Asx News

Shipbuilding group Austal on Thursday announced that its inaugural chairman, John Rothwell, is retiring from his position of Chairman of the company to serve on the Austal board as a non-executive director.Former U.S. Secretary of Navy Richard Spencer will replace Rothwell as Chairman, and will also join the board of Austal USA.Rothwell’s retirement as Chairman marks a significant milestone in the history of Austal, having served in the position for 37 years since he founded the company in 1987.

Australian shipbuilder Austal Ltd sank as much as 8.4% to its lowest level in more than four years on Monday after the United States Department of Justice indicted three of its former U.S. employees on manipulating financial information. Austal, which builds ships for the U.S. Navy and is working on parts of the Virginia class submarines, plunged to its lowest level since October 25, 2018, and marked its worst intraday drop since January 17. The U.S. Department of Justice (DOJ)…

Shares of ship builder Austal Ltd rise as much as 4.6 pct to A$1.940.Austal said that it has a news contract from the U.S. Department of Defense to build two more Littoral Combat Ships (LCS), bringing the total new LCS orders booked in 2018 CY to four ships. Reportedly, the new award is under the congressional cost cap of $584 mlnSeparately, the Commonwealth Bank of Australia will fund Republic of Trinidad & Tobago with a loan of A$80 mln ($57.40 mln) to assist it to purchase…

Shipbuilder Austal Ltd shares have risen as much as 4.5 percent to A$1.85, its highest since February 1.   The company's H1 net profit after tax has surged 174 percent, driven by strong performance in shipbuilding programs for U.S. Navy.   Over 900,000 shares have changed hands, compared with the 30-day average of 229,350 shares   The stock is among top percent gainers on the ASX All Ordinaries Index.

Austal has opened a new Pacific Patrol Boat Replacement (PPB-R) Shipbuilding Facility in Naval Base, Western Australia. Australian Defense Industry Minister Christopher Pyne cut the red ribbon at the 10,500m² facility in front of defense industry stakeholders, suppliers and partners from across Australia. Austal CEO David Singleton said the PPB-R project is estimated to create up to 207 jobs across production, project management, services and support - from Perth Western Australia to Cairns in Queensland.

Austal has successfully completed the Detailed Design Review (DDR) for the A$306 million Pacific Patrol Boat Replacement (PPB-R) Project on time and in accordance with the contracted schedule. A key element of the Commonwealth’s continuous naval shipbuilding strategy, the PPB-R Project is contributing to the growth of Australia’s sovereign shipbuilding capability in the lead up to the Offshore Patrol Vessel and Future Frigate programs for the Royal Australian Navy, due to commence in 2018 and 2020, respectively. The completion of the DDR, on time, formally signifies the end of the design phase and the commencement of the production phase of the nineteen steel vessel program, awarded to Austal in May 2016.

Press release- SpeedCast International Limited (ASX: SDA), a satellite communications and network service provider, has  launched a new maritime email communication solution called SpeedMail+, based on GTMaritime’s flagship new maritime email platform. SpeedMail+ combines SpeedCast’s unrivalled global VSAT and L-Band network with the full suite of GTMaritime’s services, including email, file transfer and anti-virus applications, developed for today’s communication requirements of the maritime sector.

Austal Limited (Austal) (ASX:ASB) has been awarded a US$11,239,032 cost-plus-fixed-fee contract modification from the U.S. Navy to provide emergent availability planning and full ship shock trials (FSST) support for tests to be conducted on Littoral Combat Ship USS JACKSON (LCS 6). Specifically, Austal USA will plan for and conduct any “in-between shot” repairs required during the FSST event(s), repair any damage sustained during the FSST period and coordinate the removal of FSST testing equipment and instrumentation following completion of the trials. The FFST comprise a series of tests designed to demonstrate the ship’s ability to withstand the effects of nearby underwater explosions and retain required capability.

