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Exercises Option

Singapore's JES Holdings' PSV Newbuild Option Taken Up

UT 755 LN Design PSV: Photo credit: E.R. Schiffahrt GmbH

JES International Holdings Limited reports Norwegian customer has exercised option for four more UT 755 LN Platform Support Vessels (PSV's). The ships will be delivered in early 2015.
 “The group is thrilled that our expansion plans into the offshore space have taken off, and is making good progress. As the requirements for offshore shipbuilding are much more stringent, the group will be making strides in our technical capabilities as well as yard management,” said Jin Xin, chairman and ceo of JES. 


New Navy Contract

Northrop Grumman Shipbuilding, Pascagoula, Miss., is being awarded an $18,604,845 modification to previously awarded contract (N00024-07-C-2302) to exercise options for the accomplishment of follow yard class services for the DDG 51 class AEGIS Destroyer Program and will provide expert design, planning and material support services for both DDG 51 ship construction and modernization. Work will be performed in Pascagoula, Miss., and is expected to be completed by August 2010


Aker Solutions Wins Cat D Drilling Equipment Contract

Aker Solutions has received a Letter of Award from Daewoo Shipbuilding & Marine Engineering (DSME), to supply a further two drilling equipment packages to the 'Category D' drilling rigs the yard is building for the rig operator Songa Offshore. The contract value is undisclosed. The development of the Cat D semi-submersible drilling rigs has been initiated by Statoil, the international energy company. The Cat D drilling rig is a new generation drilling and well intervention vessel


Austal Awarded Navy LCS Assessment Contract

LCS 4 Christening: Photo credit Austal USA

Austal USA gains additional Littoral Combat Ship (LCS) work contract. The United States Department of Defense has announced that Austal USA has been awarded a US$19.987-million modification to a previously awarded Littoral Combat Ship (LCS) contract. The modification exercises options for class service efforts and special studies, analyses and reviews for the LCS program. Austal USA will assess engineering and production challenges, and evaluate the cost and schedule risks


Ardmore Contracted for Chemical Tanker Newbuilds

Ardmore Shipping Corporation announced that it has been contracted for the construction of four 25,000 Dwt IMO 2 eco-design product and chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (Fukuoka) for a total price of approximately $118 million. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015


Latest DofD Navy Contracts

USNS Supply: Photo credit MSC

BAE Systems, Bath Iron Works, and Electric Boat Corp figure in the latest US Department of Defense, Navy, contracts issued, as follows: BAE Systems Southeast Shipyards Alabama LLC, Mobile, Ala., is being awarded a $32,946,457 firm-fixed-price contract for the regular maintenance and overhaul of USNS Supply (T-AOE 6). This contract includes two additional options which, if exercised, would bring the cumulative value of the contract to $42,499,988.  Work will be performed in Mobile, Ala


Transocean Granted Purchase Option Rights for Jackup Rigs

Transocean Inc. has entered into agreements with PetroJack ASA of Norway (PetroJack) providing Transocean with the exclusive marketing rights in respect of three PetroJack jackup rigs under construction, PetroJack I, II and III, as well as options to purchase each unit. The three Baker Marine Pacific Class 375 deep drilling jackup rigs are currently under construction in Singapore with expected delivery dates in 2007 and 2008.


Marinette Marine Wins Navy Deal

Marinette Marine Corp., Marinette, Wis., is being awarded $125,968,000 to exercise an option under a previously awarded firm-fixed-price contract (N00025-03-C-0002) for the manufacture of the improved Navy lighterage system to be delivered at Naval Amphibious Construction Battalion One, Coronado, Calif. and Naval Amphibious Construction Battalion Two, Little Creek, Norfolk, Va., Expeditionary Warfare Training Group Pacific and Blount


Todd Shipyards Announces Notification Decommissioning

Todd Pacific Shipyards Corporation has been informed by the US Navy that the USS Sacramento (AOE 1), is scheduled to be decommissioned on or about October 1, 2004. The Sacramento is one of the four AOE class ships originally covered by the Company's six-year, cost-type contract with the Navy, under which the Navy has options to have Todd Pacific perform maintenance work on the ships. The contract, which is the Company's fourth consecutive


General Maritime Announces Exercising of Three Time Charter Options On Aframax OBO Vessels

General Maritime Corporation today announced that a leading international trading company has exercised its option to time charter three additional Aframax OBO vessels for two years. The contracts for the these three vessels will provide net voyage revenue to General Maritime in the first year of approximately $21 million and could provide an additional $21 million in the second year through the exercising of the charterer's option


