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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


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


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%.


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.  


Norvestor to Become PG’s Largest Shareholder

Per-Ola Baalerud, Partner in Norvestor Equity and chairman designate in PG (Photo courtesy of Norvestor)

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS. The transaction is expected to close end of October 2014


K-Line to Plead Guilty to Price Fixing

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Kawasaki Kisen Kaisha Ltd. (K-Line), a Japanese corporation, has agreed to plead guilty and to pay a $67.7 million criminal fine for its involvement in a conspiracy to fix prices, allocate customers, and rig bids of international ocean shipping services for roll-on, roll-off cargo


Placement of Shares in Triyards Holding

Triyards constantly striving to improve and strengthen their capabilities and processes

  The Board of Directors of Triyards Holdings Limited refers to the Company’s announcements dated 17 September 2014 and 25 September 2014  relating to the placement of up to 29,500,000 new ordinary shares in the capital of the Company


Navig8 to Acquire ECO Chemical Tankers

Navig8Chemical Tankers focused on making the shipping industry more modern and efficient through their professional, reliable and commercially-focused service

Navig8 Chemical Tankers Inc. is pleased to announce that it has signed resale purchase agreements with an agribusiness group  to purchase two ECO 49,000 dwt chemical tankers currently under construction at Hyundai Vinashin Shipyard Co. Ltd. that were originally ordered by the Seller


Catcher Update by Cairn

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  Cairn is pleased to announce that it has entered into a farm out agreement for the sale of a 10% interest in the Catcher development and adjacent acreage in the UK North Sea.  With effect from 1 January 2014 Dyas UK Limited (Dyas) shall acquire 10% in each of the following UK


IMTRA Agrees to Distribute Entire ROCA Wiper Line

IMTRA SIGNS EXCLUSIVE DISTRIBUTION AGREEMENT TO CARRY ENTIRE ROCA WIPER LINE

  IMTRA, the leading manufacturer and importer of quality marine products, announced today an exclusive distribution agreement for the full range of Roca windshield wipers. To cement this relationship, IMTRA is expanding its catalog with the introduction of the largest wiper model that Roca


BSEE, Coast Guard Ink OCS Regulatory Agreement

Thomas and Salerno sign MOA OCS

Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno and U.S. Coast Guard Rear Admiral Paul Thomas signed a Memorandum of Agreement (MOA) for regulating fixed Outer Continental Shelf (OCS) facilities. Through this agreement


CD-adapco Agree FS Dynamics CFD Software Deal

CD-adapco, the largest privately held CFD focused provider of Computer Aided Engineering software, says it has recently finalized a three-year contract, worth over €1M, with FS Dynamics. Since it was founded 10 years ago, FS Dynamics has rapidly grown to become the leading supplier of CAE


DNV GL Supports Call to Put a Price on Carbon

Bjørn Kj. Haugland, DNV GL Chief Sustainability Officer, here with Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), and Erik Rasmussen, CEO of Monday Morning Gl

  DNV GL joins global push to put a price on carbon. Over 1,000 companies and 73 countries now support a price on carbon to start bringing down emissions. Speaking on the sidelines at the UN Climate Summit in New York, DNV GL Group Sustainability Officer Bjørn K


Canal Marine, Techsol Marine Enter Partnership

Canal Marine and Techsol Marine announced a partnership agreement that will combine the companies' expertise for providing marine system design and fabrication, including switchboards, motor and generator controllers, AC/DC drive and winch controllers, alarm and monitoring systems


Vancouver Commends Canada-S. Korea Trade Agreement

Port Metro Vancouver issued an announcement welcoming news of the signing of the Canada-Korea Free Trade Agreement yesterday in Ottawa. The agreement will significantly boost Canada’s trade with South Korea, as well as provide strategic access for the Canadian import and export market to a


Judge Rejects BP Bid to Recoup Some Spill Payments

A U.S. judge has ruled that BP Plc cannot recoup what it says were inflated claims paid under a multi-billion dollar settlement program to compensate people hurt by the 2010 Gulf of Mexico oil spill, NOLA.com reported on Wednesday. BP originally expected the payout program to cost $7


UASC and Hamburg Süd Sign Cooperation Agreement

Photo: UASC

Two leading container shipping lines United Arab Shipping Company (UASC) and Hamburg Süd have signed a global cooperation agreement after a series of discussions focused on the companies’ respective customers’ business needs, key growth areas and operational requirements


Dynagas Partners Announces LNG Carrier Acquisition

Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the partnership's sponsor, 100% of the ownership interests in the entity that owns and operates the Yenisei River


Foster Wheeler For Air Quality Control System Upgrade In West Virginia

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  Foster Wheeler AG announced today that a subsidiary of its Global Power Group’s Environmental and Industrial division has been awarded a contract by Longview Power, LLC to rehabilitate and optimize the wet flue gas desulfurization system at their existing 700 MWe (net megawatt






 
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