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.
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 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
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]
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
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 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
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
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
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
BHP Billiton Sustainable Communities and Engineers Without Borders Support Students in Sustainable Development September 16, 2014 Five university students were this week given the opportunity to pursue studies in sustainable development with the support of scholarships provided by
Australia’s Woodside has signed on Lloyd’s Register Energy to act as its global inspection provider across a number of assets.Lloyd’s won the contract to provide surveillance inspection, expediting and auditing services for the global operator for three years
Strong prospects in the North American marine equipment market have triggered a new importation and distribution agreement between control specialist Lilaas AS and well-known marine and offshore sales and support organization Imtra Corporation, of New Bedford, MA.
Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said. Deutsche Bank AG was retained to sell the plant, according to another person familiar with the sale
China has released its first "white list" of 51 shipyards that it deems worthy of favourable policy support, as the world's largest shipbuilder strives to tackle over-capacity that has slammed the global shipping market. The government said last year that shipbuilders that complied
Raytheon Anschütz announced the recent contract award for its SMARTBLUE maritime situational awareness system on board two vessels being built in South Korea for a major oil and gas company. The two vessels will operate on the Norwegian Continental Shelf
Lowrance, a world-leading brand in fishing electronics since 1957 — announced today its renewed exclusive standard fit partnership with Fishing Holdings, LLC. The relationship agreement, signed for an additional three years, spans across all Fishing Holdings’ brands including
Capt. Michael Taylor relieved Capt. Robert Crowe as commanding officer, Supervisor of Shipbuilding (SUPSHIP), Bath, during a ceremony at Bath Waterfront Park on Sept. 5. As the 30th commanding officer, Taylor reports to SUPSHIP Bath after serving most recently as the test and
Scheduled for December 1-2, 2014 in New Orleans Dry Dock Conference 2014 is the eighth in a series of international Conferences held every two to three years. This year’s conference will be held December 1-2, 2014 in New Orleans
DNV GL inform that Torsten Schramm, COO Division Germany, Middle East & Asia at DNV GL presented the certificate to Björn Sprotte, Global Head of Maritime Services, Rickmers Shipmanagement, at the at the DNV GL booth during the current SMM 2014.
Lowrance, a world-leading brand in fishing electronics since 1957— announced today its exclusive partnership with Skeeter Performance Fishing Boats. Lowrance HDS Gen2 Touch navigation systems and Elite-3x fishfinders are now the standard electronics systems offered on Skeeter
The Port of Virginia marks an important milestone Monday 14th September as Portsmouth Marine Terminal (PMT), closed for nearly three years, reopens to cargo operations. At 8 a.m. on Monday, the terminal will begin receiving trucks carrying containers for export
Coast Guard Sector Long Island Sound Command Center was notified at approximately 5:20 p.m., via VHF Channel 16, that a 38-foot pleasure craft was tipped over with the motor still running and six mariners in the water just south of the Greenport Ferry North Terminal
The Coast Guard accepted delivery of the fourth National Security Cutter, Hamilton, in Pascagoula, Mississippi, Monday. Hamilton will be the first of two NSCs to be homeported in Charleston, South Carolina. The cutter will be commissioned into service Dec. 6.
Piracy: Not a Thing of the Past Think Somali piracy is a thing of the past? That “past” haunts thousands of seafarers today; but the reports from individual seafarers mostly go unnoticed, as some shipowners leave seafarers high and dry after release—ignored and uncompensated