James Bryant News

Adm. Mark Ferguson, commander, U.S. Naval Forces Europe-Africa, visited U.S. Naval Support Activity (NSA) Souda Bay, his first visit since taking command in July. Ferguson visited Souda Bay to thank Sailors stationed there for supporting forward deployed naval forces and to strengthen the enduring partnership with Hellenic Navy counterparts. “You represent the United States Navy and the United States to the people of Crete and to Greece. I want to thank you for how you conduct yourselves and how you represent our country,” said Ferguson during an all hands call. During the all hands call, Ferguson imparted on Sailors the importance of their mission in Souda.

Three fishermen from Orange Beach, Ala. were rescued early Thursday morning from the frigid waters of the Gulf of Mexico, after their 46 ft. Bertram sportsfishing vessel sunk for unknown reasons. Temperatures were well below freezing, but luckily for the men C-CHARIOT, a 220-ft. offshore supply vessel owned and operated by Edison Chouest Offshore, happened to be located only a mile from their location when disaster struck. According to David Kent, the captain of the fishing vessel Cat Man Dex, a favorable weather report prompted their late night fishing expedition. At approximately 12:59 am, their engine room began to take on water for unknown reasons.

Directors of shipping and transport group Holyman Ltd. unanimously rejected a revised takeover bid from tugboat operator Adsteam Marine Ltd., saying it was still below fair value. "The revised bid continues to undervalue the Holyman business and falls well short of fair price for control," Holyman managing director James Bryant said. The new Adsteam bid, which was upped to 50 cents a share from 45 cents, was still significantly below a valuation prepared by SG Hambros which puts Holyman at between 60 and 89 cents a share, Bryant said.

Ferry and transport group Holyman Ltd. will recommend a revised 65 cents a share cash takeover offer from Adsteam Marine Ltd. in the absence of a higher offer. Earlier, Adsteam Marine lifted its hostile bid for Holyman to 65 cents per share from 52 cents. The new offer tops a rival bid from stevedore company Lang Corp Ltd., which has a 61 cent per share offer on the table. However, managing director James Bryant said shareholders need be in no hurry to accept and should await details of Lang Corp's offer, due in early October.

Holyman Ltd.'s board of directors will recommend a fresh $.71 a share takeover bid from Lang Corp Ltd. Lang Corp increased its cash offer from $.61, topping a rival $.66 a share bid from Adsteam Marine Ltd. The new bid values Holyman at about $82.5 million, compared with just $53.5 million at Adsteam's original bid price of $.46. "We have discussed it and obviously we think it's good news for shareholders," managing director James Bryant said. "The board of directors will recommend that shareholders accept in the absence of another bid," he said. Adsteam Marine chief executive David Ryan said the company would consider its next move.