Todd Shipyards Corporation Announces Ratification of Labor Contract with Metal Trades Council

Todd Shipyards Corporation announced that its wholly owned subsidiary, Todd Pacific Shipyards Corporation, has reached an agreement with the Puget Sound Metal Trades Council for a new five-year collective bargaining agreement. The Agreement was ratified by the employees of Todd by more than a 2-1 margin. Todd’s employees are represented by eleven local unions that negotiate under the umbrella of... 

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New drilling law spares Florida — for now

A compromise by Florida that led to the opening of a large chunk of the Gulf of Mexico to oil and gas drilling draws keen interest from Big Oil, but criticism from other sectors. Under a new law that opens 8.3 million acres in the Gulf of Mexico to offshore drilling, four coastal states — Louisiana, Texas, Alabama and Mississippi — will get 37.5 percent of the royalties to fund coastal... 

Oil tanker runs aground for 2nd time at same spot

A tanker carrying 672,000 gallons of home heating oil ran aground in East Rockaway Inlet, the second time in less than two years that the same barge has run aground in the same area, U.S. Coast Guard officials said. The self-propelled Kristin Poling ran aground Friday on sandy bottom at the entry point to Reynolds Channel about 450 yards from shore, said Petty Officer Annie Berlin, a Coast Guard spokeswoman. ... 

East Timor protective of oil, gas industry

East Timor’s ramshackle capital is dotted with rundown buildings, old cars and squalid camps packed with thousands of people waiting to return home after months of violence. But billions of dollars in largely untapped oil and gas reserves lie just off the coast of Asia’s newest and poorest nation. East Timor is zealously guarding its nascent oil and gas industry, seen as a potential lifeline... 

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Ships return to La. waters after oil spill

Commercial vessels began using a southwestern Louisiana shipping channel on Friday for the first time since a spill of 47,000 barrels of oil forced its closure last week and tapped the nation’s oil reserve. The U.S. Coast Guard allowed a limited number of ships to use the Calcasieu Ship Channel after the wake from a barge carrying gasoline moved through the channel without disturbing cleanup... 

Oil prices rise on back of gasoline rally

Crude-oil futures rose Monday on the heels of a rally in gasoline that brokers attributed to a shipping snag along the U.S. Gulf Coast that was having some impact on refinery operations. The Coast Guard said Sunday that only limited tug and barge traffic had resumed through the Calcasieu Ship Channel, which had been off limits due to the spread of oil from a spill last week at the Citgo Petroleum Corp....