Kirby Corporation Announces Record Results for the 2007 Second Quarter Jul 26, 2007
Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions, and timing, magnitude and number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no... (PR Newswire)
Jones Act Web Site Launched by Williams Kherkher, A Houston Based Law Firm Jun 14, 2007
The attorneys at Williams Kherkher have launched a web site that discusses the Jones Act and recent events in regards to the Jones Act ... Houston, TX (PRWEB) June 14, 2007 -- Due to the constant use of and assault on the Jones Act, a 1970 law passed by Congress, the law firm of Williams Bailey, based in Houston, Texas, has launched a Web site ... This Web site is intended to serve people all over the world with Jones Act-related news, legal realities, questions and answers and directions in... (Yahoo News -- Press Releases)
Your views: Coming to America Jun 7, 2007
"Where does he get off making a generalized statement like this?I am proud to be an American and I was born and raised in Puerto Rico.I value my American citizenship, and served in the military for 20 years. I met many islanders and Mexicans who not only are proud, but are willing to give up their lives to allow misinformed people like this writer the freedom to say such things.Do not generalize and accuse anyone of not wanting to be an American. Besides, Puerto Ricans were granted American... (Florida Today)
What the rest of the critics thought May 17, 2007
Reviews roundup: My Blueberry Nights. Will Wong Kar Wai be able to work his magic on his first English language film. (Guardian Unlimited -- Film)
ACL to Present at Bear Stearns Global Transportation Conference Apr 24, 2007
American Commercial Lines Inc., headquartered in Jeffersonville, Indiana, is an integrated marine transportation and service company operating in the United States Jones Act trades, with annual revenues of more than $940 million as of December 31, 2006. For more information about ACL generally, visit. (PR Newswire)
Letters to the Editor: April 21 Apr 21, 2007
The Jones Act of 1917 made all Puerto Ricans citizens of the United States. Because of its commonwealth status, Puerto Rico does not participate in presidential elections, however, parties send delegates to the nominating conventions and a non-voting commissioner represents the island in the U.S. Congress. (Pensacola News Journal)
American Commercial Lines Inc. Announces Appointment of General Manager for Liquid Transportation Division Apr 20, 2007
Mike Ryan, Senior Vice President, Sales and Marketing stated "Dan is the ideal choice to lead our new Houston-based organic growth effort in liquids. His industry experience, credibility and success in developing long-term customer relationships will be a tremendous advantage to ACL as we develop and deliver new transportation options to existing and new customers. This is a great benefit to our Gulf region liquids customers as they will have Dan's expertise available to them in the Houston... (PR Newswire)
American Commercial Lines Accelerates Organic Growth Initiatives; Opens Houston, Texas Headquarters for its Liquids Transportation Division Apr 18, 2007
Commenting on these initiatives, Mark R. Holden, President and CEO, stated, "We are seeing progress on the demand side of our business in winning more freight for our transportation division and in improving our asset utilization. As a result, we are accelerating certain aspects of our strategy to foster organic growth, including: -- Establishing the Headquarters of our liquids transportation division in Houston, Texas. -- Increasing our liquid tank barge capacity by over 15% during 2008 with... (PR Newswire)
A Happy Birthday For The Forbes Beltway Index Apr 12, 2007
As the company acknowledges in its filings, a key to Horizon's business is the Jones Act ... "The Jones Act enjoys broad support from both major political parties," says Horizon in its 2006 annual report. (Forbes)
Let’s stop the exodus of Hawaii’s doctors Apr 7, 2007
Surprisingly, the Jones Act also contributes to the non-viability to the medical practices in the state of Hawaii ... The Hawaii doctors have higher overhead due to the Jones Act, which significantly cuts into their profit margin ... The Jones Act makes it more expensive for all of us to live here, and particularly makes Hawaii a less desirable place for doctors to set up practices. (Lihue Garden Island, HA)
Tampa Bay Shipbuilding gets orders for barges Mar 8, 2007
