Boskalis Sells Stake in Middle East Maritime Contractors
Royal Boskalis Westminster N.V. (Boskalis) has sold its 40% stake in Archirodon Group N.V. Boskalis explain that the possible sale had already been announced in November 2012 after Boskalis was approached by the party in question from the Middle East. The equity interest was partly sold to this party and partly to the existing 60% co-shareholder. Boskalis received a cash sum of USD 190 million for its 40% stake, resulting in a book gain of several tens of millions of euros. The Archirodon activities and results will be deconsolidated with effect from the third quarter 2013.
Boskalis wins Singapore Business
Royal Boskalis Westminster nv has acquired a substantial order in Singapore for the construction of a large outfall in the Changi area. The order, which is part of the Deep Tunnel Sewerage System project in Singapore, has a contract value of approximately € 135 million. The project will be executed in cooperation with Archirodon from June 2002 on during a period of approximately 36 months. The project entails the laying of three pipelines for the disposal in sea of treated effluent from the new 'Changi Water Reclamation Plant'. The pipelines will be installed onshore and in a trench in the seabed. The work includes dredging of a trench offshore…
Boskalis Placement Covers Dockwise Deal
Royal Boskalis Westminster N.V. has successfully placed USD 325 million US Private Placement notes with 24 institutional investors in the United States. The issue was heavily oversubscribed with a book close to USD 2 billion. The senior notes carry a 10 year maturity with an annual interest rate of 3.66%. The proceeds of the private placements, together with USD 190 million cash received from the recent disposal of Archirodon, will be used to fully repay the USD 525 million bridge facility, which purpose was to partly finance the acquisition of Dockwise. With these US private placements, in addition to the three and five year committed bank facilities and the existing 2010 US private placements, Boskalis will continue to have a solid financial structure.
Boskalis Reports Exceptionally Good 2013 Third Quarter
Royal Boskalis Westminster N.V. (Boskalis) raises its 2013 net profit outlook to at least EUR 360-million. Boskalis says it has concluded an exceptionally good third quarter. Revenue, adjusted for the sale of the 40% stake in Archirodon, and earnings were higher than in the first and second quarter of 2013 against stable market conditions. The order book increased compared to the end of the first half of the year and adjusted for the sale of the 40% stake in Archirodon, to EUR 4.3 billion.
Boskalis Expanding Subsea
Royal Boskalis Westminster N.V. (Boskalis) is set to expand its market position in the area of subsea services, according to its Corporate Business Plan 2017-2019. "In a persistently challenging market there tend to be interesting opportunities for anti-cyclical investments in companies or equipment that will result in Boskalis being well-positioned when end-markets recover again," it says. In mid-August Boskalis acquired subsea survey specialist Gardline, and the group recently…
Boskalis H1 2013 Results Pointing to Record Profit
In their half year 2013 report the Boskalis Board of Management expects that, barring unforeseen circumstances, net profit for the 2013 financial year will be at least EUR 330 million, including the book gain of approximately EUR 50 million on the sale of the 40% stake in Archirodon that will be accounted for in the second half of the year. Royal Boskalis Westminster N.V. (Boskalis) realized a net profit of EUR 123 million in the first half of 2013 (H1 2012: EUR 102 million). Dockwise contributed EUR 15 million to this result.
Boskalis Extends Container Port at Panama Canal Entrance
Boskalis extends container port at Panama Canal entrance Dredging company Royal Boskalis Westminster has won a contract for the extension of the container port of Balboa, Panama, at the Pacific mouth of the Panama Canal. The work is expected to be completed in 15 months. The contract is worth approximately $67.1m. The project will be executed for Panama Ports Company S.A., a member of the Hutchison Port Holding Group of Hong Kong. The work includes the construction of additional port area, a retaining rock dike and a link structure to the existing berths 16 and 17. Boskalis will deploy its American trailing suction hopper Stuyvesant, a large backhoe and a few transport barges for this job. The civil works will be executed by the Panamanian partner Intercoastal Marine Inc.
