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Aker Philadelphia Shipyard : Buyback Program of Own Shares

 Aker Philadelphia Shipyard

The Board of Directors of Aker Philadelphia Shipyard ASA has resolved to initiate a buyback program for up to 10% of the Company's share capital. The decision reflects the Company's focus on maximizing shareholder returns over time, its strong financial position, its confidence in its ability to deliver on its operational commitments, and a reflection of the opportunities it sees to further develop its shipping investments. The buyback program will be continuously evaluated to maximize its value to the Company's shareholders, including price at which buybacks are executed. The buyback program will be conducted in accordance with the authorization granted to the Board of Directors by the Annual General Meeting on 9 April 2014. The buyback will be executed at prevailing market prices on the Oslo Stock Exchange. The buyback program will take effect on 21 July 2014 and terminate by the Annual General Meeting in 2015, but no later than 30 June 2015. The Company has entered into an agreement with Pareto Securities AS to carry out the repurchase of the shares on behalf of the Company and within the framework set by the Company with regard to amount, price and timeframe.


Poulsson Appointed ICS Vice Chairman

Esben Poulsson

Singapore Shipping Association Honorary Secretary and International Committee Chairman Esben Poulsson has been elected as a Vice Chairman of the International Chamber of Shipping (ICS). His election took place at the ICS’s recent Annual General Meeting in Oslo. He joins three other Vice Chairmen for 2013-2015: John C Lyras (Greece), Karin Orsel (Netherlands) and Gerardo Borromeo (Philippines). The SSA is an active member of the ICS and Mr


Shareholders Approve Transocean Merger

At its extraordinary general meeting held Dec. 12, 2000 in Houston, Texas, holders of ordinary shares of Transocean Sedco Forex Inc. approved all proposals presented at the meeting, including those relating to the company's pending merger transaction with R&B Falcon Corporation. Shareholders approved an increase in authorized ordinary share capital, the issuance of ordinary shares in the merger, anincrease in the maximum size of the company's board of directors to 13 persons and an increase


Golar 2010 AGM Results

Golar LNG Limited advised that the 2010 Annual General Meeting of the company was held on September 24, 2010 at 10:30 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda.  The following resolutions were passed:   1) To re-elect John Fredriksen as a Director of the company. 2) To re-elect Kate Blankenship as a Director of the company. 3) To re-elect Hans Petter Aas as a Director of the company. 4) To re-elect Kathrine Fredriksen as a Director of the company.


Ferry Guru joins Carus Board

At Carus' Annual General Meeting of Shareholders on the 29th of April, Ove Johan Solem was appointed Non-Executive Director of the Board. Ove has 30 years of experience in shipping and offshore industries. He was MD of Fjord Line and Executive VP of Color Line before changing direction to bring his knowledge to the offshore industry. Most recently Ove has held senior management and board positions within the First Olsen group of companies. He holds an MBA in International Shipping.


Greece's Dryships AGM Appoints Directors, Auditors

DryShips Inc. (NASDAQ:DRYS) provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore deepwater drilling services, announce the results of its 2013 Annual General Meeting of Shareholders. The following proposals were approved and adopted at the AGM: 1. The election of Ms. Chryssoula Kandylidis and Mr. George Demathas as Class C Directors to serve until the 2016 Annual General Meeting of


China Shipping Devt Orders Dry Bulk Carriers, VLOC

China Shipping Development Ltd said it will pay more than $800m for 10 dry bulk carriers and four very large ore carriers. It said the dry bulk carriers were ordered from subsidiaries of its parent, China Shipping (Group) Co. Six carriers of 57,300 dead weight tons and four of 57,000 DWT will be delivered by June 2012 at the latest, the company said. They will be used to transport coal and other bulk cargo. The purchase is subject to approval by independent shareholders of China


Viking Life-Saving Equipment CEO Retires

Viking Life-Saving Equipment A/S CEO and Group Managing Director, Kjeld Amann, will retire following the group’s annual general meeting on March 15, 2010. During Amann’s tenure as CEO the group has grown its business volume considerably. The company has enlarged its global owned network of sales, service and stock points to more than 50 and with more than 250 certified service and sales agents. Amann will be succeeded as CEO by Henrik Uhd Christensen the present Global Sales and


Newman Transocean CEO in March

Transocean Ltd. (NYSE:RIG) announced the effective date for Steven L. Newman to become CEO is March 1, 2010. As previously announced, Newman will succeed Robert L. Long, who is retiring as CEO. In keeping with current corporate governance best practices, Long will also be resigning from the company's Board of Directors effective February 28, 2010. Newman will be included on the Annual General Meeting of Shareholders agenda in May as a candidate for election as a member of the Board of


Ian C. Strachan Elected Transocean Chairman

The Board of Directors of the company elected Ian C. Strachan to serve as Chairman of the Board effective May 18, 2013. Mr. Strachan replaces J. Michael Talbert who was not re-elected at the company's annual general meeting held on May 17, 2013. Mr. Strachan has served as director of the company since December 1999. Most recently, he served as chairman of the Finance Committee of the company as well as serving on the Corporate Governance Committee of the company.  