Each barge will be connected to a 12,000 horsepower tug boat and will be capable of carrying refined petroleum products as well as crude oil within the U.S. Jones Act market, the release said. The units are scheduled to be delivered from late 2009 through late 2010. (Tampa Bay Business Journal, FL)
Daily News letters Mar 7, 2007
The federal Jones Act requires American-built vessels from American ports to American ports. Gas fields in Siberia, as well as the Far East, have gas tankers under construction that cost less than U.S. tankers and will operate at lower costs because of substantially lower wages. (Anchorage Daily News)
New shipping method could bring $120 million and jobs Feb 25, 2007
The second hurdle is the U.S. Jones Act, also known as the Merchant Marine Act of 1920. The act restricts domestic operators from using foreign-built vessels. (The Standard-Times, MA)
American Commercial Lines Inc. Announces New Three Year Agreement for Shipyard Employees and Teamsters Local 89 Feb 20, 2007
Mark R. Holden, President and CEO stated, "With this agreement, the Company is well underway toward achieving our primary goal of being the "employer of choice" in the local community and positions ACL to recruit and retain the most qualified employees. The agreement is the result of a remarkable cooperative effort to negotiate a contract that benefits both employees and the Company. We wish to thank Fred Zuckerman, President, Teamsters Local 89 and the Bargaining Committee for helping us... (PR Newswire)
First Product Tanker Delivered By Aker Philadelphia Shipyard Feb 11, 2007
"With our first vessel now in operation the second dimension of Aker American Shipping's exciting build and own strategy in the Jones Act is now in place." Eric Smith, Chief Commercial Officer and Head of Government Affairs for OSG America commented, "OSG America is very excited to have taken delivery of the Overseas Houston today. Our relationship with Aker American Shipping is excellent. We use our combined resolve to deliver new Jones Act tonnage to our customers like Shell who will employ... (PR Newswire)
Aker American Shipping ASA and Overseas Shipholding Group, Inc. Announce Agreement in Principle for up to Six Additional Product Tankers Feb 8, 2007
Agreement Signed for Six More Tankers PHILADELPHIA, Feb. 7 /PRNewswire-USNewswire/ -- Aker American Shipping ASA and Overseas Shipholding Group, Inc. announced today that they have signed an agreement in principle pursuant to which Aker American Shipping subsidiary, Aker Philadelphia Shipyard, will construct up to six additional Veteran Class MT-46 Jones Act Product Tankers (three fixed plus three options) and transfer them to another subsidiary, American Shipping Corporation, which will... (PR Newswire)
OSG Announces Agreement to Charter Up to Six Additional Jones Act Tankers Feb 8, 2007
NEW YORK, Feb. 7, 2007 (PRIME NEWSWIRE) -- Overseas Shipholding Group, Inc. (NYSE: - ), a market leader providing global energy transportation services, today announced that it has signed an agreement in principle pursuant to which Aker Philadelphia Shipyard, a subsidiary of Aker American Shipping ASA, will construct up to six additional Veteran Class MT-46 Jones Act Product Tankers (three fixed plus three options) ... OSG also announced that a time charter agreement has been signed between OSG... (Primezone Releases)
New Union Agreement for Aker Philadelphia Shipyard Feb 3, 2007
In conjunction with affiliated subsidiaries, the state-of-the-art shipyard located on the site of the former Philadelphia Navy Yard is in the midst of a project to build, own, and lease product tankers for the U.S. Jones Act market. Aker American Shipping and Aker Philadelphia Shipyard, Inc. are members of the Norwegian-based Aker family of global companies, industry leaders in the fields of shipbuilding, fishery, and technology-based solutions for customers in oil, gas, energy, and process... (PR Newswire)
American Commercial Lines Inc. Announces Results of the Tender Offer and Consent Solicitation for all Outstanding 9 1/2% Senior Notes due 2015 Jan 31, 2007
American Commercial Lines Inc., headquartered in Jeffersonville, Indiana, is an integrated marine transportation and service company operating in the United States Jones Act trades, with approximately 2,600 employees and revenues of more than $740 million as of December 31, 2005. For more information about ACL generally, visit. (PR Newswire)
Hornbeck Offshore Believes Class Action Lawsuits Without Merit Jan 20, 2007