Scorpio Tankers Update Finance & Newbuilding News

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers inform of a new $150 million stock buyback program; initial purchasers' exercise of their option to purchase additional $60 million in convertible senior notes due 2019, and newbuilding vessel deliveries. Main points follow: New $150 Million Stock Buyback Program


Fastnet to Farm in Tendrara Lakbir

Fastnet to farm in Tendrara Lakbir

  Fastnet, the UK and Irish listed E&P company focussed on near term exploration and appraisal acreage in Morocco and the Celtic Sea, announced that its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited (Pathfinder) has entered into an amended exclusive option agreement


River Towboat Pair Order for Gulf Island Fab

Towboat: Photo courtesy of Gulf Island

Gulf Island Fabrication, Inc. (GIFI) informs that through its subsidiary Gulf Island Marine Fabricators, L.L.C., it has signed a contract for the fabrication of two 8,000 bhp twin screw diesel-engined river towboats. Revenue backlog and man-hours associated with this project will be reported in


Exercise of Options : Roxi Petroleum Plc.

  Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, announces that following the exercise of options 125,000 new shares ("Option Shares") have been issued. Roxi will apply for these 125,000 Option Shares to be admitted to trading on AIM and it is


Navy Destroyer Contracts for HII & BIW

DDG 51: Photo credit USN

The Navy has announced two separate contract awards for Fiscal Year (FY) 2014 DDG 51 destroyers to Huntington Ingalls Industries (HII) and to General Dynamics Bath Iron Works (BIW). Details as follows: Huntington Ingalls Industries Is being provided funding of $601,990


Latest DoD Navy Contracts

USNS Guadalupe: Photo MSC

Vigor Industrial LLC, Moran Towing Corp., and Maersk Line, Ltd.  figure amongst the latest US Department of Defense, Navy, contract awards for various services as follows: USNS ship repair contract – Vigor Vigor Industrial LLC, Portland, Ore


GD Electric Boat Awarded US$11-million Navy Contract

USS Virginia: Photo credit USN

Amongst the latest listing of US Department of Defense, Navy contracts, GD Electric Boat is awarded a contract to provide submarine repairs. Details as follows: General Dynamics, Electric Boat Corp., Groton, Conn., is awarded an $11,000


NAT Closes Public Offering

Photo: NAT

Nordic American Tankers Limited announced today that, in connection with its previously announced public offering of 12,000,000 common shares at a public offering price of $8.62 per share, the underwriters exercised in full the option granted to them by the company and purchased an additional 1,800


NAT Common Share Offering a Success

Image credit NAT

Nordic American Tankers Limited (NAT) informs that its offering of 12,000,000 common shares, at a public offering price of $8.62 per share, was exercised in full by underwriters, and in accordance with the option granted to them by the Company they purchased an additional 1,800


Scorpio Bulkers Remain Confident Despite Q1 2014 Loss

Bulk carrier: Image Scorpio Bulkers

Scorpio Bulkers Inc. has reported its results for the three months ended March 31, 2014. In connection with comparisons of financial performance they say they had no operations from the period from March 20, 2013 (date of inception) to March 31, 2013.


GasLog to List on NY Bourse

Image courtesy of GasLog

LNG carrier owners and operators, GasLog Partners LP, inform it has priced its initial public offering of 8,400,000 common units representing limited partner interests at $21.00 per common unit. The common units will begin trading on the New York Stock Exchange on May 7


Electric Boat Awarded Submarine Repair Contract Modification

Image credit GDEBC

US Department of Defense informs that a $9,048,214 cost-plus-fixed-fee modification to the previously awarded contract (N00024-13-C-4308) has been awarded to General Dynamics Electric Boat Corp., Groton, Connecticut. The contract is to incrementally fund previously exercised options to provide


DoD Contract Modification Awards to Lockheed Martin, BAE Systems

USS Mason: USN photo

The U.S. Department of Defense inform it has awarded contract modifications to Lockheed Martin Mission Systems and to BAE Systems Norfolk Ship Repair as follows: 1. Lockheed Martin Mission Systems Lockheed Martin Mission Systems and Training, Liverpool, New York, is being awarded a $31,777


Nordic American Offshore Prices IPO

File photo

Nordic American Offshore Ltd. says it has priced its initial public offering of 5,882,352 common shares at $16.00 per share.  The Company adds that it has granted the underwriters a 30-day option to purchase up to 882,352 additional common shares to cover over-allotments.


NAO Exercises Option to Purchase Shares

Nordic American Offshore Ltd. (NAO) announced that the underwriters of the company's initial public offering, which closed on June 17, 2014, have exercised in full their option to purchase an additional 882,352 common shares. The sale of these common shares isexpected to close on June 26, 2014






 
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