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 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 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 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
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.
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 $21.00 per common unit. The common units will begin trading on the New York Stock Exchange on May 7, 2014 under the ticker symbol “GLOP”. The offering is expected to close on May 12, 2014. The underwriters have a 30-day option to purchase up to 1,260
Singapore-based Wolong International has announced the signing of a licensing agreement with Fr. Fassmer Gmbh of Germany for the production of Wolong (Fassmer Licensed) totally enclosed lifeboats. The agreement, signed on October 1, 2001, serves to synergize the West and East. Production of the Wolong lifeboats is to b e carried out in China and is expected to commence within the month. Fassmer with this agreement will be providing the technical support to Wolong International in upgrading
New York - General Maritime Corporation announced that it had reached an agreement on a modified plan of reorganization with the Official Committee of Unsecured Creditors, funds managed by Oaktree Capital Management, L.P. and their investment entities and holders of more than 40 percent of the Company's Senior Notes. The Modified Plan is also supported by 66-2/3 percent of the Company's key senior lenders, including its bank group, led by Nordea Bank Finland plc
Phase One of US$ 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.
Intellian, a global provider of stabilized marine satellite antenna systems, is partnering with Kymeta corporation to commercialize next generation Ku-band maritime satellite terminals. Intellian announced the partnership today at the SATELLITE 2015 conference in Washington, D.C. The terminals, built by Intellian, will integrate Kymeta’s thin, flat, lightweight, electronically beam-steered mTenna satellite antennas, which are built on metamaterial-based technology.
The Permanent Court of Arbitration in the Hague will oversee a compulsory arbitration between East Timor and Australia on their maritime boundary, it said on Monday, rejecting Australian objections. East Timor asked for the process which could decide on which side of the border lies a large oil
Hanjin’s bankruptcy leaves the proposed carrier grouping THE Alliance at a size disadvantage to both its future rivals. Might a replacement be called up? Drewry says that the container shipping industry is in a state of flux at the moment and nobody can honestly say they
Family owned and Bremen based shipyard, Luerssen acquired storied shipyard Blohm+Voss in Hamburg, the company announced on Wednesday, September 28, 2016. With the acquisition of Blohm+Voss, Luerssen said it is entering into a long-term relationship to strengthen its portfolio in the
Federal Maritime Commission Chairman Mario Cordero announced that the Commission has completed compromise agreements recovering a total of $338,000 in civil penalties. The agreements were reached with one vessel-operating common carrier and six ocean transportation intermediaries (both
Electrochemical technologies firm De Nora has announced a brokerage agreement with MARCAS, a buying group for the maritime industry. The deal means that MARCAS members representing close to 1,700 vessels can access aggregate purchasing deals with De Nora for its BALPURE ballast water
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading construction equipment manufacturer, announced today it enters into an exclusive strategic alliance agreement with CNH Industrial, one of the world's largest capital goods companies
Industry Innovators Combine to lead US Towing Vessel Compliance. Lloyd’s Register North America, Inc. has formally announced to the United States Coast Guard its intention to assume Subchapter M Third Party Organization duties effective immediately
At a signing ceremony at the SMM 2016 Marine Trade Fair in Hamburg, MAN Diesel & Turbo expanded its partnership with Mercy Ships, international provider of charitable healthcare. Under the terms of the agreement, MAN Diesel & Turbo’s after-sales division, MAN PrimeServ
DryShips Inc., owner of drybulk carriers and offshore support vessels, announces deleveraging transaction and vessel sale. It has reached an agreement with Sifnos Shareholders Inc. (sifnos) to convert $8.75 million of outstanding principal amount
The Port of Prince Rupert today announced it has signed a feasibility assessment agreement with SSA Marine and its wholly-owned subsidiary Western Stevedoring to explore the viability of a breakbulk and bulk import/export terminal located on Kaien Island at the Port of Prince Rupert.
SES S.A. (Euronext Paris and Luxembourg Stock Exchange: SESG) today announced the launch of its global SES Maritime+ service that will deliver high-speed connectivity to vessels traversing oceans. SES Maritime+ will enable maritime customers to have easy access to customisable bandwidth and
Navig8 Chemical Tankers Inc. an international shipping company focused on the transportation of chemicals, today announced that it has entered into a sale and leaseback transaction with subsidiaries of Japan-based SBI Holdings Inc (“SBI”) for two 25
Royal Boskalis Westminster N.V. (Boskalis) announces that its Works Council has unanimously rendered a positive advice on the fleet rationalization plan announced early July. Part of the positive advice in an agreement to continue to crew two of the five Fairmount vessels for the time being with
Carnival Corporation & plc has announced that its cruise joint venture in China has signed a non-binding memorandum of agreement (MOA) to order the industry’s first new cruise ships built in China for the Chinese market. The MOA is subject to several conditions including closing of the
DryShips Inc. (NASDAQ:DRYS), or the Company, an international, owner of drybulk carriers and offshore support vessels, today announced that it has sold the 2002 built Panamax drybulk carrier MV Oregon. The vessel MV Oregon, along with the associated bank debt