Marine link
 

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


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


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


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.


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


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.


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


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.  


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%.


Continership Alliance Expands to US Trades

Photo courtesy of Evergreen Line

The CKYHE Alliance (COSCO, "K" LINE, Yang Ming, Hanjin Shipping, and Evergreen Line) has announced they will expand their cooperation scope to U.S. Trades and CKYHE files an Agreement and reports to related regulators to comply with their regulations.    


Salamander Energy Updates on SONA Transaction

Greater Bualuang Area

  Salamander Energy said it has submitted a draft shareholder circular to the Financial Conduct Authority in relation to previously stated plans to divest of an interest in the Greater Bualuang Area. Salamander had announced on July 21 the signing of an agreement under which Sona


Mitsubishi: First-Ever Licensing Deal to Chinese for Marine Propellers

The signing ceremony.

Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME), a group company of Mitsubishi Heavy Industries, Ltd. (MHI),  concluded a licensing agreement with Changzhou Zhonghai Marine Propeller Co., Ltd. (CZZH) under which MHI-MME provides CZZH the manufacturing and


Rolls-Royce Expands in the Canary Islands

Rolls-Royce announced it has signed a cooperation agreement with the Astican Shipyard in Las Palmas, Canary Islands that it said will enhance the service capabilities of both parties to meet growing demand from rig and drillship owners. A new 1


LNG America, Buffalo Marine to Design LNG Bunker Fuel Network

Image: LNG America

LNG America announced it has entered an agreement with Buffalo Marine Service, Inc. (Buffalo Marine) to cooperate on the design of an LNG bunker fuel network for the U. S. Gulf Coast region. LNG America is developing a hub-and-spoke delivery system for LNG as fuel for the marine market and


IMO to Review BWM System Type Approval Guidelines

As proposed by INTERTANKO and its industry partners, the IMO has agreed to commence a review of the ballast water management system (BWMS) type approval guidelines (G8) and at the same time agreed not to penalise those owners who have already installed BWMS that are approved in accordance with the


AVEVA, Capgemini Bolster Global Alliance

Complementary expertise enables asset-intensive industries to reduce risk and increase profitability AVEVA and Capgemini today announced the signing of a global alliance agreement, which the companies expect will benefit asset-intensive industries such as oil and gas, process, power


BOEM Proposes O&G Lease Sale in Gulf of Mexico

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank today announced that the bureau will offer 40 million acres offshore Louisiana


Donohoe Welcomes Ships’ Light Dues Arrangements

Minister for Transport, Tourism and Sport Paschal Donohoe T.D., announced today that he has agreed arrangements with his U.K. counterpart, Minister John Hayes MP, for light dues paid by ships coming into ports in Ireland and the United Kingdom from April 2015


Wärtsilä Bags Wagenborg's Maintenance Contract

Multipurpose Dry Cargo Carrier Adriaticborg is one of the Wagenborgs 15 vessels under Wärtsilä maintenance

Wärtsilä and Wagenborg Shipping B.V. have signed in June 2014 a six-year Maintenance Agreement for fifteen of Wagenborg's dry cargo carriers. Under the agreement Wärtsilä will provide all maintenance planning and services for the installed engines and propulsion systems with


Bore and P&O Ferries JV add RoRo Vessel

PO Partners Bore

  Bore and P&O Ferries announces today that they have agreed to add a further RoRo vessel to the long-standing partnership in the North Sea. M/V Estraden will be added to the vessel portfolio sailing for P&O alongside M/V Norsky, M/V Norstream and M/V Bore Song


Euronav Announces $340m Credit Facility

The executive committee of Euronav NV announced that it has signed a new $340 million senior secured credit facility led by ING Bank NV acting as sole Bookrunner and together with Citibank NA, Danish Ship Finance A/S, DnB Bank ASA and KBC Bank NV acting as Mandated Lead Arrangers whilst Belfius


FMC Recovers $503,000 in Penalties

FMC_seal.JPG

Chairman Mario Cordero announced that the Federal Maritime Commission has completed compromise agreements recovering a total of $503,000 in civil penalties. The agreements were reached with five non-vessel-operating common carriers (NVOCCs)


Woodside's Farm in Agreement for Cameroon

Cameroon

  Woodside has finalised an agreement with Noble Energy and Glencore to farm in to the Tilapia Production Sharing Contract (PSC) off the coast of Cameroon. The 3875 km² block is located within the Douala Basin, offshore southwest Cameroon in water depths ranging from the shoreline to


Niger Cabinet Approves New Areva Uranium Deal

 Niger's cabinet of ministers on Friday approved a renewal of French nuclear group Areva's uranium production deal in the West African nation, the government said on Friday, completing two years of often fraught negotiations. The two parties announced the signature of a new 10-year






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright