Stolt-Nielsen S.A. announces that Stolt-Nielsen Transportation Group Ltd. (SNTG), a 100% owned subsidiary of SNSA, purchased today 5,400 of SNSA Common Shares on the Oslo Børs at an average price of NOK 190.57 per share (approximately $29.69 at the current exchange rate). The shares were purchased in accordance with the repurchase program announced on August 25, 2005, authorizing Company to purchase up to $200 million worth of its Common Shares or related American Depositary Shares. Accordingly, in conformity with applicable Oslo Børs requirements, we report that Stolt-Nielsen S.A., through its wholly-owned subsidiary, Stolt-Nielsen Transportation Group Ltd., after this transaction has the following ownership (in the aggregate) in Stolt-Nielsen S.A., whose Common Shares are secondarily listed on the Oslo Børs with primary listing (through ADS arrangements) in the United States: Total number of Common Shares purchased: 5,400 Total number of Common Shares owned after purchase: 6,166,450 Percentage of issued shares of such class of shares following such purchase: 9.3% Including today's purchases, the Company has purchased Common Shares totaling approximately $179.2 million under the $200 million repurchase program announced on August 25, 2005. All Common Shares purchased by SNTG are classified as non-voting shares held in Treasury and issued but not outstanding.
During the Subcommittee on Coast Guard & Maritime Transportation hearing on President Obama’s Fiscal Year 2010 Budget Requests for the United States Coast Guard, United States Maritime Administration and Federal Maritime Commission, Chairman Elijah E. Cummings made the following opening statement: “The Subcommittee convenes today to examine the fiscal year 2010 budget requests for the Coast Guard, Federal Maritime Commission, and the federal Maritime Administration.
Kirby Corporation announced the purchase of the stock of Coastal Towing, Inc., the owner of 37 inland black oil tank barges, for approximately $19.3m. Kirby has been operating the Coastal tank barges since October 2002 under a barge management agreement. Kirby also announced the purchase of 21 tank barges from Cypress Barge Leasing, LLC for $15m in cash. Kirby has been leasing the barges since 1994 when the leases were assigned to Kirby as part of Kirby's purchase of the tank barge fleet
Satellite telecommunications firm Globalstar Telecommunications said on Monday that five of its founding partners will provide the company with further equity financing. Under the terms of their agreements, Loral Space & Communications Ltd., Vodafone Group Plc, Qualcomm Inc.; Elsacom, and a France Telecom/Alcatel partnership will purchase 5.2 million shares of common stock of Globalstar for $56 million. Loral will purchase $12 million of this total.
Nautilus Marine Acquisition Corp. announce closing the purchase of Cypriot vessel owner Assetplus Ltd., & expiry of its tender offer. Greece's Nautilus Marine Acquistion describes itself as a newly-organized 'blank check' company (meaning that it is in a developmental stage that either doesn't have an established business plan or has a business plan that revolves around a merger or acquisition with another firm).
Imperial Majesty Cruise Line purchased the S.S. OceanBreeze from Premier Cruise Lines, said President Arthur M. Pollack. The total value of the deal, including the purchase price and planned upgrades to the vessel, is in excess of $16 million. "The purchase of the OceanBreeze reaffirms our commitment to the short-term cruise concept and the South Florida market," said Pollack. The OceanBreeze began to sail under its new ownership on May 20
Ampal-American Israel Corporation (AMPL) announced that Merhav-Ampal Energy Ltd. (MAE), a wholly owned subsidiary of Ampal, has commenced offers in Israel to purchase all outstanding shares of common stock and all outstanding convertible debentures of Gadot Chemical Tankers And Terminals Ltd. The consummation of the offer to purchase the Shares is conditioned upon, among other things, the tender of at least 15.72% of the outstanding Shares of Gadot and the tender of a sufficient number of
The board of Zim Integrated Shipping Services Ltd. has approved the purchase of two container ships for $266.4 million and has option on a third, according Globe Online. The ships will be delivered in early 2010. Last June, the company announced plans to buy eight new container ships for $1 billion from South Korea’s Hyundai Shipyards. This purchase will increase Zim’s fleet by 30%. Source: Globe Online
Golden Ocean Group Limited has agreed to sell the vessel M/V Shinyo Brilliance. The vessel is a Panamax bulker and is one of the long-term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72m net. The strike price for the option is about $20m net and the transaction will thereby free up approximately $52m in
Seaspan Corporation announced the delivery of its 22nd vessel, the Maersk Marystown, a 4800 TEU containership built in 1989. The vessel was purchased from A.P. Moller Maersk A/S and will be time chartered back to APMM for five years from delivery. APMM has options to extend the charter by up to four years from the end of the firm charter period. The Maersk Marystown, formerly named the Maren Maersk, is the third of four sister vessels to be purchased from and chartered back to APMM.
