Ingalls Shipbuilding v. Federal Insurance Co, et a

WIENER, Circuit Judge:

FACTS AND PROCEEDINGS

The, underlying, facts of the case are undisputed. Ingalls Shipbuilding, Inc. (“Ingalls”) operates a shipyard in Pascagoula,' Mississippi. ' In June 1998, Trans-ocean Offshore, Inc. (“Transocean”) contracted with Ingalls to install various drilling modules aboard its vessel, the DISCOVERER ENTERPRISE (“Shipyard Agreement”). In connection with the shipyard work, Transocean executed a Purchase Agreement with Pyramid Constructors, Inc. (“Pyramid”) to design and manufacture a derrick structure and install its component parts. Transocean also executed a…