Aker Philadelphia Shipyard ASA : Purchase of own shares

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  Aker Philadelphia Shipyard ASA (the "Company") (Oslo: AKPS) has on 21 July 2014 purchased 2,155 shares in the Company on Oslo Axess at an average price of NOK 160.64 per share with a total consideration of NOK 346,190. Following the transaction, AKPS holds a total of 2


Aker Philadelphia Shipyard ASA: Purchase of own shares

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  Aker Philadelphia Shipyard AKPS), a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market, has on July 25, 2014 purchased 1,465 shares in the Company on Oslo Axess at an average price of NOK 158.68 per share, implying a total consideration of NOK 232


Boskalis to Launch Share Buyback Program

Royal Boskalis Westminster N.V.

  Royal Boskalis Westminster N.V. (Boskalis) announces the start of its share buyback program. Within the framework and based on the principles of its business plan for the 2014-2016 period Boskalis intends to execute a buyback program for up to 10 million of its own shares


Green Marine, ACPA Partner to Reduce Environmental Footprint

Green Marine and the Association of Canadian Port Authorities (ACPA) have entered into a Memorandum of Understanding with the goal of jointly expanding efforts to reduce the marine industry’s environmental footprint and encourage the industry to continuously improve its environmental


ICS Publishes Annual Review

ICS Chairman, Masamichi Morooka

The International Chamber of Shipping (ICS) has published its latest Annual Review of maritime policy and regulatory developments in advance of its Annual General Meeting. The 2014 Annual Review covers the wide-ranging scope of ICS’s activities as the world’s principal


Leighton Chairman retires, Executive Chairman & 2 Directors appointed

Leighton Holdings Chairman, Mr Bob Humphris OAM

  Leighton Holdings Chairman, Mr Bob Humphris OAM, has announced his retirement as Chairman and his resignation as a Non-executive Director effective as of today. Mr Humphris signaled his intention to retire at the Company’s recent Annual General Meeting in May.  


Foster Wheeler Files Definitive Proxy Materials For EGM

Courtesy Foster Wheeler

Foster Wheeler AG announced today that it has filed with the U.S. Securities and Exchange Commission (SEC) definitive proxy materials in connection with its Extraordinary General Meeting (EGM) to be held on July 10, 2014 at the Company’s offices in Baar, Switzerland


McCabe Named President at Nautical Institute

Robert McCabe

On his election yesterday as President of The Nautical Institute, Captain Robert McCabe FNI issued a challenge to members and branches to evaluate their contribution to the Institute as a “responsible and independent voice for the maritime industry


Nordic American Tankers AGM Agrees Share Capital Increase

Nordic American Tankship: Photo credit NAT

Nordic American Tankers (NAT) informs it held its Annual General Meeting (AGM) recently in Hamilton Bermuda.  The following resolutions were approved: All of the nominees of the Board of Directors were approved to serve until the next Annual General Meeting of Shareholders;


Keith Kirby, Director of Hurricane Energy Resigns

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  Hurricane Energy plc announced the resignation of Keith Kirby as a director of the Company. In light of this, resolution 3 relating to the re-election of Keith Kirby has been withdrawn from consideration at the Annual General Meeting that was held on 23 June 2014


Directorate Changes At Sound Oil

Courtesy Sound Oil

  Sound Oil, the Mediterranean focused upstream oil and gas company, announced that the Board of Directors has decided to implement certain changes to reflect recent progress and developments.   Sound Oil's current Chairman, Andrew Hockey


Philly Tankers Step Closer to Its First Vessels

Philly Tankers Step Closer to Its First Vessels

  Following the announcement of 10 June 2014 by Aker Philadelphia Shipyard ASA  (AKPS) Philly Tankers had successfully secured equity commitments necessary to finance the purchase of two product tankers from AKPS with deliveries in 2016 and 2017.


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


Transocean to Appoint Miller to Board

Transocean Ltd. said it is to convene an Extraordinary General Meeting (EGM) of Shareholders September 22, 2014, in Zug, Switzerland, to approve Miller's appointment as follows: Assuming Miller is elected by shareholders at the EGM, the board intends to designate him as Vice Chairman.


Aker Philadelphia Shipyard to Pay Dividend

Aker Philadelphia Shipyard

  ]On July 16, 2014, the Board of Directors of Aker Philadelphia Shipyard ASA (Oslo: AKPS) resolved to pay a dividend to the shareholders of AKPS as of expiry of July 22, 2014, of NOK 1.5 per share, in aggregate NOK 18,862,149. The resolution was made pursuant to an authorization granted






 
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