ARCO Chief Receives $27.6M BP Pay-Off
Mike Bowlin, chief executive of the U.S. oil major Atlantic Richfield Co. will reportedly receive a $27.6 million severance payoff when his company is acquired by BP Amoco Plc.
P&O European Ferries Orders £33M Ferry
P&O European Ferries reportedly signed a £33 million contract with Japanese shipbuilder Mitsubishi Heavy Industries to build a new ferry for the Irish Sea.
Kvaerner Faces $125M U.S. Lawsuit
Kvaerner is reportedly facing a damages claim for $125 million following its repossession of a cruise ship four years ago.
Smit Internationale Buys South Africa’s Pentow
Smit Internationale NV reportedly agreed to buy South Africa's Pentow Marine (Pty) Ltd.
Montanari Extends Bid For Skaugen
Navigazione Montanari will reportedly extend the offer period on its bid to take over Norwegian shipping firm I.M. Skaugen by two weeks.
Osprey Obtains Loan Extension
Osprey Maritime Ltd. reportedly reached an agreement with its bankers for an extension of a portion of its loans, currently totaling $370 million.