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Exchange Offer

Sea Containers Extends Exchange Offer

Sea Containers Ltd. marine container lessor, passenger and freight transport operator, and leisure industry investor, has extended the exchange offer for its outstanding 9-1/2% Senior Notes due 2003 and 10-1/2% Senior Notes due 2003, which commenced on May 28, 2003, until 5:00 p.m., New York City time, on Friday, June 27, 2003. The date by which Notes may be tendered through the guaranteed delivery procedure described in the exchange offer materials will not be extended. Accordingly, certificates representing any Notes tendered pursuant to the guaranteed delivery procedure must be received by The Bank of New York, the exchange agent for the exchange offer, not later than 5:00 p.m., New York City time, on Monday, June 30, 2003. As of 10:00 a.m. today, based on the information received from the exchange agent for the exchange offer, approximately $22 million aggregate principal amount of the Notes has been tendered for exchange. Under the rules of the U.S. Securities and Exchange Commission, Sea Containers has filed exchange offer materials with the Commission and disseminated them to the holders of the Notes. These materials may be obtained by contacting Georgeson Shareholder Communications Inc., the information agent for the exchange offer, 17 State Street, New York, New York 10004. Banks and brokers call 1-212-440-9800; U.S. noteholders call toll free 1-866-324-5897; and foreign noteholders call collect +44-207-335-8700.


Euronav NV IPO in the US

EURONAV NV

Euronav NV announced today the upsizing and pricing of its initial public offering in the United States.  The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12.25 for gross base proceeds of USD 199,185,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 2,439,000 ordinary shares.


Northrop Grumman Extends NNS Offer

Northrop Grumman Corporation has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. from Aug. 2, 2001, to Aug. 16, 2001, at midnight E.D.T. Approximately 1,818,000 shares of Newport News Shipbuilding common stock had been tendered to Northrop Grumman as of 5:00 p.m. E.D.T. on Aug. 2, 2001, including approximately 648,000 shares tendered pursuant to notices of guaranteed delivery.


Hornbeck Offshore Completes Exchange Offer of 6.125% Senior Notes

Hornbeck Offshore Services, Inc. (NYSE: HOS) has completed its offer to exchange $225,000,000 aggregate principal amount of its outstanding 6.125% Series A Senior Notes due 2014 (CUSIPs 440543 AA 4 and U44070 AA 5) (collectively, the "Old Notes"), which were sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933 (the "Act") for an equal aggregate principal amount of its 6.125% Series B Senior Notes due 2014 (CUSIP 440543 AB 2) (the "New Notes")


CGGVeritas to Acquire Wavefield

CGGVeritas (ISIN: 0000120164 - NYSE: CGV) announced today it will make a voluntary exchange tender offer for 100% of the shares of Wavefield Inseis ASA ("Wavefield") (OSE: WAVE). Wavefield is a Norwegian pure-play seismic company which operates a fleet of 8 vessels and develops geophysical equipment based on fiber optic technology. In the third quarter 2008, Wavefield revenue was $110m, and operating income was $37m.


Ultrapetrol Completes 100% of Mortgage Note Exchange

Image courtesy of Ultrapetrol

Ultrapetrol announce the results of its offer to exchange all of its outstanding $25.0 million 8 7/8% First Preferred Ship Mortgage Notes due 2021 that were issued in a private placement on October 2, 2013 as follows: The company informs that the notes were issued for an equal principal amount of 8 7/8% First Preferred Ship Mortgage Notes due 2021, that are registered under the Securities Act of 1933, as amended and expired on January 24, 2014 at 5 p.m.


Hyundai Heavy Plans IPO In August

Hyundai Heavy Industries Co. reportedly decided on an initial public offering in August to list its shares on the Korea Stock Exchange.


Korean Shipbuilder IPO Set

STX Shipbuilding Co. had its plans for an initial public offerings (IPO) approved by the Korean Stock Exchange, according to wire reports. STX Shipbuilding has assets of 679.8 billion won ($574.1 million) and 1,460 employees. It seeks to raise up to 68 billion won ($57.26 million) by offering five million shares, the exchange said.


Dry Ships Inc. Offers Ocean Rig Shares

Athens, Greece – Dry Ships Inc., a global provider of marine transportation services for dry bulk and petroleum cargoes and off-shore contract drilling oil services, announced that it is offering 9,000,000 common shares of Ocean Rig UDW Inc. (“Ocean Rig”) which it owns in an underwritten public offering pursuant to Ocean Rig’s registration statement on Form F-1, filed with the Securities and Exchange Commission.


