Eitzen Maritime Services steps up in the Middle East
Eitzen Maritime Services ASA intends to strengthen its grip on the Middle East and Africa ship supply market. The former owner of Seven Seas Shipchandlers, Mr Freddy Sidhwa, has been retained as a consultant to the CEO of EMS as part of the initiative.
EMS Ship Supply is already the market leader in the region, through Seven Seas Shipchandlers, which was acquired last year. Seven Seas is headquartered in Dubai and currently operates out of ports on the Arabian Peninsula and in Eastern Africa.
"Mr Freddy Sidhwa has vast experience and is well connected in the region. We are extremely pleased that he has agreed to assist us in developing the business even further. Freddy Sidhwa will as a major shareholder and partner of EMS strengthen our team considerably," said Annette Malm Justad, CEO of Eitzen Maritime Services.
Since the acquisition by EMS last year, Seven Seas has experienced a strong development, in particular in the military sector but also in the merchant fleet segment. The company is now integrated into EMS' global sourcing and logistics network, benefiting customers in the region as well as global purchasers of ship supply services.
"We see the potential for further growth in the Middle East. A number of attractive military contracts are in the pipeline and also the merchant fleet segment holds considerable upside potential in this important shipping region. We are therefore positioning ourselves to play an even more important role in the Middle East," Annette Malm Justad said.
For further information, please call Ms Annette Malm Justad, CEO, telephone +47 9520 9396.
Eitzen Maritime Services ASA intends to strengthen its grip on the Middle East and Africa ship supply market. The former owner of Seven Seas Shipchandlers, Mr Freddy Sidhwa, has been retained as a consultant to the CEO of EMS as part of the initiative.
EMS Ship Supply is already the market leader in the region, through Seven Seas Shipchandlers, which was acquired last year. Seven Seas is headquartered in Dubai and currently operates out of ports on the Arabian Peninsula and in Eastern Africa.
"Mr Freddy Sidhwa has vast experience and is well connected in the region. We are extremely pleased that he has agreed to assist us in developing the business even further. Freddy Sidhwa will as a major shareholder and partner of EMS strengthen our team considerably," said Annette Malm Justad, CEO of Eitzen Maritime Services.
Since the acquisition by EMS last year, Seven Seas has experienced a strong development, in particular in the military sector but also in the merchant fleet segment. The company is now integrated into EMS' global sourcing and logistics network, benefiting customers in the region as well as global purchasers of ship supply services.
"We see the potential for further growth in the Middle East. A number of attractive military contracts are in the pipeline and also the merchant fleet segment holds considerable upside potential in this important shipping region. We are therefore positioning ourselves to play an even more important role in the Middle East," Annette Malm Justad said.
For further information, please call Ms Annette Malm Justad, CEO, telephone +47 9520 9396.
20/8 2009 16:50 collersteen 1
17263 En enkelt svipser fra EMS:
EMS: EMS - NOK 20 million credit line covenant requirement
http://www.newsweb.no/index.jsp?messageId=243804
In the second quarter report, EMS announced that it was in breach of
a covenant regarding a NOK 20 million credit line. The covenant
related to equity ratio.
EMS has today received acceptance from Nordea that the equity ratio
covenant for the NOK 20 million credit line is aligned with the
equity covenant in the USD 40 million bank loan in which Nordea is
one of the mandate lead arrangers. EMS is in compliance with this
covenant. The adjustment is permanent.
Thus the group is no longer in breach with any covenants.
For further information, please contact:
Knut Abrahamsen
Chief Financial Officer
Eitzen Maritime Services ASA
Tel: +47 92 40 10 38
EMS: EMS - NOK 20 million credit line covenant requirement
http://www.newsweb.no/index.jsp?messageId=243804
In the second quarter report, EMS announced that it was in breach of
a covenant regarding a NOK 20 million credit line. The covenant
related to equity ratio.
EMS has today received acceptance from Nordea that the equity ratio
covenant for the NOK 20 million credit line is aligned with the
equity covenant in the USD 40 million bank loan in which Nordea is
one of the mandate lead arrangers. EMS is in compliance with this
covenant. The adjustment is permanent.
Thus the group is no longer in breach with any covenants.
For further information, please contact:
Knut Abrahamsen
Chief Financial Officer
Eitzen Maritime Services ASA
Tel: +47 92 40 10 38
8/9 2009 15:53 collersteen 118289 Noget kunne tyde at der er ved at komme styr på finansieringen i Aka's norske valueplay Eitzen Maritime Services ASA.
Så skal der vist bare styr på kursen.... Kurs 1,65 er godt nok ikke meget. Jeg tror jeg nupper lidt for at sympatisere lidt med Aka som har det hårdt i disse dage ;)
Eitzen Maritime Services ASA is contemplating a bond issue directed
towards professional Norwegian and international investors.
Eitzen Maritime Services ASA has engaged First Securities ASA,
Fearnley Fonds ASA and Nordea Bank Norge ASA as Arrangers for this
bond issue.
The new senior unsecured bond issue is intended to be up to NOK 350 -
400 million, the majority of the issue is already pre-committed. The
proceeds from the issue will be used for refinancing of current debt
and general corporate purposes.
For further information:
Annette Malm Justad
Chief Executive Officer
Tel: +47 95 20 93 96
http://www.newsweb.no/newsweb/search.do?messageId=244925
Så skal der vist bare styr på kursen.... Kurs 1,65 er godt nok ikke meget. Jeg tror jeg nupper lidt for at sympatisere lidt med Aka som har det hårdt i disse dage ;)
Eitzen Maritime Services ASA is contemplating a bond issue directed
towards professional Norwegian and international investors.
Eitzen Maritime Services ASA has engaged First Securities ASA,
Fearnley Fonds ASA and Nordea Bank Norge ASA as Arrangers for this
bond issue.
The new senior unsecured bond issue is intended to be up to NOK 350 -
400 million, the majority of the issue is already pre-committed. The
proceeds from the issue will be used for refinancing of current debt
and general corporate purposes.
For further information:
Annette Malm Justad
Chief Executive Officer
Tel: +47 95 20 93 96
http://www.newsweb.no/newsweb/search.do?messageId=244925
9/9 2009 17:19 collersteen 118356 Så er det salg af obligationer i Eitzen Maritime Services ASA ordnet. Man kan dog ikke ligefrem se det på kursudviklingen i EMS idag. Men det kommer vel før eller siden. Som illikvid aktie skal der jo ikke meget til i hverken den ene eller anden retning. De sidste par dage har det så været den forkerte, men kig på chartet - det ser ud til at det blot er et spgm. om tid før der er 10-20% at hente.
Warning: Man bør vide før man evt. investerer i EMS at PI's egen Boris... (Akademikeren) er med i aktien.....
EMS: Bond issue completed
Eitzen Maritime Services ASA (EMS) announces the completion of a bond
issue totalling NOK 400 million in senior unsecured debt. The bond
issue was directed towards Norwegian and international investors and
was facilitated by First Securities ASA, Fearnley Fonds ASA and
Nordea Bank Norge ASA.
The new bond is partly fixed and partly floating interest rates and
matures in November 2012.
The bond issue establishes an even sounder financial platform for EMS
going forward and enables the group to continue its profitable
growth.
http://www.newsweb.no/index.jsp?messageId=245015
Warning: Man bør vide før man evt. investerer i EMS at PI's egen Boris... (Akademikeren) er med i aktien.....
EMS: Bond issue completed
Eitzen Maritime Services ASA (EMS) announces the completion of a bond
issue totalling NOK 400 million in senior unsecured debt. The bond
issue was directed towards Norwegian and international investors and
was facilitated by First Securities ASA, Fearnley Fonds ASA and
Nordea Bank Norge ASA.
The new bond is partly fixed and partly floating interest rates and
matures in November 2012.
The bond issue establishes an even sounder financial platform for EMS
going forward and enables the group to continue its profitable
growth.
http://www.newsweb.no/index.jsp?messageId=245015
Da jeg har Neptune Marine Services, skæver jeg også til konkurrenterne:
http://www.bairdmaritime.com/index.php?option=com_wisroyq&view=categ&id=15&Itemid=279&limitstart=20
http://www.bairdmaritime.com/index.php?option=com_wisroyq&view=categ&id=15&Itemid=279&limitstart=20
9/9 2009 23:56 Gjern 018400 Det gik jo meget hurtigt at få den finansiering på plads og så er der noget at arbejde med fremadrettet til fortsat at vækste forretningen.
De betaler tilbage på lånene fra opkøb jf. fra årsrapporten 2008 nedenfor og har vist sig at kunne tjene ind til det. De nye lån er formentlig også billigere end de gamle qua dagens renteniveau er lavere og det gør heller ikke noget, da de gamle var dyre - op til 9 % mener jeg at have læst.
Kopieret fra årsrapporten:
EMS is also affected by credit market risks. Our business is dependant on a good relationship with the financial
institutions and banks. EMS has a good platform of medium term financing through bond loan, bank loan and sellers
credit on a corporate level. However we do need to a certain extent renewing local credit lines in the local operations
during 2009. Our target is to establish local credit lines equivalent to up to one month revenue.
During 2009 EMS need to repay a total of USD 28.2 million to the banks and the sellers. On April 29th EMS repaid USD
16 million of the USD 40 million reducing revolving credit facility.
De betaler tilbage på lånene fra opkøb jf. fra årsrapporten 2008 nedenfor og har vist sig at kunne tjene ind til det. De nye lån er formentlig også billigere end de gamle qua dagens renteniveau er lavere og det gør heller ikke noget, da de gamle var dyre - op til 9 % mener jeg at have læst.
Kopieret fra årsrapporten:
EMS is also affected by credit market risks. Our business is dependant on a good relationship with the financial
institutions and banks. EMS has a good platform of medium term financing through bond loan, bank loan and sellers
credit on a corporate level. However we do need to a certain extent renewing local credit lines in the local operations
during 2009. Our target is to establish local credit lines equivalent to up to one month revenue.
During 2009 EMS need to repay a total of USD 28.2 million to the banks and the sellers. On April 29th EMS repaid USD
16 million of the USD 40 million reducing revolving credit facility.
14/9 2009 12:13 collersteen 018510 Ny ordre til Eitzen Maritime Services ASA.
Jeg skal ærligt indrømme at jeg ikke lige forstår hvordan det kan få den til at rykke så meget, men jeg er da jævnt tilfreds med (og ret overrasket over) at jeg fik solgt mine. Fra 1,65 til 1,88 på et par dage siger man ikke nej til. Nogle gange er illikviditet en ganske god ting.
EMS: New contracts totalling USD 10 million
http://www.newsweb.no/index.jsp?messageId=245202
Eitzen Maritime Services ASA today announced that its Ship Supply
division has been awarded
a delivery contract by the military services of an undisclosed NATO
country. Under the contract
EMS will provide logistics and sourcing services from its Dubai
operation. The contract is for
USD 5.0 million with a potential up to USD 10.0 million over the next
12 months. The contract
is for one year with a one year extension option. Deliveries will
commence in the fourth quarter
of 2009.
The Dubai operation earlier this month secured another USD 1.8
million in contracts for delivery
to military customers in the fourth quarter 2009.
Furthermore, EMS's Ship Supply division has been awarded a contract
for delivery of technical
products in the United States, Europe and Asia for an expected annual
value of USD 3 million to
a Nordic ship owner and operator. This is the first global supply
contract for EMS Ship Supply.
The contract is a strategically important step in the Group's
ambition to develop into a global
supplier to the world's merchant fleet.
EMS is a diversified maritime services group. The Ship Supply
division is the world leader in
ship supply and serves the merchant fleet, cruise and ferry fleets,
fishing vessels, naval vessels
and offshore installations around the world.
Jeg skal ærligt indrømme at jeg ikke lige forstår hvordan det kan få den til at rykke så meget, men jeg er da jævnt tilfreds med (og ret overrasket over) at jeg fik solgt mine. Fra 1,65 til 1,88 på et par dage siger man ikke nej til. Nogle gange er illikviditet en ganske god ting.
EMS: New contracts totalling USD 10 million
http://www.newsweb.no/index.jsp?messageId=245202
Eitzen Maritime Services ASA today announced that its Ship Supply
division has been awarded
a delivery contract by the military services of an undisclosed NATO
country. Under the contract
EMS will provide logistics and sourcing services from its Dubai
operation. The contract is for
USD 5.0 million with a potential up to USD 10.0 million over the next
12 months. The contract
is for one year with a one year extension option. Deliveries will
commence in the fourth quarter
of 2009.
The Dubai operation earlier this month secured another USD 1.8
million in contracts for delivery
to military customers in the fourth quarter 2009.
Furthermore, EMS's Ship Supply division has been awarded a contract
for delivery of technical
products in the United States, Europe and Asia for an expected annual
value of USD 3 million to
a Nordic ship owner and operator. This is the first global supply
contract for EMS Ship Supply.
The contract is a strategically important step in the Group's
ambition to develop into a global
supplier to the world's merchant fleet.
EMS is a diversified maritime services group. The Ship Supply
division is the world leader in
ship supply and serves the merchant fleet, cruise and ferry fleets,
fishing vessels, naval vessels
and offshore installations around the world.
