Securities Exchange Commission News

Craig Perciavalle resigned as president of Austal USA on Monday amid investigations into the shipbuilder's littoral combat ship (LCS) program for the U.S. Navy.Chief financial officer Rusty Murdaugh has been named interim president of the Mobile, Ala. shipbuilder, a subsidiary of Australia-based Austal.According to Austal, the separate ongoing investigations by the U.S. Department of Justice, the Securities Exchange Commission, and the Australian Securities and Investments Commission are focused on "historical matters" before July 2016.

DryShips, a diversified owner of ocean going cargo vessels, announced that its wholly owned subsidiary, Gas Ships Limited has filed a registration statement on Form F-1 with the U.S. Securities & Exchange Commission, to spin off of its gas carrier business from the Company. In the spin-off, DryShips will distribute to holders of its common stock 49% of the issued and outstanding shares of Gas Ships Limited's common stock. Following the spin-off, Gas Ships Limited will be a publicly-traded company, and DryShips will retain a 51% ownership interest in Gas Ships Limited. George Economou, the Company's Chairman and Chief Executive Officer…

Diana Containerships, a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments, an entity organized in the British Virgin Islands (Kalani) that is not affiliated with the Company, for the sale of 3,000 newly-designated Series B-1 Convertible Preferred Shares, preferred warrants to purchase 6,500 Series B-1 Convertible Preferred Shares and preferred warrants to purchase 140,500 newly-designated Series B-2 Convertible Preferred Shares. The B-1 Convertible Preferred Shares, the Series B-1 Preferred Warrants (and the…

Greece's Nautilus Marine Acquisition Corp. (Nautilus) extends tender period referring to the acquisition of Assetplus Ltd. The tender offer, as amended, has been extended until 5:00 p.m., New York City time, on February 13, 2013, unless further extended or earlier terminated. The tender offer was previously scheduled to expire at 5:00 p.m. New York City time, on January 31, 2013. The completion of the tender offer is a condition to Nautilus' previously announced acquisition of Assetplus Limited. The extension is being made to comply with the rules and procedure requirements of the Securities Exchange Commission. Except for such extension, all of the terms and conditions set forth in the tender offer materials filed with the U.S.

Nautilus Marine Acquisition Corp. extends its tender offer for Assetplus Ltd. until end of January 2013. The completion of the tender offer is a condition to Nautilus' previously announced acquisition of Assetplus Limited. The extension is being made to comply with the rules and procedure requirements of the Securities Exchange Commission. Except for such extension, all of the terms and conditions set forth in the tender offer materials filed with the U.S. Securities and Exchange Commission on December 7, 2012, as amended, remain unchanged. Shareholders who support the Company's business transaction with Assetplus should not tender their common shares in the tender offer…

China's Rongsheng Heavy Industries' shares tumbled after US Securities & Exchange Commission accusation Shares of China Rongsheng Heavy Industries tumbled 17 percent to a record low yesterday after its chairman Zhang Zhirong was accused of insider trading by the US Securities and Exchange Commission, reports the 'Hong Kong Standard'. The SEC accused Hong Kong-based Well Advantage - solely owned by Zhang - of trading illegally before an announcement by CNOOC (0883) that it would buy Nexen for US$15.1-billion (HK$117.78-billion). In related news Rongsheng said it expects net profits in the first half to have fallen sharply due to a declining industry. Analysts expect whole-year profits to slide by 25-30 percent from 2011.

Friede Goldman Halter Inc., said on Wednesday it had not filed for bankruptcy protection and was seeking alternatives. The company's shares plummeted on Tuesday in response to investor concerns about the company's financial fitness. The shares had not recovered by late afternoon Wednesday trading on the New York Stock Exchange, a day after the company canceled a scheduled conference call with investors. The shares hit a new 52-week low of $.52 before crawling back to last trade at $.83, off 7.7 percent. An official statement released by the company said, "At this time, the company does not believe a filing is in the best interest of (its) creditors, shareholders, employees, or customers.

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

GulfMark Offshore, Inc. (Nasdaq:GMRK) announced it has filed a $250 million shelf registration statement on Form S-3 with the Securities & Exchange Commission to register the offer and sale by the Company from time to time of up to $250 million of various securities, which may include common stock, warrants, debt securities, and or preferred stock. "We have no immediate plans to offer any of the securities for sale, but believe it is prudent to have registered securities available to fund future opportunities," said president and chief operating officer, Bruce Streeter. He added that the new shelf registration statement replaces the one filed in 2000 that expired. GulfMark Offshore, Inc.