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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


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


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)


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


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


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.  


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


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)


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.


Primeline Turns Against CNOOC

Photo: Primeline Energy Holdings Inc.

 Primeline Energy Holdings Inc. announces that it has sent a letter to China National Offshore Oil Corporation (CNOOC) and CNOOC China Limited (CCL) (together CNOOC Group) giving formal notice of its intention to commence arbitration proceedings against CNOOC Group under the provisions of the


DSME Reveals Additional Self-Restructuring Plan

Photo: Daewoo Shipbuilding and Marine Engineering

 South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has  revealed an additional self-restructuring plan amid the falling shipbuilding orders.   The company’s creditors, led by the state-run Korea Development Bank


Scandlines' Highest Passenger Transport Record

Scandlines focused business and invested in the future in 2015 Photo Scandlines

Scandlines focused the business on the Germany-Denmark routes and made significant investments in future-proofing the group’s ferry operations as well as catering and retail activities in 2015. Efforts to promote the Rostock-Gedser route paid off for Scandlines having recorded the highest


Heavy LIfting: Moving Modules for Brazilian FPSO

Load-out of the fourth module onto the module carrier MV Mega Trust using Mammoet’s SPMTs. (Photo: Mammoet)

Mammoet delivers full logistics scope for FPSO module integration project    On April 6, Mammoet, a service provider specializing in engineered heavy lifting and transport, completed a load-out of the first set of four modules bound for the FPSO (Floating Production


Hellenic Wind sold for Demolishing

Courtesy Hellenic Carriers Limited

Hellenic Carriers Limited, an international provider of marine transportation services for dry bulk cargoes, on 17 May 2016 sold the Company’s vessel HELLENIC WIND (74,000 DWT built 1997) for demolition to an unrelated third party for a total gross cash consideration of US$2.88 million.


Ship Finance Sells VLCC for $24 Mln

Ship Finance International Limited announced that it has agreed to sell the 1998 built VLCC Front Vanguard to an unrelated third party.   Ship Finance has simultaneously agreed to terminate the corresponding charter party for the 18-year old crude oil carrier with a subsidiary of Frontline


New Zealand’s Freight Traders Imports Drilling Rigs

Photo: Freight Traders

Freight Traders Ltd arranged the duty free importation of two Dillmec drilling rigs into New Zealand.   This included various mobilizations and demobilizations to remote New Zealand locations in the central north island. With the drilling campaigns complete


OceanSaver Completes USCG Testing

OceanSaver informs it has finalized all testing required for the U.S. Coast Guard (USCG) type approval application of ballast water management systems.   OceanSaver concluded testing along the Pacific coast of North America in close cooperation with ship owner CSL


Hydro Strengthens APAC Presence

(L-R) Doug Whyte, Hydro Group managing director and Steve Ang, Hydro Group Asia technical sales manager. Photo Hydro Group

Aberdeen-headquarted subsea cable and connector specialist Hydro Group plc announces multiple Asia Pacific Business Partner agreements as the firm continues strategic growth in the region.   As part of international expansion plans in 2013 the firm formed its Singapore based division


Wärtsilä Joins LNG-powered Bulker Project

The supreme efficiency of the Wärtsilä 31 engine makes it a competitive and viable alternative option for equipping future dry bulk carrier vessels with LNG propulsion. Photo Wartsila

Wärtsilä is to team up with an international group of shipping industry companies and organisations in a project to develop a concept for equipping future dry bulk carrier vessels with LNG propulsion. Project Forward is led by Athens-based Arista Shipping


Pan Ocean on Recovery Path

Photo: Pan Ocean Co.

 S. Korea’s Pan Ocean Co.  is expected to see its earnings improve amid rising Baltic Dry Index (BDI) that affects spot contracts accounting for more than half of the South Korean bulk carrier’s total shipping contracts, reports the Pulse.  


Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui, Bloomberg reported.   The sale process is already underway, Bloomberg reported


Smulders Appointed CEO of Radio Holland

Paul Smulders (Photo: Radio Holland)

Paul Smulders has been appointed CEO of Radio Holland, part of the RH Marine Group (formerly Imtech Marine).   Smulders returns to Radio Holland where he started his career ashore in 1989 as sales engineer deepsea, after a career at sea as nautical officer


Hanjin Shipping May Get OK for Restructuring

Photo: Hanjin Shipping

 South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line, local media reports suggest.    Creditor banks of cash-strapped Hanjin are likely to give the


ExxonMobil 1Q Profits Plunge 63%

Rex W. Tillerson, chairman and chief executive office ExxonMobil

Highlights   * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.   * Earnings per share were $0.43 assuming dilution.   * Cash flow from operations and asset sales was $5 billion, including proceeds associated with asset sales of $177 million.






 
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