Innovative Maritime Transactions In the wake of the Deep Water Horizon oil spill in the Gulf of Mexico in 2010, the United States federal government required companies engaged in drilling operations in the Gulf to create an emergency response system to contain future spills. ExxonMobil, Chevron, ConocoPhillips and Shell joined together to form the Marine Well Containment Company (MWCC) for the purpose of developing and implementing such a containment system to be utilized in the event of a future incident. The emergency response system developed by MWCC calls for two modular capture vessels (MCVs) to be used for containment operations. The vessels must remain within the Gulf of Mexico so they can quickly reach the scene of a spill so, when not in use during emergency situations, the ve

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