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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)


SES Signed Contracts for delivery of Electrical and Automation Systems

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 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


Cosco in Talks with Greece on Piraeus Port Deal

Greece is in advanced discussions with China's Cosco to boost their cooperation in the country's biggest port Piraeus, the Greek defence minister said on Friday. Cosco, which currently manages two container piers at Piraeus Port, is also interested in acquiring a majority stake


SeaProcurement Version 2.2 Launched

SeaProc Dashboard (Image courtesy of iMarine Software)

Marine eProcurement system adds new features to expand functions and enhance management reporting.    iMarine Software announced today the release of SeaProcurement (SeaProc) Version 2.2, expanding the next generation in marine eProcurement systems to include contract management


Vale Concludes Sale of VLOCs to Cosco

Vale Brasil. Photo by Vale

 Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September.    This transaction is related to the agreement signed with Cosco on September 12, 2014.  


DMW Marine Takes the Lead in Military Cranes

Photo courtesy of DMW Marine Group

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.   Notable projects as listed by DMW include a personnel handling 500 tonne meter knuckleboom crane


Retrieving Valuable Cargo from the Seabed

Image: BMT Surveys

Surveyors are usually engaged to investigate the cause, nature and extent of a claim, damage or incident. Their role in managing projects to salvage cargo is less known. Peer van Oosterhout and Ad de Klerk from BMT Surveys share their experiences in salvaging a cargo worth several million Euros


Greece to Privatize Piraeus Port

Picture by Piraeus Port Authority SA

 Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus, says a report in Bloomberg.   The Hellenic Republic Asset Development Fund, which sells real estate, infrastructure and other government holdings, is sending a revised tender offer to investors


Navy Sale Helps Hornbeck Earnings

Iron Horse. Photo credit: Hornbeck Offshore

 Hornbeck Offshore Services completed the sale of three supply vessels to the U.S. Navy, helping boost profits in the first quarter even as low oil prices put pressure on revenues.   In February, the Navy agreed to buy three supply boats from Hornbeck with an option to purchase a fourth


Bergen Group Cancels Rig Facilities Sale

Photo courtesy of Semco Maritime

The Bergen Group has decided to terminate a sales agreement that would see Semco Maritime acquire its rig service yard facilities at Hanøytangen. The real estate and the rig service activity at Hanøytangen will continue to be under the Bergen Group's ownership.  


Willard Adds Sales Manager for Gulf Coast, Florida

Jimmy Sorenson (Photo: Willard Marine)

Willard Marine, Inc. has hired Jimmy Sorenson as regional sales manager for the Gulf Coast and Florida.   Sorenson served 11 years with the U.S. Coast Guard in many roles including machinery technician and maritime law enforcement instructor, and earned the boat coxswain certification


Nor Lines Launches Cuxhaven RoRo Link

Kvitebjørn by Nor Lines

 The Norwegian shipping company Nor Lines has started a direct weekly RoRo connection between German Port of Cuxhaven and Norway.   The first departure of the liquefied natural gas (LNG)-powered 5,000 dwt short sea cargo vessel MS Kvitbjørn was on May 7


JMS Hires Business Development VP

Justin Manley has joined Juliet Marine Systems (JMS) as Vice President of Business Development and Marketing, the company announced today.   Manley brings over 20 years of experience in the marine technology sector including roles at Massachusetts Institute of Technology (MIT) and with the


Containership Sold in Aruba after Bank Arrest

Haco van der Houven van Oordt (Photo: AKD)

Rotterdam-based law firm AKD has completed the sale at auction of the container vessel Caribbean Sea in the courts of Aruba following its arrest by Rabobank for outstanding mortgage debts in excess of $28 million.   The entire arrest and auction process was completed in just 20 days


Signet Continues US Expansion

Signet continues Gulf of Mexico expansion and opens U.S. East Coast office; awarded multi-vessel contracts - containers to Caribbean ports   Signet Maritime Corporation informs it has completed Phase II of a $250 million capital expansion program with the acquisition and integration of the


Greece Unblocks Piraeus Port Sale

Greece has asked three firms to submit binding bids by September for a majority stake in the country's biggest port, Piraeus, a senior privatisation official told Reuters on Thursday, unblocking a major asset sale. Greece had shorlisted China's Cosco Group and four other groups for a 67 percent


Greece Okays Piraeus Port Sale

Image: Piraeus Port Authority SA

Greece Economy Minister George Stathakis said that his government is dropping its opposition to selling off the Piraeus Port Authority SA. A sale of the Piraeus Port would be a reversal on the part of Greece’s Syriza party-led government, which had earlier pledged to block such moves.






 
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