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June 13, 2014
05:32 EDTKNOP, BRGYYKNOT Offshore Partners announces new charter of Windsor Knutsen by BG Group
KNOT Offshore Partners (KNOP) announced an agreement with Brazil Shipping I Limited, an affiliate of BG Group (BRGYY), for the time charter of the vessel Windsor Knutsen. The hire rate for the initial term is in line with the rate in the existing charter with BG. The charter has an initial term of two years. BG has options to extend the term of the charter for three additional one-year periods. The charter will commence in or around the fourth quarter of 2015. If all three extension options are exercised, the Windsor Knutsen will operate for BG until the end of 2020. The shuttle tanker will operate in Brazil.
News For KNOP;BRGYY From The Last 14 Days
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December 16, 2014
12:22 EDTBRGYYAnadarko, BG Group 'widely seen' as targets amid oil slump, FT says
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December 10, 2014
06:14 EDTBRGYYBG Group agrees to sale of Australian pipeline for $5B
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05:54 EDTKNOPKNOT board believes there are significant growth opportunities for partnership
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05:47 EDTKNOPKNOT Offshore Partners to acquire Dan Cisne
KNOT Offshore Partners announced that its wholly owned subsidiary, KNOT Shuttle Tankers AS, had entered into a share purchase agreement to acquire KNOT Shuttle Tankers 20 AS, the company that owns the shuttle tanker Dan Cisne, from Knutsen NYK Offshore Tankers AS for a purchase price of $103.0M less approximately $82.1M of existing bank debt related to the Dan Cisne. The acquisition is expected to close on or before December 31, subject to customary closing conditions. The Dan Cisne is a 59,000 deadweight ton shuttle tanker, built by Cosco Nantong in China. The Partnership’s management believes that the acquisition will be accretive to unitholders and has recommended that, upon completion of the acquisition, the board of the Partnership consider an increase in the quarterly cash distribution of between 1c-1.5c with respect to the quarter ending March 31, 2015. This corresponds to an annual increase of between 4c-6c per unit, or 2.0%-3.0% per unit to an annualized distribution of between $2.00-$2.02 per unit. Any such increase would be conditioned on, among other things, the closing of the acquisition of the Dan Cisne, approval of such increase by the board and the absence of any material adverse developments or potentially attractive opportunities that would make such an increase inadvisable.
December 8, 2014
07:53 EDTBRGYYClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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