ENSCO Completes Financing Facility

Friday, January 14, 2000
ENSCO International Incorporated announced the closing of a new $195 million loan facility guaranteed by MARAD. The facility will be used to finance the ENSCO 7500 semisubmersible drilling rig currently being constructed for ENSCO by Friede Goldman Offshore. The rig is scheduled to commence drilling operations for Burlington Resources during the fourth quarter of 2000. The MARAD guarantee covers both interim financing during the construction period as well as 15 year bonds to be issued upon completion of construction. ENSCO expects to begin drawing under the interim financing during the first quarter of 2000. The company also has reached a final settlement with Petroleos de Venezuela ("PDVSA") of various issues related to the October 1998 sale of four barge rigs to PDVSA by ENSCO's 85 percent-owned Venezuelan subsidiary. As a result of this settlement, ENSCO will realize a gain of $6.8 million, or approximately $5.2 million net after taxes and minority interest, in the fourth quarter of 1999.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Silversea Cruises Plans New Flagship

Cruise operator Silversea Cruises has unveiled its new flagship, the Silver Muse, which will begin sailing the seas in April 2017.    Built by Italian shipbuilding company Fincantieri,

Silversea Cruises Orders Luxury Ship from Fincantieri

Shipbuilder Fincantieri has received an order to build a new luxury cruise ship for client Silversea Cruises due for delivery in April 2017.    At 40,700 grt and accommodating 596 guests,

Confidence Low in Shipping Idustry

Confidence levels in the global shipping market have fallen to a seven-year low as a glut of cargo ships, weak freight rates and excess liquidity continue to batter the industry,

 
 
Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1064 sec (9 req/sec)