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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


Eastern Libya Ships First Oil Cargo in Defiance of Tripoli

A government based in eastern Libya has shipped its first cargo of crude in defiance of authorities in the capital Tripoli, a bold move that could deepen the divisions that have brought chaos since the fall of Muammar Gaddafi.   The Tripoli authorities asked the U.N


Crude Prices up 3% on Gasoline Rally, Weak Dollar

Crude oil prices rose about 3 percent on Tuesday on the back of a rally in the gasoline market and as a tumbling dollar boosted commodities denominated in the greenback after bets the Federal Reserve will hold U.S. interest rates where they are.  


Cargotec Logs Higher Profits

Logo

Cargotec's January-March 2016 interim report: Profitability improved according to target   * Strong order intake in Kalmar and Hiab   * MacGregor profitability satisfactory considering current market situation   * Strategy execution proceeding as planned  


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.


MacGregor Equipment for ESL's Eco-bulker Duo

Photo Deltamarin Courtesy MacGregor

MacGregor, part of Cargotec, has confirmed an important order to deliver hatch covers, cranes, deck machinery and steering gear to two new 25,600 dwt dual-fuelled handysize bulk carriers for Finnish owner ESL Shipping. The ice-class vessels are the first to be built to new classification society


Foss Maritime Sells U.S. Flag Tug

Sale of “Benjamin Foss” by Foss Maritime Company of Seattle Photo Marcon International

Marcon International, Inc. of Coupeville, Washington informed the sale of the 1,700BHP “Benjamin Foss” by Foss Maritime Company of Seattle, Washington to private U.S. interests.   The 78.0’ x 26.3’ x 11.0’ depth x 9


Primorsk Shelves Restructuring Plans

Photo: Primorsk International Shipping

 Russian tanker player Primorsk International Shipping has dropped its restructuring plans in favour of pushing through asset sales, reports WSJ.    This is what Primorsk's lawyers told a bankruptcy court in Manhattan on Friday


Venezuelan Crude Sales to US Declined 7% in March

Exports of Venezuelan crude to the United States fell almost 7 percent in March versus the same month of 2015 to 793,581 barrels per day (bpd), according to Thomson Reuters Trade Flows data, affected by delays at the country's main oil port.  


Otto Marine Offloads Support Vessel for $38mln

SOC ENDEAVOUR. Pic: Otto Marine Limited

 Singapore-based Otto Marine Limited has signed a  Memorandum of Agreement to sell a Work Maintenance Vessel known as SOC  ENDEAVOUR to an unspecified party through  its wholly owned subsidiary,  Koi  Marine Limited.   


Saving with Jotun’s Hull Performance Solutions Guaranteed

SeaQuantum X200’s silyl methacrylate coating technology delivers clean hulls, saving money for owners Photo Jotsun

Jotun has analysed the first ever five year dry-docking of a vessel treated with its Hull Performance Solutions (HPS) system. The data revealed that Gearbulk’s Penguin Arrow, coated with Jotun’s SeaQuantum X200 in September 2010, recorded a staggering estimated fuel saving and CO2


Jotun’s HPS Delivers Fuel, Emission Savings

Penguin Arrow (Photo: Jotun)

Jotun has analyzed the first ever five year dry-docking of a vessel treated with its Hull Performance Solutions (HPS) system. The data revealed that Gearbulk’s Penguin Arrow, coated with Jotun’s SeaQuantum X200 in September 2010, recorded a staggering estimated fuel saving and CO2


Norwegian Archipelago Orders ProZero Workboat

Image: Tuco Marine

Norwegian Archipelago Services purchases another ProZero 10.5 meter workboat; Holmestrand Municipality commissions the vessel for the Archipelago services   Norwegian Archipelago Services has bought a second ProZero workboat. The vessel was sold by Tuco Marine in Denmark in close


Navis, Ideal Tech Partner to Accelerate TOS Projects

Ideal Tech Labs has Entered Navis’ Development & Service Solutions Partner Program   Ideal Tech Labs is an idea accelerator and technology partner for startups, mid-market and enterprise customers. Together with its global clients


Navios Sells 2 Chemical Tankers for $72.9 Mln

Navios Maritime Acquisition Corporation has agreed to sell two chemical tankers to an unaffiliated third party for a sale price of $74.6 million, resulting in an expected book gain of approximately $11.7 million, the company announced today.


Self-unloaders Ordered for New Great Lakes Bulkers

MacGregor, part of Cargotec, has received an order for gravity self-unloading systems for two 29,800 dwt bulk carriers (lakers) from the Yangzijiang shipyard, in China. The vessels will be delivered late 2017 / early 2018 to Canadian Great Lakes operator, Algoma






 
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