Austal Limited (Austal) (ASX:ASB) delivered the future USS Montgomery (LCS 8) to the U.S. Navy, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile, Alabama, USA on 23 June. The delivery of LCS 8 marks the fourth Independence-variant Littoral Combat Ship (LCS) Austal has delivered to the Navy. Austal Chief Executive Officer David Singleton said this is the second vessel that Austal has delivered as the prime contractor and is testament to a lot of hard work in preparing the ship to the shock requirements. Six additional LCS remain under construction in Mobile as part of an 11-ship contract worth over US$3.5 billion from the U.S. Navy. Gabrielle Giffords (LCS 10), Omaha (LCS 12) and Manchester (LCS 14) are all preparing for trials.

Baltic says holding discussions with several parties. The Baltic Exchange confirmed on Friday it had received a number of "exploratory approaches" after the Singapore Exchange Ltd revealed it was seeking to buy the business which has been the hub of the global shipping market for centuries. Reuters exclusively reported on Thursday that the Baltic Exchange had held talks with SGX and other potential buyers, months after sources had said the London Metals Exchange (LME) made an approach to buy it. "The Baltic Exchange confirms that it has received a number of exploratory approaches and that it is now in confidential discussions with selected third parties regarding its future strategy and ownership," it said in a statement.

Liquefied  Natural  Gas  Limited  announced the placement of 40 million fully paid ordinary shares in the capital of LNGL, which has raised A$174 million before costs (Placement).  Commencement of an Early Works program at the proposed 8 mtpa Magnolia LNG (MLNG) project following receipt of the timeline established in the Federal Energy Regulatory Commission (FERC) Schedule of Environmental Review (SER) announced on 30 April 2015.  General corporate purposes. The Managing Director of LNGL, Maurice Brand, said “the capital raised will materially help us to progress the Magnolia LNG and Bear Head LNG projects under development in North America.

Standard automotive type alternators are a continuous potential source of ignition when operated in hazardous atmospheres where combustible concentrations of gas, vapor or dusts may exist. Chalwyn said its flameproof alternators are ATEX and IECEx certified for hazardous Zones 1 or 2, NEC 500 Division 2 and NEC 505 Zone 2. According to the manufacturer, this revised international ‘tri-certified’ upgrade is a benefit for companies who move their machinery between U.S., Europe and other defined international zones.

The Ferguson Group announces that it has been acquired by Brambles Limited for an enterprise value of £320 million. Brambles Limited is a supply-chain logistics company operating in more than 50 countries, primarily through the CHEP and IFCO brands. The group specializes in the pooling of unit-load equipment and associated services, focusing on the outsourced management of pallets, crates and containers. Brambles primarily serves the consumer goods, dry grocery, fresh food, retail and general manufacturing supply chains.

Liquefied Natural Gas Limited today informed having finalised the acquisition of 100% of Bear Head LNG Corporation (BHLC). This follows the announcement to the ASX by LNGL on 28 July 2014 regarding the signing of an agreement to acquire BHLC from a subsidiary of Anadarko Petroleum Corporation (Anadarko) for US$11.0 million, and the satisfaction of standard closing conditions and consents. This acquisition of BHLC is in line with LNGL’s strategy of acquiring sites in North America where the Company can replicate its Magnolia LNG Project and fast‐track development by using its existing LNGL development team and its OSMR® technology. * A 255‐acre site comprising industrial‐zoned land (180 acres) and deep‐water acreage (75 acres) as well as foundations in place for two 180…

Roc Oil (Bohai) Company, a wholly owned subsidiary of Roc Oil Company Limited (ASX:ROC), as operator of Block 09/05, Bohai Bay, Offshore China advises that drilling has commenced on the first exploration well QK11-1-1. Drilling from CPOE Rig 33 commenced at 11:00 China Standard Time on 14 August 2014. Total depth planned for this well is ~4,000 metres TVD (~4,500 metres measured depth). The 335 square kilometres block is located approximately 15 kilometres north of ROC’s existing Zhao Dong production and appraisal blocks in water depths of 5-15 metres. ROC was awarded 100% interest in the exploration block by China National Offshore Oil Corporation (CNOOC) in May 2012 and signed a Petroleum Contract shortly thereafter.

