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Enters Into Agreement News

17 Sep 2014

EMS Seven Seas Announces New CEO

Lars Rosenkrands

EMS Seven Seas announces new CEO; enters into agreement to acquire Wave Shipping, a Singapore-based maritime and port agency services company. EMS Seven Seas, an international ship chandler and leader in the provision of goods to the marine, offshore and defense sectors, has announced that it has appointed Lars Rosenkrands as the new Chief Executive Officer (CEO) with immediate effect. Lars has 30 years’ experience in the shipping industry, having worked for a variety of ship supply and ship services companies across Europe…

21 Mar 2014

Eagle Bulk Enters Forbearance Agreement

Eagle Bulk Shipping Inc. announced that it has entered into a waiver and forbearance agreement with certain lenders under the company's fourth amended and restated credit facility, effective March 19, 2014. Subject to the company's compliance with certain terms, conditions and milestones as set forth in the waiver, the lenders have agreed to waive until June 30, 2014, any potential events of default related to, among other things, noncompliance by the company with the leverage ratio or minimum interest coverage ratio covenants set forth in the credit agreement.

17 Dec 2013

Statoil Makes Final Investment Decision on Shah Deniz Stage 2

Statoil  ASA has together with partners in the Shah Deniz consortium in Azerbaijan  made a final investment decision for the Stage 2 development of the Shah Deniz gas field, in the Caspian Sea, offshore Azerbaijan. Statoil also enters an agreement to divest a 10% share of its 25.5% holdings in Shah Deniz and the South Caucasus Pipeline. The BP operated Shah Deniz consortium  announces the final investment decision for the Stage 2 development of the Shah Deniz gas field, in the Caspian Sea, offshore Azerbaijan. This decision triggers plans to expand the South Caucasus Pipeline (SCPX) through Azerbaijan and Georgia, to construct the Trans Anatolian Gas Pipeline (TANAP) across Turkey and to construct the Trans Adriatic Pipeline (TAP) across Greece, Albania and into Italy.

30 Apr 2013

Aker Enters TRS Agreement

Aker ASA entered a TRS (Total Return Swap) agreement with exposure to 1,500,000 shares in Aker Solutions ASA.  The expiration date of the TRS agreement is November 1, 2013 and the settlement price in the agreement is NOK 83.717325 share. Aker owns 70% of the shares in Aker Kvaerner Holding AS, which in turn owns 110,333,615 shares, representing 40.3% of the outstanding shares in Aker Solutions. The Norwegian government, through the Ministry of Trade and Industry, owns the remaining 30% of the Aker Kvaerner Holding shares.

21 Jun 2012

Offshore Suriname to be Explored by Chevron

Chevron Corporation announce that its wholly owned subsidiary Chevron Global Energy Inc. (Chevron) will be assigned a 50 percent working interest in Blocks 42 and 45 offshore Suriname through an agreement with Kosmos Energy. Under the agreement, Kosmos will have a 50 percent working interest and remain operator of both blocks until the end of the exploration phase. Chevron will assume the remaining 50 percent working interest and will be the operator following any commercial discoveries. “This agreement enables us to explore for new resources in this frontier basin,” said George Kirkland, vice chairman, Chevron Corporation. Blocks 42 and 45 are located approximately 155 miles (250 kilometers) from Paramaribo and cover a combined area of approximately 2.8 million gross acres…

13 Jun 2012

Box Ships to Acquire Two OOCL Vessels

Box Ships Inc. Enters Into Agreement To Acquire Two Vessels From OOCL And Related Financing Transaction; public offering of preferred shares and warrants commenced. Box Ships Inc. (NYSE: TEU) (the "Company"), a global shipping company specializing in the seaborne transportation of containers, announced that it has entered into agreements with subsidiaries of Orient Overseas Container Line Ltd. (OOCL) to acquire two 5,344 TEU post-Panamax container vessels, the 1995-build OOCL Hong Kong and the 1996-build OOCL China. The purchase price per vessel is US$31.155 million, inclusive of fees and the expected dates of delivery for both vessels to the Company are to take place no later than July 14, 2012.

16 Nov 2011

Star Bulk Enters Charter Agreement

Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, said it entered into a time charter contract with Pacific Basin Chartering Limited BVI for the Star Kappa for approximately one year, at a gross daily rate of $12,500. The Star Kappa is a Supramax vessel of 52,055 dwt built in 2001. The new contract is expected to contribute a minimum of $4.2 million to a maximum of $5.1 million in gross revenue. The vessel is expected to be delivered to Pacific Basin once it finishes its scheduled drydock.

19 Sep 2007

Excel Maritime Enters Charter Agreement for M/V Elinakos

Excel Maritime Carriers Ltd. has chartered M/V Elinakos for a period of minimum 23 up to maximum 25 months at US $58,000 per day to a first class charterer. M/V Elinakos is a Panamax dry bulk carrier of 73,751 dwt, built in 1997 in Japan, which the company acquired and took delivery of in May 2005.

16 Aug 2007

Excel Enters Charter Agreement for the M/V First Endeavour

Excel Maritime Carriers Ltd. an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has chartered M/V First Endeavour for a period of 23 to 25 months at $45,000 per day to a first class charterer. The vessel will be delivered into charter on or about August 25, 2007. M/V First Endeavour is a Panamax dry bulk carrier of 69,111 dwt, built in 1994 in Japan, which the company acquired and took delivery of in May 2005.

04 Oct 2006

Excel Enters Charter Agreement

Excel Maritime Carriers Ltd has chartered M/V Angela Star for a period of about 24 to 26 months at $26,500 per day to a reputable European charterer. The vessel will be delivered into charter by early November 2006. M/V Angela Star is a Panamax dry bulk carrier of 73,798 dwt, built in 1998 in Japan, which the company acquired and took delivery of in March 2005.

13 Dec 2005

Arlington Tankers Enters Loan Agreement

Ltd. million loan agreement with The Royal Bank of Scotland plc. agreement provides for a five-year term loan facility. N.V. tankers from the Stena Group. in January 2006. drawdown. an interest rate swap agreement with the Royal Bank of Scotland. at approximately 5.38%.

25 Feb 2003

Canyon Offshore Enters Trenching Agreement

Canyon Offshore has signed a three-year Frame Agreement with Coflexip Stena Offshore Norge AS (CSONOR) to provide trenching services supporting CSONOR’s installation activities in Norway. The agreement is also open to all Technip-Coflexip entities worldwide. The primary equipment engaged under this agreement will be Canyon’s new Triton 750 Trencher, currently being manufactured by Perry Slingsby Systems Ltd. at their Kirbymoorside facility in the United Kingdom. The system delivers 750 horsepower, weighs in at 23 metric tons, is capable of producing 3-meter trench depths and operates in soil strengths up to 125 kPa. The system will be delivered to Canyon in May 2003 and will undertake extensive sea trials in June.

06 Dec 1999

Totem Enters Into Agreement With NASSCO

Totem Ocean Trailer Express (TOTE) of Anchorage, Alaska, has come to an agreement with National Steel and Shipbuilding Company (NASSCO) for the construction of two RoRo vessels for its Alaska service. Measuring 839 ft. (255.7 m), the vessels are scheduled for delivery during late 2002. According to Robert P. "These ships, which carry more than 50 percent more cargo than our present ships, are designed specifically to endure the harsh conditions of the Alaska trade," Magee added. The new vessels will be the same size as TOTE's existing three ships, "while remaining extra capacity to fulfill any surge cargo needs and allow for seamless service during dry docks," Magee furthered.