Vopak and First Reserve Corporation today announced the completion of the acquisition of the Bahamas Oil Refining Company (BORCO) oil storage terminal in Freeport, Bahamas. The equity value of the new company amounted to $550 million, split 80%-20% between affiliates of First Reserve Fund XI, L.P. a
NEW YORK, May 29 /PRNewswire-FirstCall/ – Genco Shipping & Trading Limited (NYSE: GNK – News) today announced that it has reached an agreement to commence a time charter for the Genco Hadrian, a Capesize newbuilding, with Cargill International S.A. for 46 to 62 months at a rate of $65,000 per day, l
Tampa, FL – May 29, 2008 – Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), the world leader in the field of deep-ocean shipwreck exploration, today filed Admiralty Arrest Complaints in the U.S. District Court for the Middle District of Florida on two separate shipwreck sites recently discovered b
Ancona, Italy – The mast and the boom of the Wally 148 Saudade have been successfully installed and the trials of the mega yacht are scheduled to start the first week of June. The 59.5-meter (196-foot) mast by Hall Spars is built with high modulus MS40 unidirectional pre-preg carbon fiber, it carrie
Production resumed on the Statfjord A platform today, 28 May, after four days of shutdown due to an oil leak Saturday 24 May
At 00:01 GMT today, ICAP Leopard – the Farr designed 100 foot super maxi yacht owned by Mike Slade – officially began her transatlantic speed record attempt from Ambrose Light, off New York. In order to beat the current record of eight days, three hours and 29 minutes set by 246ft yacht Phocea in Ju
“Maersk is moving away from this vertical integration in order to simplify its business and make sure every business we are involved in is competitive”, told to Financial Times Maersk CEO Nils Andersen. Under the “vertical integration” policy cargo on Maersk Line ships would often go in containers m
Offshore loading will only be used for six months on the Don West and Don South West fields operator Petrofac said today as the Northern North Sea field developments were given the green light by the UK government. Petrofac has indicated that under the approved field development plan, production wil
Van Oord has been awarded a dredging and trenching project on the Yamal Peninsula in Northern Russia. The company will execute the Baydaratskaya Bay Crossing Project as a contractor for the Russian company MRTS. The final client is Gazprom. Van Oord will execute the project with the trailing suction
Raytheon Demonstrates New JSOW Seeker for Interdicting Moving Maritime Targets
CHARLOTTE, North Carolina, May 28, 2008 – Horizon Lines, Inc. (NYSE: HRZ) announced today that it has placed six employees involved in the Puerto Rico trade lane on administrative leave as a result of management’s review of issues raised by the Department of Justice investigation of pricing practice
SCOTTSDALE, Ariz. – This Friday and Saturday, General Dynamics C4 Systems will host a technical hiring event for engineers interested in working on a variety of high-tech projects including the U.S. military’s Warfighter Information Network – Tactical (WIN-T) and Joint Tactical Radio System (JTRS) p
NEW YORK, May 28 /PRNewswire-FirstCall/ — Genco Shipping & Trading Limited (NYSE: GNK) today announced the closing of a public offering of primary and secondary shares of its common stock, par value $0.01 per share (“Common Stock”). Genco sold a total of 2,702,669 shares of Common Stock and certain
Oil-fired transportation cost may put brakes on long-distance trade May 28, 2008 04:30 AM Julian Beltrame THE CANADIAN PRESS OTTAWA–The high price of energy is undercutting the advantages of globalization by raising transportation costs so much that they could force businesses to look closer to home
