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GLOBAL MARINE TRANSPORTATION

Omega Navigation 1Q 2007 Results

Omega Navigation Enterprises, Inc. , a provider of global marine transportation services focusing on product tankers announced its unaudited financial and operational results for the first quarter ended March 31, 2007. The Company had previously announced the declaration of its quarterly cash dividend with respect to the first quarter of 2007 of $0.50 per share payable on May 31, 2007 to stockholders of record on May 21, 2007.


Eagle Bulk Shipping Takes Delivery of Supramax Drybulk Vessel

Eagle Bulk Shipping, Inc., a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry,announced that it has taken delivery of the Shrike, a 2003 built 53,343 dwt Supramax dry bulk vessel. The Shrike was acquired as part of a three vessel transaction announced on February 28, 2007. The Shrike will immediately commence a 24-27 month charter at a rate of $24,600/day. The charterer has an option to extend the charter period by 12-14 months at a


Omega Declares Quarterly Cash Dividend

Omega Navigation Enterprises, Inc. a provider of global marine transportation services focusing on product tankers announced today that its Board of Directors declared a quarterly cash dividend with respect to the second quarter of 2007 of $0.50 per common share, payable August 31, 2007 to stockholders of record on August 17, 2007.


Omega Navigation Enterprises Declares Cash Dividend

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX:ONAV50), a provider of global marine transportation services focusing on product tankers announced that its Board of Directors declared a quarterly cash dividend with respect to the third quarter of 2007 of $0.50 per common share, payable November 30, 2007 to stockholders of record on November 15, 2007. The company recently announced the signing of shipbuilding contracts to construct and acquire five newbuilding double hull Handymax


News: Signet Martime Inks Garrett Contract

Signet Maritime Corp. and Garrett Marine, Inc. executed agreements August 29, 2003, for charter and purchase of Garrett's Aransas tug business, finalizing plans that originated in 2002 to expand Signet's presence in the Aransas Pass/Ingleside region. The Garrett family, which has been serving marine tug needs in Texas for almost 50 years, agreed to terms for handing over responsibility for tug operations to Signet for marine and construction firms in the Aransas Pass/Ingleside region.


Omega Navigation, Capital Injection by Founder & CEO

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it agreed to a capital infusion of $5.25m through a loan by its founder, CEO and largest shareholder, George Kassiotis. The capital infusion will be made through a company owned and controlled by George Kassiotis in the form of a secured convertible promissory note which, under certain circumstances and at the option of the holder


Megacore Shipping New Product Tankers

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it has formed an equal partnership (50/50) joint venture company with Topley Corporation, a wholly owned subsidiary of Glencore International AG (Glencore). The name of the joint venture company is Megacore Shipping Ltd. Companies owned by Omega and the Glencore group have novated their respective original shipbuilding contracts


Omega Navigation Enterprises Reports 3Q Results

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV, SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced its financial and operational results for the third quarter ended September 30, 2007. The Company had previously announced the declaration of its quarterly cash dividend with respect to the third quarter of 2007 of $0.50 per share payable on November 30, 2007 to stockholders of record on November 15, 2007.


Omega Navigation Joint Venture for Omega Duke

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced it has taken delivery of the first of its newbuildings, the 47,000 dwt. Omega Duke. It further announced that it has taken several measures to better position itself to fund its newbuilding commitments from internally generated cash flow. As previously announced, Omega has commitments from commercial banks to provide 75% financing at


USMMA Announces 2013 Commencement Speaker

Gen. William Fraser III, Commander, U.S. Transportation Command

The U.S. Merchant Marine Academy (USMMA) today announced that Gen. William M. Fraser III, Commander, U.S. Transportation Command (USTRANSCOM), has been chosen as this year's commencement speaker to be held at USMMA on Monday, June 17, 2013.   “The United States Merchant Marine Academy is honored to have General Fraser as our commencement speaker. He epitomizes the ideals of our Academy.  He is an outstanding role-model for our graduates who are about to embark on a lifetime


