Marine Link
Friday, November 24, 2017

Marine Transportation Services News

MARAD Releases Guide on Research

The U.S. Maritime Administration (MARAD) released its Guide to Market Research for Marine Transportation Services. The Guide contains market research procedures for the determination of market potential for new or enhanced marine transportation services. Source: HK Law

Omega Navigation to Present at Conference

Omega Navigation Enterprises, Inc. a provider of global marine transportation services focusing on product tankers, announced that Matthew W. McCleery, a member of its Board of Directors, will be presenting at the Bear Stearns 2007 Global Transportation Conference to be held at the Bear Stearns World Headquarters in New York City on Wednesday, May 9, 2007, at 2:00 P.M. EDT.

Dry Ships Signs Agreement with DnB NOR

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 signed an agreement with DnB NOR on waiver terms for $86m of our outstanding debt. George Economou, Chairman and Chief Executive Officer, said “We are pleased to have signed the agreement with DnB NOR for this facility which covers two of our drybulk vessels. We continue to deliver on the covenant waivers and assess acquisition opportunities to further grow the company”. (www.dryships.com)

Ocean Rig UDW Letter of Award for Drilling Contract

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that its fully-owned subsidiary Ocean Rig UDW Inc. has received a Letter of Award from an American exploration company for a four well contract for exploration drilling offshore West Africa for a period of about 300 days, commencing in the first or second quarter of 2011. The contract value is approximately $135m. The contract is subject to final documentation.

Dryships Inc. Announces Management Change

DryShips Inc. (NASDAQ: DRYS) a provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of off-shore deepwater drilling services, today announced that Pankaj Khanna, Chief Operating Officer, will be stepping down from his position, effective October 2, 2012, to pursue other interests. His duties will be absorbed by the existing management team. George Economou, Chairman and Chief Executive Officer of the Company commented: “It was a pleasure working with Pankaj, and we wish him well in his future endeavors.”  

Dryships Takes Delivery of Sixth New Build Drillship

Dryships Announces Delivery of Ocean Rig's Sixth Newbuilding Drillship, the Ocean Rig Skyros. DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes and through its majority owned subsidiary, Ocean Rig UDW Inc. ("Ocean Rig"), of offshore deepwater drilling services, today announced that Ocean Rig successfully took delivery of its newbuilding drillship, the Ocean Rig Skyros, on Friday, December 20, 2013. The drillship is currently mobilizing to offshore Angola to commence drilling operations with Total.  

DryShips Suspends Market Equity Offering

Photo: DryShips

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, announced that it has suspended purchases under its previously announced program of at the market issuances of its common shares through Evercore Group L.L.C. as its sales agent. DryShips said it reserves the right to continue the suspension of the program, reactivate or terminate the program at any time. dryships.com  

DryShips Debt Agreement

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 signed an agreement with Commerzbank and West LB on waiver terms for $70 million of our outstanding debt. This agreement is subject to customary documentation. George Economou, Chairman and Chief Executive Officer, commented: "We are pleased to have reached an agreement with Commerzbank and West LB. We are now left with two facilities with aggregate outstanding debt of $117.5 million, where waiver agreements are close to finalization." (www.dryships.com)  

Dryships Annual Shareholder Meeting Set for September 13, 2011

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and offshore contract drilling oil services, announced that the Company’s 2011 Annual General Meeting of Shareholders will be held at the Company’s offices located at 80 Kifissias Avenue, 12125, Amaroussion, Athens, Greece on Tuesday, September 13, 2011 at 1:00 p.m., local time. The company’s board of directors has fixed the close of business on Friday, August 5, 2011 as the record date for the determination of the shareholders entitled to receive notice and to vote at the Annual Meeting.

DryShips Cancels Newbuild Contracts

DryShips Inc. reports cancellation of four newbuilding contracts with Jiangsu Rongsheng Heavy Industries DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargos, and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced that it has reached an agreement with Jiangsu Rongsheng Heavy Industries (RSHI), to cancel the newbuilding contracts for four ice-class panamax bulker vessels, in exchange for the refund of all installments paid to RSHI plus interest. All amounts due under this agreement have been received in full by the Dryships, the company said. dryships.com  

Omega Navigation Release of Q3 Results

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it will release its results for the third quarter ended September 30, 2009, after the close of the market on Friday, December 18, 2009. (www.omeganavigation.com)  

Omega Navigation 1Q 2007 Results

Omega Navigation Enterprises, Inc. , a provider of global marine transportation services focusing on product tankers announced its unaudited financial and operational results for the first quarter ended March 31, 2007. The Company had previously announced the declaration of its quarterly cash dividend with respect to the first quarter of 2007 of $0.50 per share payable on May 31, 2007 to stockholders of record on May 21, 2007.