Important factors that might cause future results to differ from these assumptions, expectations and projections include, but are not limited to, industry risks, changes in capital spending budgets by our customers, oil and natural gas prices, the inability to secure additional upstream contracts for TTB vessels, increases in operating costs, the level of fleet additions by competitors and over-capacity, economic and political risks, weather related risks, the ability to attract and retain... (PR Newswire)
Hornbeck Offshore Lowers Guidance for Fourth Quarter 2006 and Updates Earnings Guidance for Calendar 2006 Jan 11, 2007
In addition, we expect to deliver three 60,000-barrel double- hulled tank barges and four ocean-going tugs during 2007 that will increase the barrel-carrying capacity of our downstream fleet by about 30%," Mr. Hornbeck concluded. Conference Call The Company will conduct a conference call to discuss its revised guidance at 8:30 a.m. Eastern (7:30 a.m. Central) tomorrow, January 11, 2007. To participate in the call, dial (303) 262-2130 and ask for the Hornbeck Offshore call at least 10 minutes... (PR Newswire)
Form and potential: Luczak and Moore dealt cards everyone wanted Jan 9, 2007
Welcome to The Sydney Morning Herald. Linda PearceJanuary 9, 2007. (Sydney Morning Herald -- Sport)
Aussies vying for Medibank wildcards Dec 29, 2006
Welcome to The Sydney Morning Herald. December 29, 2006 - 4:54PM. (Sydney Morning Herald -- Sport)
Mineta to join Horizon board Dec 22, 2006
It is the second largest maritime shipping line to Hawaii but the largest Jones Act shipper nationally. Horizon is descended from SeaLand Corp., founded by the corporate predecessor of when the U.S. East rail system invented the container shipping business. (Pacific Business News, HI)
Competitor challenges Matson's Chinese repair work Dec 5, 2006
At issue is whether Matson's Chinese portion of the retrofit exceeds provisions allowed in the Jones Act, the maritime law that requires U.S. shipyards to do the work on ships that sail between domestic ports. The law allows some work to be done in foreign ports, but it cannot involve more than 10 percent of a vessel's steel weight. (Pacific Business News, HI)
Overseas Shipholding Group Acquires Maritrans Nov 29, 2006
and NEW YORK, Nov. 28, 2006 (PRIME NEWSWIRE) -- Overseas Shipholding Group, Inc. (NYSE: - ) and Maritrans Inc. (NYSE: - ) jointly announced today that OSG has completed the acquisition of Maritrans Inc., a leading U.S. Flag crude oil and petroleum product shipping company that owns and operates one of the largest fleets of double hull Jones Act vessels serving the East and U.S. Gulf coastwise trades ... Morten Arntzen, President and Chief Executive Officer of OSG, commented, ``We view having a... (Primezone Releases)
Cherry Jones inhabits roles with a rare magic she hopes to bring to film Nov 7, 2006
"When you watch Cherry Jones act, there is first of all this phenomenal skill on display," says "Doubt" director Doug Hughes. "What makes her performances so great and special is that you know you're witnessing a dedicated life -- something that is not simply the display of skill and certainly not a display of ego. You are watching someone who believes that acting is a way for us to raise our quotient of humanity.". (San Francisco Chronicle)
Mallan wants U.S. military pared down Oct 23, 2006
In modern-day Hawaii, Mallan said he would strive to create a free market and repeal the Jones Act so foreign commercial vessels could stop at state ports. At the national level, Mallan said he would decriminalize drug use as people should have a right to do what they want with their bodies. (Lihue Garden Island, HA)
Horizon Lines, Inc. Increases 2006 Earnings Guidance Oct 19, 2006
About Horizon Lines Based in Charlotte, NC, Horizon Lines, Inc. is the nation's leading Jones Act container shipping and integrated logistics company, operating 16 U.S.- flag vessels on routes linking the continental United States with Alaska, Hawaii, Guam, and Puerto Rico ... Factors that may cause actual results to differ from expected results include: our substantial debt; restrictive covenants under our debt agreements; decreases in shipping volumes; our failure to renew our commercial... (PR Newswire)
Another potential buyer for the Fast Ferry Oct 19, 2006
" It's called the Jones Act, its one of the reasons the ferry could not transport people between the Hawaiian Islands during a stop over on its way to Rochester. Brian McCaughrin says he's tried to contact the city. His plan for a Great Lakes ferry service might take two years, but his interest in Rochester's ferry is immediate. A lot of people are going to think I'm a little nuts. This is a huge undertaking and God's going to bring a lot of good people and this is going to run and I'd like to... (10NBC.com, NY)
