Oceanic Research & Recovery Funding Agreement

Thursday, April 23, 2009

Oceanic Research and Recovery Inc. (ORRV), a marine salvage and exploration company, announced it has entered into a Private Placement for the amount of $1m.

ORRV has received the first round of funding; under the terms of the agreement the balance of funds will be paid on a regular ongoing basis over a period of six months. This source of funding allows ORRV to meet certain outstanding obligations, continue refining its new organization and begin implementation of its business plan.

RS Operations (RSOPS) and ORRV recently completed a merger between the two companies. The company intends to continue shallow-water activities while preparations are made to begin targeting deep-water shipwrecks.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

MTN Lands Cruise Line SatCom Contracts

MTN Communications (MTN) says that three cruise operators around the world have selected the company for its passenger, crew, corporate communications and content services.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.1279 sec (8 req/sec)