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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.


Buy and Sell Vessels from a Mobile Device

Photo: SDSD

The maritime software development company SDSD are launching a new web based VSnP - Vessel Sale and Purchase module, enabling Sale and Purchase brokers to buy and sell vessels from anywhere via a smartphone or tablet.   VSnP can improve brokers’ trading margins through key features


Volvo Penta Names Brown Commercial Marine Sales Director

Dave Brown (Photo: Volvo Penta of the Americas)

Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales.   In this new position, Brown will provide strategic and administrative direction and leadership to support overall segment growth. His primary focus will be to secure and maintain effective business


Navig8 Acquires Chemical Tanker from STX

Photo Navig8

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Topaz, a 49,000 DWT IMO2 Interline-coated chemical tanker


UASC to Sell Chemical Tanker Unit

Photo: United Arab Shipping Co

 United Arab Shipping Co (UASC) is considering the sale of its stake in United Arab Chemical Carriers (UACC) for oil and petrochemicals  as part of its plans to merge with German container line Hapag-Lloyd, says Bloomberg.  


ISS Awarded NYK Liner Agency in Australia

Maritime and logistics service provider Inchcape Shipping Services (ISS) has been awarded the NYK Liner agency in Australia.     Part of transportation company Nippon Yusen Kabushiki Kaisha Group, NYK Line container services has appointed ISS to represent its New Zealand Singapore


Bering Sea Deal a First for Inmarsat Fleet Xpress

Alaskan Leader (Photo: Alaskan Leader Fisheries)

Inmarsat announced that its partner Network Innovations (NI), together with Fusion Marine Technology, have signed a contract with Alaskan Leader Fisheries to install Fleet Xpress, Inmarsat’s new high-speed broadband maritime communications service, powered by Global Xpress (GX). 


Vard Bags Electrical Work for UK Polar Research Ship

Artists impression of the new polar vessel. Copyright Cammell Laird  BAS. Image NERC

Vard Holdings Limited's subsidiary Vard Electro AS has secured a contract for the delivery of an engineering and electrical installation package for U.K.’s new $290 million polar research vessel under construction for the Natural Environment Research Council (NERC).


Interest in RBS Greek Shipping Unit Cools after Brexit Vote

Royal Bank of Scotland is facing setbacks over a proposed sale of its Greek ship finance business, with potential suitors backing off, partly because of the British vote to leave the European Union, sources told Reuters.   Britain's June 23 vote has raised the risk of recession and earnings


Interest in RBS' Greek Shipping Unit Cools Post-Brexit Vote

The Royal Bank of Scotland is facing setbacks over a proposed sale of its Greek ship finance business, with potential suitors backing off, partly due to the British vote to leave the European Union, sources told Reuters.   Britain's June 23 vote has raised the risk of recession and earnings


NOIA’s Luthi Testifies at House Natural Resources Subcommittee Hearing

NOIA - Randall Luthi President of the National Ocean Industries Association Photo NOIA

NOIA President Randall Luthi released the following statement after providing testimony today before the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources on H.R. 5577, the Innovation in Offshore Leasing Act:  


Damen Completes Thor Facelift

Thor undertakes refurbishment Photo Damen Shipyards Dunkerque

The DP1 jack-up vessel Thor owned by the DEME Group has completed a short stay at Damen Shiprepair Dunkerque (DSDu). During her time at the yard her hull was repainted in the new DEME livery and her thrusters inspected. Measuring 70 metres by 40 metres


Italians Seen Bidding for Greek Railways, Russians Uncertain

Italy's state railway is expected to bid for its Greek counterpart TRAINOSE, but Russian Railways (RZD) is less likely to do so, sources with direct knowledge of the matter told Reuters on Tuesday.   Privatisations, a key part of Greece's international bailout agreements since 2010


Greece Pin Great Hopes on COSCO-Piraeus Port

Chinese Premier Li Keqiang (L, front) holds a welcoming ceremony for visiting Greek Prime Minister Alexis Tsipras (R, front) before their talks in Beijing, capital of China, July 4, 2016. Photo: Xinhua

 Greece’s deal with Chinese shipping giant COSCO is “helping the country stand on its feet,” Greek Prime Minister Alexis Tsipras said.   “We are sending a strong message to the international markets that Greece is decisively entering a new phase


Swiftships to Procure Patrol Craft Kits for Egyptian Navy

Photo: Swiftships

Naval Sea Systems Command (NAVSEA) awards contract to Swiftships for four 28-meter KITs for the Egyptian Navy   On June 28, 2016 Louisiana-based Swiftships, LLC, was awarded a $15 million firm-fixed-price (FFP) contract involving Foreign Military Sales (FMS) to procure four 28-meter KITs


Delgado Fire and Industrial School Deploys Transas Technology

Photo courtesy of Transas

In a brand new 19,000 square foot Maritime and Industrial Training Center in New Orleans, the Delgado Fire and Industrial School offers training via a combination of Transas and XVR simulation technology.   Delgado is the first training center in the world to deploy XVR Incident Command






 
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