Korean Shipbuilder Will Build and Invest in U.S. Company

Wednesday, January 09, 2008
Korean ship builder NOK-BONG Ship Building Co., Ltd. (NBS) has purchased 20,000,000 unissued shares of common stock in St. Lawrence Energy Corp., a Delaware corporation, at a price per share of $1.50, for $30m. Concurrently St. Lawrence Energy is making an investment in purchasing 400,000 shares of NOK-BONG common stock for $30m. As a result, St. Lawrence now owns approximately 33% of NOK-BONG. With the transaction, St. Lawrence Energy enters the energy sector, including renewable energy and transportation. St. Lawrence Energy's initial business will involve the ownership of six new ships designed and constructed by NOK-BONG to transport ethanol and other fuels between U.S. ports and worldwide markets in an effective, cost-efficient way. Because of the investment in NOK-BONG, St. Lawrence Energy will be able to obtain the ships from NOK-BONG sooner than otherwise possible, a significant advantage, given the multi-year backlog now existing in shipyards around the world.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Gulf of Mexico Sees First LNG-powered OSV

A special Offshore Supply Vessel (OSV) has been delivered to Shell for its deepwater operations in the Gulf of Mexico.   The vessel, Harvey Energy, is chartered

BIMCO Environmental Performance Guide

BIMCO today launched a new, multi-part guidance resource to support ship owners and operators in improving their environmental performance and the efficiency of their ships.

Caterpillar to Deliver Highest Horsepower Tier 4 Solution

Edison Chouest Offshore has selected Caterpillar Marine's Cat Tier 4 Final C280-16 generator sets for two new vessels, Caterpillar announced today. The generators

 
 
Maritime Contracts Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.1143 sec (9 req/sec)