Boskalis says financing for Dockwise offer in place
With reference to the press release of 21 December 2012 in which Boskalis announced its decision to make an all cash voluntary public offer for all the issued and outstanding ordinary shares of Dockwise at a price of EUR 18.50 per share cum dividend (the Offer), Boskalis hereby confirms that it has the necessary funds available to finance the Offer, the Company press release said.
The Offer values Dockwise at EUR 733 million with an enterprise value of approximately EUR 1.25 billion. Boskalis will finance the Offer and refinance existing facilities through a mix of existing cash resources, new senior debt facilities and an equity issuance.
Boskalis confirms that it has taken reasonable measures to ensure that it will be able to finance the equity part of the Offer and that it has secured EUR 1.3 billion of committed financing arrangements with tenors of up to 5 years. The combination of the committed debt financing and the intended issue of new equity will be used to finance the Offer and for general corporate purposes.
K-Line in talks to build 5 megaboxers at Imabari Shipbuilding
K Line is looking at opportunities to acquire ultra-large containerships in a move that could see the Japanese shipping giant become the final CKYH member to join the mega-ship club.
A Tokyo-based source said K Line was in talks to build five ultra-large boxships at Imabari Shipbuilding in a newbuilding or a lease deal.
United Arab Shipping Co has reportedly started talks with shipyards to build mega boxships of up to 18,000TEU class.
Denmark's Maersk Line is so far the only shipowner to have ordered that largest-ever containerships, 20 newbuildings at Daewoo Shipbuilding & Marine Engineering in Korea.
The first of so-called 'Triple-E' vessels is scheduled for delivery this year.
However, UASC is said to be looking at different designs from Maersk's.
Back in 2008, UASC had ordered nine 13,500TEU boxships at around $170m per ship.
COSCO achieves 10m teu handling volume in 2012 - Increase of 15.06% year-on-year
Shanghai: China’s largest shipping line, COSCO, achieved 10m teu container handling volume in 2012, hitting a record high, according to a notice from the web of the State Assets Administration Committee of PRC.
By the end of 31 December 2012, the group’s container arm COSCO Container Lines, had completed 10.5m teu in container volumes, an increase of 15.06% year-on-year. [08/01/13]
Sinotrans CSC in talks with CSSC to order 10 bulkers
Beijing: Sinotrans CSC, the largest integrated logistics service supplier in China, is reportedly in negotiations with China State Shipbuilding Corporation (CSSC) to order up to 10 supramax bulkers.
Sinotrans CSC is planning to order 4+2 64,000dwt bulkers at CSSC Chengxi Shipyard and 2+2 64,000dwt bulkers at CSSC Huangpu Shipyard.
Earlier in 2012, Xie Shaohua, CFO of Sinotrans Shipping, said in a results announcement that the company planned to take the opportunity of low vessel prices to expand the fleet and improve the quality and competitiveness of the fleet, and bulkers would be the main ship type to order.
An industry analyst said Sinotrans choosing CSSC over its own subsidiary shipyards might be related to a 17% tax rebate which the government is currently offering for ship orders at CSSC. [07/01/13]
MOL boss forecasts another record loss making year
Mitsui OSK Lines (MOL) boss Koichi Muto has forecast another record loss making year in 2013 as poor dry bulk and tanker markets take their toll.
“Following on from our biggest loss ever in the previous fiscal year, MOL is projecting yet another loss of the same magnitude for the current fiscal year,” Muto, president of MOL, said in his 2013 New Year message. MOL is forecasting a JPY24bn loss for its 2012 financial year ended 31 March 2013. More at www.seatrade-asia...
STX Europe AS sells Norwegian Yards to Westcon Group AS
STX Europe AS, a subsidiary of STX Group, has completed the sale of STX Norway Florø AS and STX Norway Design Florø AS to Norwegian Yard operator Westcon Group AS.
‘We are very proud to wish our clients and all who work with and for Westcon, including our new team members in Florø, a happy new year with this exciting announcement,’ says Arne Birkeland, deputy ceo at Westcon Group. ‘The acquisition will create new opportunities as well as strengthen Westcon’s position as a leading provider of yard services in the North Sea. Access to a highly skilled work force in the acquired companies, as well as a bigger dock, a modern plant and an attractive location will strengthen the market position of the Westcon Group’. More at www.seatrade-asia...
Finnish ship builder STX to cut jobs - "several hundred" jobs at risk
Ship building firm STX Finland is to reduce its headcount after it failed to clinch a one billion-euro ($1.33 billion) cruise ship order, the Finnish Metalworkers' Union said on Wednesday. "The financial situation and the loss of the Sanctuary cruise ship order to France means the company's fixed costs have to be reduced by 30 percent," the union said in a statement.
A union representative, Jari Aalto, said talks over job cuts would begin on January 8. STX Finland has around 2,200 employees, and "several hundred" jobs are at risk, he added. The Finnish government had turned down a request from the troubled company for a 50 million-euro loan to help it secure the order.
STX France SA signed on Dec. 28, 2012 a contract for building a cruise ship intended for Royal Caribbean International (RCI - subsidiary of RCCL) fleet. Third ship of the OASIS class, this ship featuring outstanding dimensions is due for delivery in mid-2016. An option for a second ship due in mid-2018 is also provided.
With 361 metres long and 66 metres wide, this ship is one of the biggest ever built in Saint-Nazaire. Oasis of the Seas and Allure of the Seas are indeed the largest and most revolutionary cruise ships in the world. Architectural marvels at sea, they span 16 decks, encompass 225,282 gross registered tons, carrying 5,400 guests at double occupancy, and feature 2,700 staterooms.