Private Equity Steers Blohm + Voss Towards Luxury Yachts

Image: Blohm + Voss Yachts

By Eyk Henning FRANKFURT--London-based private equity firm Star Capital Partners Ltd. is pursuing a deal that will allow it to turn one of the oldest German marine companies into a firm dedicated solely to building and repairing yachts for the super rich. The investor is putting Blohm + Voss's Oil Tools unit, worth more than 100 million euros ($201.8 million), up for … [Read more...]

Scorpio Tankers 30.7 Million-Share Offering Priced at 5.2% Discount

scorpio tankers

Scorpio Tankers Inc.'s (STNG) offering of 30.7 million shares priced at a 5.2% discount of Tuesday's close. The company will sell the shares at $7.50 each, below Tuesday's closing price of $7.91. Shares, which were inactive premarket, are up 46% over the past three months. The oil tanker owner said it plans to use the money raised for vessel acquisitions, working capital … [Read more...]

Boskalis Finances EUR1.3 Billion to Acquire Dockwise


AMSTERDAM--Dutch dredging company Koninklijke Boskalis Westminster NV (BOKA.AE) said Thursday it has closed the debt financing for the intended takeover of Dutch seatransporter Dockwise NV (DOCKW.AE). MAIN FACTS: - Boskalis it has signed the agreements for the EUR1.3 billion debt financing required for the takeover of Dockwise. - The credit facilities contain a … [Read more...]

Shell CEO: Both Arctic Drilling Rigs Need Work and Further Evaluation


LONDON--Royal Dutch Shell PLC (RDSA, RDSA.LN) Chief Executive Peter Voser said Thursday that both its Alaska drilling rigs need more work before they can be ready for this year's drilling season. The Noble Discoverer needs a series of upgrades, while the Kulluk, which recently ran aground, has sustained damage, Mr. Voser said. "It's too early to say how this will impact … [Read more...]

Golar Maria LNG Carrier Sold for $215 Million

golar maria lng carrier wilhelmsen

By Debbie Cai Golar LNG Ltd. (GLNG) has agreed to sell the company that owns and operates the liquefied natural gas carrier, the Golar Maria, together with its time-charter, to Golar LNG Partners LP (GMLP) for $215 million. Golar LNG Ltd., which transports, liquefies and trades LNG, expects to reinvest a significant part of the net proceeds in its newbuilding program and … [Read more...]

Brazilian Prosecutor Seeks Injunction to Halt Work at Acu Superport

port of acu brazil

RIO DE JANEIRO -- A federal prosecutor in Brazil is seeking an injunction to halt work at the Acu port complex, an important part of billionaire Brazilian businessman Eike Batista's strategy to capitalize on the country's burgeoning oil and shipbuilding industries. A judge has not yet ruled on the request for the injunction, according to the prosecutor's office. The civil … [Read more...]