Sterndrive specialist Konrad Marine formally entered a partnership with diesel engine manufacturer Cummins Marine to jointly offer a complete propulsion package to the commercial, military and recreational maritime markets, a partnershipo announced October 9 at the Workboat Show in New Orleans.
Nordic American Tankers Limited inform that, in connection with its previous public offering of 8,125,000 common shares at a public offering price of $8.00 per share, the underwriters have exercised a portion of the option granted to them by the Company and will purchase an additional 1,018
The bulk ship owners announce its initial public offering of 15,500,000 common shares, granting the underwriters a 30-day option to purchase up to 2,325,000 additional common shares. Scorpio say that the net proceeds of this public offering are expected to be used to fund newbuilding vessel
DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, announced that it has suspended purchases under its previously announced program of at the
Epic Gas Ltd. says it has contracted Kyokuyo Shipyard Corporation in Japan to build two 11,000 cbm fully-pressurised gas carriers to be delivered in 2016. This latest order brings the total newbuild contracts for the year to eight fully-pressurised vessels
Scorpio Bulkers Inc. has entered into agreements to purchase five Kamsarmax dry bulk vessels currently under construction in a Chinese shipyard as listed below: Yard
Marcon International, Inc. of Coupeville, Washington reported that the 5,570BHP tug Jabbar has been sold by Awal Marine Services of Manama, Kingdom of Bahrain to TradeWinds Towing LLC of Saint Augustine, Florida. Jabbar, meaning “powerful” or “tremendous” in Arabic
New Zealand Government Transport Minister Gerry Brownlee has announced a $2 million package to help Maritime New Zealand (MNZ) improve New Zealand’s wider maritime response capability following an independent review of its response to the grounding of the container ship 'Rena' off the coast
Scorpio Bulkers Inc. has entered into agreements for the purchase of six Kamsarmax dry bulk vessels and two Ultramax dry bulk vessels, as listed below: Shipbuilders Shanghai Waigaoqiao Shipbuilding Co. 82,000 dwt Q2-14 delivery date
Scorpio Tankers Inc. has announced that it has entered into agreements for the construction of seven Very Large Crude Carriers (VLCCs) and entered into an agreement with an unaffiliated third party to issue shares in exchange for the transfer of ownership to the company of four MR product tankers
Baltic Trading Limited has accepted delivery of the first of two new bulk carriers, 'Baltic Tiger', a 179,185 dwt Capesize vessel, and found a time charter for the vessel without delay. The Baltic Tiger delivered to its charterer, Swissmarine Services S.A
Today in U.S. Naval History - December 2 1775 - Congress orders first officers commissions printed. 1908 - Rear Admiral William S. Cowles submits report, prepared by Lt. George C. Sweet, recommending purchase of aircraft suitable for operating from naval ships on scouting and observation
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it took delivery of the m/v P. S. Palios (formerly JK Pioneer), a 2013 built Capesize dry bulk vessel of 179
The ship will be named “Kronprins Haakon”, in honour of the heir to the Norwegian throne and will be built in Italy in the Fincantieri integrated shipyard in Riva Trigoso-Muggiano, before undergoing final outfitting and sea trials in Norway at VARD – a member of the Fincantieri
Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American