By Doug Cameron One of the largest barge operators on the Mississippi River said Thursday that emergency rock blasting and recent rainfall have improved conditions that had forced shippers to curtail traffic because of low water levels. The rains and the blasting of bedrock in a shallow section by the Army Corps of Engineers have lifted the threat that the key transport … [Read more...]
Private Equity Steers Blohm + Voss Towards Luxury 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 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...]