OMI Corporation announced that it has sold the Soyang, one of its Suezmax tankers, to Jacob Tankschiffahrtsgesellschaft GmbH & Co. KG and agreed to time charter the vessel back for a period of five years. The company has options to extend the time charter and to repurchase the vessel at the end of the time charter. The transaction results in a gain of approximately $5 million dollars, which will be realized over the term charter. The transaction has increased the company’s cash by approximately $20 million after repayment of the debt allocable to the vessel. Craig H. Stevenson, chairman, chief executive and president OMI commented that “in potentially prolonged weak markets, it is especially important to have cash on hand both to withstand the lower cash flow and take advantages of opportunities. This transaction is an important step in increasing the company’s liquidity.”
COSCO Corporation announce delivery of a 57,000 dwt bulk carrier to a European buyer COSCO Corporation (Singapore) Limited announces that COSCO (Zhoushan) Shipyard Co., Ltd ("COSCO Zhoushan"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, named "SUPERIOR", to its European buyer. The delivery documents were signed by and between COSCO Zhoushan and the buyer recently
Todd Shipyards Corporation announced that the U.S. Navy has awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation, a delivery order under its Multiple Award Contract in the amount of $5m for the in-drydock repairs and preservation of Caisson #4 at Drydock #2 at Puget Sound Naval Shipyard in Bremerton, Wash. Work will be accomplished by the Todd Pacific workforce and selected subcontractors commencing in August 2006 with completion scheduled for November 2006
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation (GSF)said that its report of drilling rig status and contract information has been updated as of June 8, 2007. The drilling rig status and contract information report on GlobalSantaFe's offshore drilling fleet is available in a condensed format via the company's Web site at http://www.globalsantafe.com. The report is located in the "Investor Relations/SEC filings" section
Seaspan Corporation announced the delivery of its 23rd vessel, the Maersk Moncton, a 4800 TEU containership built in 1989. The vessel was purchased from A.P. Moller Maersk A/S (APMM) and will be time chartered back to APMM for five years from delivery. APMM has options to extend the charter by up to four years from the end of the firm charter period. The Maersk Moncton, formerly named the Mathilde Maersk, is the final ship in the series of four sister vessels purchased from and chartered
Carnival Corporation announced today that its Board of Directors declared a regular quarterly dividend of 10.5 cents per share for the third quarter ending August 31, 2002. The dividend is payable on September 13, 2002, to shareholders of record on August 30, 2002.
General Maritime Corporation announced the delivery of the Genmar Gabriel to Seatankers Management Co. Ltd. This represents the final delivery of the 17 single-hull and double-sided vessels the Company sold for $444.5 million in October and November of 2005. With the delivery of the Genmar Gabriel, and including the four Suezmax newbuildings to be delivered between March 2006 and 2008, the average age of
Northrop Grumman Corporation announced that it has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. from Aug. 30, 2001, to Sept. 13, 2001, at midnight E.D.T.
Chemoil Corporation announced today that it has filed suit against Shell Trading US Co. (STUSCO) in the Federal Courts of the Southern District of Texas in connection with certain acidic products, which STUSCO supplied to Chemoil during 2003. In this suit, Chemoil is seeking indemnity from STUSCO, as well as damages for breach of contract and other causes of action. This action is directly related to a series of TAN (Total Acid Number) bunker claims received by Chemoil in New Orleans
Danaos Corporation announced that it took delivery of two containerships; the Zim Sao Paolo and the Zim Rio Grande, respectively. Each vessel has a carrying capacity of 4,253 TEU. Both vessels were built by Samsung Heavy Industries and they were delivered approximately a month earlier than scheduled. Each vessel has already commenced its 12 year time charter at fixed rates immediately upon delivery.
Algoma Central Corporation announced earlier this week that it has received payments totaling $41.7 million from two Chinese banks on refund guarantees related to the cancellation of three ocean tanker shipbuilding contracts which occurred in 2010.
Ferus Natural Gas Fuels and ENN Canada Corporation announced a Joint Venture to construct, own and operate two LNG liquefaction plants in Canada. The plants will be strategically located in Vancouver, British Columbia and Edmonton, Alberta to service the on-road trucking market as well as other
Navios Maritime Acquisition Corporation announced that the company and Navios Acquisition Finance (U.S.) Inc., its wholly owned finance subsidiary, intend to offer through a private placement, subject to market and other conditions, approximately $600 million of first priority ship mortgage
Ardmore Shipping Corporation announced the acquisition of a 45,726 Dwt MR product tanker built in October 2006 at Minami Nippon Shipbuilding Co., Ltd., Japan, for a purchase price of approximately $20.5 million. The vessel is expected to deliver to Ardmore in December 2013
Signet Shipbuilding & Repair, (SS&R) a division of Signet Maritime Corporation announced the purchase and operation commencement of its newest heavy lift crane for new construction and repair. The 150-ton crawler crane will be utilized for hauling small vessels and barges from the water
Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, announced today it has established a partnership agreement with Cammell Laird, the largest shipyard in the United Kingdom, for installation of the chemical free Hyde GUARDIAN (HG) Ballast Water Treatment (BWT) System.
Ardmore Shipping Corporation announced that it has been contracted for the construction of four 25,000 Dwt IMO 2 eco-design product and chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (Fukuoka) for a total price of approximately $118 million.
Crowley Maritime Corporation announced today that it will continue to grow its fleet of petroleum vessels and enhance service to customers by contracting with Aker Philadelphia Shipyard Inc. (APSI) to build up to eight product tankers for delivery between 2015 and the end of 2017.
Hyperdynamics Corporation announced that Tullow Oil Guinea Ltd. has formally notified the Republic of Guinea, on behalf of the consortium that is exploring for oil offshore Guinea, of its intent to elect to extend the Second Exploration Period for an additional three years
Signet Maritime Corporation announced delivery of its newest vessel, a Robert Allan designed AZ 25/60 Class towing and escort tug, M/V Signet Magic, on July 26, 2013 from Signet Shipbuilding & Repair, Pascagoula, Mississippi. This Signet owned state-of-the-art ASD will be used at multiple Gulf
Greece-based Navios Maritime Acquisition Corporation announces delivery of a MR2 product tanker & 1-year charter extension for a chemical tanker. Navios confirm the recent delivery of the Nave Equinox, a 2007-built MR2 Ice Class 1A product tanker vessel of 50,922 dwt,
Peak Reinsurance Company Ltd., a Hong Kong reinsurer backed by Fosun International Limited and International Finance Corporation, announced four appointments to strengthen its underwriting and research capabilities in the Asia Pacific region
Northrop Grumman Corporation announced it will submit a bid for the U.S. Navy Consolidated Afloat Network and Enterprise Services (CANES) full deployment contract. "The CANES program is critical to modernizing the Navy afloat network for enhanced security
Calgon Carbon Corporation announced that its Hyde Guardian Ballast Water Treatment System (BWTS), developed and manufactured by its wholly owned subsidiary, Hyde Marine, Inc., became one of the first BWTS to earn Alternate Management System (AMS) approval from the United States Coast Guard (USCG)
Teekay Corporation announced that Geir Sekkesaeter, Senior Vice President, Conventional Fleet Operations, and Head, Technical, Safety and Quality, has decided to leave Teekay for personal reasons, effective as of March 31, 2013. Mr. Sekkesaeter's responsibilities have been transferred to the