Search results for: Recapitalization

107 results

A list of search results

  • 31 March 2016
    Business & Finance

    Marshall Islands-registered owner of Supramax dry bulk vessels Eagle Bulk Shipping has reached an agreement with its lenders and holders of approximately 75% of the company’s outstanding equity for a comprehensive balance-sheet recapitalization. The deal comes after a number of delays and extensions of the forbearance period on its loan which was due to be paid in […]

  • 24 August 2017
    Business & Finance, Exploration & Production

    Offshore driller Seadrill saw its share prices touch an all time low following the release of the company’s second quarter report. The shares fell below NOK 2,00 on Thursday morning, with some trades made at below 1,79 NOK a share, a giant drop from the 2013 heydays when the share was at an all time […]

  • 16 December 2016

    Ezra Holdings, a Singapore conglomerate and a parent to offshore services provider EMAS AMC, is under pressure after its subsidiary failed to pay charter fees for some of its vessels. EMAS AMC has informed Forland Subsea it won’t be able to pay charter hire for Forland’s Lewek Inspector vessel for October 2016. Actually, the company […]

  • 28 March 2013

    The Navy announced yesterday that USS Abraham Lincoln (CVN 72) is moving to Drydock 11 at Huntington Ingalls’ Newport News Shipbuilding (HII-NNS) to begin the final stages of preparation for her Refueling and Complex Overhaul (RCOH). The Navy funded the transit using previously awarded advance planning funding, which was provided to HII in February. The […]

  • 30 January 2017
    Business & Finance

    Pacific Exploration & Production Corp. has appointed Barry Larson as its new Chief Executive Officer, effective February 20, 2017. The company said on Monday that Larson would be based at the company’s operating headquarters in Bogotá, Colombia. Jim Latimer, the current interim CEO will continue to operate in the role until the effective date of […]

  • 13 November 2019
    Business & Finance

    Western Dredging Association (WEDA) Gulf Coast Chapter 2019 Conference kicked off yesterday in San Luis Resort, Spa & Conference Center in Galveston, Texas. Dredging is vital to the Texas coast and ports, and as a Galveston based dredging company, Callan Marine is excited to welcome all the participants and sponsors to this important annual dredging […]

  • 3 January 2018
    Business & Finance

    CEO of Nordic American Tankers expects 2018 to be a better year for the company than 2017.

  • 3 November 2010
    Business & Finance

    Seahawk Drilling, Inc. announced that its Board of Directors has initiated a process to explore and consider possible strategic alternatives for enhancing shareholder value. These alternatives could include, but are not limited to, transactions involving a sale of assets, a recapitalization, or a sale or merger of Seahawk. The Board of Directors and its Finance […]

  • 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 […]

  • 23 October 2017
    Business & Finance

    Offshore vessel owner Hartmann Offshore has sold its entire fleet of anchor handling tug and supply (AHTS) vessels to Breakwater Capital. The vessel owning company is the offshore activities department within the Germany-based Hartmann Group. The company said last week that it agreed recapitalization of an 11-strong AHTS fleet through a partnership and long-term investment […]

  • 6 May 2016

    Offshore drilling contractor Hercules Offshore, which in November last year emerged from Chapter 11 bankruptcy, posted a net loss for the quarter as well as lower revenues.  The drilling contractor reported a net loss of $26.9 million, on revenue of $50.9 million for the first quarter 2016, compared to Predecessor net loss of $57.1 million, on […]

  • 5 June 2012

    The Richard Etheridge, the second vessel in the Coast Guard’s Sentinel-class Fast Response Cutter (FRC) recapitalization project that was built by Bollinger Shipyards, was officially delivered to the Coast Guard May 26 in Key West, Fla. after transiting from Lockport, La. Richard Etheridge will be homeported alongside the lead FRC, Coast Guard Cutter Bernard C. […]

  • 29 April 2016
    Business & Finance

    Deepwater drilling contractor Seadrill has reached an agreement with its banking group to extend its three nearest maturing borrowing facilities and amend certain covenants across its secured credit facilities, as the first phase of a broader plan to refinance and recapitalize the business. According to the company’s press release on Friday, the facility extensions relate to: […]

  • 11 May 2016
    Business & Finance

    Financially-troubled owner and operator of Supramax dry bulk vessels Eagle Bulk Shipping has sold the vessel Peregrine and entered into an agreement to sell two additional vessels, MV Harrier and MV Falcon. The sale of the three vessels will bring in a total of USD 9.2 million after brokerage commissions, the company said. The announcement was made as Eagle Bulk […]

  • 17 August 2017
    Business & Finance, Exploration & Production

    Indebted offshore driller Seadrill Limited has made changes to its credit facilities to insulate Seadrill Partners, a limited liability company formed by Seadrill Limited to own drilling rigs, from its restructuring. Seadrill Limited informed on Thursday it has completed amendments to three secured credit facilities that relate to rigs bought by Seadrill Partners from the company […]

  • 14 July 2017

    Tidewater, one of the world’s largest offshore vessel owners, has had its reorganization plan, which would eliminate $1.6 billion in debt, confirmed by the court.  According to Tidewater, the United States Bankruptcy Court for the District of Delaware has confirmed the company’s reorganization plan announced in May (https://bit.ly/2q99UnA), that, among other things, included Tidewater and some […]

  • 6 June 2012
    Business & Finance

    The Richard Etheridge, the second vessel in the Coast Guard’s Sentinel-class Fast Response Cutter (FRC) recapitalization project that was built by Bollinger Shipyards, was officially delivered to the Coast Guard May 26 in Key West, Fla. after transiting from Lockport, La. Richard Etheridge will be homeported alongside the lead FRC, Coast Guard Cutter Bernard C. […]

  • 3 March 2015
    Business & Finance, Operations & Maintenance

    McDermott has reported fourth quarter 2014 net income of $8.2 million, or $0.03 per fully diluted share, compared to a net loss of $326.2 million, or $1.38 per diluted share, in the prior-year quarter. For the year ended December 31, 2014, the Company reported a net loss of $76.0 million, or $0.32 per fully diluted […]

  • 23 April 2015
    Business & Finance, Equipment, Technology

    Weeks Marine, Inc., Houma, LA, has announced the completion of two major investments that will increase the competitiveness and efficiency of the company’s dredging, sediment slurry pumping and placement capability in Coastal Louisiana and around the USA. Both cutter suction dredge EW Ellefsen and the Weeks 320 Unloader, a hopper barge unloader that pumps material from […]

  • 14 February 2012
    Business & Finance

      The U.S. Coast Guard took delivery of its first fast response cutter, the Bernard C. Webber, Friday in Miami.Webber is the first of 58 planned Sentinel Class patrol boats replacing the Coast Guard’s venerable but aging Island Class patrol boat fleet.  “Consistent with the Sentinel Class name, the cutter Webber will guard our coasts […]

  • 22 June 2020
    Business & Finance

    Oslo-listed feeder owner and operator MPC Container Ships is looking to amend the terms of its $200 million bond issue and collect fresh cash in order to mitigate the negative impact from COVID-19 on the company’s liquidity. To that end, MPC Container Ships Invest B.V., the company’s wholly-owned subsidiary, has requested Nordic Trustee AS as […]

  • 12 November 2012
    Equipment

    Teekay Offshore Partners on Friday announced that it has entered into an agreement to acquire a 2010-built HiLoad Dynamic Positioning (DP) unit from Remora AS (Remora), a Norway-based offshore marine technology company, for a total purchase price of approximately $55 million. The HiLoad DP unit is a self-propelled dynamic positioning system that attaches to and […]