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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.


Iran Trade Sanction Relaxation: Limited Effect on Crude Prices Consider Analysts

Iran’s pledge to restrict nuclear work in return for loosened economic sanctions may have a limited effect on crude prices, report Bloomberg, citing analysts who regarded a 2.7 percent slump in Brent as a knee-jerk reaction. The six-month agreement, which offers Iran about $7 billion in relief from sanctions in exchange for curbs on its nuclear program, leaves in place banking and financial measures that have hampered the OPEC member’s crude exports.


S. Korea, Denmark in Flag State Dialogue

Photo Courtesy Danish Maritime Authority

Six government officials from South Korea are visiting the Danish Maritime Authority and, in this connection, they exchange experiences and knowledge about shipping, inspections and safety with the Danish authorities. The South Korean government officials are, inter alia


Rotterdam Implements Paperless Container Transfers

(Photo: Port of Rotterdam Authority)

In the near future, a physical Customs document will no longer be required to transfer containers from one Maasvlakte terminal to the other within the Port of Rotterdam.   Participating terminals APMT, ECT and RWG have made agreements with the Dutch Tax and Customs Administration for a


OSG Joins NYSE "Big Board"

Overseas Shipholding Group leading provider of global energy transportation services, delivering crude oil, petroleum products and liquefied natural gas throughout the world.Courtesy OSG

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer its stock listing to the NYSE from the NYSE MKT


Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year, traders said on Monday.   Marsa Maroc was established in 2006 and manages terminals at nine


USNS Mercy Arrives in 7th Fleet for Pacific Partnership

Photo:  U.S. NAVY

 Hospital ship USNS Mercy (T-AH 19) arrived in the U.S. 7th Fleet area of operations May 24 in support of Pacific Partnership 2016. Now in its 11th year, Pacific Partnership is a multilateral, disaster relief preparedness mission conducted in the Indo-Asia-Pacific Region.   


US, Thailand Naval Exercise in Andaman Sea

Photo:  U.S. NAVY

 The U.S. Navy (USN) and the Royal Thai Navy (RTN) kicked off Exercise Guardian Sea, Andaman Sea comprising bilateral naval training drills that aim to enhance cooperation in the fields of anti-submarine warfare and maritime domain awareness.  


DONG Energy Listing to Value Group at up to $16 Bln

Photo: DONG Energy

DONG Energy's has set a potential $16 billion price tag on its stock market debut, giving investors a chance to buy into the growth in offshore wind power, but also into a business heavily reliant on government subsidies.   State-controlled DONG Energy on Thursday set a price range for its


First German-Latvian Maritime Forum in Riga

A few representatives of the Ports of Liepaja, Riga, Ventspils, L├╝beck, Kiel and Hamburg Photo Port of Hamburg

On 19 May, Ziemelblazma Culture Palace in Riga, the Latvian capital was the venue for a meeting between numerous representatives of the Ports of Liepaja, Riga, Ventspils, Lübeck, Kiel and Hamburg. This was hosted by the three Latvian ports and Port of Hamburg Marketing (HHM)


Diana Containerships Announces Reverse Stock Split

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that its Board of Directors has determined to effect a reverse stock split of the company’s common shares, par value $0


MARACAD to Focus on Training in Dubai

His Excellency Dr. Abdullah Bin Mohammed Belhaif Al Nuaimi Photo Maracad

Three of the maritime industry’s most respected global professional bodies have announced their commitment to September’s Maritime Academic Conference and Expo in Dubai, demonstrating the priority they are giving to regional education and training needs.


Otto Marine Gets Acquisition Offer

Photo: Otto Marine Limited

 After last week's media reports that an undisclosed party was looking to buy Singapores offshore marine company Otto Marine Limited, the company said that it received a proposal from RHB Securities Singapore Pte Ltd (RHB).   RHB is the financial adviser to the potential offer


Seawater Carbon Capture Process Receives US Patent

Rear Adm. Mat Winter, chief of naval research, holds a press conference at the ONR exhibit during the 2016 Sea-Air-Space Exposition. (U.S. Navy photo by John F. Williams)

The Electrolytic Cation Exchange Module (E-CEM), developed at the U.S. Naval Research Laboratory (NRL), provides the Navy the capability to produce raw materials necessary to develop synthetic fuel stock at sea or in remote locations.   


Otto Marine Shares Soar on Delisting Offer

Photo: Otto Marine

Shares in Singapore-based oilfield services firm Otto Marine Ltd jumped 37 percent on Thursday after the company received an offer from its majority shareholder to take it private.   Executive Chairman Yaw Chee Siew, who owns 61 percent of the company, offered S$0


MSC Launches 'myMSC'

Image: Mediterranean Shipping Company (Namibia) (Pty) Ltd

 MSC has recently launched a new customer portal called ‘myMSC’ which allows you to submit your VGM instructions online and much more.   The launch of this portal has been advanced in anticipation of the new SOLAS regulation which comes into effect on the 1st July 2016.


Shipbrokers Challenge Baltic Exchange

Image: Baltic Exchange Ltd

 Several key dry bulk shipbrokers have formed the Competitive Ship Brokers Limited (CSBL) to challenge the Baltic Exchange over their role in the market as it tries to sell itself to the Singaporean financial giant SGX, reports the Telegraph.  






 
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