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Announces Agreement

Genco Takes Delivery of Second Capesize Vessel

Genco Shipping & Trading Limited has taken delivery of the Genco Tiberius, a January 2007-built 175,000 dwt Capesize vessel. The Genco Tiberius is the second vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capesize vessels from companies within the Metrostar Management Corporation group. The Genco Tiberius is currently on charter with Cargill International S.A. at a rate of $45,263 per day, less a 5% third party brokerage commission. The charter is due to expire between January 2010 and May 2010.


Navios Agrees to Acquire Four Newbuilds

Navios Maritime Holdings Inc. Announces Agreement to Acquire Four New Build Capesize Vessels with Secured Long-Term Employment Generating Approximately $43.33 million of EBITDA Annually - Issuance of $165.22 million of Mandatorily Convertible Preferred Stock - $52.82 Million Reduction in Cash Requirements for Three Existing New Build Capesize Vessels - Conference Call and Webcast: Tuesday, June 23, 2009 at 08:00 am EDT


Northrop Grumman To Acquire TRW for $60 per Share in Stock

Northrop Grumman Corporation and TRW Inc. jointly announced that they have entered into a definitive merger agreement. The combination will position Northrop Grumman as the nation's second largest defense contractor with projected annual revenues of more than $26 billion and approximately 123,000 employees. Following the separation of TRW's automotive business and completion of the sale of TRW's Aeronautical Systems business, Northrop Grumman will be a Fortune 100 company.


ENSCO and Chiles Offshore Announce Agreement to Merge

ENSCO International Incorporated and Chiles Offshore Inc. announced that they have signed a definitive merger agreement by which ENSCO will acquire Chiles. The Boards of both companies have approved the transaction. Under the terms of the merger agreement, Chiles' stockholders will receive 0.6575 shares of ENSCO common stock, plus cash of $5.25, for each share of Chiles' common stock. Total value of the transaction is approximately $578 million based on ENSCO's closing price as of May 14


General Maritime Announces Agreement With Creditors

New York - General Maritime Corporation announced that it had reached an agreement on a modified plan of reorganization with the Official Committee of Unsecured Creditors, funds managed by Oaktree Capital Management, L.P. and their investment entities and holders of more than 40 percent of the Company's Senior Notes.  The Modified Plan is also supported by 66-2/3 percent of the Company's key senior lenders, including its bank group, led by Nordea Bank Finland plc


GasLog to List on NY Bourse

Image courtesy of GasLog

LNG carrier owners and operators, GasLog Partners LP, inform it has priced its initial public offering of 8,400,000 common units representing limited partner interests at $21.00 per common unit. The common units will begin trading on the New York Stock Exchange on May 7, 2014 under the ticker symbol “GLOP”. The offering is expected to close on May 12, 2014. The underwriters have a 30-day option to purchase up to 1,260


ACL Announces Three Year Agreement for Employees and Teamsters Local 89

American Commercial Lines Inc. announced that the company has secured a three year agreement for its shipyard employees with the General Drivers, Warehousemen & Helpers (Teamsters), Local Union No. 89. The three year agreement, which was ratified by over 95% of the voters, provides for first year wage increases ranging from 5% to 18% for various job positions resulting in an overall average wage increase of approximately 11%.


Wolong Signs Agreement

Singapore-based Wolong International has announced the signing of a licensing agreement with Fr. Fassmer Gmbh of Germany for the production of Wolong (Fassmer Licensed) totally enclosed lifeboats. The agreement, signed on October 1, 2001, serves to synergize the West and East. Production of the Wolong lifeboats is to b e carried out in China and is expected to commence within the month. Fassmer with this agreement will be providing the technical support to Wolong International in upgrading


Dryships Agreement with Nordea Bank

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has reached final agreement and received formal approval from Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG regarding the previously announced covenant waiver in connection with the $800m Primelead facility consistent with the terms previously announced on February 9, 2009.


Topaz Successfully Arranges Refinancing

Phase One of US$ 330 million loan agreement signed.   UAE-based Topaz Energy and Marine Ltd. (Topaz), a leading oilfield services multinational and a subsidiary of Renaissance Services, announced that it has signed phase one of a US$ 330 million loan agreement with a syndicate of banks towards the refinancing of some of its existing loans. The deal paves the way for extra liquidity and new investments in Topaz’s Offshore  Support Vessel (OSV) operations.  


