California Firm to Buy Gambling Vessel

Friday, January 13, 2006
Yamashiro Financial Services won federal bankruptcy court approval Wednesday to buy the gambling vessel Ocean Jewel from Titan Cruise Lines for $7.25 million. The Pasadena, Calif.-based company will refurbish the ship and re-launch it this year, although its final destination is still to be determined. First American Bank of Illinois, one of Titan's creditors, had rejected a previous $5 million offer by Yamashiro on Monday, saying it was too low. Titan filed for bankruptcy in August. Source: TB Business Journal

Contracts

Elcome Supplies Electronics for Abu Dhabi New Builds

Elcome International is supplying electrical switchboards, safety, monitoring and control systems for three vessels under construction at Abu Dhabi Ship Building (ADSB).

Ingalls Secures Design Work for US Navy’s New LX(R) Ships

Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been awarded a $13.7 million contract (with incremental funding) to perform contract design effort for the U.

Hanjin files for Receivership, Ports Turn Away Vessels

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court

 
 
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