According to reports, Teekay Shipping Corp., said one of its subsidiaries bought a 40 percent stake in Norwegian oil services provider Petrojarl ASA. Financial terms were not disclosed. Under Norwegian law Bahamas-based Teekay must bid for the remainder of the company in the next four weeks Petrojarl owns and operates four Floating Production Storage and Offloading units in the North Sea. These are ships that process and store oil or gas from nearby drilling platforms until the product can be offloaded into a tanker. The company also owns and operates two shuttle tankers and a storage tanker in the region. Earlier this year, Teekay formed a joint venture with Petrojarl to pursue storage and offloading projects. Shares of Teekay Shipping fell 29 cents to $43.97 in morning trading on the New York Stock Exchange.
Diana Shipping Inc., bought a big ship currently under construction in China for $110 million. Athens, Greece-based Diana Shipping expects to take delivery of the Capesize-class vessel from Shanghai Waigaoqiao Shipbuilding Co. in November. Capesize-class ships are vessels too large to traverse either the Suez Canal or Panama Canal. Diana Shipping said it is seeking long-term employment for the tanker. The acquisition will decrease the average age of the company's fleet to 3 years and
Frontline has through market purchases executed July 2, 2001 bought back 125,000 of the company's common shares, at a price of NOK 164.09. Total number of outstanding shares after this is 76,787,566. The shares acquired are done so in accordance with a Board authorization to buy back shares.
Shipping giant Evergreen Marine signed a letter of intent to buy five large cargo ships from Japan's Mitsubishi Heavy Industry. A spokeswoman for the Taiwan shipping firm said it was negotiating to buy 6,300-6,400 TEU ships from the Japanese firm. She said Evergreen would aim to take delivery of the ships by 2002 but further details, such as the price of the vessels, had not been settled.
Great Eastern Shipping Company signs contract to buy a 1990-built Very Large Gas Carrier (VLGC) The Great Eastern Shipping Company Limited (G E Shipping) has signed contract to buy a Very Large Gas Carrier (VLGC) of about 49,700 dwt (75,000 cbm). The 1990-built vessel is expected to join the Company’s fleet during Q2FY2013. The Company’s current fleet stands at 32 vessels, comprising 22 tankers (9 crude carriers, 13 product carriers) and 10 dry bulk carriers (1 Capesize
North Sea supply specialist Fletcher Shipping buys 'FS Taurus' its third vessel in five years. Currently operating in the Forties section of the North Sea, Taurus will take the total number of employees at Fletcher to 90. Set up in 2007 with backing from the Royal Bank of Scotland, the company transports food, equipment and other supplies to offshore oil and gas operators, reports 'The Scotsman'. The purchase of the Taurus – a 2
Bergesen d.y. Group ASA exercised an option to buy two more VLCCs from Japan's Hitachi Zosen Corp. The total option price for the 296,000 dwt vessels is about $131.7 million. The two vessels will be delivered in March and May, 2001. Bergesen also announced that it has bought oil/ore carrier Grand Phoenix for $23 million. The 291,000-dwt carrier, built in Japan in 1986, will be delivered by the end of March.
Hong Kong-listed China Shipping Development Co. agreed to buy eight oil tankers for $556m from two Chinese shipbuilders. According to Yahoo! News, China Shipping Development, a unit of state-owned China Shipping (Group) Co., said it would buy four oil tankers for $408m from Dalian Shipbuilding Industry Ltd. It said the four vessels would enter operations between June and December 2009. China Shipping Development also said it would buy four oil tankers for $148m from Guangzhou Shipyard
According to a July 20 report from UPI.com, the Congressional Budget Office said joining U.S. Navy and Coast Guard programs regarding procurement of small surface ships wouldn't necessarily improve cost efficiencies over current buying processes. With the Navy and Coast Guard looking to buy a total of 83 smaller vessels, CBO was asked by Senate Banking Committee member Judd Gregg, R-N.H., to examine alternatives that would perhaps allow the services to consolidate small combatant programs.
