Royal Caribbean To Offer 10 Million New Shares
Royal Caribbean Cruises Ltd. (RCCL) reportedly plans to market a proposed public offering of 10 million new shares of common stock. RCCL officials said the company will use the net proceeds of the offering for general corporate purposes, including capital expenditure. The offering will be made to investors in Europe and the United States.
Dockwise Results, Q4 & Full Year 2009
VT Acquires Merlin Communications
Vosper Thornycroft (VT) announces that it has agreed to acquire Merlin for approximately $136 million USD ($94 million GBP). Merlin’s principal business is the facilities management of communications operations, primarily for the BBC in relation to the BBC World Service and for the Ministry of Defense (MOD). It also operates a global short wave and medium wave transmission network. Merlin will complement and extend VT’s existing skills and experience in the provision of technical services and is and important step towards VT’s target to more than double turnover from its support services business over the next 3 financial years. For the year ended March 31, 2001, Merlin reported operating profit, excluding a business to be discontinued, of $7.2 million on turnover of $74.6 million.
Fincantieri Half-year 2013 Growth Due to Vard Acquisition
The Finacantieri Group reports being in a phase of strong growth thanks to the acquisition of Vard, & triples its first-half 2013 operating result compared to last year. The first half of 2013 reports an EBIT of euro 101 million (euro 34 million at 30.06.2012), an EBITDA of euro 137 million (euro 68 million at 30.06.2012) and revenues of euro 1,934 million (euro 1,233 million at 30.06.2012). These positive operating results have been obtained in a market environment that remains challenging despite some initial signs of recovery…
Stelmar Eyes Cyprus Bourse
Tanker firm Stelmar Marine Holdings Ltd. officially applied on Wednesday for listing on the Cyprus Stock Exchange. The company was established in 1992 by Greek Cypriot entrepreneur Stelios Haji Ioannou and owns and operates a fleet of 12 tankers with an average age of eight years. The company is planning to raise $54.6 million through the Cyprus Stock Exchange for further expansion of the fleet. The amount will be raised through the issue of 42 million new shares of face value $1 at the flotation price of $1.30, the company said. Approximately 27 million shares will be placed with private investors and 15 million will be offered to the public.
SAIT-Stento To Issue 1.2M New Shares
Communications services group SAIT-Stento will issue 1.2 million new shares at a maximum price of 32 euros each to make its stock more liquid and raise money for future acquisitions. SAIT-Stento, recently formed through the merger of Belgian communications services group Sait-RadioHolland and Norwegian telecommunications equipment maker Stento SAS, also said it expects to break even or even post better results in 2000. Revenues for the combined company should rise above year-ago levels on a pro-forma basis, it added. The merger partners posted combined revenues of 396 million euros in 1999. SAIT-Stento will offer to sell 70 percent of the 1.2 million shares to existing shareholders and the remaining 30 to the public. SAIT-Stento reportedly plans to change its name in the next few months.
Star To Raise Funds Via Shares Issue
Malaysia's Star Cruises said it was seeking to issue 200 million new shares to finance its acquisition of the Norwegian shipping group NCL Holding ASA. The issue of new shares, pending approval from Star's shareholders, represented 32 percent of the company's existing share capital, it said. Star had also arranged a five-year medium loan of $600 million, which would also go to financing the NCL acquisition and Star's future expansions, it said. The new issues may be in the form of new ordinary shares of Star Cruises or equity-linked securities and would be issued over a period of time, the company said.
Hill International Gets Casablanca Marina Construction Contract
Hill International (NYSE:HIL), the global leader in managing construction risk, announce that it has been awarded contracts to provide project management services for three projects in North Africa. A four-year contract has been awarded the company by Société New Marina Casablanca Groupe CDG to provide project controls services in connection with the construction of the $590 million New Casablanca Marina in Casablanca, Morocco, a project that includes high-end residential, hotel, leisure, commercial, retail and maritime facilities. Hill International, with 3,200 employees in 110 offices worldwide, provides program management, project management, construction management and construction claims and consulting services.
Cochin Shipyard's $231 Mln IPO Subscribed Over 76 Times
Cochin Shipyard Ltd's initial public offering, which aims to raise up to 14.68 billion rupees ($231 million), was subscribed more than 76 times on the last day of the sale on Thursday, indicating strong interest in the state-run shipbuilder. Investors bid for about 2.59 billion shares, compared with nearly 34 million shares on offer, data from stock exchanges showed as of 0130 GMT. The company, which also repairs ships, was selling about 22.7 million new shares in the price range of 424 rupees to 432 rupees apiece, while the Indian government was selling about 11.3 million shares in the company. SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the lead banks managing the IPO. The stock is set to make its trading debut on or around Aug. 11.
