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
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 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.
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
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%.
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 $800m Primelead facility consistent with the terms previously announced on February 9, 2009.
Singapore-based Wolong International has announced the signing of a licensing agreement with Fr. Fassmer Gmbh of Germany for the production of Wolong (Fassmer Licensed) totally enclosed lifeboats. The agreement, signed on October 1, 2001, serves to synergize the West and East. Production of the Wolong lifeboats is to b e carried out in China and is expected to commence within the month. Fassmer with this agreement will be providing the technical support to Wolong International in upgrading
Phase One of US$ 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.
Athens, Greece, May 17, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities. With this agreement the new maturity date will be May 20, 2011 on both facilities, amended from the current maturity date of May 17, 2011.
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that it has taken delivery of M/V Star Sirius a Post - Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity.
Further to the announcements made on 19 November 2013 and 14 January 2014, FSL Trust informs that its Board will request for resumption of trading of its units on SGX-ST. This announcement comes following the recent agreement reached with lenders regarding a relaxation of FSL Trust
Royal Boskalis Westminster N.V. (Boskalis) announces that it has reached an agreement to acquire Fairmount Marine B.V. and Fairmount Ocean Towage Company B.V. (Fairmount) from the French group Louis Dreyfus Armateurs. The transaction values the company at an average multiple of approximately six
Formerly financially troubled FSL Trust Management (FSL Trust) says in its latest FY 2013 report that it has successfully secured a loan covenant relaxation until 31 December 2014, which they hope will enable them to move forward.
The P3 agreement between Maersk, MSC, and CGM CMA continues to roil the waters. While the agreement’s pros-and cons are about to be scrutinized in an upcoming meeting between America’s Federal Maritime Commission, the European Competition Commission
By Lomi Kriel, Reuters The Panama Canal Authority expects to formally sign a deal next week with a Spanish-led consortium to finish work on expansion of the waterway after a dispute over cost overruns held up completion, an official said on Friday.
Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in
South American Company Agrees to Plead Guilty to Price Fixing on Ocean Shipping Services for Cars and Trucks. First Charges in the Department’s Antitrust Investigation Involving Ocean Shipping Services; Conspiracy Affected Global Cargo Shipments, Including at Port of Baltimore.
Star Bulk charters two fuel efficient newbuilding newcastlemax vessels under 10-year bareboat charters with purchase obligation Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into agreements with CSSC (Hong
Russian Maritime Register of Shipping (RS) signed an agreement with Baku Shipyard LLC of Azerbaijan for the design approval of project 38М сrewboat high speed craft (designer - SHIPTECH, Singapore). The new boats are intended for the carriage of specialized personnel employed at offshore oil and
By Richard Valdmanis, Reuters Cape Wind said on Wednesday it has secured $600 million in financing for its proposed $2.5 billion wind power farm off the Massachusetts coast, and expects to have the rest locked up by the end of the third quarter.
Fireworks marked the first cut of steel in a ceremony last night as construction of TOTE, Inc.’s new Marlin Class, the first liquefied natural gas (LNG)-powered containership in the world, began at the General Dynamics NASSCO shipyard in San Diego, Calif.
By Timothy Gardner, Reuters Excelerate Energy LP said on Monday it has filed a formal application with the Federal Energy Regulatory Commission to build and operate the first U.S. floating liquefied natural gas export facility. The privately-held company hopes the facility
Dometic Marine, a division of Dometic Group, a global provider of leisure products for the marine, recreational vehicle, commercial and passenger vehicle markets, announced that it has appointed Joe Pinto as National Account Manager - Reverse Osmosis Systems
Shell has signed an agreement with the U.K. Government to progress the Peterhead Carbon Capture and Storage (CCS) project to the next phase of design. The project, led by Shell, with strategic support from SSE, owners of the Peterhead gas power station in Aberdeenshire