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Announces Agreement

Genco Takes Delivery of Second Capesize Vessel

Genco Shipping & Trading Limited has taken delivery of the Genco Tiberius, a January 2007-built 175,000 dwt Capesize vessel. The Genco Tiberius is the second vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capesize vessels from companies within the Metrostar Management Corporation group. The Genco Tiberius is currently on charter with Cargill International S.A. at a rate of $45,263 per day, less a 5% third party brokerage commission. The charter is due to expire between January 2010 and May 2010.


Navios Agrees to Acquire Four Newbuilds

Navios Maritime Holdings Inc. Announces Agreement to Acquire Four New Build Capesize Vessels with Secured Long-Term Employment Generating Approximately $43.33 million of EBITDA Annually - Issuance of $165.22 million of Mandatorily Convertible Preferred Stock - $52.82 Million Reduction in Cash Requirements for Three Existing New Build Capesize Vessels - Conference Call and Webcast: Tuesday, June 23, 2009 at 08:00 am EDT


GasLog to List on NY Bourse

Image courtesy of GasLog

LNG carrier owners and operators, GasLog Partners LP, inform it has priced its initial public offering of 8,400,000 common units representing limited partner interests at $21.00 per common unit. The common units will begin trading on the New York Stock Exchange on May 7, 2014 under the ticker symbol “GLOP”. The offering is expected to close on May 12, 2014. The underwriters have a 30-day option to purchase up to 1,260


ENSCO and Chiles Offshore Announce Agreement to Merge

ENSCO International Incorporated and Chiles Offshore Inc. announced that they have signed a definitive merger agreement by which ENSCO will acquire Chiles. The Boards of both companies have approved the transaction. Under the terms of the merger agreement, Chiles' stockholders will receive 0.6575 shares of ENSCO common stock, plus cash of $5.25, for each share of Chiles' common stock. Total value of the transaction is approximately $578 million based on ENSCO's closing price as of May 14


Northrop Grumman To Acquire TRW for $60 per Share in Stock

Northrop Grumman Corporation and TRW Inc. jointly announced that they have entered into a definitive merger agreement. The combination will position Northrop Grumman as the nation's second largest defense contractor with projected annual revenues of more than $26 billion and approximately 123,000 employees. Following the separation of TRW's automotive business and completion of the sale of TRW's Aeronautical Systems business, Northrop Grumman will be a Fortune 100 company.


Dryships Agreement with Nordea Bank

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has reached final agreement and received formal approval from Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG regarding the previously announced covenant waiver in connection with the $800m Primelead facility consistent with the terms previously announced on February 9, 2009.


General Maritime Announces Agreement With Creditors

New York - General Maritime Corporation announced that it had reached an agreement on a modified plan of reorganization with the Official Committee of Unsecured Creditors, funds managed by Oaktree Capital Management, L.P. and their investment entities and holders of more than 40 percent of the Company's Senior Notes.  The Modified Plan is also supported by 66-2/3 percent of the Company's key senior lenders, including its bank group, led by Nordea Bank Finland plc


Intellian, Kymeta Announce Agreement

   Dr Nathan Kundtz, Kymeta President and CTO (left) and Eric Sung, Intellian President and CEO with a Kymeta mTenna™ Prototype

  Intellian, a global provider of stabilized marine satellite antenna systems, is partnering with Kymeta corporation to commercialize next generation Ku-band maritime satellite terminals. Intellian announced the partnership today at the SATELLITE 2015 conference in Washington, D.C.   The terminals, built by Intellian, will integrate Kymeta’s thin, flat, lightweight, electronically beam-steered mTenna satellite antennas, which are built on metamaterial-based technology.


Wolong Signs Agreement

Singapore-based Wolong International has announced the signing of a licensing agreement with Fr. Fassmer Gmbh of Germany for the production of Wolong (Fassmer Licensed) totally enclosed lifeboats. The agreement, signed on October 1, 2001, serves to synergize the West and East. Production of the Wolong lifeboats is to b e carried out in China and is expected to commence within the month. Fassmer with this agreement will be providing the technical support to Wolong International in upgrading


Topaz Successfully Arranges Refinancing

Phase One of US$ 330 million loan agreement signed.   UAE-based Topaz Energy and Marine Ltd. (Topaz), a leading oilfield services multinational and a subsidiary of Renaissance Services, announced that it has signed phase one of a US$ 330 million loan agreement with a syndicate of banks towards the refinancing of some of its existing loans. The deal paves the way for extra liquidity and new investments in Topaz’s Offshore  Support Vessel (OSV) operations.  


