Marine Money Archives » Transaction Report

52 Weeks of Shipping Transactions

marinemoney — Tue, 01 Feb 2011 19:24:35 +0000

52 Weeks of Shipping Transactions

carisk — Tue, 02 Feb 2010 02:32:06 +0000

Navios Comes Full Circle

carisk — Thu, 26 Jun 2008 15:12:33 +0000

Less than 10 days after making its first public F-1 filing, SPAC Navios Maritime Acquisition Corporation successfully priced its 22,000,000 unit IPO at $10.00/unit to raise gross proceeds of $220 million. The deal timetable was ultimately compressed and the deal well oversubscribed by a mix of SPAC investors, shipping fundamental investors, and those who have been following Navios. Units had traded up a half a percent at close today to

Transaction Report

carisk — Thu, 26 Jun 2008 15:11:29 +0000

As the conference season officially ends and the summer officially begins in the Northern Hemisphere, the deal market shows no signs of going on vacation. Angeliki Frangou successfully priced her second shipping SPAC in the US, the Oslo high yield market has picked up some of its lost momentum, and a certain Mr. Fredriksen continues to make sure the shipping deal market never gets too boring

Faster Than a Speeding Bullet, More Powerful Than a Locomotive, and Able to Leap Tall Buildings in a Single Bound”

carisk — Thu, 26 Jun 2008 12:08:29 +0000

No, we are not talking about Superman, but if that was your guess you were close. In fact, we are referring to John Fredriksen, who may be, in financial circles, more powerful than Superman. On Wednesday, Frontline announced the acquisition of five suezmax tankers and the intention to partially finance them with a private placement of new shares. The private placement was successfully completed today in less than 24 hours.

DnB NOR Markets Takes Master Marine to Market for EUR 60 million Bond

carisk — Thu, 26 Jun 2008 10:05:40 +0000

After an unprecedented surge in Norwegian high yield volume from 2004 to 2007, the market, as with many debt markets, fell off dramatically in the first half of 2008. As oil prices continue to surge, however, offshore projects in particular have managed to attract investors and the high yield market for these deals in Oslo appears to be gaining some momentum, if at higher prices than in the not so distant past.

Clarification

carisk — Thu, 05 Jun 2008 17:24:53 +0000

Last week in our article on D/S Torm we were guilty of a number of errors, which are clarified below: We misstated the differential in MR earnings between East and West. In fact, on a yearly basis the differential between the two basins is $2.7 million. We deeply regret our statement that product carriers could not be built in China at this time. What was meant was that

Dresdner Loans

carisk — Thu, 05 Jun 2008 12:20:48 +0000

The German bank market was quiet for awhile as rumors suggested strained credit access was making both the economics and the execution challenging in the KG market. One by one banks have been signaling to the market that they are in full business. This week Dresdner Kleinwort announced that it had closed a $132 million financing for a Dr. Peters special purpose vehicle, Dr

DWT Goes Public

carisk — Thu, 05 Jun 2008 12:16:19 +0000

Someone had to grab this great ticker symbol and it was no other than Britannia Bulk Holdings Inc. With the assistance of Goldman Sachs and Banc of America Securities, as joint bookrunners, Britannia announced today that it was commencing an initial public offering of 8,333,333 shares of its common stock at a proposed offering price of $17 to $19 per share. At the midpoint, the gross pro-ceeds would be $150 million. Certain principals have granted the underwriters the right to purchase up to 1.25 million shares in the aggregate at the initial public offering price to cover over-allotments.

GulfMark Offshore Makes the “First Call

carisk — Thu, 05 Jun 2008 12:12:43 +0000

Last week, in what GulfMark’s Chairman David Butters termed a “transformational event”, GulfMark announced the acquisition of Rigdon Marine Corporation (“RMC”), a major operator of technologically advanced offshore supply vessels in the Gulf of Mexico. The RMC fleet of 28 vessels (21 on the water) includes next generation deepwater supply vessels, ultra modern crew and fast supply vessels. The combination will create an organization of over 2,000 employees and 90 vessels, capable of working in virtually all OSV markets, with an additional 16 vessels of several different designs scheduled for delivery through 2010.