Akaka wins; Case concedes Sep 25, 2006
The primary revealed that the liberal Akaka and the moderate Case have significant differences on public policy, from the war in Iraq and electronic surveillance in the USA Patriot Act to oil drilling in the Arctic National Wildlife Refuge in Alaska and protection of the domestic cargo shipping industry through the federal Jones Act. Iraq has been the divisive political issue nationally this year and Akaka's campaign used the senator's opposition to the war as among his main selling points to... (Honolulu Advertiser)
Suit says Holland America defrauded passengers Sep 24, 2006
DISPUTED FEES: Ohio family was charged $1,200 as a "Jones Act Penalty." ... Holland America also charged Miller, his daughter and his parents a $300-per-person "Jones Act Penalty" after they missed the Oosterdam's departure from Seattle for Southeast Alaska ... Under the federal Jones Act, it is illegal for cruise lines to transport passengers between U.S. ports on a foreign-flagged ship unless the passenger returns to the original port, said Michael Crye, president of the International Council... (Anchorage Daily News)
Inouye and Akaka oppose fruit proposal Sep 22, 2006
Case said that repealing the Jones Act would lower costs and would help make Hawaii agriculture more competitive to foreign competition. The deadline for public comment is Monday. (Honolulu Star-Bulletin)
American Commercial Lines Signs Agreement for the Sale of its Venezuelan Operations Sep 19, 2006
Commenting on the agreement, Richard A. Mitchell, Jr., Senior Vice President, Corporate Strategy stated, "We are very pleased to have taken this important step in executing our business strategy. This transaction divests us of substantially all of our remaining international assets which contributed approximately $6.6 million of EBITDA in 2005. The net proceeds from this transaction will be used to further reduce our debt." President and CEO, Mark R. Holden provided, "This transaction makes... (PR Newswire)
Remarks by President Bush on Labor Day Sep 5, 2006
In the meantime, it's important for Presidents to embrace the Jones Act ... I have, so far, five-and-a- half years as the President, supported the Jones Act, and will continue to do so as the President. (PR Newswire)
President Bush Honors American Work Force on Labor Day Sep 5, 2006
In the meantime, it's important for Presidents to embrace the Jones Act ... I have, so far, five-and-a-half years as the President, supported the Jones Act, and will continue to do so as the President. (White House News Releases)
See reader comments on tonight's debate Sep 1, 2006
Akaka's support of the Jones Act is rediculous ... He struggled to find his words, gave responses that didn't match the questions asked, and stammered d" his way through. This made him appear unconfident and uncapable of persuading people. We are grateful to Akaka for his many years of service. But it's time for him and for all of us to think of what's best of Hawaii...a transition to new leadership. I hope we will all do what's best for Hawaii and vote Ed Case into Senate. DebbieMHonolulu... (Honolulu Advertiser)
Iraq, social issues mark debate Sep 1, 2006
The Bush administration, I feel, has abused the Patriot Act" and he said he voted against it. Case was asked about the differences between him and Akaka on the Jones Act and whether Hawai'i should be exempt from the act. Case said Matson dominates the shipping industry. "When somebody gets ahold of our life line, that's a danger sign ... I do believe in repeal of the Jones Act ... " Akaka called the Jones Act a "critical component" in protecting local jobs and in national security. The act has... (Honolulu Advertiser)
Akaka says he won't debate Case again Sep 1, 2006
Asked what he believed was the most significant difference between them during the debate, Case said "I'm really not sure. Frankly, listening to Sen. Akaka's answers there wasn't the clarity in the answers that would have allowed me to form a reasonable opinion on what the differences actually were. "I think that if you wanted the most stark difference that came across in spades it was the Jones Act. and I articulated what I thought pretty directly and I have for some time now and Sen. (Honolulu Advertiser)
Abercrombie's opponents pessimistic Aug 8, 2006
