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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.


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


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.


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).


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.


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


Golden Ocean Group Announces Sale

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


AMPL: Offer to Acquire Gadot

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


Litigation Can Cost Shipbrokers an Arm & a Leg

File photo CCL3

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts, reports trade association Maritime London. Indemnity insurers ITIC gave a panel of London solicitors – all


SC Ports Report Record Pier Container Volumes

Photo courtesy SCPA

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,616 boxes, totaling 692,338 pier containers fiscal year to date.


Nigeria Maritime Academy Gets Bridge Simulator

Photo courtesy NAUTIS

A NAUTIS Full Mission Bridge Simulator was purchased and delivered to the Maritime Academy of Nigeria in Oron. The new simulator will be used to provide qualitative education and training for the merchant Navy and maritime industry in full accordance with international standards.


Cargill to Buy 100,000mt of Certified Ivorian Cocoa

U.S. agribusiness trader Cargill aims to purchase 100,000 metric tons of certified Ivorian cocoa this season, up slightly from 95,000 metric tons last season, West Africa managing director Lionel Soulard said on Thursday. The mid-crop in the world's top cocoa grower started officially on April


Saltchuk Acquires Tropical Shipping

Photo: Tropical Shipping

A subsidiary of Saltchuk Resources, a transportation and petroleum distribution company, has entered into a binding purchase and sale agreement to acquire Tropical Shipping and its related companies. The acquisition includes the premier shipping and logistics company for the Bahamas and


IMCO Purchases NAUTIS ECDIS

imcologo.jpg

A classroom of NAUTIS Desktop Trainers and a NAUTIS Instructor Station was purchased by the International Maritime College Oman (IMCO). The simulators allow the IMCO to add certified ECDIS Model course 1.27 training to its curriculum. The classroom was delivered and installed by VSTEP engineers at


Russia: European Demand for O&G May Flag

A Russian deputy economy minister said on Tuesday that he did not rule out weaker European demand for Russian oil and gas due to tension over Ukraine. Andrei Klepach also told reporters that Ukraine is likely to reduce Russian gas purchases this year to 20 billion cubic metres, from 25


NewLead to Acquire Two Panamax Dry Bulk Vessels

NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three


Petroperu Tenders to Buy ULSD Cargoes

State-run Petroperu launched a tender to buy six 290,000-324,800 barrel cargoes of ultra low-sulfur diesel (ULSD), to be received from May to June at its Conchan, Mollendo and Callao ports in Peru, according to an invitation seen by Reuters on Wednesday.


Navios Logistics Offers Cash Tender, Consent Solicitation

Photo: Navios South American Logistics Inc.

Navios South American Logistics Inc. announced today that it and Navios Logistics Finance (U.S.) Inc., its wholly-owned finance subsidiary, have commenced a cash tender offer for any and all of their outstanding 9 1/4% senior notes due 2019 and a consent solicitation to eliminate or modify most of


JFMS Buys First Supacat Multi-Purpose Vessel 24

    James Fisher Marine Services (JFMS) and Supacat today announce the purchase of a Multi-purpose Vessel 24 (SMV 24). The investment in the SMV24 vessel marks JFMS’s continued commitment to provide innovative solutions to clients that require high assurance when operating in the


Box Ships announces Prices Public Offering

 Box Ships Inc.,ATHENS,  today announced that it has priced its public offering of 5,000,000 units consisting of its common shares and warrants at $2.05 per unit.  Each unit consists of one common share and a warrant to purchase 0.40 common shares.


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


Petrobras HQ Raided by Brazil Police

Petrobras headquarters (Photograph: Bloomberg/ Getty)

Brazil's Federal Police raided the headquarters of state-run oil company Petroleo Brasileiro SA in Rio de Janeiro as part of a money-laundering probe, two sources with direct knowledge of the operation told Reuters on Friday. The police said they were exercising 23 search and arrest warrants in


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


 
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