Well, maybe not drowning per se, but I always like to point out noteworthy story contests, especially those that don't require a fee to enter. Naomi Johnson has announced that the Drowning Machine blog is once again holding its Watery Grave Invitational contest. It's a different type of competition in three phases: (1) If you have a story published online in the past year (4/10 - 4/11) you can enter; (2) If your story is picked in the second round, you and some pre-invited writers will have your names tossed into a hat and 10 chosen at random; (3) The final round is when those lucky 10 have two weeks to write a brand new story on a given theme.
Midwestern Gothic is sponsoring its first-ever short fiction contest. The catch is, you must use their photo prompt and you must have a connection to the Midwest in some fashion (school, work, born/raised/died here/etc.). If you qualify, you can read all the rules via the link above. (Hat tip to Sandra Seamans.)
Canadians have an opportunity just for them: unpublished authors can enter the 2011 Scene of the Crime Short Mystery Story Contest, held in conjunction with that annual conference. Read the submission guidlines then hurry your entry, because they're due June 1st.
Another opportunity for an unpublished writer comes via the Love is Murder mystery conference, already taking entries for their 2012 competition. You have a little bit more time to hone your submission for this one, since stories aren't due until October 15th. The winner will be published in "a major (unnamed) crime fiction magazine."