The Bristol Ferry Boat Company went into administration last November, and needed to raise £250,000 from investors by 31 July, but it surpassed that target, topping £300,000. According to BBC News, citing ferry boss Ian Bunguard, more than 600 people had bought the shares - starting at £100 - with many being bought by people living in the city, and the ferry was now in a very strong position.
The Russian state-owned shipbuilding firm USC has confirmed it will take full ownership of the financially challenged Arctech Helsinki shipyard from its current owner, the Korean company STX, according ot the Finnish newspaper Yle. United Shipbuilding Corporation (USC) already holds a 50 percent
In the key Asian growth markets of Korea and China, the competition is on for incremental winter LNG cargos, with the former showing growth related to fuel substitution (lower nuclear capacity) and seasonal use, while the latter will come from new import infrastructure opening up new markets
Prices 8.13 Mln Public Share Sale at Discounted $8/Share Nordic American Tanker (NAT) opened this morning on the stock exchange down more than 10% (Down $0.85 to $8.025/share in late morning trading) after saying it has priced a 8.13 million public offering at $8 per share
Aecon Group Inc. announced that it has completed its previously announced public offering of $150 million aggregate principal amount of 5.5% convertible unsecured subordinated debentures due December 31, 2018. The offering of debentures was completed on a bought deal basis through a syndicate
A LEEDCo official has informed 'The News-Herald' that more than 3,000 people in Northeast Ohio so far have signed up to pledge to buy a portion of their future electricity needs from offshore wind power. LEEDCo has begun work on a five to nine turbine wind energy demonstration project in Lake
United Arab Shipping Company (UASC) has placed orders worth over $2 billion for very large container ships with South Korea's Hyundai Heavy Industries., reports Trade Arabia. UASC has ordered five vessels of 18,000 twenty-foot equivalent units (TEU) each, and five 14,000 TEU vessels
Bunker fuel sales at China's Shenzhen port have dropped by around 20% since the beginning of this year as more ships are calling at the Russian Far Eastern ports to buy bunker fuel with prices there $100-150/mt lower than in Shenzhen, according to trade and industry sources cited by Platts.
Clarksons recently visited the Docklands Waterports and Sailing Centre (DWSC) near Canary Wharf on the UK's River Thames to officially launch the two new rescue boats it has bought for the organisation. The state of the art Rigiflex boats - named after two esteemed late Clarksons'
An active shooter was reported inside the Naval Sea Systems Command Headquarters building (Bldg. 197) on the Washington Navy Yard at 8:20 a.m. (Eastern Time). There is one confirmed injury. Emergency personnel are on scene and a "shelter in place" order has been issued for Navy Yard
WASHINGTON -- Several people were injured and there are reports of fatalities in a shooting at the Washington Navy Yard Sept. 16. An active shooter was reported inside the Naval Sea Systems Command Headquarters building (Bldg. 197) on the Washington Navy Yard at 8:20 a.m. (Eastern Time).
According to various wire and news reports, at least 12 people were killed in a shooting on Monday at the U.S. Navy Yard in Washington, where a suspected gunman was reportedly among the dead and authorities were searching for two other possible assailants wearing military-style clothing
Today marked the conclusion of the Canadian Ferry Operators Association (CFOA) annual AGM and Conference in St. John’s, NL. The theme of CFOA 2013 was Innovative Approaches to Customer Relations, and the two-day conference featured presentations on enhancing customer relations
Trading in preowned vessels continues to be a popular choice for many customers. Damen Trading facilitates the sale and purchase of both Damen and third-party vessels. Recent deals highlight how trading in vessels results in a win-win situation for buyer and seller.
International Shipholding Corporation (ISH) has bought the integrated tug/barge unit, 'Coastal 202' and 'Florida Enterprise', from CIT and GE Capital. These two vessels have been operating under a sale and leaseback arrangement and were part of ISH’s purchase of United Ocean Services.
Taking a serious view of the suspicious movement of the American-owned ship, 'MV Seaman Guard Ohio' in Indian waters, the Central Indian Government seeks a report from the Tamil Nadu Government on the vessel which was detained for carrying arms and buying diesel fuel without authorization in India