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Stealth on the lookout
Harry Vafias-led LPG owner on the lookout for fresh tonnage as bottom line climbs in the first and newbuild nears completion.
OSX preps IPO
As expected, OSX has filed papers for an initial public offering (IPO) on the Sao Paulo Stock Exchange.
The registration with Brazil's Securities Commission positions the shipyard and offshore company to become the fifth company controlled by billionaire Eike Batista to go public.
Eike Batista has launched five public companies.
Credit Suisse is backing the offering with Brazil's Banco Itau. The prospectus also says the shares will be sold in the United States, although no filing could be found with the US Securities and Exchange Commission (SEC).
The registration of the offering comes as Batista's oil production company, OGX, has said its offshore oil discoveries require 19 floating production units and 29 platforms. The OSX filing claims the units will cost an estimated $30bn.
OGX has announced an agreement with OSX in which the shipbuilder will charter the required units to OGX.
The companies also agreed to a $263,000-per-day charter set to last 20 years for the first unit. OSX bought the 133,000-dwt newbuilding floating production, storage and offloading unit (FPSO) OSX 1 from Nexus Floating Production.
As TradeWinds has reported, OSX plans to build a $1bn shipyard in the southern Brazilian state of Santa Catarina and has proposed a second new yard in Rio de Janeiro state.
Latest News
Solvang cited
US Coast Guard port inspections result in detention of Norwegian gas carrier, OSG tanker, ER Schiffart boxship and others.
Sanko Mineral still in custody
Cobelfret won’t be given a better seat at the bargaining table after dropping claim as talks to free ship continue, Sanko says.
Let’s make a deal
Creditor frees chemical tanker caught in the middle of $55m charter battle after penning new pact with Berlian Laju.
Golar LNG Partners downed
John Fredriksen's FSRU spin-off sees Q1 earnings eroded by costs of adding Golar Freeze, but margins improve.
Boyden back in business
Former Cantor Fitzgerald analyst wastes no time in starting up shipping coverage after clocking on at Global Hunter Securities.
MOL joins rivals
Japanese owner adding one post-panamax to Middle East service operated by K Line and others.
DFDS falls to a loss
But Danish owner sticking to profit forecast for 2012, despite over-capacity in North Sea ro-ro market.
Dung on the run
Police hunt Vietnamese owner's former chairman in mismanagement case after he fled before arrest.
Will you see an end product?
Clarksons questions if now is the right time to wade in with MR and LR newbuilding contracts.
Dark day for boxship
Zodiac vessel held in Hong Kong after inspectors found faults relating to insufficient lighting.
Vale rubbishes boycott talk
Brazilian mining giant says claims it is shunning the Chinese owner's vessels are wide of the mark.
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