DryShips Reaches Agreement with Ocean Rig

DryShips.jpg

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, announced the following: It has reached an agreement with Ocean Rig UDW Inc


Substantial Demand Underscores Need for TIGER Grants

U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment Generating Economic Recovery (TIGER) grants totaled $9.8 billion, almost 20 times the $500 million set aside for the program


ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about increased energy production and consumption. In its latest forecast, CEDIGAZ


Sembcorp Marine Posts 17% Fall in Q2

Image: SembCorp Marine

 Low oil prices and muted sentiment in the industry continued to take a toll on Sembcorp Marine's second-quarter earnings.   The rigbuilder has announced that net profit for the three months ended June 30 sank 17 per cent to to $79.58 million (SGD 109 million), compared to $96


Dometic Debuts Engineering Team for Ship-wide Ventilation

Dometic Marine, a division of Dometic Group, a global provider of leisure products for the marine, truck, caravan, motor home and automotive markets, has unveiled its new, dedicated team of ship-wide ventilation experts, who specialize in providing customized design


Davao Sasa Port Modernization Project Attracts 6 Firms

Davao Sasa Port. Pic:  Philippine Ports Authority Port Mananagement Office of Davao

 Six local and foreign firms have expressed interest to construct a modern Davao Sasa Port, the Department of Transportation and Communications (DOTC), Philippines said.   The companies that purchased the bid documents include Anflocor, Netherlands-based global operator APMT


Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to maintain its role as the world's top bunkering hub. The move to issue bunker supplier licences to the gas sector complements the


IMO Signs Global Maritime Energy Efficiency Partnerships Project

Image: International Maritime Organization (IMO)

 International Maritime Organization (IMO) the Global Environment Facility (GEF) and the United Nations Development Programme (UNDP) have signed an agreement to allocate US$2.0 million to a two-year global maritime energy efficiency partnership project


DryShips Announces Write-Off of Receivables

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, has announced  the agreement with one of its charterers to write-off about $16


Star Bulk Adds Three Vessels

Photo: Star Bulk Carriers Corp

 Star Bulk Carriers Corp. announced that on July 15, 2015 it took delivery of M/V Goliath and M/V Maharaj, two 209,000 dwt Newcastlemax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co.   In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius, a 61


Port Infrastructure Projects Underway in Virginia

U.S. Transportation Secretary Foxx breaks ground on major infrastructure projects at the Port of Virginia; federal funding supports reduced congestion in nearby neighborhoods   U.S. Transportation Secretary Anthony Foxx today joined Virginia Gov


FMC Approves Northwest Seaport Alliance

Photo: Port of Seattle

Upon competitive review and analysis of the Port of Seattle/Port of Tacoma Alliance Agreement, the U.S. Federal Maritime Commission (FMC) has voted unanimously to allow the Northwest Seaport Alliance to become effective as scheduled on July 23, 2015.  


BW Group Buys Dorian Stake

Photo: Scorpio Tankers Inc.

 Scorpio Tankers Inc has agreed to sell its 6 million common shares of Dorian LPG Ltd to BW Euroholdings Limited, a wholly owned subsidiary of BW Group Limited, for a purchase price of $15.34 per share.    The shares will be sold pursuant to an effective resale registration


Maersk Starts Weekly Service through Port of Jacksonville

JAXPORT. Photo by Port of Jacksonville

 The Port of Jacksonville (JAXPORT) has welcomed the 4,400 teu AS Mariana, the first ship in Maersk Line’s new weekly service to Asia through at the port’s Blount Island Marine Terminal.   JAXPORT has officially announced the addition of the world’s No


Salvors Remove Debris Left by Environmental Protesters

Photo: GUE Seattle

Dive and salvage teams worked to remove debris used as anchor blocks by environmental activists protesting Shell’s Arctic drilling aboard a barge in Seattle’s Alki Seacrest Park on May 19.   A dive team from Global Diving & Salvage, Inc






 
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