Danish utility and offshore wind farm developer DONG Energy has narrowed the price target for the company's share sale in Copenhagen, cutting off the top end of range, one source with direct knowledge to the matter said. The price range has been narrowed to 225 Danish crowns and 235 crowns ($34.39-$35.92) from an earlier target of 220-255 crowns. "A message was sent to investors on Tuesday night that they are at risk of not getting any shares granted if they place orders in the low end of the new price range," the source said. Shares in DONG Energy are set to trade on the bourse in Copenhagen on Thursday. The top of the range would value the company at 98.2 billion Danish crowns ($15 billion), potentially making it Europe's biggest initial public offering this year. ($1 = 6.5421 Danish crowns) ($1 = 6.5428 Danish crowns) (Reporting by Ole Mikkelsen, editing by Jacob Gronholt-Pedersen and Louise Heavens)
The U.S. Coast Guard issued a temporary rule extending through October 31 its security zone encompassing the Trans-Alaska Pipeline (TAPS) Valdez Terminal Complex and TAPS tank vessels and a second security zone in the Valdez Narrows. Comments on this action should be submitted by June 30. 69 Fed. Reg. 28827 (May 19, 2004). The U.S. Coast Guard also issued a proposal to make these security zones permanent. Comments on this proposal should be submitted by July 30. 69 Fed. Reg. 28871 (HK Law)
Proponents of a controversial liquefied natural gas plant in Maine say a study ordered by the Canadian government has found there is no reason to ban supertankers from the Bay of Fundy, as Ottawa has threatened to do if the U.S. approves the project. Downeast LNG said the environmental study found there were no immediate risks of having LNG supertankers go through the Bay of Fundy, part of which is split by the New Brunswick-Maine border, to the proposed plant.
The prediction comes from NYC-based PIRA Energy Group in its latest 'Oil Market Recap', as follows: The world economy is set for faster growth now that it has achieved escape velocity. Current low oil inventories and stock declines are supporting strong prices. Key light product inventories are low, with distillate vulnerable to a spike with very cold weather. Brent-Dubai will be fairly wide in January and February before narrowing sharply in April
Reuters - Russian navy ships have blocked off the Kerch Strait which separates Ukraine's Crimea region and Russia, the Ukrainian border guard service said on Tuesday. The border guards have said that Russian servicemen are in control of the Crimean side of the narrow channel and that Russian armoured vehicles have been sighted on the Russian side. "The Kerch Strait is blocked by two Russian ships - from the north and from the south," Pavel Shishurin
A cargo ship ran aground and smashed into a villa on Turkey's Bosphorus Strait on Tuesday, forcing maritime authorities to close the key waterway to transit traffic, shipping agency GAC said. The 105 metre Sierra Leone-flagged Majed & Randy had no pilot on board when it suffered a rudder malfunction before hitting the villa, located on the Asian side of the waterway near Istanbul's Fatih Sultan Mehmet Bridge, GAC said.
Stephen Cummings and David Harris of the Brisbane Marine Pilots attended an Emergency Shiphandling course conducted September 13-17, 2004, at MarineSafety International's simulator training complex in Newport, RI. Topics covered included ship maneuvering in narrow channels and docking operations in tight quarters under difficult circumstances of wind and current. The pilots were also able to practice procedures for employing escort tugs using a computer model of the port of Brisbane
By Mass Communication Specialist 3rd Class (SW) Brian Goodwin, Iwo Jima Expeditionary Strike Group Public Affairs The amphibious transport dock ship USS San Antonio (LPD 17) made its first transit through the Suez Canal as part of the Iwo Jima Expeditionary Strike Group Sept. 23. 's first transit through the Suez Canal marked its entry into the 5th Fleet area of operations. relied on the skill and expertise of its Sailors to successfully maneuver the 's navigational challenges.
Laborde Products, Inc., provided a two-day class to enable U.S. Navy's Special Boat Teams to maintain and repair the engines that power the Special Operations Craft—Riverine (SOC-R). Certified Yanmar Technician Randy Saacks and other Laborde engine professionals demonstrated disassembly, assembly and trouble-shooting. "This training ensures that the members of the Navy's Special Boat Teams have the skills required to get the job done no matter where they're deployed and
The crew of the U.S. Coast Guard Cutter Anacapa rescued two men from a vessel taking on water approximately one mile southwest of Petersburg, Alaska, Tuesday. A smallboat crew from the Anacapa took the 24-foot pleasure craft Deborah K under tow and safely transported its passengers to the port in Petersburg. Coast Guard command center watchstanders at Sector Juneau received a call from passengers aboard the Deborah K reporting they had struck a rock and were taking on water near Wrangell
Manufacturer of diesel engines and generator sets for the marine industry Cummins Inc. said it recently delivered the first four QSK95 engines for a marine application, with four additional units to be delivered in December. The engines were delivered to longtime Cummins partner SEACOR
India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources
Great Lakes-St. Lawrence Seaway shipping rebounded in August due to a surge in U.S. grain exports, iron ore shipment improvements and a steady flow of raw materials for manufacturing and construction. “We’ve seen a real rally in August. St
The Maritime and Port Authority of Singapore (MPA) has released a training programme, produced by Videotel, a KVH company, to encourage safe navigation in the Singapore Strait. Carrying an estimated one third of the world’s traded goods
A new, emission-free electric tour boat now plies the Rideau Canal, powered by two 80 horsepower Torqeedo electric motors. The 75-foot, 100-passenger vessel Queen Elizabeth Dr. is the first of two planned vessels to offer guided tours and host events on the canal
Bouchard Transportation Co., Inc. hosts USCG leadership and managerial skills course at corporate headquarters for tug captains and chief engineers During the weeks of July 18-21, and August 1-4, Bouchard Transportation Co., Inc. partnered with SUNY Maritime College and privately hosted
Ellicott Dredge Technologies (EDT) announced the successful start up and installation of a state-of-the-art Mud Cat brand remotely operated vehicle (ROV) at the Gardens by the Bay nature park in central Singapore. ML Trading International purchased a Mud Cat Model SRD-6EHV ROV
According to PGI’s Risk Portal, there were at least 81 incidents of piracy or attempted piracy in or around the Singapore and Malacca Straits between April 2015 and April 2016. The majority of these incidents have occurred on the western approach to the narrow waterway
A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry. Two major factors have lowered VLGC rates in recent times: excessive fleet growth and weak
When the Republic of Panama needed lifts for a pair of its service boats, it turned to Golden Boat Lifts for the supply of two custom-designed 7,000 lb. capacity Golden Elevator Lifts for use in the Panama Canal. According to Golden Boat Lifts
Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents. The Center for Operational Oceanographic Products and Services (CO-OPS) developed a more reliable
Safe navigation is a priority operating principle for the UK’s largest energy Port, the Port of Milford Haven. And earlier this week the Port demonstrated that commitment with the unveiling of its new, state of the art marine navigation simulator.
Kelvin Hughes has announced the launch of a new range of radar systems for commercial shipping based on its innovative, solid-state SharpEye technology. Kelvin Hughes has been supplying IMO type-approved radar to merchant ships, fishing boats and workboats since the 1940s
Brazil stays in the spotlight - Tanker Research & Consulting department at Poten & Partners takes a look at the tanker market in the country. The Rio Olympics were successfully concluded on August 21. Ten days later, on Wednesday, August 31
Trelleborg’s marine systems operation has supplied the Association of Maryland Pilots with SafePilot Portable Pilot Units (PPUs) and a Port System server solution to facilitate consistent, real-time information sharing between almost 70 pilots