The recently completed sale of Keppel Marine Industries Limited's marine-related businesses to Keppel Hitachi Zosen for about $99.4 million has allowed Keppel to "carry out a reduction of headcount in the three yards that will result in savings of about $2.9 million a year. Following the consolidation of Keppel Shipyard, Hitachi Zosen Singapore and Keppel Singmarine Dockyard, under Keppel Hitachi Zosen, the Keppel Group is rationalizing its operations to remain competitive.
BAE SYSTEMS North America has completed the sale of its Advanced Systems' Gaithersburg operation to Integrated Defense Technologies, Inc. The negotiated $146 million cash sale to Integrated Defense Technologies was originally announced Sept. 13. Closing of the sale today followed completion of regulatory reviews and approvals. At the Gaithersburg, Md. Operation, more than 300 employees design and manufacture high performance radio frequency surveillance equipment used in signals
Sea Containers Ltd. has completed the sale of Newhaven Marina, West Quay and Railway Quay in Newhaven, East Sussex, England to Oakdene Homes PLC for $20.7 million (GBP11.25 million) in cash. Sea Containers will report a profit on the transaction of $10.4 million in the fourth quarter of 2005 and proceeds from the sale will be used to reduce company debt. Sea Containers has now sold almost all of its port property interests in the UK and the sale forms part of Sea Containers' ongoing
Quintana Maritime Limited (NASDAQ: QMAR), a leading international provider of dry bulk transportation services, announced its operating and financial results for the three months and nine months ended September 30, 2007. Highlights include: initiated strategic review process to enhance shareholder value; increased net revenues by approximately 156% to $64.0m from $ 25.0m in the third quarter of 2006; increased Adjusted Net Income by approximately 262% to $22.1m from $6
A river and bay push boat built for the U.S. Army Corps of Engineers has been posted for immediate sale. The vessel features include: • Complete rebuild 2006 • Regularly dry-docked and serviced • Good working condition 2009 • 47 ft long x 17 ft wide • Weight: 44 tons • Two 300HP Cummins NT855 Diesel Engines
According to a Feb. 2 report from the SuperYachtTimes.com, the sale of the first of these, YN 16551, a 51-metre, full-displacement vessel was completed in December 2010 to create an enviable total of seven vessels sold during that year. The first sale of 2011 – YN 15850, a 50-metre, all-aluminium semi-displacement vessel – was completed in January 2011. The contract has been signed thanks to a fruitful collaboration with Burgess. (Source: SuperYachtTimes.com)
Bergen, Norway based Scandinavian Electric Systems(SES) has secured orders worth around NOK 350 million for delivery of complete Diesel-Electric propulsion and Automation systems for two plus option for three Jackup Vessels with Lamprell plc in Dubai. The Shipowner is Seajacks International Ltd.. The contract for the two first vessels of NOK 140 million are fixed and firm with optional contracts for the three next vessels worth approx. NOK 210 million.
BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co. BOURBON has completed the transfer of ownership under the agreements with ICBC Financial Leasing (ICBCL) and Standard Chartered Bank (SCB) as part of the sale and bareboat charter agreements signed in 2013, the company announced today.
Gaztransport & Technigaz S.A. (GTT) announces that H&F Luxembourg 1 S.à.r.l., an affiliate of Hellman & Friedman, has completed the sale of its remaining holding in the share capital of GTT in a private placement to institutional investors. Hellman & Friedman acquired its stake in GTT in 2008 and became a shareholder alongside Total S.A. and GDF Suez S.A. In February 2014, GTT completed its successful initial public offering (IPO)
Agreement concluded for the sale of Hanøytangen; new ownership takes over as from today Bergen Group has reached an agreement with Semco Maritime on sale of the rig service activity and with Hellik Teigen AS for sale of the real estate at Hanøytangen. The parties have agreed to uphold the sales price of NOK 245 million, as set out in the agreement which was terminated two weeks ago. The transaction, expected to close by the end of today
ZF Marine, the marine business unit of the global ZF Group, has announced that they have secured a new location for their Gulf of Mexico/Inland Waterway sales and service operations. The company opened its wholly owned location in the greater New Orleans area in late 1996
Royal Boskalis Westminster N.V. (Boskalis) has successfully completed the sale of its stake in SMIT Amandla Marine (SAM). The possible sale had already been announced in March 2016. The stake was sold to management and local investors, thereby returning the business of SAM to 100% South African
Dr. August Oetker KG announces that, after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets. The world's seventh-biggest container operator, Hamburg Süd
Daewoo Shipbuilding & Marine Engineering Co. (DSME) plans to spin off its IT business unit next year in an effort to streamline its business structure, reports Yonhap. The unit, provisionally named DSME Information System, will be started on Jan. 1, the company said
CMA CGM, the world's third-largest container shipping company, posted on Friday another net loss in the third quarter as freight rates remained weak and it integrated Singapore-based NOL, its biggest-ever acquisition. The sector was showing the "first signs of stabilisation" as
Randall Luthi, President of the National Ocean Industries Association (NOIA), does not pull any punches as he weighs in on the Obama administration’s release of the Final 2017-2022 Outer Continental Shelf (OCS) Oil and Gas Leasing Program.
Italian towing company Fratelli Neri S.p.A. has expanded its fleet with the delivery of three new Damen workboats. The trio of vessels will be based in the company’s home port of Livorno, on the Tuscan coast. Damen delivered all the vessels from stock;completing the final outfitting works
Subsea Industries has strengthened its presence in the U.K.’s maritime and renewable energy sectors with opening up of a dedicated marine and offshore coatings office in the U.K. and the appointment of coatings specialist Mark Woods as its U.K.-based technical representative.
Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8 Statoil and Petrobras have completed their previously announced transaction, whereby Statoil has acquired Petrobras’ 66 percent operated interest of the BM-S-8 offshore license in
South Korea's Hanjin Shipping Co Ltd will sell part of its container ship business to Korea Line Corp for 37 billion Korean won ($31.38 million), reports Reuters. Korea Line will buy Hanjin's Pacific routes shipping business, relevant client management information
DryShips Inc., an international owner of drybulk carriers and offshore support vessels, has announced that on November 22, 2016, it has successfully delivered the 2004 built Panamax bulk carrier M/V Sorrento to an unaffiliated third party buyer for a gross price of $6.7 million.
PALFINGER MARINE and Harding Safety recently signed a contract to provide lifesaving equipment and cranes for two fishing vessels being built in Tersan Shipyard. Each vessel will be equipped with two PALFINGER MARINE knuckle boom cranes, one A-frame fast rescue boat davit, and one fast rescue boat
Navig8 Chemical Tankers Inc. today announced that it has taken delivery of the Navig8 Tanzanite, a 49,000 DWT IMO2 Interline-coated chemical tanker, from STX Offshore & Shipbuilding Co., Ltd. (“STX”), the final 49,000 DWT IMO2 Interline-Coated vessel from the Company’s
Speculations about an upcoming sale of Hamburg Süd have intensified in the market, says a report in WSJ. Hamburg Sud, the seventh-largest container-shipping operator world-wide in terms of capacity, is part of the Oetker Group, a family-owned German conglomerate
Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said. Maersk is working with Bank of America on the potential deal