Ultrapetrol to Refinance, Sells 7 Barges

Press Release
Wednesday, May 29, 2013

In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges.

Ultrapetrol (Bahamas) an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply
Business and Ocean Business), announced today its intention to offer to sell, subject to market and other conditions, $200.0 million aggregate principal amount of its senior secured notes due 2021.

The company plans to use the net proceeds of the offering to fully refinance its existing $180 million aggregate principal amount of its senior notes due 2014, as well as for general corporate purposes.

Secondly, the company announce the sale of of a further seven tank barges to a third party in Colombia who have exercised their option for these additional barges. The barges are scheduled for delivery at the end of 2013.

Ultrapetrol serves the shipping markets for containers, grain and soya bean products, forest products, minerals, crude oil, petroleum, and refined petroleum
products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Ship Sales

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

Samsung Heavy Loses $4.6-bln FLNG Order

South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied

Japan wants Australian Explaination for Failed Sub Bid

Japan wants Australia to explain why it decided not to pick a Japanese design for a new fleet of submarines choosing instead a proposal from France's DCNS. "The decision was deeply regrettable,

Finance

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

Ocean Economy Set to Double in Size by 2030

The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010.   "Calculations based on the

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

Barges

USCG Uses Skiff Ice Boat to Rescue Injured Man

The U.S. Coast Guard medically evacuated a man off of a dredging barge in Lake Erie near Sandusky, Ohio, Wednesday evening. At approximately 5:45 p.m., a good

New Tank Barge Delivered to Harley Marine

The newly built tank barge, the Fight A.L.S., was delivered to Harley Marine Services on February 19, 2016.   Designed by Elliott Bay Design Group (EBDG) and constructed at Vigor Fab in Portland,

AWO, Stakeholders 'Barge In' at Capitol Hill

American Tugboat, Towboat and Barge Industry Urged Support for American Jobs, Vessel Discharge Reform, and Waterways Infrastructure.   Members of the American Waterways Operators,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Winch
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: 0.0869 sec (12 req/sec)