U.S. Shipping Corp Debt Refinancing

MarineLink.com
Friday, May 03, 2013
ATB Freeport-Chemical Transporter Outbound Corpus Christi. Photo: Lanmon Aerial Photography

U.S. Shipping Corp said it has successfully completed the refinancing of its existing debt, which had a scheduled maturity of August 2013. The new debt matures in 2018.

Mike Ryan, President and CEO of US Shipping, said, “With the refinancing behind us, we look forward to pursuing market opportunities and expanding our business. We would like to thank our customers, vendors and employees for their tremendous support over the past several years.”

Al Bergeron, U.S. Shipping Corp’s Chief Financial Officer, said, “We are pleased with the outcome of our refinancing. Our new credit arrangements provide us with more financial flexibility to respond to market conditions and demands.”

www.usslp.com
 

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

People & Company News

Wheelabrator Tallies 1 Million Safety Hours

Wheelabrator Group said it reached a major milestone during the first quarter of 2014 with 1 million hours without a lost time incident. More than 200 Wheelabrator

SSI Rep Sponsors Brazilian Offshore Seminar

SSI and its representatives continue to engage with leaders of the shipbuilding and offshore industry to help increase productivity and solve business challenges.

Sakhalin Energy, Sovcomflot Order Newbuild

The companies have signed a number of agreements for construction and long-term operation of the vessels for Sakhalin-2 project. At an official ceremony in Moscow,

Bulk Carrier Trends

Commodity Giant Steps out of the Shadows

A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry,

Cargill to Buy 100,000mt of Certified Ivorian Cocoa

U.S. agribusiness trader Cargill aims to purchase 100,000 metric tons of certified Ivorian cocoa this season, up slightly from 95,000 metric tons last season, West

Ice Hurts March’s Lakes Ore Shipments

Massive, thick ice formations on the Great Lakes limited iron ore shipments in March to 1.1 million tons, a decrease of 43 percent compared to a year ago, the Lake

Finance

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

Japan Expresses Concern Over Chinese Ship Seizure

The Japanese government has expressed its concerns to China via diplomatic channels over the seizure of a Mitsui O.S.K. Line Ltd ship by a Chinese court in connection with a case over wartime claims,

China Shipbuilder Rongsheng in 2013 Revenue Freefall

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.1811 sec (6 req/sec)