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
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.
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
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
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
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.
Marinette Marine Corporation, announced certification of their Quality Management System to the ISO 9001:2008 International Standard by Det Norske Veritas Certification, Inc. Marinette Marine is one of few companies to meet the new ISO 9001:2008 certification requirements which updates and replaces the 2000 version previously certified to in April 2006. In accepting the certificate, Bruce Halverson, Quality Assurance Manager for Marinette Marine noted
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 respective Business Unit Presidents of the Conventional, Shuttle, and Gas fleets, each of whom is a member of the Teekay Senior Leadership Team.
Chevron Corporation announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the development of the Hess Corporation-operated Stampede project in the deepwater U.S. Gulf of Mexico
Seaspan Corporation announced yesterday that it accepted delivery of a 10000 TEU containership, the MOL Brightness. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design
Seaspan Corporation announced today that it accepted delivery of a 10000 TEU containership, the MOL Breeze. The new containership, which was constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd., is Seaspan's sixth 10000 TEU SAVER design containership delivered in 2014
Chevron Corporation announced today that the Hess Corporation-operated Tubular Bells deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. The field is located 135 miles (217 km) southeast of New Orleans, in approximately 4,300 feet (1
Northrop Grumman selected to provide turbine generator units for U.S. Navy's Ohio Replacement Submarine Program Northrop Grumman Corporation announced it has been awarded a contract by shipbuilder General Dynamics Electric Boat to complete detailed design and subsequent manufacturing, assembly
Algoma Central Corporation announces the arrival in Canada and the christening of its second Equinox Class bulk cargo vessel, the 'Algoma Harvester'. The christening took place at Pier 26 South in Hamilton Harbour before an audience that included local dignitaries and members of the marine industry
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2
Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, announced today it has established two partnership agreements for installation of the chemical-free Hyde GUARDIAN Gold Ballast Water Treatment System (BWTS) for international markets.
Fortis Inc. and UNS Energy Corporation announced today the issuance of the final written approval by the Arizona Corporation Commission of the Corporation's agreement to acquire UNS Energy. As a result, all conditions precedent to completing the Acquisition have been fulfilled other than
Northrop Grumman Corporation announced that its latest VisionMaster FT (VMFT) software now includes ADMIRALTY Information Overlay (AIO) as an integral element of its Electronic Chart Display and Information System (ECDIS) based navigation system making additional chart information available to
Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display
Seaspan Corporation announced today that Yang Ming Marine Transport Corp., has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option
Seaspan Corporation announced today that it has entered into an agreement with Greater China Intermodal Investments LLC and Blue Water Commerce, LLC to extend the term of their Right of First Refusal Agreement by one year to March 31, 2016
Carnival Corporation’s multiyear Fuel Conservation Program expected to save more than one billion gallons of fuel and $2.5 billion in fuel costs, while reducing carbon emissions by 12 billion kilograms by the end of 2014; fleet of over 100 ships will see 24 percent improvement in fuel
Chevron Corporation announced today that Rhonda I. Zygocki, executive vice president, Policy and Planning, has elected to retire from the company after 34 years of outstanding service effective Feb. 1, 2015. The company also said it is making new reporting assignments for several executives.