Marine link
 

Three Years

Petrobras Launches $8.5B Six-part Bond

By Paul Kilby, IFR Petrobras has launched a $8.5 billion six-bond offering after generating a $22 billion plus order book. The trade was launched as a $1.6 billion three-year fixed at Treasuries plus 250bp, $1.4 billion three-year FRN at 3mL+236bp, $1.5 billion six-year fixed at plus 330bp, $500 millio six-year FRN at Libor plus 288bp, $2.5 billion 10-year at Treasuries plus 350bp, and $1 billion 30-year fixed at plus 360bp. This comes after leads revised guidance to T+250-260bp on the three-year fixed-rate tranche, 3mL+236-246bp on the three-year FRN, T+330-340bp on the six-year fixed, 3mL+288-298bp on the 6-year FRN, T+350-360bp on the 10-year fixed, and T+360-370bp on the 30-year fixed-rate tranche. Initial price thoughts were T+260bp, 3mL+246bp, T+340bp, 3mL+298bp, T+360bp and T+370bp, respectively. Ratings are on the SEC registered deal are Baa1/BBB/BBB. Bookrunners are BOCHK, BB Securities, Bradesco BBI, Citigroup, HSBC and JPMorgan. Comanagers are Banca IMI S.p.A and Scotiabank.


Thirty-Four Foss Vessels Win Safety Awards

Leiv Lea, Director of Global Towing & Transportation, accepts the award on behalf of Foss (Photo courtesy Foss)

The Chamber of Shipping of America (CSA) presented the Foss vessels with Jones F. Devlin Awards at the Annual Safety Awards Luncheon held this year in New Orleans, Louisiana.  The awards are given to self-propelled merchant vessels that have operated for two full years or more without a crew member losing a full turn at watch because of an occupational injury. Altogether, the Foss ships achieved the equivalent of 144 years without a lost-time injury.


Chiles Offshore Signs a Three-Year Contract With BP

Chiles Offshore has executed a three-year contract with BP Trinidad and Tobago LLC for the use of the ultra-premium jackup drilling rig the Chiles Coronado, formerly known as Tonala. The Chiles Coronado is currently undergoing limited modifications and upgrades before leaving the Gulf of Mexico for Trinidad. The rig is currently expected to arrive in Trinidad during the month of September. During the contract period, contract revenues are estimated to approximate $80 million


Nigerian Navy Arrests 236 Ships in Three Years

The Nigerian Navy has arrested over 236 ships, tugboats, and barges engaged in crude oil theft, illegal bunkering and other vices on the high seas resulting in about 80 per cent reduction in crude oil theft within the last three years. [source: Allafrica.com]


Naming & Delivery of Stena Polaris

Concordia Maritime took delivery of the product tanker Stena Polaris from Brodosplit Shipyard in Croatia and at the same time a naming ceremony was held. The vessel has been signed to a three-year charter with ST Shipping, part of Glencore, for the transport of refined petroleum products. The Stena Polaris is the eighth unit in the P-MAX series and the first of two P-MAX tankers with the highest ice class, 1A. Her sisters, the Stena Penguin with delivery planned for Q4, 2010


Boskalis Wins Hefty German Dredging Contract

Image credit Boskalis

Royal Boskalis Westminster N.V. (Boskalis) contracted by Wasser- und Schifffahrtsamt Cuxhaven to maintain 110-km of the River Elbe fairway. The contract is for a period of three years and has a value of approximately EUR 75 million and the dredging operations are to commence in May 2013. The dredging activities are related to maintaining the shipping fairway of the River Elbe between the city of Wedel northward in the direction of Cuxhaven


POSCO to Boost Production of Steel Plates

POSCO will increase production of ship steel plates by 30 percent from 3.6 million tons to 4.7 million tons over the next three years. The steelmaker said Wednesday it will invest in improving facilities of three ship steel production lines at its Pohang ironworks. Demand for ship steel is on the rise since the shipbuilding industry will need 6 million tons of steel this year, but steelmakers can only produce 4 million


Hercules Offshore Announces Rig Contracts

Hercules Offshore, Inc. said that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008 following the completion of an existing contract commitment offshore India. The contract for the Hercules 260 is expected to commence in late first quarter 2008 following the completion of shipyard work on the


TEN Announces Three-Year Charters for Tankers Selecao

Tsakos Energy Navigation Limited announced three-year time- charters for Panamax newbuildings "Selecao" and "Socrates" to a major South American state oil company. The charters are expected to generate gross revenues in excess of $57 million for the Company over the corresponding charter period. The vessels are expected to be delivered in February and March of this year. After delivery of the "Selecao" and the "Socrates


