Authority For The Financial News

HAL Holding, which on March 10 announced plans to launch a takeover offer for the Dutch marine services and dredging giant Boskalis' all remaining shares, said Thursday it was making good progress with the offer preparation.The company had said in March it planned to launch an all-cash voluntary public offer of €32.50 per share for all issued and outstandingordinary shares of Boskalis. HAL had 46.2% shares at the time of the announcement."HAL confirms that it is making good progress on the preparation of the Offer.

During its annual meeting held March 25, the Duluth Seaway Port Authority Board of Commissioners elected officers for the fiscal year beginning April 1, 2020.The board re-elected Rick Revoir to serve his second year as president. Other appointments included Tony Sertich as vice president, Patrick Boyle as secretary, Norm Voorhees as treasurer and Mike Jugovich as assistant treasurer. Together with fellow board members Ray Klosowski and Yvonne Prettner Solon, this septet oversees the Port Authority’s financial and organizational affairs.The Duluth Seaway Port Authority is governed by a seven-member board – two commissioners appointed by the state’s governor, two by the St. Louis County board, and three by the Duluth City Council.

Oosterhout Container Terminal (OCT) has now joined the West-Brabant corridor, the partnership launched in February 2018 between deep-sea terminals, inland shipping companies and inland terminals to bundle container cargo on the sailing route between Tilburg, Moerdijk and the Port of Rotterdam. The addition of OCT has resulted in an approximate thirty-percent increase in container volume on this sailing route. In practice, the partnership means that vessels consolidate cargo at different terminals in Moerdijk, Tilburg and Oosterhout for one deep-sea container terminal in Rotterdam or vice versa. Partnership on the main corridors and the bundling of cargo in the hinterland is important in achieving improved vessel capacity usage and reducing waiting times at the terminals.

But now that the LNG Master Plan has come to an end the LNG story is not finished. Far from it: this was just the start, paving the way for promising new projects. Specifically, the port of Antwerp is getting ready to build an LNG bunker station for barges, with the concession agreement due to be signed at the beginning of 2016. The Rhine-Main-Danube LNG Master Plan was formally brought to a close on 16 December 2015 in Rotterdam. Together with 32 other partners from all over Europe the port of Antwerp had contributed towards the objective of making LNG a reality for barge transport, as a clean fuel. This objective fell into two parts: on the one hand to encourage barge operators to use LNG as their fuel…

Today SC Ports Authority reported 2015 fiscal year-end operating earnings of $30.4 million and revenues of $196.8 million, significant increases over the previous year's financial performance. From July through June, SCPA more than doubled its previous fiscal year's operating earnings of $14.3 million, while operating revenues increased 20 percent over FY2014 revenues of $32.6 million. Total operating expenses for the 2015 fiscal year totaled $166.3 million. "The strong financial…

Boskalis states it has financing in place to make an all cash voluntary public offer for all ordinary shares of Dockwise. With reference to the press release of 21 December 2012 in which Boskalis announced its decision to make an all cash voluntary public offer for all the issued and outstanding ordinary shares of Dockwise at a price of EUR 18.50 per share cum dividend (the Offer), Boskalis hereby confirms that it has the necessary funds available to finance the Offer. The Offer values Dockwise at EUR 733 million with an enterprise value of approximately EUR 1.25 billion. Boskalis will finance the Offer and refinance existing facilities through a mix of existing cash resources, new senior debt facilities and an equity issuance.

The board of directors of Antwerp Port Authority has approved the long-term financial plan (2011-2025), representing an amount of $2.2b. With this ambitious investment plan the Port Authority is banking on the future. This plan is only possible thanks to the sustainable financial policy that the Port Authority has followed in recent years. "It is these financial results, without trying to maximize profits, that even after a period of crisis give us a sufficient financial basis to implement this investment program that is so important to our customers, and to go ahead with the priority activities and investments," said Port Authority CEO Eddy Bruyninckx.

Royal Boskalis Westminster N.V. (Boskalis) and Smit Internationale N.V. (Smit) announced that they have signed a merger protocol for a full merger of the two companies. The transaction will be effectuated through an all cash public offer of $84.5 ex dividend (instead of cum dividend as previously anticipated) by Boskalis for all outstanding shares in Smit. The business combination will create a world class maritime service provider offering a strong platform for further growth. The strategic rationale of the transaction was already supported by the Board of Management and Supervisory Board of both Boskalis and Smit. As previously indicated two large shareholders of Smit…

The Port Authority launched a unique barge and rail cargo distribution network that will provide jobs and economic activity for the region, speed the flow of goods to consumer markets in the region and help reduce highway truck traffic. The Port of Albany will become the first Northeast port to participate in the program. The Port Inland Distribution Network will move containerized cargo by barge or rail between marine terminal facilities in the New York-New Jersey area and regional terminals in New York, New Jersey and three other Northeast states. Local trucking will then be used to bring the cargo from the regional port facility to its ultimate customer location. New York Governor George E.