Seattle-headquartered Saltchuk Holdings informed the U.S. Securities and Exchange Commission (SEC) that it has proposed to buy the Overseas Shipholding Group (OSG) shares it doesn't already own for $3 each, lifting shares of the Tampa, Fla.-based marine transportation company on Friday.As of June 29, Saltchuk beneficially owned 15.2 million (17.
Fourteen people have died as a barge sank off India's west coast after a powerful cyclone barrelled into the country, authorities said on Wednesday, while Indian navy ships and aircraft scoured waters to locate scores of other missing personnel."We can confirm that 14 bodies have been recovered from the rescue operation of barge P305" that sank off the coast of Mumbai, Mehul Karnik
Australian oil and gas company Santos has signed a contract with FPSO supplier BW Offshore for the delivery of an FPSO for the Barossa gas field, located 300 kilometers offshore Darwin in Australia. The contract is subject to Final Investment Decision (FID) by Santos and its partners, with the FID expected in the coming weeks.
Offshore drilling company Valaris, the world's largest by fleet size, has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization, and has agreed with Korea's Daewoo to delay deliveries of two newbuild drillships.
The United States has sold more than a million barrels of Iranian fuel seized under its sanctions program last year, a Department of Justice official said, as another ship with intercepted Iranian crude oil sails to a U.S. port.The seizures are part of Washington's tough economic sanctions on Tehran imposed over its nuclear program and the U.S.
Seaspan Corporation announced it has placed an order with an unnamed "major" shipyard for two 24,000 TEU containerships, marking the Hong Kong-based shipowner's first ultra large vessels.The new ships are scheduled for delivery from the first quarter of 2023 and will enter 18-year charters with a global liner customer, Seaspan said,As of September 30, 2020
Israel-based international defense electronics company Elbit Systems has signed an agreement to buy maritime defense contractor Sparton for $380 million. Elbit said Wednesday that its U.S. subsidiary Elbit Systems of America had signed a definitive agreement with an affiliate of Cerberus Capital Management, L.P. for the acquisition of Sparton. Sparton Parent, Inc.
Offshore drilling firm Pacific Drilling and certain of its subsidiaries have filed for Chapter 11 bankruptcy with the aim to eliminate $1.1 billion debt.The company, which had previously filed for Bankruptcy in 2017, said Friday that it and certain of its domestic and international subsidiaries had filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the
The United States on Monday imposed fresh Iran-related sanctions targeting the Islamic Republic's oil sector, including the Iranian Ministry of Petroleum, in Washington's latest move to increase pressure on Tehran.The U.S. Treasury Department in a statement said it was slapping sanctions on key actors in Iran's oil sector for supporting the Quds Force
British special forces stormed a Greek-operated oil tanker in the English channel on Sunday to wrestle control of the vessel from seven stowaways who had threatened the crew in a suspected hijacking.Troops from the Special Boat Service, a navy special forces unit whose headquarters in just a few miles away from where the vessel began showing signs of distress
The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Monday, according to Refinitiv Eikon data, in the most recent sign of the countries' expanding trade.The two OPEC members have increased cooperation this year by exchanging crude, fuel, food, equipment for refineries and other industrial goods.
Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, Russia’s top shipping company said on Tuesday, in a deal that could value it at roughly $10 billion according to sources.The move by the state-controlled firm comes as Russian airline Aeroflot also plans to raise capital in a secondary public offering (SPO).