Search results for: Recapitalization

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A list of search results

  • 12 November 2012
    Business & Finance

    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 […]

  • 13 February 2012

    The U.S. Coast Guard took delivery of its first fast response cutter, the Bernard C. Webber, on Friday in Miami. Webber, built by Bollinger Shipyards Inc , 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 […]

  • 18 January 2011

    L.W. Matteson, Inc., a dredging and marine construction company, has been acquired by Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States. McGladrey Capital Markets initiated the transaction, led the negotiations, and acted as the exclusive financial advisor to L.W. Matteson. The acquisition was funded with $37.5 million […]

  • 12 November 2012
    Business & Finance

    Teekay Offshore Partners (Teekay Offshore or the Partnership) 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 […]

  • 26 July 2017

    Seadrill, a cash-strapped offshore driller, has been given some breathing space in an effort to restructure its reported $14 billion debt. The company, which has been in talks with creditors for months, on Wednesday said it had reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until September 12, […]

  • 6 March 2017
    Business & Finance

    Canadian energy company Sterling Resources is selling its UK operating subsidiary to a Dutch exploration and production company, Oranje-Nassau Energie B.V. (ONE), for $113 million.  Sterling Resources announced on Friday that, together with its wholly‐owned subsidiary SRUK Holdings Ltd., it has entered into a definitive agreement with Oranje‐Nassau pursuant to which ONE has agreed to acquire from SRUK Holdings the entire […]

  • 6 September 2011
    Business & Finance

    DeepFlex, Inc., the world’s only manufacturer of premium all-composite flexible pipe used in challenging subsea oil and gas production environments, announced today that it has closed a significant funding agreement and completed a recapitalization to simplify its capital structure. AEM Capital of Rio de Janeiro, Brazil is the lead investor, with funding also provided by […]

  • 16 August 2011

    The U.S. Coast Guard announced yesterday that its third National Security Cutter, Stratton build by Huntington Ingalls, successfully completed several days of rigorous acceptance trials to ensure the cutter meets its contractual requirements and is ready for delivery to the Coast Guard. Stratton’s acceptance trials were conducted in Pascagoula, Miss., and at sea in the […]

  • 6 September 2011
    Business & Finance, Operations & Maintenance

      DeepFlex, Inc., the world’s only manufacturer of premium all-composite flexible pipe used in challenging subsea oil and gas production environments, announced today that it has closed a significant funding agreement and completed a recapitalization to simplify its capital structure. AEM Capital of Rio de Janeiro, Brazil is the lead investor, with funding also provided […]

  • 17 June 2013
    Business & Finance

    U.S. Senators Thad Cochran (R-Miss.) and Roger Wicker (R-Miss.), along with Representative Steven Palazzo (R-Miss.), recently welcomed a $76.8 million U.S. Coast Guard contract award to begin procurement of a seventh National Security Cutter (NSC). The U.S. Coast Guard has exercised an option to an existing contract with Huntington Ingalls Industries to procure long lead […]

  • 15 May 2019
    Exploration & Production

    Cash-strapped liftboat specialist Ezion Holdings reported a net loss for the first quarter of $12.8 million on the back of lower revenue. The company’s revenue for the quarter was $28 million, down from $37 million in the corresponding quarter a year ago.

  • 24 May 2017
    Business & Finance, Exploration & Production

    Offshore driller Seadrill has said it has made progress with its restructuring plans which may involve Chapter 11 solution. In April, the company reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until July 31, 2017, reflecting significant progress on the terms of such restructuring made with the bank group, […]

  • 6 December 2011
    Business & Finance

    Ship Finance International Limited, today announced that it has agreed, subject to final board and bank financing approvals, to amend the terms of the long-term chartering agreements with Frontline Ltd. This will happen concurrently with a proposed recapitalization of Frontline, where some of their assets will be sold and a significant capital commitment relating to […]

  • 18 March 2013
    Business & Finance

    Meeting during a time when some are calling for sharp cuts in government spending despite the obvious needs to the nation’s infrastructure, members of the MTD Executive Board pledged to work to gain proper funding of vitally important maritime programs. As the board noted in several statements during its 2013 winter meeting in Buena Vista, […]

  • 6 July 2017

    Two Vietnamese sailors who were kidnapped for ransom in November last year were found dead, the Armed Forces of the Philippines (AFP) informed. The bodies of the two decapitated seafarers, identified as Hoang Thong and Hoang Va Hai, were found in Barangay Tumahubong in Sumisip town on Wednesday, according to AFP. Six crew members of the […]

  • 12 December 2017

    The captain of the Vietnamese-flagged bulk carrier Royal 16, kidnapped by pirates over a year ago, was found dead.

  • 21 August 2017

    The Philippine military has rescued a Vietnamese sailor kidnapped from the bulk carrier Royal 16, together with five more men in a November-hijacking off Basilan waters by the Philippines Abu Sayyaf Group (ASG) terrorists.  After over nine months in captivity, the hostage managed to flee the militant group and was rescued by the Philippine troops on Monday […]

  • 15 April 2011

      GE Capital, Corporate Finance today announced it is co-administrative agent on a $145 million cash flow-based credit facility for Vigor Industrial LLC, a ship building and repair company. The loan is being used to support the acquisition of Todd Shipyards Corporation, a ship repair and maintenance company. GE Capital Markets served as co-lead arranger. […]

  • 2 May 2018

    ReCAAP warns of crew abduction threat posed by members of Abu Sayyaf in Malaysia.