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Stolt-Nielsen Purchased 5,400 of its Common Shares

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.


Cummings (D-Md.) on FY10 Budget Requests

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.


Minoan Flying Dolphins Acquires 10 More Ferries

Minoan Lines subsidiary Minoan Flying Dolphins added to a recent flurry of vessel acquisition with the purchase of 10 more ferries for an undisclosed amount, bringing its total fleet to 63 vessels. The ferries purchased are: Poseidon Express II, Pegasus, Milos Express, Papadiamantis, Poseidon Hellas, Aeas, Apostolos, Hellas, Aphaea and Aegina. Minoan Flying Dolphins' fleet includes 34 new technology ships, 25 of conventional technology, and four RoRo ships.


Zim to Buy Cargo Ships for $266.4m

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


Globalstar To Receive Additional Financing

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.


Stolt-Nielsen Changes Accounting for Two Acquisitions

Stolt-Nielsen Limited announced that Finanstilsynet (The Financial Supervisory Authority of Norway) has completed a review of certain aspects of the company's consolidated financial statements for 2012. The company agreed to reverse $12.3 million of the non-cash gains on bargain purchase relating to the Acuidoro and Moerdijk acquisitions completed during 2012. The non-cash gain on bargain purchase of $4.8 million relating to the Dagenham acquisition has not been reversed.


GulfMark Options to Build Second Aker Vessel

GulfMark Offshore, Inc. has exercised an option to build a second Aker PSV09 design vessel. This vessel, which will be an identical sister ship to the Aker PSV09 currently under construction in Norway, is a 4,850 deadweight ton, diesel electric powered platform supply vessel. The purchase price for this vessel is approximately $30 million, with delivery currently expected during the third quarter of 2007. GulfMark will be the majority investor in a joint venture for the construction of the


Kirby Corporation Purchases Tank Barges

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


Premier's S.S. OceanBreeze Sold To Imperial

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


Greek Investment Company Closes Assetplus Purchase

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).


NewLead Holdings Acquire 5 Vessels

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  NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market.


Kirby Reports Record Earnings

Kirby CEO Joe Pyne (Photo: Greg Trauthwein)

Kirby Corporation announced record net earnings of $68.1 million, or $1.19 per share, for the fourth quarter 2014 (ended December 31). The results bested 2013’s fourth quarter figures of $64.3 million, $1.13 per share. Consolidated revenues for the 2014 Q4 increased 18% to $668


Young to Head New Zealand Shipping Federation

Picture Courtesy: LinkedIn and NZSF

The New Zealand Shipping Federation (NZSF) said it has appointed Annabel Young as its new executive director.  It said Ms Young was a National Party list MP from 1997 to 2002 and since then she has been the chief executive at Federated Farmers, as well as the Pharmacy Guild.  


Tohoku Electric's LNG Buy Sets Asian Spot Level

Japanese utility Tohoku Electric has purchased an LNG cargo for delivery in the third week of March at a price in the low $7 per million British thermal unit (mmBtu) range, pushing Asian benchmark spot LNG prices lower, traders said. Tohoku's tender to buy one cargo closed this week


Global LNG Prices Hold Steady in Weak Trade

Asian spot liquefied natural gas (LNG) prices were little changed on Friday as mild demand and the extended holiday period kept a lid on trading activity.   The spot price for February was steady at about $10.10 per million British thermal units (mmBtu), in line with the previous week


Teekay LNG Partners' Cash Distribution Up by 1.2%

Teekay

  Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended December 31, 2014, an increase of 1.2 percent over the cash distribution of $0.6918 per unit for the quarter ended September 30, 2014


Despite Price Drop, Bunker Costs Still Hamper Shipping

The cost of marine fuel continues to be a major headache for global shipping companies.     Bunker fuel costs account for approximately 70 per cent of the total voyage expenditure for a vessel and ship operators prefer purchasing bunker fuel from ports where the cost is lower. 


Star Bulk's PO to Finance New Builds

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  Star Bulk Carriers Corp. announced today that it plans to make an underwritten public offering of its common stock. The Company intends to use the net proceeds from the offering for its new building program and general corporate purposes.


Diana Shipping Announced Vessel Delivery, Time Charters

Diana Shipping Inc. announces delivery of the newly built Capesize Dry Bulk Carrier m/v Santa Barbara; time charter contracts for m/v Polymnia with Vroon and m/v Danae with Glencore   Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary


Turkish Truckers Eye Caspian Sea Routes to Avoid Delays in Iran

Caspian Sea

Turkish carriers plan to cross near 25 thousand vehicles a year over Caspian Sea with ferryboats and Ro Ro ships to avoid delays on the route across Iran.   The use of ferry boats and Ro-Ro ships would cut excursion time significantly


Trafigura Fixes Australian LNG Cargo

Swiss-trading house Trafigura has purchased one of three liquefied natural gas (LNG) cargoes offered by Australia's North West Shelf export plant as part of a tender awarded late last week, four traders said. The winners of the remaining two cargoes are thought to be a mid-size oil major and a


Avante Expands VSTEP Simulator

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Following the installation of a VSTEP desktop trainer classroom last year, the Avante Escuela de la Marina Mercante in Colombia has now purchased a Class A Full Mission Bridge Simulator to further expand its simulator training capacity. The follow-up order for an additional VSTEP NAUTIS Class


Vroon Adds Twelfth Tanker

Iver Ability (Image by Vroon)

Dutch ship owner Vroon has confirmed the purchase of the MT ST Charlotte, a 2006-built bitumen/molten sulphur tanker. The vessel will be renamed Iver Ability and brings the total number of Vroon's bitumen tankers to twelve.  A statement on Vroon's website said


Sino-Global to Acquire Tanker

RONG ZHOU

  Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"), between the Company and Rong Yao International Shipping Limited


NewLead Expands Fleet to 10 Vessels

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market.   NewLead completed the acquisition of three bitumen tankers






 
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