Search results for: Recapitalization

107 results

A list of search results

  • 30 September 2011
    Business & Finance

      Teekay Corporation (Teekay or the Company) today announced that it has reached an agreement in principle to acquire three floating production storage and offloading (FPSO) units from Sevan Marine ASA (Sevan), a Norway-based developer, owner and operator of FPSO units, and acquire an equity interest in a recapitalized Sevan. Under the terms of the […]

  • 2 November 2015
    Business & Finance

    The financially-troubled dry bulk specialist Mercator Lines (Singapore) Limited booked USD 11.9 million loss for the quarter ended September 30, an 89% deterioration compared to USD 6.3 million net loss recorded in the same period a year earlier. The company’s revenue decreased by 40%, from USD 14.3 million posted in 2Q2014, to USD 8.7 million […]

  • 21 October 2019

    U.S. LNG operator Dominion Energy has entered into an agreement with Brookfield Super-Core Infrastructure Partners to sell a 25 percent non-controlling equity interest in Cove Point to Brookfield for just over $2 billion.

  • 15 March 2017
    Business & Finance

    A consortium spearheaded by South Korea’s Samra Midas Group (SM Group) has been selected as the preferred bidder for compatriot STX Corporation which was put on sale by its creditors.  As disclosed in a listing to Korea Exchange, the company is to revert in three months on whether the two parties agreed on the details […]

  • 7 February 2018
    Business & Finance

    Rock Hill Capital Group has completed a majority recapitalization of LeBlanc Marine LLC, a marine service company providing marine construction, barge and tug services, and material offloading services along the Gulf Coast. “Ben and Cody have built a robust platform to provide marine construction and ancillary services along the Gulf Coast. The LeBlanc team is highly […]

  • 1 August 2017

    Offshore vessel owner Tidewater has emerged from bankruptcy after completing its reorganization.  Through its reorganization plan, Tidewater eliminated approximately $1.6 billion in principal of outstanding debt, and considering the rejection of certain sale-leaseback agreements, Tidewater estimates that interest and operating lease expenses will be reduced by approximately $73 million annually. “The company believes that its […]

  • 15 December 2017
    Business & Finance

    Yang Ming Marine Transport Corporation (Yang Ming) has unveiled its plans to expand throughout Asia.

  • 7 September 2012

    The Navy formalized key ship specifications for both the United States’ Ohio Replacement and United Kingdom’s Successor Programs in a document signed Aug. 31 at the Washington Navy Yard. Rear Adm. Thomas J. Eccles, chief engineer and deputy commander Naval Systems Engineering Directorate, Naval Sea Systems Command (NAVSEA) and Capt. William J. Brougham, Ohio Replacement […]

  • 6 November 2014
    Business & Finance, Operations & Maintenance

    McDermott, a provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments, has cut its net loss year-over-year despite lower revenues in the same quarter last year. McDermott’s third quarter 2014 net loss was $34 million, or $0.14 per fully diluted share, compared to a net loss of $64 million, or […]

  • 6 March 2017

    Helicopter operator CHC Group has been given confirmation for its financial restructuring plan by a court. The company hopes to complete it and emerge from Chapter 11 ‘in the next few weeks.’ CHC said on Sunday that the United States Bankruptcy Court for the Northern District of Texas confirmed the company’s plan of reorganization and signed […]

  • 11 June 2018
    Business & Finance

    Chief executive of subsea service provider Bibby Offshore has decided to leave the business.

  • 13 April 2015
    Business & Finance

    Singapore-listed bulker owner Pan Ocean revealed intentions to issue new round of shares within its debt-for-equity swaps with creditors. The restructured company plans to issue another 757,844 shares at KRW 10,000 each on April 29th. The decision comes within Pan Ocean’s strategy of settling claims arising from its recent bankruptcy. “This debt-to-equity conversion is for the two kinds of creditors. […]

  • 17 July 2017
    Business & Finance

    Taiwan’s cash-strapped liner company will be issuing an additional 500 million shares of company stock in a public offering as part of its recapitalization plan. Under the plan, announced on Friday last week, the existing Yang Ming shareholders, its employees, and the general public will have an opportunity to purchase company stock. The price of the shares […]

  • 3 February 2020
    Business & Finance, Research & Development, Technology

    The Centre for Ocean Ventures and Entrepreneurship (COVE) seeks its next chief executive officer. As reported earlier, Jim Hanlon announced his intention to resign after five years as COVE president and CEO. Jim Hanlon has led COVE since the start of planning in 2015, through the successful public and private sector funding for the site […]

  • 22 July 2019
    Business & Finance

    The Port of Everett Commission has awarded a $3.37 million contract to American Construction Company for the fourth and final phase of Central Marina Improvements. This project completes the port’s six-year, $30 million re-investment into the northeast corner of the Central Docks. The work, anticipated to start in August and wrap up in spring 2020, […]

  • 17 February 2020
    Business & Finance, Research & Development

    NOAA is in the process of acquiring two new oceanographic ships as part of the agency’s fleet rebuilding effort. Once in service, the new ships will support a wide variety of missions, ranging from general oceanographic research and exploration to marine life, climate and ocean ecosystem studies. “When completed, these new state-of-the-art ships will be […]

  • 27 October 2017
    Business & Finance

    Problems keep on emerging for the financially-troubled shipbuilder Triyards Holdings Limited as suppliers take their claims over unpaid bills to court. According to the latest update from the Singapore-based company, some of its subsidiaries have received various claims from suppliers and are currently involved in on-going litigation. In addition, one of the subsidiaries of the company has […]

  • 9 August 2016
    Business & Finance

    After it earlier reached deals to sell three of its bulkers, the owner and operator of Supramax dry bulk vessels Eagle Bulk Shipping has decided to dispose of another ship for net proceeds of USD 4.2 million. The vessel in question is the 2002-built MV Kittiwake, which features 53,146 dwt. During the second quarter of the year, the […]

  • 3 February 2017
    Business & Finance

    The Canadian Department of National Defense (DND) has awarded a $55.45 million contract to Pomerleau Inc. for the demolition of the existing “B” Jetty at Her Majesty’s Canadian Dockyard Esquimalt and preparing the site for future rebuilding work. The existing jetties, “A” and “B”, were originally designed for ships that were smaller and lighter than […]

  • 19 May 2014

    Chesapeake Energy Corporation updated its currently anticipated 2014 asset sales and divestitures and the projected impact of such transactions on its 2014 Outlook on May 16. The company also introduced preliminary estimated ranges for its 2015 adjusted production growth and total capital expenditures. Chesapeake continues to divest of noncore assets in order to focus its […]

  • 14 July 2015
    Business & Finance

    Danish shipping company TORM has wrapped up its comprehensive restructuring process, recapitalizing its balance sheet, by reducing the existing debt worth up to USD 561 million. The restructuring was carried out by way of a lender debt writedown to current asset values against the issuance of warrants and a subsequent optional exchange of debt to equity. As […]

  • 8 January 2013

    The Honourable Peter MacKay, Minister of National Defence, announced three contract awards for general maintenance at 19 Wing Comox. The overall value of the contracts is approximately $1.22 million. “The Government of Canada is determined to improve infrastructure across the Canadian Armed Forces and is moving forward on these much needed projects,” said Minister MacKay. […]