• 2017 March 24 17:21

    Solstad Offshore ASA, Farstad Shipping ASA and Deep Sea Supply sign merger plans

    Reference is made to previous announcements concerning the planned combination of Solstad Offshore ASA (“SOFF” or “Solstad”), Farstad Shipping ASA (“Farstad”) and Deep Sea Supply Plc (“DESSC”) as first announced on 6 February 2017, and most recently the announcement of 13 March 2017 regarding inter alia the status of the merger plans, the company said in its press release.

    The statutory merger plans have today been approved and signed by the boards of Solstad, Farstad, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged. The exchange ratio for Farstad’s shares is 0.028 SOFF shares per Farstad share (corresponding to 0.35:12.50). The exchange ratio for DESSC shares is 0.1052631578947368 SOFF shares per DESSC share (corresponding to 1.31578947368421:12.50).

    Each of Solstad, Farstad and DESSC will immediately after this release also issue a separate release which will contain the relevant technical details on the mergers.

    Assuming completion of the mergers and transactions ancillary thereto, the issued number of shares in SOFF is expected to be increased to 291,532,299 on the basis that the existing outstanding warrants in DESSC will be continued as warrants in SOFF, in total 1,052,631, instead of being exercised in DESSC. All shares will be of the same class.

    Aker Capital AS (“Aker”), a subsidiary of Aker ASA, will hold 58,496,302 shares representing 20.1 % of the shares and votes, and Ocean Yield ASA (“Ocean Yield”), a subsidiary of Aker, will hold 8,836,681 shares, representing 3.0 % of the shares and votes. The aggregate holding of Aker and Ocean Yield will be 67,332,983 shares, representing 23.1 % of the shares and votes. Hemen Holding Limited will hold 46,961,289 shares, representing 16.1 % of the shares and votes. The Solstad family will, through its related companies SOFF Invest AS and Ivan II AS, hold 21,066,965 shares, representing approximately 7.2 % of the shares and votes. On a consolidated basis, the Farstad family will hold a total of 4,470,909 shares, representing a consolidated holding of 1.5 % of the shares and votes.

    Ellen Solstad and Lars Peder Solstad of the Solstad family, who through their related companies hold shares in Solstad Offshore ASA, are a member of the board of directors and the Chief Executive Officer, respectively, of Solstad Offshore ASA.

    Mr. Frank Ove Reite, CFO of Aker ASA, is a member of the board of directors of Solstad Offshore ASA.

    Mr. Audun Stensvold, Investment Director of Aker ASA, is a member of the board of directors of Farstad Shipping ASA.

2020 March 28

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2020 March 27

18:37 Kim Heng Marine & Oilfield incorporates JV Bridgewater Marine (Taiwan)
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17:52 Oboronlogistics delivers materials and equipment for construction of medical center in Kaliningrad Region
17:29 Exercise involving three frigates of RF Navy’s Black Sea Fleet took place in Mediterranean Sea
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16:43 Admiralteiskie Verfi launches lead freezing trawler of Project СТ-192 built for Russian Fishery Company
16:21 Arthur Sedov appointed as Managing Director of Rosterminalugol
16:05 Cosco Shipping Ports announces full year results for 2019
15:58 Gazpromneft Ocean marine oils are available in South Korea
15:44 The world's most powerful semi-submersible crane vessel receives the largest LNG bunkering in the Port of Rotterdam
15:27 Navigation on middle Volga and Volga-Baltic Canal to be opened ahead of schedule
15:04 Maritime and Port Authority of Singapore to provide economic relief to passenger vessel owners and operators
14:40 Severnaya Verf lays down fifth processing trawler of Project 170701 ordered by NOREBO Group
14:16 VPower Group is new distributor for Rolls-Royce’s MTU solutions in China
13:55 Russia’s foreign trade cargo to be completely redirected to domestic ports by 2022-2023 - Rosmorrechflot
13:06 Russian bunkering market meets demand for low-sulphur fuel – RF Transport Ministry
12:28 Port of Gdansk is fully operational
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11:09 Diana Shipping announces time charter contract for m/v P. S. Palios with C Transport
10:35 MABUX: Bunker market this morning, Mar 27
10:32 69th navigation season opened in Volga-Don Basin of inland water ways
10:09 Fincantieri extends work stoppage in all its Military and Cruise Vessels production plants and offices from March 30th
09:54 Brent Crude futures price is up 0.68% to $26.52, Light Sweet Crude – up 1.86% to $23.02
09:39 Launching ceremony held for lead shallow-draft dry cargo barge of Project RDB20
09:20 Synergy Group calls for collective action on shipping’s coronavirus crewing crisis
09:11 Baltic Dry Index is down to 569 points

2020 March 26

18:36 MHI-MME first receives MET-MBII turbochargers first order
18:05 DNV GL’s remote surveys surge with 15,000 completed since launch
17:50 IAPH welcomes new member port from Canada
17:36 CMA CGM completes a first transaction relating to the sale of eight port terminals to Terminal Link for USD 815 million in cash
17:16 Höegh LNG announces amendment and restatement of the FSRU Independence debt facility and a new interim LNGC timecharter
17:05 OOCL announces additional withdrawal of Trans-Pacific sailings in April 2020
16:43 RF Government approves Transport Strategy till 2035
16:28 Measures introduced for Nevsky Shipyard staff to prevent spread of Covid -19
16:24 Customised Wärtsilä ship design chosen for two new P&O ships
16:20 MAN Cryo develops liquefied methane terminal in Swedish port city Oxelösund
16:05 COSCO SHIPPING Ports announces FY2019 results
15:37 PDP Institute of Admiral Makarov SUMIS undertakes measures to prevent spread of Covid-19
15:30 APM Terminals issues North America COVID-19 update
15:15 World Maritime University and International Union of Marine Insurance sign Memorandum of Understanding
14:52 North Sea Port takes further action to keep port operational along Ghent and Zealand side
14:13 Delo Group is to consolidate 99.6% of PJSC TransContainer
13:44 Bunker prices continue going down at the Far East ports of Russia (graph)
13:21 Expansion of infrastructure for coal exports via port of Vysotsk approved by Glavgosexpertiza
12:48 Blagoveshchensk shipyard named after October Revolution laid down yet another hydrographic ship of Project 19910
12:10 BC Ferries announces fuel rebate
11:29 Murmansk Commercial Seaport completed construction of wind and dust barriers
11:00 Busan Port cooperates with the government, operators and workers to prevent COVID-19 infection
10:52 Panama Canal adopts measures to guarantee sustained operations amid COVID-19
10:38 Ministry of Transport and Communications of Finland to amend decrees on road ferries, manning of ships and certification of seafarers
10:16 MABUX: Bunker market this morning, Mar 26
10:04 Finnpilot reports on its preparation for COVID-19
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2020 March 25

18:06 The European Commission prolongs the validity of block exemption for liner shipping consortia
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