Friday, July 16, 1999 Maritime News

ARCO Chief Receives $27.6M BP Pay-Off

Jul 16, 1999

Mike Bowlin, chief executive of the U.S. oil major Atlantic Richfield Co. will reportedly receive a $27.6 million severance payoff when his company is acquired by BP Amoco Plc.

P&O European Ferries Orders £33M Ferry

Jul 16, 1999

P&O European Ferries reportedly signed a £33 million contract with Japanese shipbuilder Mitsubishi Heavy Industries to build a new ferry for the Irish Sea.

Kvaerner Faces $125M U.S. Lawsuit

Jul 16, 1999

Kvaerner is reportedly facing a damages claim for $125 million following its repossession of a cruise ship four years ago.

Smit Internationale Buys South Africa’s Pentow

Jul 16, 1999

Smit Internationale NV reportedly agreed to buy South Africa's Pentow Marine (Pty) Ltd.

Montanari Extends Bid For Skaugen

Jul 16, 1999

Navigazione Montanari will reportedly extend the offer period on its bid to take over Norwegian shipping firm I.M. Skaugen by two weeks.

Osprey Obtains Loan Extension

Jul 16, 1999

Osprey Maritime Ltd. reportedly reached an agreement with its bankers for an extension of a portion of its loans, currently totaling $370 million.

 

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