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

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Ship Sales

COSCO Delivers PSV and Two Jack-up Rigs

Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

SCI to Buy Vessels for $134m

India's largest shipping company  Shipping Corporation of India (SCI) has earmarked Rs 900 crore ($134m ) capex for the current financial year even as business

 
 
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