Marine link
 

Stock Offering

DryShips Completes Common Stock Offering

File Photo: DryShips Inc

 DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017.   Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding.   George Economou, Chairman and CEO commented: "We are very pleased to have successfully raised an additional $198 million of equity, which will increase our total available liquidity to about $455 million. We continue to look at opportunities to diversify and grow our fleet with high quality tonnage and significant operating leverage."   The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk carriers, which have a combined deadweight tonnage of approximately 1.0 million dwt, (ii) one Very Large Crude Carrier and one Aframax tanker newbuilding, each of which are expected to be delivered in the second quarter of 2017, (iii) 2 Very Large Gas Carrier newbuildings which are expected to be delivered in the second and third quarter of 2017, respectively, and (iv) six offshore support vessels, comprising two platform supply and four oil spill recovery vessels


Northrop Grumman Announces Newport News Shipbuilding Exchange Ratio

Northrop Grumman Corporation announced in connection with its offer to acquire all of the outstanding shares (including associated preferred stock purchase rights) of Newport News Shipbuilding that the exchange ratio for the common stock of Newport News has been fixed at 0.7193. Accordingly, stockholders of Newport News who elect to receive solely Northrop Grumman common stock in the offer will receive approximately 0


Northrop Grumman to Acquire Litton Industries for $5.1B

In a move which effectively creates a defense and marine naval construction giant, Northrop Grumman Corp. and Litton Industries jointly announced late last month that they have signed a definitive agreement under which Northrop Grumman will acquire for cash all of the outstanding shares of Litton for $80 per common share and $35 per Series B Preferred share. The transaction is valued at approximately $5.1 billion, which includes the assumption of Litton's $1.3 billion in net debt.


Crowley Settles Stockholder Lawsuit

Crowley Maritime Corporation reached a proposed settlement in the pending Franklin Balance Sheet Investment Fund v Crowley ("Franklin") litigation, a purported class action and derivative complaint filed in November 2004 against certain members of the board of directors and Crowley. The plaintiffs in that lawsuit have agreed to its dismissal if they and the other unaffiliated holders of Crowley common stock have the opportunity, through a tender offer, to sell their common stock for $2


Ardmore Shipping Announces Secondary Public Offering by GA Holdings

Photo: Ardmore Shipping Corporation

 Ardmore Shipping Corporation announced that GA Holdings LLC intends to offer for sale in an underwritten public offering 4,000,000 shares of the Company's common stock.    The Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.    The shares to be sold by the Selling Shareholder, excluding shares subject to the option


Royal Caribbean Prices Public Offering

Royal Caribbean Cruises Ltd. has priced the public offering of 10,800,000 shares of its common stock at a price of $46 11/16 per share. Of the 10,800,000 shares offered, 10,000,000 shares are being sold by the company, and 800,000 shares are being sold by a selling shareholder. The company has granted to the underwriters of the offering an option to purchase up to an additional 1,620,000 shares of common stock to cover over-allotments


Costamare Announces Pricing of Common Stock Offering

Athens - Costamare Inc. announced that its offering of 7,500,000 shares of its common stock was priced at $14.10 per share. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be approximately $105,750,000. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have agreed to purchase 750,000 shares in the offering


Euroseas Ltd. Announces Public Offering

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that it is commencing a public offering of 5,000,000 shares of its common stock under the Company’s effective shelf registration statement. In addition, one of the Company’s shareholders will be offering 750,000 shares. Wachovia Securities and Oppenheimer & Co. will act as joint bookrunning managers


Maritrans Inc. Announces Tender Offer

Maritrans Inc. announced that its Board of Directors has approved the initiation of a modified "Dutch auction" tender offer by Maritrans to purchase up to 2,000,000 shares of its outstanding common stock at a price per share of not less than $11.00 per share nor in excess of $12.50 per share. The tender offer is expected to commence on Monday, December 17, 2001 and to expire, unless extended, at 5:00 P.M., New York City Time, on Friday, January 18, 2002.


