Quintana Buys 17 Ships for $735m

Friday, May 12, 2006
Quintana Maritime Ltd. said Friday it is buying 17 ships from a private Greek ship owner for about $735 million. Quintana is financing the purchase with loans and $191 million in cash proceeds from a private placement of roughly 2 million shares that closed Thursday. The fleet, purchased from Metrobulk, includes three Panamaxes and 14 Kamsarmax bulkers. The company said the purchase will boost cash flow per share in 2007 when all the ships have been delivered. The ships are on a long-term charter with Bunge SA, a unit of Bunge Ltd., the company said. Shares of Greece-based Quintana rose 10 cents to $8.15 in morning trading on the Nasdaq. Source: AP
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Oceanteam Acquires Oceanwind

Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions.

US Senate Energy Panel Votes to Lift Oil Export Ban

The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil.   The 22-member panel passed the bill

Legislation Introduced to Lift Cuba Embargo

A new piece of legislation, the Cuba Trade Act of 2015, was introduced in Congress Tuesday that aims to lift the Cuba embargo and allow for U.S. businesses in the

Ship Sales

China Shipping Orders Eight 13500 TEU Box Ships

China Shipping Container Lines has placed orders for eight 13,500 twenty-foot-equivalent container ships at Shanghai Jiangnan Changxing Shipbuilding, continuing

Pacific Basin Returns to The Black

Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics 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: 0.1138 sec (9 req/sec)