Seafarers’ House to Honor Carnival's Arnold W. Donald
Arnold W. Donald, president and CEO of Carnival Corporation & PLC, has been selected as the recipient of Seafarers’ House International Golden Compass Award for 2022. The award is given each year to those who have achieved distinction in the maritime world, those whose vocation or avocation has been the sea, or those who have ministered to or otherwise assisted seafarers.Donald grew up in the Ninth Ward in New Orleans with 27 foster brothers and sister. His parents’ generosity made a significant impact on his life.
UASC to Sell Chemical Tanker Unit
United Arab Shipping Co (UASC) is considering the sale of its stake in United Arab Chemical Carriers (UACC) for oil and petrochemicals as part of its plans to merge with German container line Hapag-Lloyd, says Bloomberg. UASC hopes the sale will fetch over $600m, but deliberations are ongoing. Bank of America Corp has been tasked with finding buyers for the holding, says the report. The company held 95 percent of UACC according to the chemical shipping firm’s 2012 financial report, the most recent one available on the company’s website. No final decisions about the sale have been made, the people said. UACC, founded in 2007, is a mid-sized operator with a fleet of two dozen tankers.
Zim plans Wall Street IPO
Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported. Zim Integrated Shipping Services Ltd has hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead a New York IPO, according to two people with knowledge of the matter, says the report. The IPO is planned for the first half of 2016. The shipping company, controlled by billionaire Idan Ofer’s Kenon Holdings Ltd., is planning to list shares by the first half of next year, the people told "Bloomberg", asking not to be identified because the plans aren’t public. “Zim has been contemplating going public and other financing options since 2007,” Maor Aharoni, a spokesman for the company, was quoted saying. “This strategy has not changed.
BofA Extends Credit to Matson
Bank of America Corp. and five other lenders have approved a combined $325m credit line for Alexander & Baldwin Inc. and its subsidiary Matson Navigation. According to a Securities & Exchange Commission filing, Alexander & Baldwin's portion of the credit line is $225 million, and Matson's is $100 million. The credit lines replace a prior agreement that was due to expire in 2011. Source: Charlotte Journal of Business
