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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.


Baltic Exchange Mulls Sale

Baltic says holding discussions with several parties. The Baltic Exchange confirmed on Friday it had received a number of "exploratory approaches" after the Singapore Exchange Ltd revealed it was seeking to buy the business which has been the hub of the global shipping market for centuries. Reuters exclusively reported on Thursday that the Baltic Exchange had held talks with SGX and other potential buyers


Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday.


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


India, US to Soon Reach Shipping Information Deal

India and the United States will "soon" conclude a commercial shipping information exchange agreement, U.S. Defense Secretary Ashton Carter said on Tuesday in New Delhi after talks with his Indian counterpart Manohar Parrikar.  


North P&I Suggests Owners Join the CSO Alliance

North P&I Club has partnered with CSO Alliance, an online community of maritime company security officers (CSOs), to encourage its members to join and take part in security-related information sharing. In a first for the P&I sector, all CSOs in North’s 131 million GT owned fleet will


Cruise Ship Sails from US tor Cuba for First Time in 50 Years

Adonia. Photo: Carnival Corporation

A cruise ship is sailing to Cuba from the U.S. for the first time in more than 50 years. The Bermuda-flagged Adonia sailed from the port of Miami carrying some 700 passengers on Sunday.    Cruise firm Carnival's  Adonia left Miami bound for Havana and will also visit the ports of


US Leaders Work toward Supply Chain Innovation

Photo: Port of Los Angeles

The Federal Maritime Commission’s (FMC) Supply Chain Innovation Team Initiative, led by Commissioner Rebecca F. Dye, was launched today at FMC headquarters in Washington, D.C.   Over the next two-days, industry leaders from 34 companies will be working in teams with the goal of


Rolls-Royce Implements Shipdex for Tunnel Thrusters

Rolls-Royce Marine has implemented Shipdex as the data standard for its range produced in Ulsteinvik, Norway, representing the third Rolls-Royce Marine products to adopt the Shipdex standard.   At present the final published output is in pdf


Baltic Exchange Says Talks Ongoing with Potential Buyers

Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its central role in shipping will not be "undermined", the Baltic's chairman said on Wednesday.  


China Steel, Iron Ore Slip Deeper into Bear Territory

Chinese steel and iron ore futures fell deeper into bear market territory on Thursday, as the country's exchanges unveiled more measures aimed at dampening the type of speculative trading behind a powerful rally last month.   The aggressive steps to limit speculative buying have helped fuel


DONG Energy Set for Europe's Biggest Share Float This Year

Photo: DONG Energy

Danish wind farm developer DONG Energy, which analysts value as high as $13 billion, said on Thursday it plans to list its shares on the Copenhagen stock exchange this summer.   Having built more than a quarter of the world's offshore wind farms


Is Container Freight Now a Commodity?

Photo: Xeneta

In an interview with Patrik Berglund, the Xeneta CEO says that the introduction of the "commodity" status for the container would benefit both shippers and carriers.     Q- In today’s world of Amazon, Alibaba and E-commerce


Port Hedland Continues to Forge Ties with Vietnam

Photo: Port Hedland

Further establishing relationships and economic ties were amongst the items discussed as the recently appointed Consulate General of Vietnam, Phung The Long, met with Town of Port Hedland elected members and senior executives.   


New Rules for Ballast Water Management in Australia

Since July 2001, all ships entering Australian ports or waters from overseas have been subject to Australia’s national ballast water management requirements.   These are currently enforced under the Quarantine Act 1908, but from June 16, 2016






 
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