Latvian Shipping Given OK To Sell Refrigeration Fleet

Friday, December 01, 2000
The Latvian privatization agency cleared Latvian Shipping to sell part of its loss-making refrigerator fleet to concentrate on its core tanker business, Reuters reported. The agency gave the go ahead to sell seven Kursk-type refrigerator vessels that are unable to handle containers and had said that the funds raised must be reinvested. Shipping, currently in the final stages of privatization, has said the total balance sheet value of the ships is $40 million. Shipping's strategy -- if and when an investor arrives -- is to strip all non-core business away by selling most of the refrigerators, as well as dry-cargo and gas vessels. The firm operates a fleet of 49 ships -- 34 tankers, 12 reefers, two gas vessels and one dry-cargo vessel -- and has been on Latvia's privatization list since 1995 but several tenders have failed. Latvia's cabinet is expected to approve guidelines for a fourth Shipping sale on December 12. It is expected to be the first to offer a majority stake to a strategic investor.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Finance

Deep Sea Supply takes Delivery of 'Sea Triumph'

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Colombia's Ecopetrol Sees Recovery in 2015

Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1407 sec (7 req/sec)