Terry, a real estate agent, wants to lower the cost of living in Hawaii and repeal the Jones Act, which requires cargo moving between U.S. ports to travel on ships that are made, owned and crewed by Americans. Kaan would use her experience as an immigration attorney to facilitate federal immigration reform. (Honolulu Star-Bulletin)
NASSCO gets $1 billion contract to build nine tankers Aug 8, 2006
A U.S. law named the Jones Act requires that U.S.-flagged vessels traveling between U.S. ports must be built in the United States, so DSEC cannot build the tankers at its facilities in the Korean port of Busan. In March, DSEC entered a deal with NASSCO in which the Korean firm will provide designs and other services related to ships covered by the Jones Act, but NASSCO will do the construction work at its shipyard in San Diego. (San Diego Union-Tribune -- Business)
Connaughtonsails through nomination hearing; confirmation still to come Aug 5, 2006
Inouye then asked Connaughton about his stance was on the Jones Act, which provides for benefits to workers who are injured on ships and offshore oil rigs. Connaughton replied, "I will tell you that the administration strongly supports the Jones Act and I strongly support the Jones Act as well, Sir." ... Addressing the Prince William chairman directly, Lott said, "We have some problems we're facing right now. I want to make sure this administration understands and appreciates the need for the... (Centreville Times, VA)
Horizon Lines swings to profit Jul 29, 2006
While Horizon has a smaller share of the Hawaii maritime shipping market than , the combination of its Hawaii-Guam service and its service on the East Coast make Horizon the nation's largest Jones Act container shipping and integrated logistics company. Its fleet of 16 ships carry 36 percent of total U.S. marine container shipments to the three non-contiguous Jones Act markets, Alaska, Hawaii and Puerto Rico, and to Guam. (Pacific Business News, HI)
Horizon Lines posts 2Q earnings of $6.4M Jul 29, 2006
Horizon operates under the Jones Act, which restricts marine shipping between U.S. ports to U.S.-owned companies. Related Industry stories. (Charlotte Business Journal, NC)
SEACOR Holdings Announces Second Quarter Results Jul 27, 2006
Such risks, uncertainties and other important factors include, among others: the cyclical nature of the oil and gas industry, activity in foreign countries and changes in foreign political, military and economic conditions, the dependence of Offshore Marine Services, Marine Transportation Services and Aviation Services on several customers, industry fleet capacity, consolidation of our customer base, the ongoing need to replace aging vessels, restrictions imposed by the Shipping Acts and... (PR Newswire)
Letters for Wednesday - July 19, 2006 Jul 20, 2006
Jones Act shouldn t be repealed Letter was misunderstood Bridge okay for Wailua. Jones Act shouldn t be repealed ... I seriously doubt whether Ed Case knows about this when he advocates repeal of the Jones Act, because the importance of the American Merchant Marine and the American sailors who man these ships, to our national defense and security cannot be measured in the dollars and cents saved by using foreign bottoms and foreign crews. (Lihue Garden Island, HA)
Maritrans fleet utilization down in 2Q, idle time up Jul 11, 2006
"For the remainder of 2006, we expect spot market rates to increase as a result of continued strong product demand in the markets the company serves and the lower supply of Jones Act vessels," said Jonathan Whitworth, chief executive officer, in a release. The Jones Act, also known as the Merchant Marine Act, stipulates that vessels flying the U.S. flag must be built in the U.S., owned by U.S. citizens and registered in the U.S.. (Tampa Bay Business Journal, FL)
Profitable tax dodge Jun 28, 2006
Under the Jones Act, only U.S. ships are allowed to sail between U.S. ports ... Nabors won a two-year exemption from the Jones Act requirements ... Profits should be moving even higher, just as the company's Jones Act exemption is set to expire. (Anchorage Daily News)
Horizon Lines files for public offering May 21, 2006
Horizon operates under the Jones Act, which restricts marine shipping between U.S. ports to U.S.-owned companies. Brought to you by. (Charlotte Business Journal, NC)
Timeline: Puerto Rico May 11, 2006
1917 - Jones Act grants US citizenship to Puerto Ricans. 1946 - US appoints Jesus T Pinero as Puerto Rico's first governor. (BBC News -- Americas)