New Standard Energy Limited (New Standard) advises that it has received approval for amendments to its five year work program in PEL570 in the Cooper Basin. As part of the revised program, New Standard now has seismic and drilling to commence in Year Two before the new deadline of March 2016, with only minor expenditure on geological studies in Year One required before then. New Standard requested a suspension of the work program for PEL570 acreage and a deferral of the planned seismic due to the uncertainty surrounding the ownership of the Company’s PEL570 joint venture partner, Ambassador Oil and Gas Limited (ASX: AQO, Ambassador), which is the subject of two competing takeover offers.

Liquefied Natural Gas Limited (LNGL) informs that the US   Federal Energy Regulatory Commission (FERC) has accepted Kinder Morgan  Louisiana Pipeline LLC’s (KMLP) application pursuant to Section 7(c) of the Natural Gas Act for the Lake Charles  Expansion  Project,  establishing  1  August  2014  as the  deadline  by  which  interested parties must formally intervene and/or submit comments on the filing. Kinder Morgan, Inc. As detailed in the ASX release on 1 July 2014, KMLP’s application seeks FERC’s authorisation to construct and operate the Lake Charles Expansion Project, which would include the installation of  compression and other related facilities on the existing KMLP Pipeline…

Leighton Holdings Chairman, Mr Bob Humphris OAM, has announced his retirement as Chairman and his resignation as a Non-executive Director effective as of today. Mr Humphris signaled his intention to retire at the Company’s recent Annual General Meeting in May. Mr Humphris said: “It has been a privilege to be involved with Leighton for the last nine and a half years and as Chairman for the last year. However it is now time for me to retire from corporate life and to hand over to a new team. I look forward to watching Leighton grow and prosper in the future, building on the professionalism of our staff and, in particular, the Group’s very strong ‘can do’ culture.

Shares in Australia's Padbury Mining Ltd plunged as trading in the stock resumed after its plans for a deal to build a $6.5 billion iron ore port and rail network collapsed within a month of being announced. Padbury, a small explorer, surprised markets on April 11 when it said it had lined up more than $6 billion in funding from unnamed investors to build an iron ore port and rail line in Western Australia, a project that had been stuck on the drawing board for two decades. Padbury's announcement triggered a spike in its shares and the Australian Securities Exchange slammed a halt on trading until the company provided more details on the deal.

Beam Communications Pty Ltd, a wholly owned subsidiary of World Reach Limited (ASX: WRR), has announced the launch of RapidSat700, a portable satellite communications system that operates with the Inmarsat BGAN (Broadband Global Area Network) network. RapidSat700 is a portable “all in one case” for satellite communication deployment in emergency situations, first responder and disaster recovery work. The RapidSat700 solution is also ideal for a rapid setup providing easy access to voice and higher speed satellite data / internet access in remote areas.

Beam Communications Pty Ltd, a wholly owned subsidiary of World Reach Limited (ASX: WRR), announces that the satellite piracy solutions for secure communication on board a vessel will be available at the SMM show in Hamburg 4-7 of September. The systems operate with the Inmarsat or Iridium satellite networks. Of growing concerns across the globe are the deadly attacks on commercial and leisure vessels. Beam specialized anti-piracy communication solutions developed for the marine market is certainly addressing this problem.

Beam Communications Pty Ltd, a wholly owned subsidiary of World Reach Limited (ASX: WRR), announces a new satellite piracy solution for secure communication on board a vessel. The new system operates with the Inmarsat satellite network. Beam’s new Oceana 800 Covert Piracy Solution provides a dedicated system for a safe room or citadel on board a vessel. The system ensures that, in the event of a piracy attack, essential communications on board the vessel can be maintained and used for alerting authorities.

Beam receives a $5 M commitment from Telstra for Satellite Docking Stations and Iridium Handsets. Beam Communications Pty Ltd, a wholly owned subsidiary of World Reach Limited (ASX: WRR), announces it has received a commitment from Telstra to purchase a minimum of USD5.1 M of Iridium based satellite docking stations and product bundles over the next 12 months. The initial shipment (valued at USD1.65 M) is expected to be fulfilled by 30 June 2012, the balance being called upon as required over the 12 month period.