Euronav Announces Capital Increase for Maersk VLCCs

MarineLink.com
Monday, February 24, 2014
Photo: Maersk

Euronav today announced that the meeting of shareholders has approved a $300 million capital increase against issuance of 32,841,528 new shares to acquire 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million, as announced January 5, 2014.

Euronav said that all other points on the agenda of the shareholders’ meeting were also approved.

Following the $50 million capital increase that took place on January 13, 2014 as well as the issue of a $235 million seven-year bond and the signing of a commitment letter for a $500 million senior secured credit facility earlier this month, this approval is the last step required for the full financing of the acquisition of the Maersk Tankers fleet.

The company further reports that on February 20, 2014 it has successfully taken delivery of the first vessel from Maersk: the Nautilus.

euronav.com

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ClassNK Holds LNG Fuel Technologies Seminars

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt

USCG Change of Command in Galveston

A Coast Guard lieutenant commander and graduate of Hastings High School in Houston, took command of Maritime Safety and Security Team Galveston during a ceremony in Galveston Thursday.

Miller Rejoins TITAN as Salvage Master

Captain Stuart Miller has rejoined Crowley Maritime Corporation’s TITAN Salvage operations team as salvage master, bringing with him over 30 years of worldwide,

Shipbuilding

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The

HydroComp to Hold Propeller 'Mini-Workshop'

A special version of HydroComp's intensive Propeller Workshops will be brought to Tampa before the start of IBEX 2014.   The Mini-Workshop is a special version

Danos Adds Environmental Services

Danos recently added an Environmental Services Division to the company’s collection of oilfield related services, which includes production workforce, construction,

Tanker Trends

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

Finance

Canal Project Slows Panama Economy Growth

Panama's economy expanded in May at its slowest pace since 2009 as major public works projects, including an expansion of the Panama Canal, slowed or wrapped up,

Gas Prices Help Offset Statoil's Output Drop

Statoil's second quarter 2014 net operating income was NOK 32 billion, a decrease of NOK 2.3 billion compared to the second quarter of 2013. Adjusted earnings were NOK 32.

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

News

Police Kill 2 Kenyans Suspected of Planning Ferry Attack

Kenyan police said on Friday they shot and killed two armed men suspected of planning an attack on a ferry in the port city of Mombasa after one of them tried to hurl a grenade at approaching police.

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Canal Project Slows Panama Economy Growth

Panama's economy expanded in May at its slowest pace since 2009 as major public works projects, including an expansion of the Panama Canal, slowed or wrapped up,

Vessels

MOL Commended with Quality Ship Awards

MOL Commended for ‘FY2013 Best Quality Ship Award’; MOL president Koichi Muto meets with captain and chief engineer, exchanging views and working to establish a more solid safe operation system.

Farstad Offshore Vessel Squadron Chartered Out

Farstad Shipping ASA reports the following charter contracts, with a total value (including options) of approximately NOK 1.75-billion, as follows: Inpex has awarded

Better Operational News from Fugro

Fugro says that (an as yet unidentified vessel) recently affected by a fire is back in operation. The total time out of operation amounted to seven weeks. Secondly,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1854 sec (5 req/sec)