U.S. Shipping Partners announced has completed its recently announced acquisition of the Sea Venture, a 19,000 dwt double-bottomed chemical/product tanker. The vessel was re-built in 1983 and is capable of carrying twenty different grades of product in independent cargo tanks. The vessel is being placed in drydock and will be available for trading in April 2006. The transaction was financed utilizing available cash.
Chemoil has fully acquired Allround Fuel Trading Chemoil B.V. (AFT). Chemoil had previously acquired a fifty percent stake in AFT during 1998 and recently announced that it has entered into an agreement to acquire another 50 percent stake in AFT. Following this acquisition, AFT will become a wholly owned subsidiary of Chemoil and will be renamed as Chemoil Europe BV.
Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS) and Chain Corporation International (ChainCo). David Currie will continue to lead Seatronics; and Alan Duncan will head IMS and ChainCo. Both will report to Acteon Vice President Bernhard Bruggaier. The activities of IMS and ChainCo are very much in line with existing Acteon companies InterMoor and Trident – the two new companies will
United Defense Industries, Inc. has completed its acquisition of the U.S. Navy ship repair business of Honolulu Shipyard Inc. (HSI) for $16.1 million. HSI had revenues of $40 million in 2003. The new company, Hawaii Shipyards, Inc., will continue to partner with Southwest Marine (SWM), a unit of United States Marine Repair (USMR), a UDI subsidiary. The Company recently announced a teaming agreement with Bath Iron Works, a subsidiary of General Dynamics, for work on the USS CHAFEE (DDG 90)
Cal Dive International, Inc. announced has completed its acquisition of Horizon Offshore following approval by Horizon's shareholders on December 10, 2007. As a result of the acquisition, each share of Horizon common stock has been converted into the right to receive $9.25 in cash and 0.625 shares of Cal Dive common stock. Information regarding the exchange of share certificates will be sent to Horizon shareholders as soon as practicable.
Nordic American Tankers Ltd. ("NAT") Completes Acquisition of Scandic American Shipping Ltd., the Business Manager of NAT. On December 17, 2012 NAT (NYSE: NAT) announced that it had acquired 100% of the shares of Scandic American Shipping Ltd. ("Scandic"), its management company since 2004. This transaction has now been completed. The Company acquired Scandic from a company controlled by Herbjørn Hansson, NAT's Chairman and CEO, and his closest family
CP Ships and Dannebrog have decided not to proceed with the planned acquisition of Nordana Line by CP Ships. In the month since the acquisition plan was announced on November 14, further discussions revealed a number of issues that prevented the transaction from being completed to both parties' satisfaction. CP Ships remains committed to its strategy of making selective acquisitions to reinforce its position in its principal regional markets.
DryShips Inc. announced that Primelead Limited, a wholly owned subsidiary of DryShips Inc., has effected a compulsory transfer of all remaining shares in Ocean Rig ASA and as a consequence of the compulsory transfer and cancellation of the treasury shares held by Ocean Rig ASA, Primelead Limited is owner of 100% of the shares in Ocean Rig ASA. As of July 10th, 2008 Primelead Limited controls 163,611,380 shares, equivalent to 100% of the shares and votes in Ocean Rig ASA
On October 11, 2010, Konecranes announced that it had entered into an agreement to acquire the Indian crane company WMI Cranes Ltd. (“WMI”). Konecranes has now received the required regulatory approvals, and WMI will be consolidated into Konecranes’ financial reporting from February 1, 2011. The acquisition is expected to be slightly EPS accretive in 2011. Konecranes is acquiring WMI’s shares in two phases
Affiliates of Drew Marine (Drew Marine) completed of the previously announced acquisition of Chemring Group PLC’s (Chemring) maritime interests for cash consideration of £32 million. Under Drew Marine's ownership, the acquired business will be named Drew Marine Signal and Safety (DMSS). DMSS is the world's leading supplier of marine distress signals including handflares, manoverboard buoys, line-throwers and other required rescue products under established brands including Pains
Braemar Shipping Services plc., an international provider of broking, consultancy, technical and other services to the shipping and energy industries, announced its full year results for the year ending February 28, 2013. Financial Highlights
US Firm, Tidewater, agrees with HitecVision to purchase Norway's Troms offshore, including 5 large PSV's. Tidewater say that the acquisition of Troms Offshore, headquartered in Tromsø, Norway, will expand their global footprint into the Norwegian sector of the North Sea and supplement
Mitsubishi Heavy Industries, Ltd. (MHI) completed its acquisition of Pratt & Whitney Power Systems, the small and medium-size gas turbine business unit of Pratt & Whitney (P&W), an aeroengine manufacturer. Pratt & Whitney Power Systems has changed its corporate name to PW Power
Harkand, the international subsea inspection, repair, maintenance and light construction group, announced an agreement to acquire the main assets and business of Veolia Marine Services (VMS). The acquisition will add 150 onshore and offshore staff
Coast Guard Commandant Adm. Bob Papp testifies before two U.S. House of Representatives sub-committees on the USCG Fiscal Year 2014 budget request. At both hearings the Commandant led his opening statement with a message of condolence to the victims of the terrorism attack in Boston
Navios Maritime Holdings & Navios Maritime Acquisition Corp. in J/V sign LOI to buy 10 ships from debtors of HSH Nordbank. The new Joint Venture company, named Navios JV, has executed a binding letter of intent to acquire ten vessels
StealthGas Inc. announced an underwritten public offering of 8,000,000 shares of its common stock pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission. An entity controlled by the family of the Company's President and Chief Executive
Latest Navy contracts issued by the U.S. Department of Defense include: CACI Technologies Inc., Chantilly, Va. Awarded a $20,150,158 modification to previously awarded contract (N00024-13-C-6322) for professional support services in support of Program Executive Office Littoral Combat Ships.
Container ship owners Box Ships Inc. release their financial results for the quarter ended March 31, 2013. Mr. Michael Bodouroglou, Chairman, President and Chief Executive Officer of Box Ships Inc., commented on the report: "Our sector is expected to remain under pressure through the
StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships. The gross proceeds from the offering before the underwriting discount and other offering expenses are $100,000,000
On April 10, 2013 the American Shipbuilding Suppliers Association (ASSA) hosted a roundtable discussion between 35 representatives from member companies; the Honorable Sean Stackley, assistant secretary of the Navy for research, development & acquisition (ASN RD&A); and Elliott Branch
The OMEGA iTHX-SD transmitter lets you monitor and record Temperature, Relative Humidity and Dew Point over an Ethernet network or the Internet with no special software except a Web browser. It serves Active Web Pages to display real time readings
CNOOC Limited announced its key operational statistics for the first quarter of 2013. During the quarter, the Company achieved a total net production of 93.6 million barrels of oil equivalent (BOE), representing 17.3% increase year over year (YoY)
Luxury cruise ship 'Europa 2' is now in the service of Hapag-Lloyd cruises following delivery by STX France. At a formal ceremony, Hapag-Lloyd Cruises has taken delivery of the modern and casual luxury ship Europa 2 from the STX France shipyard in Saint Nazaire
Descartes Systems Group, a global company in uniting logistics-intensive businesses in commerce, acquired KSD Software Norway AS (KSD), a Scandinavia-based provider of electronic customs filing solutions for the European Union (EU). The EU customs compliance market is characterized by a complex