Greek Ferries Chartered Out to Ease Cash Flow

A HSW Ferry: Photo credit CCL 2 Georgios Pazios

Several Greek coastal shipping firms have resorted to chartering their ferries on foreign routes in order to secure some liquidity and continue operating. Companies believe that their smooth operation is being threatened by the negative course of the domestic maritime transport market as losses over the last three years have reached up to 1 billion euros, reports Greece insiders 'Kathimerini'. Sources say that at least three ferry companies have chartered their vessels on routes outside


DP World to acquire EZW Logisitics

EZW purchase funded from existing cash and loan facilities; DP World will also take about $859 million of EZW's debt. DP World said on Thursday it would pay $2.6 billion to major shareholder Dubai World for its EZW logistics infrastructure firm


Paragon Acquires Majority Stake in Prospector

PROSPECTOR 1 on location in the U.K. Sector of the North Sea (Photo courtesy of Prospector Offshore Drilling)

Paragon Offshore plc reported that it has acquired 52,749,014 shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 Norwegian kroner (NOK) per share, or $2


Long-term Study May Reveal Deepwater Horizon Impacts

Dr. Wes Tunnell

The Harte Research Institute (HRI) for Gulf of Mexico Studies at Texas A&M University-Corpus Christi will receive approximately $1.25 million over the next three years to work with Mexican colleagues in the southern Gulf of Mexico to look for residual impacts from the Ixtoc I oil spill of


Sea Star Line: Equipment Replacement Plan on Track

Photo: Sea Star Line

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’ refrigerated containers ordered as part of its equipment replacement plan announced in August 2014


Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to extend a lease on two ultra-deepwater drilling ships. Petrobras, as the Brazilian oil company is known, will get the ships


Yemen Restarts Main Oil Export Pipeline

Marib pipeline

  Yemen resumed exports from its main oil pipeline on Saturday, one day after an attack by tribesmen temporarily halted flows, industry sources said. Yemen's oil and gas pipelines have been repeatedly sabotaged, often by tribesmen who have feuds with the central government


Israeli Port Work Starts, Haifa Longshoremen strike

A Chinese construction firm began work on a new Mediterranean port in Israel on Tuesday, prompting a strike at Haifa docks further up the coast where the workers oppose the new competition. Israel's government, looking to break up the monopoly of two state-owned ports in Haifa and Ashdod


CEVA and L’Oréal Extend Relationship in Indonesia

.

  CEVA Logistics, a leading global supply chain management company, announced a contract renewal and expanded business with L'Oréal in Indonesia, the world's leading beauty brand. CEVA's partnership with L'Oréal started more than 3 years ago when the company took on the


Brazil Setting-up Solar Parks

Solar Energy

  Brazil finally entered the solar power sector on Friday, granting contracts for the construction of 31 solar parks as it tries to diversify its sources of generation amid an energy crisis caused by the worst drought in eight decades.


Libyan Rebel Refuses to Hand Over Oil Ports

Libyan militia leader Ibrahim al-Jathran

A former Libyan rebel leader, who seized oil ports in the past to campaign for eastern autonomy, said he had turned down an offer to join an armed group challenging the internationally-recognized government. The loyalty of Ibrahim Jathran to the government is key to ensure that three oil ports


HMS Global Maritime 5th fastest Growing Firm

American Queen

  Each year, Louisville Business First, a weekly business publication in Louisville, KY, releases a list of the fifty fastest growing privately-held companies in the area. The list represents a wide variety of companies who are ranked by growth percentage over the past three years


Remains in Costa Concordia May be Final Victim

Costa Concordia refloated.

A corpse found in the wreck of the Costa Concordia is thought to be that of the last person unaccounted for almost three years after the luxury liner sank, Italy's coast guard said on Monday. Russel Rebello, an Indian who worked as a waiter on the ship when it hit rocks and sank off the Tuscan


Moroccan Frigate Docked for Maintenance

Tarik Ben Ziyad in drydock, ready for repairs (Photo: Damen)

Dutch-built, multi-mission naval vessel at Damen Shiprepair Brest for first scheduled docking The Royal Moroccan Navy’s frigate Tarik BenZiyad has returned to the Damen Shipyards Group for its first routine drydocking after three years of operation


Seacat Debuts First Tank-tested Catamaran

Photo courtesy of Seacat Services

Following the completion of preliminary sea trials, offshore energy support vessel operator Seacat Services unveiled the British-built Seacat Intrepid, the first DNV GL certified 26-meter crew transfer vessel to benefit from a unique three-year offshore wind farm workboat tank testing research and


Speedcast Secures Deal with AMPTC

speedcast logo.jpg

SpeedCast International Limited announced that it has been awarded a multiyear contract from Arab Maritime Petroleum Transport Company (AMPTC), a provider of maritime transport services of hydrocarbon substances in the Middle East region.  SpeedCast will provide satellite network connectivity






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright