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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 ...

Todd Shipyards Corporation and Vigor Industrial Llc report the completion of the acquisition of Todd by Vigor's wholly owned subsidiary, Nautical Miles, Inc.The acquisition was made based on an offer to purchase and a merger agreement in December 2010 and a subsequent tender offer in January 2011 through which over 88 percent of the outstanding shares were t ...

VT Halter Marine's parent, ST Engineering (Singapore Technologies Engineering Ltd.) says that the shipyard has been awarded a shipbuilding contract worth about $144 million by Honolulu-based Pasha Hawaii (Pasha).  The ship, which will be operate between Hawaii and the U.S. West Coas, is expected to be delivered in the second half of 2013.  Work on the newbuilding is to ...

Comments in yesterday's Dagens Næringsliv by the patriarch of a shipping empire led  Stolt-Nielsen Limited (Oslo Børs: SNI) to issue a stock exchange announcement to emphasize that "the comments contained within the article are Mr.Jacob Stolt-Nielsen's own personal opinion."What did Mr. Stolt Nielsen say? ...

Seismic survey specialist Petroleum Geo-Services ASA is going to a Japanese shipbuilder for its next generation of Ramform vessels. It has signed a Letter of Award with Mitsubishi Heavy Industries Ltd. for the delivery of two Ramform W-class vessels, with the option for another two ships. The vessels are the first in the new, fifth generation Ramform series. Planned deliver ...