Speedcast, Tampnet Partner for GoM 4G/LTE Service

Speedcast International Limited,  provider of fully managed remote communication and IT solutions, has signed a reseller agreement with Tampnet for 4G/LTE services in the Gulf of Mexico. The agreement marks Speedcast as the first service provider to partner with Tampnet for its high capacity


AWO, ACC Renew Chemical Shipping Agreement

The American Waterways Operators (AWO) and The American Chemistry Council (ACC) have renewed for three years a Memorandum of Agreement to promote environmental, health, safety and security performance through ACC's Responsible Care and AWO's Responsible Carrier Program


Scorpio Bulkers Charters in Ultramax Vessel

Dry bulk vessels owner Scorpio Bulkers Inc. said it has entered into a time charter-in agreement with an unrelated third party on one Ultramax vessel.   The agreement is for two years at approximately $10,125 per day with an option to extend the agreement for one year at approximately $10


Shipping Nations to Promote Digital Certificates

E-Cert MoU by Danish Norwegian and Singapore Maritime Authorities is step in the right direction to digitalise shipping industry. Photo: Maritime and Port Authority of Singapore

 Danish Maritime Authority (DMA) Director General Andreas Nordseth, signed an agreement with Singapore and Norway on cooperation on digital certificates. The agreement is intended to make more countries migrate from paper certificates to digital certificates.  


Viking Line Inks Shipbuilding Deal with Xiamen

Image: Viking Line

Finland based Viking Line said it has signed a conditional contract with Chinese shipyard Xiamen Shipbuilding Industry Co. for the construction of a new passenger cruise ship for delivery in 2020.   A final agreement is subject to the approval of the board of directors of both parties


Total E&P UK, Survitec Ink Lifesaving Equipment Deal

Survitec Group has announced a five-year contract award with Total E&P UK Ltd for the provision of lifesaving equipment maintenance services.    The contract, which adds to an existing contract for lifeboat maintenance services


European Banks Back Green Shipping Deal

EIB Group’s headquarters in Luxembourg. Photo: European Investment Bank

The European Investment Bank and Dutch bank ABN Amro will sign an agreement to support investments for greening the European shipping fleet.    This framework is the first with a financial institution in the Netherlands and is supported by the Connecting Europe Facility and was made


Polarcus Amani Delivered to Sovcomflot

Polarcus Amani (Photo: Polarcus)

 A 5.5 year bareboat charter agreement between Polarcus Limited Norwegian subsidiary Polarcus Amani AS and SCF GEO AS (Sovcomflot) has been signed, and the vessel delivered to Sovcomflot in Bergen.   The vessel was delivered without streamers


DryShips Acquires Three Kamsarmax Bulkers

DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014.   One 81,918 DWT Kamsarmax drybulk carrier is built in 2014. The company expects to take delivery of this vessel during the second quarter of 2017.   


Seanergy Bags Time Charter for Capesize Bulker

Photo: Seanergy Maritime Holdings Corp

 Seanergy Maritime Holdings Corp has entered into a time charter contract (T/C) with a major European charterer, for one of its Capesize dry bulk vessels, for a period of about 18 months to about 22 months.    The T/C is for the 180


FSL Aframax Tanker Enters Teekay RSA

FSL Hong Kong (Photo: FSL Trust)

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), announced that the Trust has agreed to employ the 115,000 DWT Aframax crude oil tanker FSL Hong Kong, post dry docking, in the Teekay Group Revenue Sharing Agreement (RSA).


DP World, Port of Fujairah End Concession Agreement

File Image (CREDIT: AdobeStock / (c) Pavel Losevsky)

Dubai-based ports operator DP World said on Sunday it and the Port of Fujairah have agreed to terminate the company's concession agreement to operate the port.   DP World entered into the agreement in 2005 on a build, operate and transfer basis to expand and develop the container terminal


Cosco Delays Delivery of Jack-up Rigs for Northern

Photo: COSCO Shipyard Group

 Cosco (Dalian) Shipyard, subsidiary of Cosco Shipyard Group, has reached an agreement with Bermuda-based rig owner Northern Offshore to further delay the delivery dates of two jack-up drilling rigs amid challenging offshore drilling market.   


FMC Oks Virginia/Georgia Port Agreement

Photo: Georgia Ports Authority / Stephen B. Morton

Port authorities in Virginia and Georgia will be allowed to engage in discussions about a variety of commercial and operational topics as a result of the U.S. Federal Maritime Commission (FMC) voting to allow the "East Coast Port Gateway Terminal Agreement" to go into effect.  


DryShips Acquires Six Vessels

Image: DryShips Inc.

 DryShips Inc.  has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited.   These vessels are comprised of one Aframax tanker built in 2012, three Kamsarmax drybulk vessels






 
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