NKCS Approves FROSIO Inspector Programs

Mr Yasushi Nakamura  NKCS Operating Officer and Mr Ame Michelsen Secretariat Manager of FROSIO

  ClassNK Consulting Service Co., Ltd. has announced the agreement concerning the Certifying Body of FROSIO, as an internationally recognized coating inspector’s qualification. FROSIO is a leading certifying body qualified to grant inspector qualifications to inspect surface


Cheniere to Sell LNG from Corpus Christi to Portugal

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  Cheniere Energy, Inc announced today that its subsidiary, Corpus Christi Liquefaction, LLC  has entered into a liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with EDP Energias de Portugal S.A


Wärtsilä to Proceed with first LNG Terminal

  Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä will commence construction on the site near the port of Tornio in January 2015


Wärtsilä to Begin Building LNG Terminal in January

Tornio Manga LNG terminal (Image: Wärtsilä)

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä will commence construction on the site near the port of Tornio in January 2015


Metal Shark to Build Damen Designs

(Image courtesy of Metal Shark)

Vessel manufacturer Metal Shark has reached an agreement with Damen Shipyards to market Damen designs, which the company will construct at its Franklin, Louisiana shipyard. “We are proud to offer globally proven Damen designs as we expand our footprint in new markets


Zamakona Yards Join Forces with GS Hydro

Pictured from left to right, Mr. Borja Garaygordobil, General Director of Zamakona Yards Canarias and Mr. Pablo Moya, Managing Director of GS-Hydro Spain, Portugal and France

  Zamakona Yards signed a collaboration agreement with finish Multinational GS Hydro.  The agreement, with an initial duration of two years, will include hydraulic services in the already extensive range of services offered by the Zamakona Yards group in the Canary Islands.


Triad, EMP Join Forces

Medaka Eco Solar Ferry

As part of its product rollout strategy Eco Marine Power (EMP) announced today that it has signed a support agreement with Theodosiou Bros Ltd (TRIAD Ltd) of Piraeus, Greece. This agreement between EMP and TRIAD Ltd will lead to the establishment of a technical support hub in Greece from


Nordic American Tankers Announces Newbuild Plan

Two new Suezmax newbuilding tankers increase NAT's fleet size to 24 vessels. Nordic American Tankers Limited (NAT) has announced that it has entered into a preliminary agreement with Sungdong Shipbuilding & Marine Engineering Co., Ltd


CMA CGM Litani Enters the Fleet

cma ship.jpg

CMA CGM Group has  announced the CMA CGM Litani  was delivered on December 3rd, 2014 in China. The CMA CGM Litani  (10,622 TEUs) is the third of a series of 28 vessels from 9400 TEUs to 10 900 TEUs, vessels which will be delivered from now to the third quarter of 2016


NASSCO Licenses LNG Containment Tech to Braemar

Image: Braemar

General Dynamics NASSCO and Braemar LNG BV announce LNG containment technology licensing agreement   General Dynamics NASSCO and Braemar LNG BV, a wholly owned subsidiary of Braemar Shipping Services PLC, have signed a technology licensing agreement for Braemar to use NASSCO’s


Farstad to Perform Subsea Support for Technip

Farstad Shipping ASA has been awarded a five-year framework agreement by Technip Norge AS for delivery of ROV support operations, light construction work, IMR and other subsea related activities.   The agreement gives Technip the right to utilize the vessel up to 320 days per year


Leighton to Sell John Holland

  Leighton Holdings today announced it had entered a binding agreement for the sale of John Holland to CCCC International Holding Limited (CCCI). CCCI is a wholly-owned subsidiary of China Communications Construction Company (CCCC), the fourth largest construction company in the world by


RN-Aero, KazMunayGas-Aero Join Forces

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  RN-Aero (Rosneft subsidiary) and KazMunayGas-Aero (KazMunayGas subsidiary) signed an agreement, substantially increasing cooperation between the Companies. The accord on the signing of the agreement was reached at the IATA International Aviation Forum in Dubai in the end of November.


NewLead & Ironridge Global Reach Settlement

NewLead Holdings

  NewLead Holdings Ltd. announced today that the Company reached a full and final settlement with Ironridge Global IV ("Ironridge") on December 11, 2014 of all disputes between the parties.  Pursuant to the settlement


Scorpio Bulkers Modifies and Sells Shipbuilding Contracts

Scorpio Bulkers Inc. announces agreements to modify and sell existing shipbuilding contracts for six capesize vessels    Scorpio Bulkers Inc. has reached agreements with shipyards in South Korea and Romania to modify six newbuilding contracts for Capesize bulk carriers into newbuilding






 
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