Stolt-Nielsen S.A. Resolves Dispute with Noteholders

Wednesday, June 16, 2004
Stolt-Nielsen S.A announced that the company had resolved its dispute with its senior noteholders regarding defaults asserted by the noteholders. "We are pleased that the noteholders have agreed to waive their claims of default and to modify some loan covenants to permit the Company to make certain investments in joint ventures," said Niels G. Stolt-Nielsen, Chief Executive Officer of SNSA. "In return, the Company has agreed to provide the noteholders with certain security, which can be released if the Company obtains an investment grade rating on its senior notes and under certain other circumstances. SNSA can now focus on its businesses and capitalize on the improving parcel tanker market worldwide."

The Company expects to file its Annual Report on Form 20-F on June 16, 2004.

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

People & Company News

Prosafe Q2 Earnings Below Expectations

Offshore accommodation rig provider Prosafe reported second-quarter earnings below expectations on Thursday and said that its short-term market outlook is weaker

'Double Jeopardy – Trial by Media, Trial by Law' London Opening

BIMCO notes that the highly acclaimed "Double Jeopardy - trial by media, trial by law" first showcased at the BIMCO AGM in Dubai earlier this year is to be brought

Week's Ocean-Going Shipbuilding Orders Sparse

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin,

Finance

Maersk Drilling Q2 2014 Profit Dips

Maersk Drilling informs that in Q2 2014 it delivered a profit (NOPAT) of USD 117-m (USD 150-m). While the underlying operational performance remained strong with an operational uptime of 97% (96%),

Prosafe Q2 Earnings Below Expectations

Offshore accommodation rig provider Prosafe reported second-quarter earnings below expectations on Thursday and said that its short-term market outlook is weaker

LNG Carriers GasLog Financial Results Q2 2014

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30,

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1363 sec (7 req/sec)