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Completes Sale

Keppel Hitachi Cuts Workforce

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 Completes Sale of Communications Equipment Facility

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 Sells Remaining Properties in Newhaven Port

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 Ltd. Reports 3Q Results, Dividend

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


Push Boat for Sale

pushboatforsale.jpg

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


Heesen Yachts Contracts for Superyachts

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)


Aegean Agreement to Sell Ro-Ro Tankers

Aegean Marine Petroleum Network Inc. (NYSE: ANW) announced that it has entered into an agreement to sell its two 2,400 dwt specialty ro-ro tankers, the Maistros and the Ostria, to an unrelated third party. Upon completing the sale of both vessels, which are not related to Aegean's core business for the physical supply of marine fuel, the company expects to realize a net gain in the second quarter of 2009. The company intends to use the proceeds of the sale to pay down debt.


BOURBON Continues to Sell Vessels

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.  


Hellman & Friedman Sells Out of GTT

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)


Hanøytangen Deal Reached – Again

Photo: Bergen Group

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


ABB Propulsion, Automation and Software for Five Cruise Ships

Photo: ABB

ABB will supply the complete power, propulsion and automation package for a series of new cruise vessels being built by MV WERFTEN for Genting Hong Kong brands Crystal Cruises and Star Cruises.   The three Crystal Cruises’ luxury “Endeavor Class” mega-yachts will feature a


US Holiday Imports Exceed Expectations

© Irina Logra / Adobe Stock

 Imports at the United States’ major retail container ports saw an unexpected increase during the industry’s busy holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.  


Grand Bahama Shipyard Stayed Busy in 2016

V Ships USA LLC Boston - CSL Acadian (Photo: Grand Bahama Shipyard)

Grand Bahama Shipyard said it enjoyed a busy 2016, performing repairs, refurbishments and retrofits on vessels from all segments of the commercial maritime industry   The Caribbean shipyard Grand Bahama Shipyard Limited (GBSL) worked on 49 commercial vessels and 20 cruise ships throughout


Hanjin Creditors Oppose Terminal Sale

Photo: Hanjin Shipping Co. Ltd

 US creditors of Hanjin Shipping Co. Ltd.  objected to the Korean courier’s efforts to secure a New Jersey bankruptcy court approval of an asset sale to Mediterranean Shipping Co (MSC), reports WSJ.   Geneva-based MSC, the world’s second largest container operator by


Rickmers Sells Vessel to Survive

Photo: Rickmers Maritime Trust

 Rickmers Maritime Trust has completed the sale of a vessel in connection with the settlement of senior loan facilities that German lender Commerzbank's Singapore branch extended to a unit of the trust.  "The Trustee-Manager wishes to announce that the sale of the “India


Keppel FELS Resells Jackup Rig

Photo Keppel Offshore & Marine

Keppel Corporation Limited (the “Company” or “KCL”) refers to its announcement on 2 August 2013 on the construction contract ("Construction Contract") entered between Keppel FELS Limited (“KFELS”)


Ex-chairwoman of Hanjin Charged With Insider Trading

Photo: Hanjin Shipping

 The Seoul Southern District Prosecutors’ Office said Choi Eun-young,  the former chairman and former CEO of Hanjin Shipping, has been indicted on charges of insider trading.    According to Yonhap, the prosecution alleged that Choi sold stock in Hanjin when she learned


Fincantieri's STX Bid Approved by S.Korean Court

French state holds 33 pct of STX France; acquisition could boost Fincantieri's position in cruise shipbuilding. A South Korean court approved on Tuesday Italy's Fincantieri as the preferred bidder to buy shipbuilder STX France, helping Fincantieri move closer to a deal that could boost its


Aucoin Joins Schottel as U.S. GM

Gary Aucoin and his predecessor Nils Moerkeseth. (Image: Schottel)

Gary Aucoin has joined Schottel Inc. in Houma, La., as the new General Manager. Aucoin is a dedicated sales expert taking over leadership of the growing U.S. subsidiary. Most recently, from 2010, he held the role of account manager at Wärtsilä with responsibility for both new business


BRP Names Pierini as Marketing Director

Olivier Pierini  (Photo: BRP)

BRP has appointed Olivier Pierini to fill the position of director of global marketing and strategic planning for the Marine Propulsion Systems Division (MPS).   In this new role, Pierini is responsible for leading the MPS team to deliver its marketing strategy that includes reinvigorating


Wallace Named Commercial Sales Manager, YANMAR America

Terry Wallace (Photo: YANMAR)

YANMAR America has promoted Terry Wallace from his current role as Regional Sales Manager for the Industrial Engine Division to Sales Manager for the Commercial Marine Division reporting to Yutaka Tanno, Commercial Marine Product Manager, effective January 3, 2017.


Carmanah Acquires EKTA Marine Aids

Pic from Youtube video. Courtesy: Cybernetica AS

 Carmanah Technologies Corporation  has completed the acquisition of the EKTA marine aids to navigation assets from Cybernetica AS of Estonia.    The company had previously announced its intention to acquire the EKTA branded products and contracts on November 29th, 2016.


China COSCO Shipping Buys Shanghai Rural Commercial Bank

Image: Cosco

 Australia & New Zealand Banking Corp (ANZ) has agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank (SRCB) for US$1.33bn.   China Cosco Shipping Corp and Shanghai Sino-Poland Enterprise Management Development Corp had each agreed to acquire 10 percent of SRCB


Megastar's First LNG bunkering at Skangas Pori Terminal

Photo Skangas

To be completed at the Meyer Turku shipyard in late January, Tallink’s new liquefied natural gas (LNG) powered fast ferry M/S Megastar was bunkered with LNG for the first time at the newly opened Skangas Pori LNG terminal on January 4. Her maiden voyage will take place from Tallinn to


Marcon Sells Ocean-going Tank Barge

Photo source:Marcon International PR

Marcon International, Inc. of Coupeville, Washington started out the New Year right with the sale of the ocean-going, combo deck / tank barge “PCC Provider” on 3rd January to Alaskan buyers.   The 5,451 mtdw, 250’ x 74’ x 19’ depth barge was specifically






 
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