Wal-Mart honors Horizon Lines May 8, 2006
has chosen as recipient of the retail chain's annual Carrier of the Year Award for Jones Act trades ... Horizon Lines operates under the Jones Act, which restricts marine shipping between U.S. ports to U.S.-owned companies. (Charlotte Business Journal, NC)
Bad news for LNG May 5, 2006
In addition, the expensive U.S.-built and -operated tankers, required by the protectionist Jones Act, would add a lot to the bill, PFC Energy says. Simply put, the consultant says, "the Chicago pipeline project has a decisive cost advantage.". (Anchorage Daily News)
OSG Reports Earnings of $128 Million on Record First Quarter TCE Revenues of $280 Million May 2, 2006
-- On April 7, 2006, OSG signed long-term time charter-out agreements for two more of its Jones Act product carriers being built at the Aker Philadelphia Shipyard. The agreement between OSG and Tesoro Maritime Company, an independent refiner and marketer of petroleum products, is in addition to four other previously announced long-term charters: two with Shell Trading U.S. Company, a subsidiary of Shell Oil, and two with British Petroleum PLC. To date, six of the Company's ten newbuild Jones Act... (Primezone Releases)
Horizon posts 1Q earnings of $2.4M Apr 29, 2006
Inc. and Wal-Mart Stores Inc. Horizon Lines operates under the Jones Act, which restricts marine shipping between U.S. ports to U.S.-owned companies. Extra. (Charlotte Business Journal, NC)
Kirby Corporation Announces Record Results for the 2006 First Quarter and Declares a Two-for-One Stock Split Apr 27, 2006
Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions, and timing, magnitude and number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no... (PR Newswire)
More of this story Apr 25, 2006
House Joint Resolution 380: Names House Bill 447 the "Lloyd McCullough and Dustin Jones Act" in honor of two Moulton firefighters who died on duty in February 2006. House Bill 209: Allows for the implementation of a distinctive firefighter tag. (Atmore Advance, AL)
Horizon Lines and Ship Finance Complete Approximately $280 Million Container Vessels Transaction Apr 12, 2006
About Horizon Lines: Horizon Lines, LLC is the nation's leading Jones Act container shipping and integrated logistics company, operating 16 U.S.-flag vessels on routes linking the continental United States with Alaska, Hawaii, Guam, and Puerto Rico. Horizon Lines also owns Horizon Services Group, an organization with a diversified offering of cargo management and tracking services being marketed to shippers, carriers, and other supply chain participants. (PR Newswire)
Kirby Corporation 2006 First Quarter Net Earnings to Exceed $.78 Per Share Mar 21, 2006
Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions, and timing, magnitude and the number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no... (PR Newswire)
Kirby Corporation Announces the Purchase of the Remaining 65% Interest in Offshore Partnership Mar 3, 2006
Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions, and the timing, magnitude and the number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no... (PR Newswire)
It's A Small Ports World After All Mar 3, 2006
The Jones Act of 1920 made domestic trade an exception since it requires all shipping between two U.S. ports to be done by a U.S.-built ship, flying a U.S. flag and manned by a U.S. crew. But while the act shielded domestic shippers from foreign competition, it also shackled many U.S. shippers competing with foreign lines to the inefficient domestic shipbuilding industry. (Forbes)
ACL to Present at BB&T Capital Markets Transportation Services Conference and Deutsche Bank Small Cap Growth Conference Jan 31, 2006
American Commercial Lines Inc., headquartered in Jeffersonville, Indiana is an integrated marine transportation and service company operating in the United States Jones Act trades. For more information about ACL generally, visit. (PR Newswire)
BOURBON Invests in US Offshore Oil Marine Services by Making USD 9.1 Million Equity Investment in Rigdon Marine Jan 18, 2006
This investment was made in compliance with American regulations, particularly the Jones Act, and this stake will be consolidated in the BOURBON accounts using the new US equity method. The investment contributes to the implementation of the new financial structure of Rigdon Marine, which is simultaneously announcing that it has obtained bank loans of USD 170 million and new equity capital from American investors besides Bourbon. (PR Newswire)
