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.
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")
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.
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.
Marine Engine Exchange Offers Grants for Motor Upgrades
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
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.
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.
Stolt Offshore Announces Debt for Equity Exchange with Stolt-Nielson
Stolt Offshore S.Atoday announced that the Board of Directors has agreed to accept the offer from Stolt-Nielsen S.A., the company's parent, to exchange $24 million principal amount of outstanding debt owing by the Company to Stolt-Nielsen S.A. for 3 million Common shares at an exchange price of $8.00 per share. On completion of this transaction the total number of Common share equivalents outstanding will be 83.9 million.
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.
Hercules Offshore Files for $8M Share Offer
Hercules Offshore Inc., a drilling and liftboat service company for the energy industry, on March 27 filed with U.S. regulators for an offering of $8 million shares of its common stock. The Houston company said in a filing with the Securities and Exchange Commission that it would sell $1.6 million shares, and stockholders would sell $6.4 million. Credit Suisse and Citigroup are underwriting the offering.
Safe Bulkers Close Series B Preferred Shares
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today the closing of its previously announced public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0
Capesize Bunker Consumption: Baltic Exchange Issues Brokers Guidance
The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS). The London market exchange has provided its shipbroker panel members with further
Safe Bulkers Announce Pricing of its Shares
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that its public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, was priced at $25 per share
California Clarifies BWMS Position
Installation or use of an USCG accepted Alternative Management Systems (AMS) does not waive a vessel's requirement to meet the California Code of Regulations ballast discharge performance standards. In accordance with the California Public Resource Code and California Code of Regulations
Moody's Assess MISC Q1 2013 Results
MISC Berhad results were slightly lower than the quarter ending December 2012 but were in line with its expectation. For the quarter ending March 2013, MISC reported a marginal 2.3% increase in its revenue from the December quarter mainly due to increase in revenue of in its heavy engineering
WSS’s Liferaft Rental Program "Convenient and Cost Efficient"
Iino Marine Service, a ship management company in Japan, has been a customer of the Liferaft Rental and Exchange program (LRE) since 2010. Mr. Araki, Director of Iino Marine Service said, “Operating a high number of vessels on global trading patterns means that we are constantly
Maritime London Delegation to Head for Athens
Maritime London will be leading a delegation of British maritime professionals to Athens, Greece, next month. The high level group will present to an audience of shipowners at the British Ambassador’s Residence on 17 June, 2013. The delegation will be accompanied by UK Shipping Minister
Subchapter M Looms Operators and Suppliers Respond
Amelia Island, Florida: At the second annual Workboat Exchange, held in April at the Ritz Carlton Hotel on beautiful Amelia Island, Florida, about 160 marine buyers and sellers alike got a full taste of the best food, weather and accommodations that the Sunshine state has to offer
Boston to Host AVEVA World Summit 2013
AVEVA announced that the AVEVA World Summit 2013 is being held from October 30 to November 1 in Boston, Massachusetts, U.S. Customers from across the world’s process plant, power and marine industries are invited to the Summit
Ocean Exchange Calls for Innovative Solutions
Solutions submitted to the third annual Ocean Exchange should have the potential to generate economic growth and increase productivity while reducing the use of nature’s resources and waste production. This year’s competition, with a theme of LEAP TO ZERO+
MAN PrimeServ Wins EMC Fleet Contract
MAN Diesel & Turbo has signed a significant engine maintenance concept (EMC) agreement with German shipowner Rörd Braren covering 3 ships. MAN PrimeServ – MAN Diesel & Turbo’s after-sales service brand – recently agreed a closer
Star Bulk Proposes $75 million Backstopped Equity Rights Offering
Star Bulk Carriers Corp. announced that its Board of Directors approved a backstopped equity rights offering, which will allow the company to raise equity capital through the sale of its commonshares. The proceeds are expected to be primarily used for orders for fuel-efficient dry bulk vessels
Tsakos Announces Public Offering
Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator, today announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares (the Series B Preferred Shares) in a public offering under its effective shelf registration statement.
U.K. Government Ministers to Speak at LISW
The U.K. Government has put its support firmly behind the inaugural London International Shipping Week (LISW) by confirming two of its Ministers as main speakers at the LISW Conference to be held at the Lloyd’s Building on Thursday, September 12.
Corrosion Battle Conference at NATO School
Officials from NACE International & ministries of defense convene to compare best practices in combatting material degradation. The U.S. and its allies are serious about battling corrosion on aging aircraft, ships, submarines, and ground vehicles