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IMC Maritime Newsletter May 18, 2010

(Full Newsletter can be downloaded here: http://imcbrokers.files.wordpress.com/2010/05/imc_maritime_newsletter_05182010.pdf)
Oil rises above $71 after 2-week sell-off
Oil prices rose above $71 a barrel Tuesday in Asia, bouncing back after fears a European debt crisis could halt a global economic recovery sparked a 20 percent sell-off over two weeks.

Shell outlines precautions for offshore Arctic drilling
Shell Oil Co. is making its best case for why drilling in the offshore Arctic can be done with fewer potential problems than what confronted BP in the Gulf of Mexico.

Hawaiian Dredging gets $13.2M Navy contract

Hawaiian Dredging Construction Co. was awarded a $13.2 million multiple-award Navy contract to repair wharves at Pearl Harbor, the Pentagon announced Monday.


Aker Philadelphia Shipyard Delivers Ninth Product Tanker
Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, delivered its ninth Veteran Class MT-46 product tanker Friday to American Shipping Company.
Copter plucks captain off foundering tugboat
A Coast Guard helicopter crew rescued the operator of a 50-foot tugboat that ran aground near Race Point off Fishers Island Saturday morning, Coast Guard officials said.

Gulf oil spill could result in biggest environmental and maritime litigation case in U.S.

While BP struggles to stop the oil gushing from its exploded well in the Gulf of Mexico, lawyers throughout the New Orleans area are gearing up for what could be the biggest environmental and maritime litigation case the nation has ever seen.

Top EU diplomat Ashton begins anti-piracy tour
The EU's top diplomat is to visit East Africa at the start of a tour aimed at curbing piracy off Somalia's coast.

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