Thrane & Thrane Buys Nera's Satellite Units
Danish satellite communication equipment maker Thrane & Thrane said on Monday it bought the satellite units of Norwegian Nera for around half a billion Danish crowns ($61.5 million), sending its shares to a four-month high. For the two units Nera SatCom and Nera WBA Satellite, Thrane & Thrane will pay 235 million crowns in cash and around three million new shares corresponding to around 40 percent of Thrane's total capital after a share capital increase. "The intention is to create a leading manufacturer within satellite ground equipment with the strength to participate in both the mobile and the broadband market segments," Thrane said in a statement.
NCL Board Seeks New Share Issue
NCL Holding's board is seeking a mandate to issue 120 million new shares at a price of at least 35 crowns ($4.39) per share. Singapore-listed Star Cruises, which owns fractionally short of 50 percent of NCL, is offering 35 crowns per share in a takeover offer valuing NCL at about $1.1 billion. Company officials said the proposal for the possible share issue was made by shareholders other than Star. NCL has 263 million shares and the issue of 120 million extra shares could dilute Star's grip. However, analysts say that Star's voting power of almost 50 percent should be enough to block any share mandate for the board at the shareholders' meeting on February 2.
Keppel's Philippine Units Complete Consolidation
Philippine units of Keppel Corporation have reportedly completed the restructuring of their operations, which called for a consolidation of Keppel's domestic marine interests into Keppel Philippines Marine Inc. (KPMI), and a consolidation of Keppel's property interests in the Philippines into Keppel Philippine Properties Inc (KPPI). Under the restructuring, KPPI transferred all its marine interests to KPMI, including 62.5 million shares in Subic Shipyard and Engineering Inc. and 656,838 shares in Consort Land Inc., which manages the shipyard's lot, in exchange for 100.5 million new KPMI shares. KPPI also transferred all of its 159.2 million shares in KPMI to Keppel Philippines Holdings Inc (KPHI). KPMI is now 55 percent owned by KPHI and the rest by the investing public.
SFL, Frontline Complete Long-term Charter Agreement
On May 29, 2015, Ship Finance International Limited (SFL) entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd. The agreement is now completed, and Frontline has issued and delivered 55 million new shares to Ship Finance. The shares represent approximately 28 percent of the total number of issued and outstanding shares of Frontline. The Frontline shares are listed in New York and Oslo, and Frontline has agreed to register the new shares for resale with the US Securities and Exchange Commission and the Norwegian Financial Supervisory Authority, respectively. The new shares will then be freely tradable for Ship Finance, and may be sold or distributed to the Company's shareholders at a later stage.
Ship Finance International 4Q Dividend
Ship Finance International Limited (NYSE: SFL) refers to the announcement of the fourth quarter 2008 dividend payable in cash or, at the shareholders request, in newly issued common shares on or about April 17, 2009. Shareholders beneficially owning approximately 55% of our outstanding shares have elected to receive 0.0528 common shares for each share held, and approximately 2.1 million new common shares will be issued as a result of such elections. The remaining shareholders will receive a cash dividend payment of $0.30 per share. Following this dividend payment, the total number of the Company's outstanding common shares will be approximately 74.8 million.
Dockwise Acquires Offshore Kinematics
Sealift Ltd, the parent company of the Dockwise group of companies has signed an agreement to acquire the entire share capital of Offshore Kinematics Inc (OKI) and Ocean Dynamics LLC (ODL). As consideration for the acquisition, the company has agreed to issue 6.9 million new shares, of which 3.2 million will be held in escrow and released in annual installments over 3 years, plus $15.7m in cash to the current principals of OKI and ODL. The company expects revenue synergies and growth potential for the Dockwise Group from these acquisitions. This combination enhances the Dockwise Group position as a leading integrated transport and installation service provider for the Oil and Gas sector, in particular through float overs.
Lamprell Wins US$ 227 Million Contract for Jackup Rig
Lamprell, a leading provider of diversified engineering and contracting products and services to the onshore and offshore oil & gas and renewables industry, announce that it has received a US$ 227 million new contract award from an international drilling contractor for the construction of a jackup rig. The contract is for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E (Enhanced) Class design, valued at US$ 227 million. The rig is designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet. Fabrication will take place at Lamprell’s Hamriyah yard. The project is planned to be completed in Q4 2014.