Dresser-Rand Prices IPO

Dresser-Rand Group Inc. has priced its initial public offering of 27,000,000 shares of common stock at $21.00 per share. All of the shares are being offered by Dresser-Rand Group Inc. The common stock will begin trading tomorrow on the New York Stock Exchange under the symbol "DRC." Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. are serving as joint book-running managers of the offering. UBS Securities LLC is co-lead manager of the offering, and Bear, Stearns & Co


Golden Ocean Adds Golden Keen

Photo: Golden Ocean Group

 Golden Ocean Group (GOGL) has announce that it has taken delivery of the last vessel, Q Keen (to be renamed Golden Keen), hence all 16 vessels are now delivered.    Golden Ocean has issued 1,050,000 consideration shares to Quintana Shipping Ltd


Yang Ming to Float 500 mln Shares

Photo: Yang Ming Marine Transport

 The Taiwanese ocean carrier Yang Ming Marine Transport will make a public offering of 500 million shares as part of the company's ongoing recapitalization plan, the Taiwanese ocean carrier said in a statement .  It will offer the shares to existing shareholders


COSCO Shares Climb After OOIL Bid

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

COSCO Shipping Holdings Co Ltd saw its stock climb on Monday after bidding $6.3 billion for a Hong Kong peer, a deal that would see it become the world's third-biggest container shipper and underline China's supply-chain ambitions.   The offer for Orient Overseas International Ltd (OOIL)


COSCO to Buy OOCL for USD 6.3 bln

Photo: Orient Overseas Container Line Limited

 Chinese Shipping Major Cosco Group has agreed in principle to buy its shipping rival and  Hong Kong’s No. 1 box mover, Orient Overseas Container Line (OOCL), in deal that could be valued around USD 6.3 billion.  The takeover will catapult Cosco the world’s


Aqualiner Orders Four Damen Waterbus Vessels

The Aqua Diamond in operation on the River Scheldt. (Photo: Damen)

Recently, Aqualiner signed a contract with Damen Shipyards for four Damen Waterbus 2407 vessels. The waterbuses will provide public transport services in the Belgian city of Antwerp, as part of a wider transportation program also including land-based public transport services and road


DOF Subsea Shelves IPO Plans

Pic: DOF ASA

Norway's DOF Subsea has decided to hold off on launching its initial public offering (IPO), citing volatile market conditions.   Company shareholders DOF ASA, with 51 percent, and a fund managed by First Reserve, with 49 percent ownership


Hunter Maritime Terminates Tender Offer for Bulkers

Bulk carrier anon: File photo

 Marshall Islands based Hunter Maritime Acquisition revealed it has “mutually agreed” with Germany’s Oskar Wehr to terminate the master agreement and the memoranda of agreement (MOA) related to the acquisition of five Capesize dry bulk carriers.  


Should OPEC Worry About Contango and Backwardation?

"Backwardation is the solution" to OPEC's problem of how to raise output and revenues without sparking another shale boom, according to the influential oil research team at Goldman Sachs. Backwardation would allow low-cost oil producers in OPEC to sell their output at a higher price


SEACOR Declares Spin-Off Dividend of SEACOR Marine Shares

SEACOR Holdings Inc. and SEACOR Marine Holdings Inc. announced the timing and details regarding the spin-off of SEACOR Marine from SEACOR. The SEACOR board of directors has declared a pro rata dividend of the shares of SEACOR Marine common stock owned by SEACOR that will result in the complete


New ASD Tug for Saam Smit in Panama

Damen ASD Tug 2411 SST Portobelo (Photo: Damen)

Saam Smit Towage has ordered a new ASD (Azimuth Stern Drive) 2411 tug from Damen Shipyards, for operations in the port of Colón, Panama. Built for stock at Damen Song Cam Shipyard in Vietnam, it was subsequently transported to the Netherlands for finishing


DHT Rejects Frontline Bid, Again

Photo: DHT Holdings, Inc

 Crude oil tanker company DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline.   A statement from DHT Holdings said that its Board of Directors has unanimously rejected Frontline April 25 proposal to acquire all of the outstanding


Cutter Suction Dredger Delivered to Heuvelman Ibis

Damen Cutter Suction Dredger 350 (Photo: CSD)

A Damen Cutter Suction Dredger (CSD) 350 has been delivered from Damen Dredging Equipment in Nijkerk, the Netherlands, to start work on a canal dredging assignment in the province of Groningen, in the north of the country. In order to execute the project


Diana Prices USD 70 mln Public Offering

Photo: Diana Shipping Inc

 Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels,  announced that it has priced its previously announced underwritten public offering of 17,500,000 common shares, par value US$0.01 per share, at a price of US$4.00 per share.   


MPC Rolls Out New Box Ship Investment Firm

Photo: MPC Capital AG

 MPC Capital AG, an international asset and investment manager, has initiated an investment company with a focus on small-size container ships between 1,000 and 3,000 TEU.    The newly formed 'MPC Container Ships AS' raised USD 100 million in equity in a private placement towards


PDVSA Readies Armada of Fuel Imports

About a dozen tankers are sailing to Venezuela or waiting offshore to discharge cargoes after state-run oil company PDVSA ramped up tenders to buy gasoline and other fuels to offset its weak refining output, according to traders and Thomson Reuters data.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright