Editor’s Note: The Brazilian appeals court decision referred to below involves the FPSO OSX 3. The Court has based its decision on the grounds that Liberia is not a party...

  By Juan Pablo Spinetto (Bloomberg) — Out in the Atlantic Ocean, 130 miles off the coast of Brazil, an oil ship the length of New York City’s Chrysler building...

Oleo e Gas Participações SA, a Brazilian oil company under bankruptcy protection, on Monday said it suspended payments for an oil-production vessel to bankrupt ship-leasing company OSX Brasil SA for six months.

OSX Brazil said on Friday that its OSX-3 vessel arrived in Brazilian waters and would be delivered to sister oil producer OGX Petroleo e Gas Participações SA.