Omega Navigation Amendment of Maturity Date

Athens, Greece, May 20, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities. With this agreement the new maturity date will be June 9, 2011 on both facilities, amended from the current maturity date of May 20, 2011.   Source: Omega Navigation  

Omega Declares Quarterly Cash Dividend

Omega Navigation Enterprises, Inc. a provider of global marine transportation services focusing on product tankers announced today that its Board of Directors declared a quarterly cash dividend with respect to the second quarter of 2007 of $0.50 per common share, payable August 31, 2007 to stockholders of record on August 17, 2007.

Omega Navigation Loan Amendment

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities. With this agreement the new maturity date will be May 17, 2011 on both facilities, amended from the current maturity date of May 13, 2011.   Source: http://www.omeganavigation.com

Omega Navigation Enters Loan Amendment

Athens, Greece, May 17, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities. With this agreement the new maturity date will be May 20, 2011 on both facilities, amended from the current maturity date of May 17, 2011.   Source: Omega Navigation Enterprises

Omega Navigation to Release of 2Q Results

Omega Navigation Enterprises, Inc. a provider of global marine transportation services focusing on product tankers said that it will release its results for the second quarter and six month period ended June 30, 2007 after the close of the market on Tuesday, August 28, 2007.

Omega Reports 2Q Results

Omega Navigation Enterprises, Inc., a provider of global marine transportation services focusing on product tankers, announced today its financial and operational results for the second quarter ended June 30, 2007. The company had previously announced the declaration of its quarterly cash dividend with respect to the second quarter of 2007 of $0.50 per share payable on August 31, 2007 to stockholders of record on August 17, 2007.

DryShips Inc. Announces Stock Split

DryShips Inc. (NASDAQ: DRYS), an international provider of drybulk cargo marine transportation services, announced that its Board of Directors intends to call a special meeting of shareholders to approve an amendment to the Company's Articles of Incorporation to increase the Company's authorized common stock. Upon such approval, the Board intends to conduct a 3:1 split of the Company's outstanding common stock in the form of a stock dividend. Proxy materials for the special meeting will be distributed when available.

Tsakos Orders Tankers at Sungdong

Photo: Tsakos Energy Navigation Ltd. (TEN)

South Korean shipyard Sungdong Shipbuilding & Marine Engineering Co. (Sungdong) has won an order from Greece’s Tsakos Energy Navigation (TEN) for two 74,000 deadweight tonnage (DWT) crude-oil carriers with an option for two more. TEN has already ordered three tankers from Sungdong. The total value of the contract for the four LR1 tankers could reach up to USD 170 million. Delivery of the firm ship is due in the first half of 2018. Tsakos’s commitment is a massive boost for Sungdong after a tough period of instability and restructuring where the yard skirted with closure.

MN 100: Bordelon Marine

Founded in 1979, Bordelon Marine is a leading provider of Marine Transportation services operating in the Gulf of Mexico and around the world. The company owns and operates a fleet of modern offshore supply vessels ranging in size and type from DP1 Mini-supply Vessels to MPSV 260 DP2 vessels, offering a full range of services, including construction support, exploration, production, Survey and ROV support, topside mobilization and fabrication management. Bordelon Marine offers a full range of services including: construction support…

Chuan HUP Subsidiary Sells Entire Stake In Dredging International

Marine transportation services provider, Chuan Hup Holdings Limited (“Chuan Hup” or “Group”), announced that its subsidiary, ACIS Holdings Limited (“ACIS”) has disposed of its entire 10 percent stake in Dredging International Asia Pacific Pte Ltd (“DIAP”) for S$15.2 million. Chuan Hup estimates the net profit before tax attributable to this sale to be S$5.5 million. The cash sale of 6.3 million ordinary DIAP shares, representing 10 percent of the total issued share capital of DIAP, was made to Tideway B.V. (“Tideway”) of the Netherlands. The remaining 90 percent of DIAP is owned by Pacific Dredging Corporation B.V. (“Pacific Dredging”).

Omega Navigation Announces Entering Into an Amendment of the Maturity Date

Athens, Greece, April 12, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities. With this agreement the new maturity date will be May 10, 2011 on both facilities, amended from the current maturity date of April 12, 2011. About Omega Navigation Enterprises, Inc. Omega Navigation Enterprises, Inc.

Maritime Reporter Magazine Cover Nov 2017 - The Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News