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Acquire Two

TBS Acquires Two Ships

TBS International Limited entered into agreements to acquire two sister tweendeckers, the M.V. Wedellsborg and the M.V. Frijsenborg. TBS has agreed to acquire these vessels en bloc for $46m charter free and they are expected to be delivered to the Company in the first quarter of 2008. The M.V. Wedellsborg, to be renamed the M.V. Ottawa Princess, is a 1987 built tweendecker of 22,800 dwt and the M.V. Frijsenborg, to be renamed the M.V. Caribe Maiden, is also a 1987 built 22,800 dwt tweendecker. In addition to these two vessels, TBS also expects to take delivery of three handysize bulk carriers (the MVs Oneida Princess, Mohave Maiden, and Zuni Princess) and one additional multipurpose tweendecker (the M.V. Hopi Princess) by the end of the first quarter 2008. Once TBS takes delivery of all the above vessels, its fleet will comprise of 42 vessels in total with an aggregate of 1,224,523 dwt, including 23 tweendeckers and 19 handymax / handysize bulk carriers. TBS also has on order with Chinese shipyards six newly designed multipurpose tweendecker vessels with scheduled delivery of two vessels in 2009 and four vessels in 2010.


Palmer Johnson To Acquire Two Companies

Palmer Johnson, Inc. announced this week the signing of a letter of intent to acquire two companies: Richman Marine, Inc., a worldwide yacht chandlery company, and Global Yacht Fuel Inc., an international fuel bunkering company. Both companies are based in Fort Lauderdale, Fla. According to Palmer Johnson’s President and Chief Executive, Phil Friedman, the acquisitions expand the size and scope of Palmer Johnson’s On Call yacht chandlery and logistical support unit


Premuda To Use $30M Bond To Buy Ships

Italian shipping company Premuda SpA has completed a $30.9 million bond issue in order to acquire more ships. The bond issue will give Premuda greater liquidity and allow it to acquire further bulk ships following a significant upward trend in dry cargo shipping markets, company officials said. Premuda officials said the company's affiliate, United Bulk International, recently acquired two 1993-built Panamax bulk carriers for about $26.7 million.


Stabil Drill Acquires Two LA Firms

Lafayette, La.-based Stabil Drill, a Superior Energy Services Company subsidiary, has acquired to drilling tool firms based in Youngsville, La. Donnie Williams Tool Company and J&S Hole Opener Rentals, which both operate throughout the Gulf Coast, both were acquired by Stabil Drill.


Canadian Superior Acquires Offshore Acreage

Canadian Superior Energy Inc. acquired two major exploration licenses offshore Nova Scotia from the Canada-Nova Scotia Offshore Petroleum Board. It has been advised by the Canada-Nova Scotia Offshore Petroleum Board that Canadian Superior was successful in acquiring two large offshore drilling licenses totaling 822,000 acres offshore Nova Scotia at the Canada-Nova Scotia Offshore Petroleum Board's November 1, 2001 Land Sale (See Canadian Superior's website at www.cansup


DryShips Inc. to Acquire Ultra Deep Water Drillships

DryShips Inc., announced that it has exercised its option to acquire two advanced capability drillships for use in ultra deep water drilling locations. The drillships, are to be constructed by Samsung Heavy Industries Co., Ltd. (SHI) and are expected to be delivered from the shipyard in the third quarter of 2011. The expected delivered cost of the newbuilding drillships is approximately $800 million per unit. The company expects to receive shortly a firm commitment for the debt portion to


P&O Ports Enters

P&O Ports has signed an agreement to acquire two businesses from BCR Marine in Canada for CDN$105 million. The assets concerned are the CASCO container terminal (Centerm) in Vancouver and Canadian Stevedoring, which offers cargo handling services in ports throughout British Columbia. It is P&O Ports' first venture into the Canadian market and its first acquisition on the West Coast of North America. Completion of the transaction is anticipated in the first quarter of 2003.


GE Shipping to Acquire Two New Tankers

Great Eastern Shipping Company Ltd. has ordered two new building Long Range One (LR1) Product tankers from STX Shipbuilding Company Ltd., Korea. Great Eastern said the vessels, of around 74,500 dwt each, are due for delivery during the third quarter of 2008-09. With this order, the company's new building order book stands at nine tankers (4 LR1 product tankers and 5 MR product tankers) with an aggregate dwt of 0.52 million and 5 OSVs (4 AHTSVs and 1 PSV)


Xantic to Deliver AMOS Maintenance to Chemikalien Seetransport Vessels

Xantic has announced the signing of a contract agreement with Chemikalien Seetransport, a Ship Owner and Management Company specialised in the transportation of chemicals, products and gas. Xantic will deliver AMOS Maintenance to ten vessels. Headquartered in Hamburg, Germany, Chemikalien Seetransport (CST) offers services in the management and operation of sophisticated specialized carriers. In early 2003, CST acquired two vessels with AMOS Maintenance already installed onboard


SFL Acquires Two Containerships, Settles Bulker Claim

Ship Finance International Limited (SFL) has announced the agreement to acquire two 5,800 teu post-panamax container vessels built in 2001/2002 in combination with long-term charters. The vessels are expected to be delivered to SFL over the course of the next few weeks, and the annual EBITDA contribution is estimated to be approximately $5.5 million on average during the charter period. The charters include a purchase option with profit share after five years.


