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
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
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
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%.
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 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 $800m Primelead facility consistent with the terms previously announced on February 9, 2009.
Phase One of US$ 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.
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the business through its affiliate CSSC Investment
Scorpio Bulkers Inc. announced that it has received a commitment for a $540 million loan facility and provides an update on the financing of its fleet. On July 21, 2014, the company received a commitment from two European financial institutions for a loan facility of up to $540 million
Greece-based Box Ships Inc. says it has repayed in full the outstanding amount under its loan agreement with Commerzbank AG dated July 29, 2011. The outstanding amount of the loan, as of July 21, 2014, amounted to $21.5 million and the parties agreed to the payment of $15
Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, says it has established two partnership agreements for installation of the chemical-free Hyde GUARDIAN Gold Ballast Water Treatment System (BWTS) for international markets as follows: Grand Bahamas Shipyard
On July 11, Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo (CUPET) Juan Torres Naranjo signed in Havana the Agreement on Cooperation in the Area of Enhanced Oil Recovery at Brownfields. The Agreement was signed in the presence of the Russian President Vladimir Putin and the
Whiting Petroleum Corporation (NYSE: WLL) (“Whiting”) and Kodiak Oil & Gas Corp. (NYSE: KOG) (“Kodiak”) today announced a definitive agreement pursuant to which Whiting will acquire Kodiak in an all-stock transaction valued at $6
Secretary of State of the United States, John Kerry said Sunday that there are still large differences between Iran and six world powers negotiating over Tehran's nuclear program, comments echoed by the Islamic Republic, while the deadline approaches to reach an agreement.
Maersk Line has announced a 10 year Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) on the Asia-Europe, Transatlantic and Transpacific trades. The VSA will be referred to as 2M. It replaces all existing VSAs and slot purchase agreements that Maersk Line has in these
Vard Holdings Limited announced that it has secured a contract for the design and construction of one Platform Supply Vessel (PSV) for E.R. Offshore. The vessel is a multifunctional PSV of VARD 1 08 design with a total length of 81 meters, beam of 18 meters and a cargo deck area of 830 m2
Sound Oil, the Mediterranean focused upstream oil and gas company, announced the appointment with immediate effect of Marco Fumagalli as a Non Executive Director of the Company following the institutional investment announced on 25 April 2014.
The Chinese Ministry of Commerce (MOFCOM) yesterday announced that they have not approved the P3 Network (P3). P3 was a long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line. The MOFCOM’s decision follows a review under China's merger control rules.
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2
Suez Environment subsidiary, SITA UK, and Forth Ports Limited announced a long-term partnership that will see the creation of a major recycling and resource management hub based at the Port of Tilbury on the River Thames. The partnership is part of a growth strategy for both companies that
The positive development within the offshore industry has made its impact on DONG Energy, which is a significant player in the market. The increased activity has made it necessary to extend the company's office and storage facilities in the Port of Esbjerg
Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, announced today it has established two partnership agreements for installation of the chemical-free Hyde GUARDIAN Gold Ballast Water Treatment System (BWTS) for international markets.