Marine Link
Thursday, June 29, 2017

DOF Subsea Shelves IPO Plans

Pic: DOF ASA

Norway's DOF Subsea has decided to hold off on launching its initial public offering (IPO), citing volatile market conditions. Company shareholders DOF ASA, with 51 percent, and a fund managed by First Reserve, with 49 percent ownership, announced in May that they were considering an opportunity for the company to apply for a listing on Oslo Stock Exchange. The shareholders have now decided to shelve these plans, instead opting to wait for market conditions to improve. “Since the review started…

Statoil Approves Dividend Of NOK 7.00 Per Share

AGM in progress

The annual general meeting of shareholders in Statoil ASA today approved a dividend of NOK 7.00 per share. The dividend accrues to the shareholders as of 14 May 2014. Statoil's shares listed on the Oslo Stock Exchange (Oslo Børs) will be traded ex-dividend as of 15 May 2014. American Depositary Shares (ADS) listed on the New York Stock Exchange will be traded ex-dividend as of 15 May 2014. The expected dividend payment for Statoil’s shares on Oslo Stock Exchange (Oslo Børs) is on 28 May 2014.

Aker Yards Successfully Listed

Aker Yards ASA was listed on the Main List of Oslo Stock Exchange as of Tuesday June 1, 2004. Aker Yards is listed under the ticker AKY. A prospectus for the listing of the Aker Yards shares has been prepared, and is available with the company and investment firms registered exchange members, including the Managers in connection with the Listing. The prospectus has been distributed to all Aker Yards shareholders, and disclosed with the Oslo Stock Exchange.

Knightsbridge, Golden Ocean Merger Completed

Image: courtesy Knightsbridge

Knightsbridge Shipping Limited has completed its previously announced merger with Golden Ocean Group Limited. In connection with the closing of the merger, Knightsbridge will change its name to Golden Ocean Group Limited. Trading in the shares of the combined company will commence on the Oslo Stock Exchange on April 1, 2015. The combined company will trade on the Oslo Stock Exchange under the ticker code "VLCCF" on April 1, 2015. Commencing on April 7, 2015, the combined company will trade on the Oslo Stock Exchange under the ticker code "GOGL".

Frontline 2012, Frontline Merger Completed

Frontline has one of the world's largest fleets of VLCC and Suezmax tankers Credit Frontline

Frontline 2012 Ltd. has completed its previously announced merger with Frontline Ltd. , with Frontline as the surviving legal entity and Frontline 2012 becoming a wholly-owned subsidiary of Frontline. The merger was consummated after close of trading on the Oslo Stock Exchange and close of the NOTC on November 30, 2015. Trading in the new shares of Frontline issued as merger consideration to former Frontline 2012 shareholders (the "Merger Shares") will commence on the Oslo Stock Exchange on December 1, 2015.

PALFINGER Makes Takeover Bid for TTS

The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA, listed on the Oslo Stock Exchange, was approved and published this morning by the Oslo Stock Exchange following a detailed review. PALFINGER aims to acquire 100 percent of the TTS shares. Apart from the necessary anti-trust approvals, the offer is also subject to the condition that at least 90 per cent of all the shares in TTS be offered to the PALFINGER Group (with PALFINGER having already secured acceptance of a total of approx. 66.3 per cent). The initial deadline for acceptance of the offer is 12 August 2016. The Board of Directors of TTS recommends that its shareholders accept PALFINGER’s offer.

Dockwise Ltd. Reports 3Q Results

DOCKWISE Ltd. (DOCK, Oslo Stock Exchange) announced its results for the first nine months of 2007, which ended on 30 September 2007. Revenues increased 13.0% to $206.0m ($182.2m YTD Q3 2006) Adjusted EBITDA increased 43.9% to $101.1m ($70.2m in YTD Q3 2006). Adjusted EBITDA margin amounted to 44.8% (38.6% in YTD Q3 2006). Total order backlog DHL projects of $224m (up 52.4% from Q2 2007). The company received full listing on the Oslo Stock Exchange as of October2, 2007. The EBITDA Q4 2007 is expected to be in line with Q3 adjusted for the impact of Yacht Express.

