last three years, excluding expenditures in Louisiana and Texas.President Obama's home state of Illinois was the leading recipient of shallow w ...

First steel for Princess Cruises' next ship was cut yesterday at Fincantieri's Monfalcone, Italy, shipyard. The ship is the first of two new-generation, 141,000 ton, 3,600 passenger vessels for the cruise line took which took the official start of construction as the occasion to unveil the vessel's profile and reveal its name - Royal Princess.This will be the th ...

Dubai-headquartered offshore services provider Topaz Energy and Marine is planning to raise $500 million in a London Stock Exchange IPO.  a fleet of approximately 100 offshore support vessels, Topaz is a wholly owned subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market, Oman.Topaz has a strong market position in both the Caspia ...

Paris-headquartered Bourbon reports that revenues in 2010 came to EUR 849.9 million, up 4.6 percent from the previous year. Compared with the second half of 2009, revenues in the second half of 2010 were up 9.6 percent to EUR 443.6 million. Gross operating income (EBITDA) in 2010 stood at EUR 240.9 million, down 19.3 percent from the previous year, despite an overall increase i ...

The U.S. inland barge fleet expanded 2 percent during 2010. The fleet expanded mainly for the fleet that increased in count for the first time since 1998. There were 873 new barges added to the overall fleet as of the end of last year while 451 barges were retired, according to Informa Economics' just-released Barge Fleet Profile. Among the different barge types, the numbe ...

American Cruise Lines reports that construction of its new 140 passenger Mississippi sternwheeler at Chesapeake Shipbuilding in Salisbury,Md., is well underway and ahead of schedule. The hull is nearly complete and the superstructure is taking shape.The ship will fully recreate the grandeur of past riverboats, while incorporating the latest safety, environmental an ...

Israel Defense Forces (IDF) have seized a containership loaded with weaponry. The Liberian-flagged Victoria was intercepted yesterday morning some 200 miles west of Israel's coast. The ship is managed by Peter Doehle Schiffahrts-KG of Hamburg, Germany and registered to Aspera Schiffahrts GmbH, which shares Peter Doehle's stre ...

Northrop Grumman Corporation (NYSE: NOC) today announced that its board of directors has approved the spin-off of its wholly owned subsidiary, Huntington Ingalls Industries, Inc. (HII), to Northrop Grumman stockholders, subject to final U.S. Securities and Exchange Commission (SEC) clearance, and set the distribution ratio, record date and distribution date for the spin-off. ...

Japan Drilling Company has placed its first newbuild offshore drilling rig order in six years. It has awarded Singapore's Keppel FELS shipyard a contract worth about $210 million for a KFELS Super B Class jack-up rig. The unit is slated for delivery in the first quarter of 2013.Mr. Wong Kok Seng, Managing Director of Keppel FELS, said, "JDC has been very specific wi ...

Sanko Steamship and Hellespont Group have set up a manning and ship management joint venture to serve their offshore service vessel fleets.The  Singapore-based JV company, Sanko-Hellespont Offshore Management Pte. Ltd. is owned  on an equal partnership basis by Sanko Ship Management (Singapore) Pte. Ltd. and Hellespont Singapore Pte. Ltd. It started operations March 7, ...