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. After the exercise of the overallotment option, there are 23,431,370 shares in issue in NAO. The total capital inflow into NAO from the Initial Public Offering and the exercise of the overallotment is in total about $100m. The company intends to use the net proceeds of this offering for acquisitions and general corporate purposes, including working capital. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers. In addition, Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.
Transocean Inc. said its subsidiary TODCO (formerly R&B Falcon Corporation) has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with the previously announced initial public offering of its Gulf of Mexico Shallow and Inland Water business segment. The registration statement relates to TODCO common stock to be sold by Transocean in the offering. TODCO does not expect to sell any shares in the offering.
Chiles Offshore Inc. postponed indefinitely its initial public stock offering because of market conditions, lead underwriters Credit Suisse First Boston said. The Houston-based company expected to price 8 million shares between $17-$19 per share. Chiles Offshore was the second company to postpone its IPO on Monday because of uncertainty in the market, joining Taiwan-based Digital United Holdings Ltd.
Costamare Inc. (NYSE: CMRE), owners and providers of containerships for charter, announced that the company's board of directors declared a dividend for the fourth quarter ended December 31, 2010, of $0.25 per share payable on February 4, 2011 to stockholders of record at the close of trading of the company's common stock on the New York Stock Exchange (NYSE) on January 28, 2011. This is the first cash dividend the Company has declared since its initial public offering on November 4, 2010
According to a report from Dow Jones, Chinese shipbuilder New Century Shipbuilding Ltd. plans to raise $500m - $800m in an initial public offering ahead of a listing in Hong Kong in the first half, Dow Jones sources said. New Century submitted an application for the listing earlier this month and will have a listing hearing at the Hong Kong stock exchange in February, according to those sources. (Source: Dow Jones)
Italian state-owned Fincantieri plans to list a stake close to 50 percent in its initial public offering on the Milan bourse, a source close to matter said on Tuesday. The group, wholly owned by state lender Cassa Depositi e Prestiti (CDP), which in turn is controlled by Italy's Treasury, announced earlier on Tuesday it has filed for listing. The sale of a minority stake in the group is part of a privatisation push the Italian government launched last year to raise funds to cut its
Omega Navigation Enterprises, Inc. took delivery of its Panamax (LR1) double hull product tanker, the Rudolf Schulte, to be renamed the Omega Queen. The Omega Queen is a Panamax (LR1) double hull product tanker of 74,999 deadweight ton (dwt) built by Hyundai Heavy Industries, South Korea in 2004. The acquisition was funded by in part from proceeds of the Company's initial public offering and debt under a senior secured credit facility provided by HSH-Nordbank AG.
Teekay Offshore Partners L.P. agreed to acquire interests in two double-hull shuttle tankers for $160 million from Teekay Corporation (Teekay), the parent of its general partner. The Partnership will acquire the 2000-built Navion Bergen and Teekay’s 50 percent interest in the 2006-built Navion Gothenburg, together with their respective 13-year, fixed-rate charters to a subsidiary of Petrobras Transporte S.A., the shipping arm of Petroleo Brasileiro S.A
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. The Company's common shares are expected to commence trading on June 12, 2014 on the New York Stock Exchange under the symbol "NAO."
Italy's Fincantieri, whose initial public offering started on Monday, will not pay dividends in the medium-term, the shipmaker's Chief Financial Officer Fabrizio Palermo said at the roadshow before the listing. Fincantieri's Chief Executive Giuseppe Bono explained the company would not pay dividends for the next three years. The company, which is wholly owned by Italian state lender Cassa Depositi e Prestiti (CDP) through its Fintecna unit
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange
Citing “unfavorable current capital market conditions,” Euronav NV announced today that it is postponing its contemplated initial public offering of ordinary shares in the United States and related offer to exchange the company’s outstanding unregistered ordinary shares in
Belgian law firm Deminor said it had been contacted by 15 to 20 investment firms considering legal action over the failure of OW Bunker, the world's largest shipping firm which filed for bankruptcy a week ago. Deminor, which specialises in representing institutional investors in class actions
EXMAR (Euronext: EXM) said that due to unfavorable current capital market conditions, it is delaying the launch of the contemplated initial public offering (IPO) of common units in the United States of EXMAR ENERGY PARTNERS LP (the MLP). In a release
Nordic American Tankers Limited (NAT) says it has bought two Suezmax tankers, bringing its fleet to 22 Suezmax vessels. Secondly, Nordic American Offshore Ltd. (NAO) announces a proposed public share offering. Details as follows: 1. Nordic American Tankers
Italian state-owned shipmaker Fincantieri aims to make its debut on the Milan bourse in July with a stock market value of up to 1.84 billion euros ($2.5 billion), it said on Friday. Fincantieri, maker of vessels ranging from luxury yachts to military aircraft carriers
The part reserved to institutional investors in the initial public offering of Italian shipbuilder Fincantieri was still not fully covered as of Wednesday evening, two sources close to the matter said on Thursday. The company is likely to increase the percentage of shares it has reserved for
Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,600,000 common units representing limited partner interests in
Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., has announced the pricing of its initial public offering of 17,500,000 common units representing limited liability company interests at $22.00 per unit.
Höegh LNG Partners LP a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd., announced today the pricing of its initial public offering of 9,600,000 common units representing limited partner interests in the Partnership at $20.00 per unit
GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder
GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30, 2014, excerpted as follows: Highlights Completion of the initial public offering (“IPO”) of
Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion deal to expand its high-end luxury cruise offerings. Shares of Norwegian Cruise, the world's third-largest cruise operator
GasLog Ltd. announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea, to GasLog Partners LP for an aggregate price of $328 million (the “Transaction”)
The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining, monitoring and teaching about Long Island Sound. The $2.7 million environmentally friendly research vessel