Statoil Initial Public Offering

Statoil's Board of Directors (OSE: STL, NYSE: STO) has decided to start a process to list its energy and retail business on the Oslo Stock Exchange. Further to the announcement made on the 3rd of February 2010, Statoil's Board of Directors has approved the proposal to create a stand-alone Energy & Retail (E&R) business through an initial public offering (IPO) on the Oslo Stock Exchange. The IPO will take place at the earliest in the fourth quarter of 2010 or at a time when the capital market is deemed favorable for such an offering. Statoil intends to remain a majority shareholder of E&R at the time of the initial public offering and listing.

Oslo Bourse Releases Halt On Aker Maritime

The Oslo bourse ended an automatic matching halt of shares in oil and gas services firm Aker Maritime on Tuesday after an investigation of a 13.4 percent rise in the share price. "The Oslo Stock Exchange has reviewed the price movements. Matching halt ends," it said after an about 30 minutes halt. It had ordered an automatic matching halt of the share to investigate a sharp 9 crowns rise to 76 in the stock price. It slipped slightly to 74.5 crowns just after automatic matching resumed.

Delisting of Ocean Rig ASA

DryShips Inc. announced that July 21 was the last day of listing of the shares of Ocean Rig ASA on the Oslo Stock Exchange and that effective July 22nd Ocean Rig ASA will be delisted from the Oslo Exchange.

DryShips Acquires More Ocean Rig Shares

DryShips Inc., has purchased 33,254,576 shares of Ocean Rig ASA an Oslo Stock Exchange listed offshore drilling services company, at a price of NOK 45 per share. Following these transactions DryShips Inc. owns 49.9% of the shares and votes in Ocean Rig ASA. As advised on December 17, 2007 Mr. George Economou, Chairman and CEO of DryShips Inc., has separately acquired approximately 4.4% of the share capital of Ocean Rig ASA. The total ownership percentage has been calculated based on an issued share capital in Ocean Rig ASA of 170,374,980 shares, as contained in Ocean Rig’s last Certificate of Registration. As a consequence of yesterday’s acquisition DryShips Inc.

StatoilHydro becomes Statoil

StatoilHydro ASA changed its name to Statoil ASA with effect from Nov. 1. The ticker symbols will remain unchanged as STL on the Oslo Stock Exchange and STO on the New York Stock Exchange.   (www.statoil.com)  

Oslo Bourse Limits Trading in Aker Maritime

The Oslo bourse suspended automatic matching in shares of Norwegian oil and gas services group Aker Maritime on March 13, saying it suspected that some investors had privileged information. "The Oslo Stock Exchange is investigating whether some participants have access to different information in relation to evaluating the value of the company's shares," a statement from the bourse said. - (Reuters)

Merger Plan Signed by Boards of Hydro and Statoil

The Board of Directors of Statoil ASA and Norsk Hydro ASA have now signed the final plan to demerge Hydro as part of the planned merger of Hydro's petroleum activities with Statoil. Hydro's shareholders will own 32.7% and Statoil's shareholders will own 67.3% of the merged company. As recompense for the transfer of Hydro's petroleum division, Hydro's shareholders will receive a 0.8622 share in the merged company for every share they own in Hydro. The reason for the merger is a mutual desire to create a globally competitive player in the petroleum industry and to be the world's biggest offshore operator. The boards have emphasized that the merger is a growth-oriented response to the challenges facing the industry…

Merger Plan Bigned Hydro, Statoil

The Board of Directors of Statoil ASA and Norsk Hydro ASA have now signed the final plan to demerge Hydro as part of the planned merger of Hydro's petroleum activities with Statoil. Hydro's shareholders will own 32.7% and Statoil's shareholders will own 67.3% of the merged company. 0.8622 share in the merged company for every share they own in Hydro. industry and to be the world's biggest offshore operator. on the Norwegian Continental Shelf. which around 5,000 will come from Hydro. The name of the merged company will from the date of merger completion be called StatoilHydro ASA. and Hydro. Commission (SEC) that contains a draft prospectus regarding the merger. via a stock market announcement on the Oslo Stock Exchange (Oslo Børs). merger plan.

