Olympia Countess Sold at Auction

Thursday, February 05, 2004
Royal Olympia Cruise Lines Inc. announced that its ship Olympia Countess, which had been arrested by creditors in Durban, South Africa, in December 2003, has been sold at auction under the auspices of South African courts. It is not expected that the company will receive any proceeds for its own use from this auction. Auction proceeds will be used to pay certain creditor debts. The company has also been notified by NASDAQ that it is in non-compliance with two of the Exchanges' Marketplace Rules. The company has 90 days to bring the company's minimum market value of publicly held shares to $5 million for a minimum of 10 consecutive days and 180 days to bring its share price to the $1.00 level for ten consecutive days in order to bring itself back into compliance.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Navigation

NZ Report: Human Error to Blame for Rena Grounding

New Zealand's Transport Accident Investigation Commission (TAIC) published its final report into the grounding of containership Rena in October 2011. The TAIC’s

The Economic Impact of Inland Waterway Investment

A recently released study entitled INLAND NAVIGATION IN THE UNITED STATES evaluates the economic impacts and the potential effects of infrastructure investment on our economy.

Transas Installs ECDIS Simulators at Romanian University

Romanian university Constanța Maritime University will provide ECDIS training in accordance with the STCW 2010 requirements    Transas Marine has installed the

 
 
Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1494 sec (7 req/sec)