York County News

When it comes to docking and protecting your most valuable assets, there is no room for compromise.In relation to the sea, there is no room for compromise. That’s the philosophy that SF Marina Systems has brought to the design and manufacturing of concrete floating structures, stretching over 100 years of design history, research and development. These “Storm Proven” systems have evolved over time, producing longevity, low maintenance, and a single-cast design with proven connections endure decades of service. That’s especially important for municipalities and passenger vessel operators looking to enhance, expand or even to start a new…

Oil tanker firm Frontline said on Friday the high court in the Marshall Islands has agreed to hear on May 17 its complaint against takeover target DHT Holdings, which is incorporated in the remote Pacific republic, over a rival deal with BW Offshore. Frontline, controlled by Norwegian-born billionaire John Fredriksen and owner of a 14.5 percent stake in DHT, has been trying for the past year to take over its New York-listed rival and is opposing what it called "unfair transaction…

John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week. Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT, has over the past year tried to acquire all of DHT's shares to forge the world's largest shipping tanker company. On Tuesday it made another all-share offer -- 0.8 of a Frontline share for each DHT share -- and set a 24-hour deadline for DHT to respond to the $500 million offer.

DHT Holdings, Inc. said it has taken delivery of the DHT Utik, the first of 11 very large crude carriers (VLCC) acquired from BW Group Limited in exchange for DHT's shares. The delivery was made despite a last-minute effort by rival oil tanker firm Frontline to prevent the deal that will bring BW's ownership in DHT to 33.5 percent, surpassing Frontline as DHT's top shareholder. Frontline’s lawsuit was rejected in New York County Supreme Court. Of the 11 VLCCs sold in the deal…

A U.S. court has rejected a last-minute effort by billionaire investor John Fredriksen's Frontline to prevent BW Group from acquiring a major stake in rival oil tanker firm DHT Holdings, DHT said on Thursday. The New York County Supreme Court's decision means that privately-owned BW Group, led by shipping tycoon Andreas Sohmen Pao, can proceed with the sale of 11 very large crude carriers (VLCCs) to DHT in exchange for DHT's shares. "The transaction will proceed as planned, and in fact the first ship is being transferred to DHT today…

CVR Energy Inc is bound by agreements to pay Goldman Sachs Group Inc and Deutsche Bank AG more than $36 million in fees and expenses stemming from billionaire investor Carl Icahn's 2012 tender offer for the oil refiner, a New York state judge has ruled. The banks had each sued CVR in 2012, claiming CVR had hired them to provide financial advice on Icahn's ultimately successful tender offer for its stock, and agreed to the fees based on the size of the transaction. In May 2012, Icahn won control of CVR with an 80 percent stake after a majority of shareholders accepted his $30 per share tender offer, which valued the Sugar Land, Texas-based company at about $2.6 billion.

HII's Newport News Shipbuilding (NNS) division donates  more than 20,000 school supplies to assist about 1,000 area students. "HII stresses the importance of education and encourages our employees to get involved in their communities," said Chavis Harris, NNS' director, EEO, diversity and corporate citizenship. "School Tools allows us to engage in both. Shipbuilders donated a variety of school supplies, including 6,258 pencils, 4,386 ball point pens and 911 packs of paper. The supplies were sorted and delivered Friday to area departments of social services…