Vopak Sells Stake In Heavy Transport Group
Dutch-based chemical distribution and storage company Vopak NV said on Thursday it had sold one third of its 30 percent stake in unit Heavy Transport Group NV to unlisted Dutch partner Heerema. The transaction will generate a book profit of about 20 million euros ($18.15 million), which will be included in the 2001 results as an extraordinary gain, Vopak said in a brief statement. Last week, the group said it planned to trim its ownership in the shipping sector. Vopak was formed in November 1999 through the merger of Dutch sector peers Van Ommeren and Pakhoed NV. - (Reuters)
Boskalis Posts Record Net Profit in 2013
Royal Boskalis Westminster N.V. (Boskalis) reports an increased revenue of EUR 3.5 billion in 2013 (2012: EUR 3.1 billion). Net profit rose sharply to EUR 366 million (2012: EUR 249 million), partly due to a number of extraordinary items amounting to EUR 97 million post tax. Boskalis intends to distribute a dividend of EUR 1.24 per share and intends to start a three-year share buyback program. EBITDA also reached a record high level of EUR 800 million (2012: EUR 567 million) and EBIT was EUR 466 million (2012: EUR 336 million).
Boskalis Conclude Good Quarter, Raise Earnings Outlook
Dutch dredging & marine specialists, Royal Boskalis Westminster N.V. (Boskalis) report revenue & profit higher than in the first half of 2012. The order book increased in recent months and stood at a new record high of EUR 4 billion at the end of the third quarter. Based on current insights, the second half of the year is expected to be strong with a high workload and good results anticipated on a number of dredging projects in progress and close-out results. Boskalis is now expecting net profit to amount to around EUR 230-245 million in 2012. Based on current insights, the second half of the year is expected to be strong with a high workload and good results anticipated on a number of dredging projects in progress and close-out results.
Vopak To Sell Bitumen Fleet
Dutch-based chemical distribution and storage company Vopak NV said it signed a memorandum of understanding to sell its bitumen fleet to Swedish Tarbit Shipping AB. No financial details of the planned sale were released. Vopak had earlier said the bitumen fleet member Theodora Tanker no longer fitted with its strategy. Earlier this year Vopak sold one-third of its 30 percent stake in unit Heavy Transport Group to unlisted Dutch partner Heerema. Vopak was formed in November 1999 through the merger of Dutch sector peers Van Ommeren and Pakhoed NV. - (Reuters)
Green Named CEO P&O Nedlloyd Container Line
P&O and Royal Nedlloyd N.V. announced the appointment by P&O Nedlloyd Container Line Limited of Philip Green as Chief Executive Officer from January 1, 2004. Green was, until recentl,y Chief Operating Officer of Reuters Group plc which he joined in 1999. His responsibilities included the design and implementation of a global change management program. Prior to this he worked for nine years with DHL International, the global market leader for cross-border express delivery, becoming Chief Operating Officer for Europe and Africa. Green holds an MBA from London Business School and a BA (hons) degree from the University of Wales. Haddo Meijer, CEO of Royal Nedlloyd NV, will stand down as Chairman of the Executive Committee of P&O Nedlloyd on January 1, 2004.
Euronav Secures Loan for VLCC Refinancing
Tanker shipping company Euronav NV announced it has signed a new $410 million senior secured amortizing revolving credit facility. The facility has been made available on December 16, 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital purposes. The credit facility was used to refinance the $500 million senior secured credit facility dated March 25, 2014 and will mature on January 31, 2023 carrying a rate of LIBOR plus a margin of 2.25 percent.
Euronav Gets Credit Line of $ 410mln
Euronav NV announces has signed a new USD 410 million senior secured amortizing revolving credit facility. The facility has been made available on 16 December 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital purposes. The credit facility was used to refinance the USD 500 million senior secured credit facility dated 25 March 2014 and will mature on 31 January 2023 carrying a rate of LIBOR plus a margin of 2.25%. Hugo De Stoop, CFO of Euronav said: “This new facility will provide a lot of flexibility for Euronav.
Euronav Acquires $ 750 mi Facility
The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB Bank ASA and Nordea Bank Norge ASA acting as Coordinators, Mandated Lead Arrangers and Bookrunners and ABN AMRO Bank NV, ING Bank NV and Skandinaviska Enskilda Banken AB (publ) (SEB) acting as Mandated Lead Arrangers and Bookrunners and Crédit Agricole Corporate and Investment Bank acting as Lead Arranger whilst KBC Bank NV, Scotiabank Europe plc and Société Générale acting as Co-Arrangers.
