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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.


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.


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.


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.


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.


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.


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.


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


Nordic American Offshore: Results of Exchange Offer

Nordic American Offshore Ltd. (NAO) have announced the expiration and results of its offer to exchange unregistered common shares that it issued in its prior equity private placement in November 2013. As of 5:00 p.m. New York City time (11:00 p.m


Unplanned Encounters Discussed at Navy CNO's China Meeting

CNOs China visit: Photo USN

Chief of Naval Operations (CNO) Adm. Jonathan Greenert has left the People's Republic of China (PRC) after a successful four-day counterpart visit with military leaders, fleet units and leaders of the State Oceanic Administration (SOA) says the Chief of Naval Operations Public Affairs Office.


Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report. Stock Buyback Program The company has purchased 6,327,861 of its common shares in the open market at an average


Travel Aboard One of the World’s Largest Containerships

CMA CGM container cruise

  CMA CGM Group is now offering genuine cruises aboard its biggest vessels, the new 16,020 TEUs containerships, such as the CMA CGM MARCO POLO or the CMA CGM ALEXANDER VON HUMBOLDT. These giants of the seas (365 meters long, which is equivalent to more than 4 soccer fields)


EURONAV to Buy 4 Japanese-built VLCCs

EURONAV VLCC Olympia (Photo courtesy of EURONAV)

EURONAV has entered into an agreement for the purchase of four modern Japanese built VLCC vessels for an aggregate purchase price of $342 million. The vessels are on average three years old. This acquisition fits into the company’s strategy to further strengthen its position as the leading


EURONAV Private Offering Raises $125m

EURONAV VLCC Artois (Photo courtesy of EURONAV)

EURONAV announces that it has raised $125 million in total in gross cash proceeds through a private placement of 10,556,808 new shares to institutional investors selected through an accelerated book build offering. Following strong demand, Euronav decided to upsize the initial offering from $100


Baltic Exchange Honors Eyal Ofer with Life Membership

Eyal Ofer: Photo The Baltic Exchange

London's Baltic Exchange informs that the achievements of Eyal Ofer, the principal of ship management company Zodiac Group, have been celebrated with the award of honorary life membership of the Exchange. The prestigious award was last awarded in 2009 to the late Sammy Ofer, KBE


Demerger Proposed at Aker Solutions

Photo: Aker Solutions

The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services


Illinois River Lock Closure May Spur CME Grain Contract Tweaks

An upcoming river lock repair project in south Chicago has attracted the attention of exchange operator CME Group because the lock's closure could disrupt deliveries against its Chicago Board of Trade grain and soybean futures contracts. The U.S


Baltic Exchange Appoint Guy Campbell Chairman

Guy Campbell: Photo credit Navigate PR

Guy Campbell of the China Navigation Company has been appointed by the Baltic Exchange Board of Directors as Chairman for a two year term of office. He replaces Quentin Soanes who served as Chairman from 2012. Welcoming the appointment, Baltic Exchange Chief Executive Jeremy Penn said:


ICE to Add Port of Virginia as Coffee Delivery Point in 2016

Portsmouth Marine Terminal in  Port of Virginia (Photo courtesy of  Port of Virginia)

ICE Futures U.S. will add the Port of Virginia as a delivery point for the arabica coffee futures contract, effective with the September 2016 contract, the exchange said in a notice on Tuesday. An exchange spokeswoman declined to comment on the reason for the addition.


Norcontrol IT Contributes to 12C Security Project

KNC_I2C_Zeppelin.jpg

With the final conference in September and second and final trial campaign taking place at the end of June 2014, the I2C (Integrated System for Interoperable sensors & Information sources for Common abnormal vessel behavior detection & Collaborative identification of threat) integration


Boustead Signs $2.8 bln Contract with Malaysian Navy

Malaysian conglomerate Boustead Holdings Bhd said on Thursday it had signed a 9 billion ringgit ($2.8 billion) contract to supply six patrol vessels with littoral combat ship capability to the Royal Malaysian Navy. Delivery of the first ship is planned in 2017


China lends Argentina $7.5 bln for Power, Rail Projects

Argentine President Cristina Fernandez and her Chinese counterpart, Xi Jinping,

  Argentina signed deals on Friday to borrow $7.5 billion from China at a time when the Latin American country cannot tap global capital markets because of disputes over unpaid debt. Among the deals signed, Argentine President Cristina Fernandez and her Chinese counterpart


BV Opens doors to Their Testing Labs in Germany

  Bureau Veritas Consumer Products Services (CPS) have successfully opened the doors to their testing laboratories in Hamburg and Schwerin on the 9th and 10th July. The event, which was themed around new chemical requirements for consumer products






 
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