Offshore Rig Accommodation: Floatel Share Offering
Floatel International Ltd is contemplating issuance of approximately USD 150 million new shares on the Oslo stock market. The company says its share placement will further strengthen their position as a leading provider of high-specification, modern accommodation vessels to the offshore oil and gas industry. The proceeds from the Private Placement will be used to finance the Company’s new build program for accommodation vessels at Keppel FELS Shipyard, growth capex and for general corporate purposes. The Company has retained Fearnley Securities and Pareto Securities as joint lead managers and joint book-runners in connection with the Private Placement. ABN-Amro and SEB Enskilda have been appointed as co-managers.
DryShips Buys First Very Large Gas Carrier
DryShips Inc., a diversified owner of ocean group cargo vessels, announced that it has acquired one Very Large Gas Carrier (VLGC) currently under construction at Hyundai Heavy Industries (HHI) for a purchase price of $83.5 million. The Company financed the closing price of $21.9 million by using part its undrawn liquidity under the $200.0 million New Sifnos Revolver, which now stands at $142.9 million. The $61.6 million balance of the purchase price for the VLGC will be payable in installments until the vessel's delivery from HHI.
Seabulk International Reports 3Q Results
Seabulk International, Inc. reported a net loss, excluding charges related to its recent refinancing, of $2.8 million or $0.21 per diluted share for the quarter ended September 30, 2002. Including charges of $27.8 million or $2.16 per diluted share related to the early extinguishment of debt in connection with the company's refinancing, the net loss for the current period was $30.6 million or $2.37 per diluted share compared to net income of $2.9 million or $0.27 per diluted share in the year- earlier period. Revenues were $80.4 million in the current quarter compared to $89.7 million a year ago, due primarily to reduced demand and lower day rates for the Company's offshore vessels in the important Gulf of Mexico market.
MSC Delivers Rowboat for Global HIV Testing Campaign
The Goree Challenge is a 5,000 mile solo transatlantic row from the Canary Islands to New York. Kingsborough Community College is providing technical assistance for the ocean rowboat, christened The Spirit of Malabo. The Spirit of Malabo, a 24-foot ocean rowboat, arrived at Kingsborough Community College, of the City University of New York (CUNY) on Thursday from Brazil. The Spirit of Malabo will be used for a 5,000 mile solo transatlantic row from the Canary Islands to New York's Brooklyn Bridge, with a re-supply in the British Virgin Islands later this year.
Bintulu Port Holdings To Offer New Shares
Malaysia's Bintulu Port Holdings, which runs the nation's largest LNG port, plans to offer 100 million new shares to raise at least 400 million ringgit ($105.2 million) under its IPO. It was reported that 40 million of the shares will be offered to the public and 60 million will be placed with private investors who will include foreigners. The managing underwriter for Bintulu Port's listing, Commerce International Merchant Bankers (CIMB), is confident its IPO will be well received by investors. "The port itself is an attractive investment proposition," said a CIMB official. Bintulu port handled 23.6 million tons of cargo from the time it began operations in 1993 until last year. Of this amount, LNG accounted for 64 percent of its total throughput handled and 81.5 percent of total revenue.
Private Equity Boost for Hyundai Samho
South Korea’s Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), said it has attracted 300 billion ($264 million) won investment via pre-IPO. Under the agreement signed with Korean private equity firm IMM Private Equity, HSHI will issue 5.36 million new convertible preferred shares and IMM PE will pay 300 billion won ($264 million) in total to acquire the shares at 56,000 won per share. The deal brings HSHI’s total market value at 2.5 trillion won ($2.2 billion). HSHI said it plans to finalize the approval of the deal early June this year through the meeting of board of directors, and to use the investment to lower its debt-to-equity ratio to 78.1 percent from current 96.4 percent.
Teekay Sells Offshore Unit
(NYSE: TK) announced today that it has agreed to sell its remaining 49 percent interest in Teekay Offshore Operating L.P. (OPCO) to Teekay Offshore Partners L.P. (Teekay Offshore) for a total price of $390 million. OPCO currently operates a fleet of 33 shuttle tankers (including five chartered-in vessels), four Floating Storage and Offtake (FSO) units, nine double-hull conventional oil tankers and two lightering vessels. Upon the completion of this transaction, Teekay Offshore will own 100 percent of OPCO. As consideration, Teekay will receive $175 million in cash and approximately 7.6 million new common units of Teekay Offshore plus the 2 percent general partner interest associated with the new common units to be issued.