Baltic Trading Acquires Two Capesize Vessels

Takes Delivery of the Baltic Lion; Vessel to Commence Spot Market-Related Time Charter. Baltic Trading Limited announced today that it has taken delivery of the Baltic Lion, a 2012-built Capesize vessel. The Baltic Lion is the second of two Capesize vessels to be delivered to the Company under


Baltic Trading to Buy Two More Ultramax Bulkers

Bulk carrier: File photo

Baltic Trading Limited continues to execute its growth strategy with the exercise of its option to acquire two additional Ultramax newbuildings. The two option vessels, which will have the same specifications and purchase price as the Ultramax newbuildings Baltic Trading previously agreed to


Crude Oil Carriers DHT Report Favourable Wind in Q4 2013

DHT Tankship: Photo courtesy of the owners

Oslo, Norway-based DHT Holdings, Inc. reports fourth quarter 2013 results and the acquisition of two VLCCs. Financial Highlights of the quarter EBITDA for the quarter of $18.9 million and net income for the quarter of $11.5 million ($0.48 per share) including $15


NewLead to Acquire Two Panamax Dry Bulk Vessels

NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three


SFL Buys Two Car Carriers, Charters Them Out

Ship Finance International Limited (SFL) acquire two car carriers & both have been chartered out. The Japan-built vessels have a capacity of approximately 6,500 car equivalent units (CEU) and were built in 2005 and 2006, respectively.


OW Bunker Buy Two Bunker Barges

OW Bunker acquire two bunker barges for Nordic operations: 'OW Copenhagen' and 'OW Aalborg'. Prior to the acquisition, OW Bunker operated both vessels on a bare-boat charter from international shipping company the Clipper Group. OW Copenhagen and OW Aalborg are modern double-hulled 3


Greece's Navios to Buy 5 Product Tankships

Navios Maritime Acquisition Corp. to acquire 5  MR2 Product Tankers wth options for two more. The company which owns and operates tanker vessels, announce that it agreed to acquire five MR2 product tankers for an aggregate purchase price of approximately $143.8 million.


Baltic Trading to Buy Handsize Bulk Carriers

Baltic Trading Limitedhas agreed to acquire two 32,000 dwt Handysize vessels, for an aggregate purchase price of approximately $41.0 million. The acquisition is subject to the completion of customary documentation and closing conditions. The two vessels


Navios Maritime Announces Acquisition of Four Newbuilding Tankers

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced  that it has agreed to acquire two newbuilding chemical tankers and has also exercised the options to acquire two MR2 product tankers for an aggregate purchase price of $130.2 million.


Broadband Satellite Services Acquires Two Businesses

Broadband Satellite Services Limited (BSS), an investment company based in the North East of England, has completed the acquisition of AND Group & the Satcom Global group of companies. Focused on the satellite communication and telecommunication markets


Teledyne Reports Third Quarter Results

Teledyne today reported third quarter 2013 sales of $571.6 million, compared with sales of $547.4 million for the third quarter of 2012, an increase of 4.4%. Net income attributable to Teledyne was $46.8 million ($1.23 per diluted share) for the third quarter of 2013, compared with $42


Baltic Trading Snaps Up Bargain Price Capesize Bulkers

 Baltic Trading Limited has has agreed to acquire two 179,185 dwt Capesize vessels for an aggregate purchase price of $103.0 million. The two vessels, built in 2012 and 2011 by Hyundai Heavy Industries, are expected to be delivered to Baltic Trading by the end of the fourth quarter of 2013.


Bulk Carriers, Baltic Trading, Have Confidence, Invest in New Ships

Baltic Trading Limited has ordered  two 64,000 dwt Ultramax newbuildings for an aggregate purchase price of $56.0 million. The Company also has an option exercisable in January 2014 to acquire two additional Ultramax newbuildings under the same specifications and purchase price.


Star Bulk Acquires Two Ultramax Bulk Carriers

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into definitive agreements to acquire two modern Ultramax bulk carriers, the M/V Supra Challenger I and M/V Supra Challenger II


Topaz wins $100-million BP Contracts

Caspian Supplier.jpg

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced the win of two contracts with BP in Azerbaijan’s largest oil and gas fields worth approximately $100 million (USD)


 
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