Euronav Announces Half Year Results
Euronav NV posted a rise in final first half net profit to $135.5m from $124.7m, and said its final first half sales dropped to 329.1 mln usd from 349.1 mln last year. When it published preliminary H1 figures at the end of July, the group said the freight market in the second quarter was higher than in the first quarter, against seasonal expectations. The group also said in July that although the market has softened noticeably in recent weeks, the outlook for the rest of the year remains positive. Source: Forbes
Offshore Center Rotterdam in Progressing
The first 30 hectares of Offshore Center Rotterdam have been completed. PUMA, a project organisation created by a partnership between Dutch hydraulic engineering firms Koninklijke Boskalis Westminster NV and Van Oord NV that focuses specifically on the expansion of the Maasvlakte site, processed 6 million m3 of sand in four months to complete the work. Only 2 million m3 of sand are now needed to raise the other 40 hectares to the required level. There is considerable interest in the centre. The Port of Rotterdam expects the first companies to establish themselves on the site in 2019.
Euronav Enters FSO Market
Euronav NV announced that Maersk Oil Qatar AS has awarded two contracts for the provision of Floating Storage and Offloading (‘FSO’) services on the Al Shaheen field off shore Qatar. Euronav NV and Overseas Shipholding Group. obligations, the company can disclose that the award of the contracts for eight years is to be performed by two vessels, the TI Asia (2002) and the TI Africa (2002), both double hull tankers with 442,000 deadweight tones, the largest ships of this type in the world and currently respectively in the ownership of Euronav and OSG. The Contracts will call for extensive conversion and the vessels will commence the provision of FSO services in July and September of 2009.
Genco to Acquire Three Drybulk Vessels
Limited announced that it has agreed to acquire three 2007-built drybulk vessels from Bocimar International N.V. and Delphis N.V., for an aggregate purchase price of approximately $257.0 million. The acquisition is subject to the completion of customary additional documentation and closing conditions. The three vessels, comprised of two Panamax vessels and one Supramax vessel, are expected to be delivered to Genco during the third and the fourth quarters of 2008. Upon completion of the acquisition, and including the four remaining Capesize vessels to be acquired from companies within the Metrostar Management Corporation group, Genco's fleet will consist of 35 drybulk vessels with a total carrying capacity of approximately 2,910,000 dwt and an average age of approximately 6.6 years.
Jan De Nul NV expands Jamaican Port
Jan De Nul NV is part of a consortium that is responsible for the expansion of the port of Kingston. In 25 months the access channel and the port basin will be deepened, and the berths on the existing quay walls will be reinforced and renovated. Hence, the port will be able to provide access to larger container vessels , which will find their way to the region more easily thanks to the expansion of the lock complex in the Panama Canal. For the dredging activities Jan De Nul NV will mobilize 6 vessels…
nv-charts Now Available for Cuba
nv-charts, a global supplier of precision charting products for mariners and cruising sailors, has now extended its coverage and produced new chart regions for the North Coast of Cuba. The coverage is divided into two regions; the northwest coast chart set is Region 10.2, and the Northeast coast is Region 10.1. Cruisers interested in visiting Cuba and navigating the northern coast safely will be especially pleased at the availability of NV Charts’ two regions, NW and NE, because they are simply not available anywhere else.
NV Charts Release Free Mobile Navigation App
Motor boaters, sailors, and cruisers who want to ride the cutting‐edge crest of navigation with mobile devices can now take advantage of NV charts App, a new, simple‐to‐use free app now available from NV charts, a global leader in highly accurate, detailed maritime chart products. The new NV charts App is free and makes it a simple matter to download NV charts’ superior chart regions to iPads, iPhones and all iOS platforms as well as Android operating devices. For years, NV charts has offered paper charts, as well as digital versions for download onto a laptop or notebook PC for navigation.
Boskalis Report Good Financial Progress
Royal Boskalis Westminster N.V. (Boskalis) say that developments in first quarter 2013 to date are in line with expectations. Boskalis realized a higher revenue in the first quarter of 2013 compared to the same period last year. There was no material change in market circumstances during the quarter, with continued pressure on margins and challenging conditions. The acquisition of Dockwise was finalized at the end of March and the Dockwise results will be included in the consolidated figures from the second quarter. reported good margins with a revenue level that was in line with the first quarter of 2012. Utilization of the hopper fleet was good in the first quarter and was higher than the 2012 full year utilization rate.