Marine link
 

DEFINITIVE

DryShips Ocean Rig Employment Updates

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, has announced that Ocean Rig as signed definitive documentation with Total E&P Angola, following the previously announced Letter of Award, for its ultra deepwater drillship "Ocean Rig Skyros." The contract is for five wells or a minimum of 275 days for drilling offshore West Africa, with an estimated backlog of approximately $190 million, and is expected to commence upon delivery of the drillship from the shipyard, in October 2013. The company said it has also received a Letter of Award for its ultra deepwater drillship "Ocean Rig Skyros," from a major oil company for a six-year contract for drilling offshore West Africa, with an estimated backlog of approximately $1.3 billion. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence in direct continuation of the previous contract before the first quarter of 2015. As a result of this LOA, as of today, Ocean Rig's total contracted backlog (including LOAs) stands at about $6.1 billion, primarily with investment grade or strong counterparties, the company said.


Tidewater Signs Agreement Of Intent

Tidewater, Inc. has signed an agreement of intent to acquire six newbuild vessels from Hvide Marine Incorporated, for an aggregate price of $22 million. Closing, which is expected sometime during July 1999, is subject to customary due diligence matters, including executing a definitive agreement and satisfactory inspections of the vessels by Tidewater.


Genco Shipping & Trading Time Charter

Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to sign a time charter for the Genco Predator, a 2005-built Supramax vessel, with Pacific Basin Chartering Ltd. for approximately 11 to 13.5 months at a rate of $22,500 per day, less a 5% third-party brokerage commission. The time charter is expected to commence on or about May 7, 2010 and is subject to the completion of definitive documentation


Genmar Sells Hatteras Yachts to Brunswick

Genmar Holdings, Inc. announces that it has signed a definitive agreement to sell Hatteras Yachts, Inc. to Brunswick Corporation for approximately $80 million in cash. The agreement contains provisions allowing for an additional payment of up to $20 million based on Hatteras achieving certain financial targets over the next 20 months. Consistent with its June 27, 2001announcement, Genmar's Board of Directors considered all appropriate alternatives with respect to Hatteras and concluded a


Scorpio Sells Seven Tankers in Construction

Scorpio Tankers Inc. today announced that it has entered into an agreement whereby the company will sell its seven Very Large Crude Carriers (VLCCs) under construction for cash and record a gain of approximately $50 million. The transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close by the end March 2014. Subsequent to this transaction, the Company has 56 newbuilding product tanker orders with HMD, SPP


Ambassadors International Acquires merican West Cruises

Ambassadors International, Inc., announced that its wholly-owned subsidiary, Ambassadors Cruise Group, LLC has completed its acquisition of American West Steamboat Company LLC and related entities ("American West Cruises"), one of North America's premier river and coastal cruise companies. The signing of a definitive agreement was previously announced on December 27, 2005.


DryShips Announces Signing of Drilling Contract

DryShips Inc. (NASDAQ: DRYS) announced that its fully-owned subsidiary Ocean Rig UDW Inc has signed definitive documentation following the previously announced Letter of Award. The contract signed with Borders & Southern Petroleum plc is for a two well contract for exploration drilling offshore the Falkland Islands for a period of about 90 days, commencing in the fourth quarter of 2011, immediately after the completion of the current contract. The contract value is approximately $77m


Grandunion Signs LOI for Aries

Grandunion, Inc., a company controlled by Michael Zolotas and Nicholas Fistes, announced that it has entered into a letter of intent with Aries Maritime Transport Limited (NASDAQ:RAMS) that contemplates, among other things, the acquisition of three Capesize drybulk carriers with an approximate net asset value of $36m in exchange for 15,977,778 newly issued shares of Aries, and a change of control of the company's Board of Directors.


Ocean Rig Announces Financing, Contract Developments

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, has announced:   $1.35 billion Bank Facility The Company announced that it has received firm commitments from lenders for a $1.35 billion syndicated secured term loan to partially finance the construction costs of the Ocean Rig Mylos, the Ocean Rig Skyros and the Ocean Rig Athena. This facility has a 5 year term, and approximately an 11 year repayment profile


FastShip Signs With NASSCO For Construction Of Fleet

FastShip has signed a Memorandum of Understanding with National Steel and Shipbuilding Company (NASSCO), a subsidiary of General Dynamics, for the building of the first generation high-speed vessels comprised of the FastShip trans-Atlantic transportation fleet. Under the proposed agreement, NASSCO, designer and builder of new ships headquartered in San Diego, will construct four revolutionary vessels in the FastShip fleet


USCG Provides SAR Planning Support to Korea

The crews of the Coast Guard Cutter Alex Haley and Republic of Korea vessel Sam-Bong conduct a search in the Bering Sea near Chukotka, Russia, as a Republic of Korea Navy P-3 Orion airplane flies overhead

  Coast Guard search and rescue crews were relieved by Republic of Korea assets on Saturday in their search for 26 crewmembers from the fishing vessel 501 Oryong that capsized Nov. 30, 2014, near Chukotka, Russia, in the Bering Sea.