Marine Engine Exchange Offers Grants for Motor Upgrades

Photo: The Port of Los Angeles

In an ongoing effort to improve the air and water quality of San Pedro Bay, the Port of Los Angeles has made additional funding available for its Marina Engine Exchange Program, incentivizing boat owners to replace their older, high-polluting outboard motors with California Air Resources Board (CARB)-certified, “three star”/ultra-low emission-rated engines (up to 10 horsepower). The Port of Los Angeles is offering boat owners 75 percent of the total cost (up to $2


India to sell 5% stake in Dredging Corp

Photo: Dredging Corporation of India

 India will sell 5 per cent of its stake in the country's largest dredging company, Dredging Corporation of India (DCI).    The government will sell up to 1.4 million shares of face value of Rs 10 each, representing 5 percent of the total paid up equity share capital of the company


Hapag-Lloyd IPO Sooner than Planned

Photo: Hapag-Lloyd

 German ocean carrier Hapag-Lloyd aims to launch preparations for an initial public offering (IPO) in September, which is sooner than it originally planned, as a result of strong financial results, says Reuters.   Hapag-Lloyd’s solid second quarter financial performance


ACR Electronics Introduces New AISLink CB1

ACR AISLink CB1 Class B transceiver (Image: ACR)

Suited for a range of recreational boaters and commercial vessels across the world, the new AISLink CB1 Class B transceiver is introduced by survival gear specialist ACR Electronics, a Drew Marine Company.   ACR’s easy-to-use and reliable Class B Automatic Identification System (AIS)


Oil Plunge Deepens High-yield Gloom

US crude fell to a more than six-year low this week, clouding the picture for a high-yield energy sector that already faces a significant cull when credit lines are reevaluated in autumn.   Lower-quality names, especially in exploration and production, are already struggling to stay afloat


Hapag Lloyd IPO Valued at Over $5.5 Bln

Photo: Hapag-Lloyd AG

 A flotation of a minority stake could value the world's fourth-largest shipping group German-Chilean Hapag-Lloyd AG at more than 5 billion euros ($5.5 billion) and could take place as early as autumn.   Hapag-Lloyd AG has already mandated investment banks Deutsche Bank AG


Pearl Seas Cruises Adds Voyages to Cuba

Pearl Mist (Photo: Pearl Seas Cruises)

Pearl Seas Cruises plans to launch a series of “cultural voyages” from the United States to Cuba beginning in the spring of 2016, the cruise line announced today.   Offering 7- to 10-night voyages aboard the line’s newest vessel, the 210-passenger luxury ship Pearl Mist


New Load Measurement Solution for Port of Dampier

Photo courtesy of Strainstall

Strainstall designs and delivers a load measurement solution for the world’s largest floating wharf at Port of Dampier.   Strainstall, part of James Fisher and Sons plc, was commissioned to design and deliver a load monitoring system for the Dampier Floating Deck - the world’s


Shanghai 6th Best Shipping Center Globally

Photo: Xinhua

 Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative, according to a report and index looking at the importance of the world’s key shipping centers.  


Contship Italia Signs Iran MoU

MOU between Contship and the largest Iranian port operato

  Contship Italia Spa, also on behalf of Eurogate GmbH & Co. KGaA, KG, recently signed a strategic Memorandum of Understanding (M.O.U.) with Sina Port & Marine Company (SPMCO), part of SINA Group which is one of the largest Iranian companies


CME Lifts Force Majeure for all Illinois River Grain Terminals

CME Group has lifted its declaration of force majeure at all Illinois River terminals that are regular for Chicago Board of Trade corn and soybean futures delivery, the exchange said in a notice on Tuesday. CME declared force majeure on June 17 due to high water and flooding that made it


China's Mega Shipping Merger Moves a Step Closer

Photo: Cosco Group

 The merger talk between two state-run shipping conglomerates Cosco Group and China Shipping Group is on strong footing on on Beijing’s command.   According to sources, the companies would release an outline plan within three months


Rickmers Raises 2015 Forecast

Rickmers Group published its Half-Year 2015 results, reporting that the company increased its revenues in the first half of 2015 by 6.6 percent from €271.1  million ($301 million USD) to €289.6 million ($321 million), despite the persistently strained market situation and a number


Drewry: Cosco, CSCL Merger to Shake up Container Shipping

Image: Cosco

 Industry analyst Drewry believes that the proosed merger between Chinese state-owned companies, Cosco and China Shipping Container Lines (CSCL), could cause a domino effect on existing carrier alliances and further carrier mergers in Asia damaging to industry competition.  


Singapore Shipping Association to Boost Prospects

Image: Singapore Shipping Association

 The Singapore Shipping Association (SSA) has unveiled a slew of plans to boost the prospects of its members amid tough global industry conditions, reports The Straits Times.   The key initiatives include building up the finance capability of shipping firms here by promoting more stock


Philippines' ICTSI in $450 mln Bond Offering

Philippines port operator International Container Terminal Services Inc (ICTSI) said on Wednesday it is raising $450 million through a bond issue. In a disclosure to the local stock exchange, ICTSI said its board of directors approved on Tuesday night the offering of new senior perpetual






 
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