Stolt-Nielsen Purchases 200,000 of Common Shares

Stolt-Nielsen announced that Stolt-Nielsen Transportation Group (SNTG), a 100% owned subsidiary of SNSA, purchased today 200,000 of SNSA Common Shares on the Oslo Stock Exchange at an average price of NOK 219.16 per share (approximately $32.76 at the current exchange rate). The shares were purchased in accordance with the repurchase program announced on August 25, 2005, authorizing Company to purchase up to $200 million worth of its Common Shares or related American Depositary Shares.

CCL: Would Seek Oslo Listing With Successful NCL Bid

Carnival Corp. would seek an additional listing on the Oslo stock exchange if it succeeded in its bid to take over Norwegian cruise firm NCL Holding ASA. Carnival last week offered 30 crowns per share for NCL in a hostile takeover bid which valued NCL at 7.15 billion crowns ($884 million).

Proposed Demerger of Aker Solutions

6 April 2011 - In accordance with the strategy previously disclosed, the Board of Directors of Aker Solutions ASA ("Aker Solutions") has resolved to propose to the shareholders of Aker Solutions that Aker Solutions is to be demerged. •    The Aker Solutions group's activities relating to its EPC Centre Houston and the union construction businesses in the United States and Canada. Upon completion of the demerger, consideration shares in Kværner will be issued to the shareholders of Aker Solutions. Each share in Aker Solutions will give the right to one consideration share in Kværner.

Seadrill Sells FPSO Crystal Sea

Seadrill Limited, the owners of the Crystal Sea, have completed a sale of the FPSO vessel to BW Offshore. The total consideration for the FPSO vessel is $80 million of which $60 million in cash and U20 million in BW Offshore shares. BW Offshore Limited is a Oslo Stock Exchange listed company.

DryShips Offers Period for Acquisition of Ocean Rig

DryShips Inc. announced that the Mandatory Offer period for the acquisition of all the outstanding shares of Ocean Rig ASA began today and the appropriate Offer Document has been filed with the Oslo Stock Exchange.  The mandatory offer period will end on 11th June, 2008. As of 14 May 2008, Primelead Limited, a wholly owned subsidiary of DryShips, Inc., owns 128,035,373 shares in Ocean Rig or 75.1% of the shares and votes in Ocean Rig ASA.

P&O To Delay ABS Stock Floatation

Peninsular & Oriental Steam Navigation Co. is indefinitely postponing the planned flotation of its Associated Bulk Carriers (ABC) unit because of stock market conditions. Shares in the business would have been listed on the Oslo Stock Exchange in an initial public offering next month, valuing it at around $187.9 million. But the group said in a statement it had decided not to go ahead with the flotation for the time being, because of market conditions in Oslo. he decision reversed P&O's plans to bring the float forward on the back of a recovery of the bulk shipping market, which has been depressed over past two to three years. ABC is one of the world's largest independently owned operators of Capesize bulk carriers and has a fleet of 22 dry cargo vessels ranging in size from 110…

Seadrill Q3 2013 Profit Slips Marginally

Drillship: Image courtesy of Seadrill

In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter. Seadrill explains that the decrease in operating profit is a result of higher operating expenses due to new rigs entering the fleet and higher general and administrative expenses due to the consolidation of Sevan Drilling.

Demerger Proposed at Aker Solutions

Photo: Aker Solutions

The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation. Aker Solutions Holding ASA - a subsidiary of Aker Solutions ASA established for the purposes of the demerger…

Maritime Reporter Magazine Cover Jun 2017 - The Annual World Yearbook

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