ICS Publishes Chemical Tanker Safety Guide

ICS Secretary General, Peter Hinchliffe

A fully updated edition of the definitive industry guidance on the safe operation of chemical tankers has just been published by the shipping industry’s global trade association, the International Chamber of Shipping (ICS).   The new edition of the ICS Tanker Safety Guide (Chemicals)


New Prospects Identified Offshore Ireland

Results of maturity modelling suggest that the Upper Jurassic source horizon in the Porcupine Basin has generated large quantities of mobile hydrocarbons, and it is still generating today. Source PADTernan

Europa Oil & Gas (Holdings) plc updates shareholders with respect to its FEL 2/13 and FEL 3/13 licenses in the South Porcupine Basin, offshore Ireland.   Europa has now received a new prospect inventory from the operator of the licenses, Kosmos Energy Ltd


Zargon Oil & Gas Sells Hamilton Lake Assets

The Hamilton Lake property is a 47 section wholly owned Viking unit in east-central Alberta. This property has already recovered about 16 million barrels of oil reserves, which represents only a 10 percent recovery of the o

  Zargon Oil & Gas Ltd. announces that it has entered into a definitive purchase and sale agreement to sell its Hamilton Lake property for $25 million. Property Disposition Zargon has entered into an agreement to sell its petroleum and natural gas assets in Hamilton Lake for a


Norwegian Buys Ship from Princess Cruises

Ocean Princess (Photo: Princess Cruises)

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd. announced a definitive agreement with Princess Cruises, Ltd


Dryships Achieves Refinance of 5% Convertible Notes

Photo by DryShips

  DryShips Inc. global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., off-shore contract drilling oil services, today announced the following:


Horizon Lines Terminating Puerto Rico Operations

Horizon Lines announced that it would cease providing liner service between the U.S. and Puerto Rico by the end of 2014 due to continuing losses without the prospect of future profitability. Sea-Land Service, Inc. ("Sea-Land") pioneered the marine container shipping industry and


Matson To Acquire Horizon's Alaska Operations

The transaction has the value of $0.72 Per Common Share Plus Repayment of Debt; acquisition Accretive to Matson's Earnings and Cash Flow. Separately Horizon to Sell Hawaii Operations to Pasha and Terminate Puerto Rico Operations. A Matson Investor Conference Call has been acheduled for 5:00 PM


Keppel T&T Proposes Listing of Keppel DC REIT

  Keppel Telecommunications & Transportation (Keppel T&T) has today issued a circular to Keppel T&T shareholders together with a notice of extraordinary general meeting (EGM). Approval will be sought at the EGM, which will be held on 25 November 2014


New York, London Juxtaposed by New Maritime Event

On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA), the Maritime Law Association (MLA) and the Association of Shipbrokers and Agents (ASBA)


Petrobras Signs LoI for Libra FPSO

The extension of the Libra reservoir (blue) compared to Rio de Janeiro

  Libra Consortium has signed a letter of intent with Odebrecht/Teekay (OOG-Teekay), winner of a tender process, for the charter of a FPSO-type platform (floating production, storage and offloading) designed for the extended well test campaign of Libra, in the Santos Basin pre-salt deposits


USS Princeton Wins CNRSW 'Good Neighbor' Award

Officers and crew of guided missile cruiser USS Princeton (CG 59) bestowed with the 2014 Navy Region Southwest Project Good Neighbor flagship award

  The officers and crew of guided missile cruiser USS Princeton (CG 59) were named as the recipients of the 2014 Navy Region Southwest "Project Good Neighbor" flagship award for medium-sized sea duty commands, Sept. 29. Princeton was one of eight Navy Region Southwest units


Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Photo: Odfjell

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced that the transaction with Breakwater Capital and Oak Hill Advisors, L.P. has been closed.


Star Bulk Takes Delivery of M/V Leviathan

star bulk.jpg

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that on September 19, 2014 it has taken delivery of M/V Leviathan, a 182,000 dwt Capesize built by Japan Marine United (JMU).


Joe Barton: Lift Oil Export Ban

A senior U.S. Congressman from Texas has come out in full support of the United States lifting the 40-year old ban on crude oil exports, putting him at odds with fellow House Republicans wary of weighing in on the controversial issue. Rep






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright