Scorpio Group tar over Nordic American Offshore Ltd, blir Hermitage Offshore Services Ltd.

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Nordic American Offshore Ltd. (NYSE: NAO) – Contemplated business combination with Horizon Maritime of Canada

Nordic American Offshore Ltd (NYSE: NAO) is pleased to announce it has entered into a Memorandum of Understanding (MOU) which contemplates a combination with Canada based Horizon Maritime Services Ltd.

Canadian businessman and investor Mr John Risley and his companies are supporting the transaction.

Subject to due diligence and the execution of a binding agreement within October 31, 2018, NAO shareholders will own 48% of the resulting business and Horizon shareholders 52 %. In NAO, Mr Herbjorn Hansson and the NAO Board of Directors, are the driving force.

Hansson will remain Chairman & CEO of the combined company. Horizon Maritime will maintain its organization and brand in Canada under the leadership of it’s current CEO, Mr Sean Leet. Inherent in the transactions are an objective of strong expansion which can be expected to take place soon. The combined company is expected to be operational before the end of this year.

“The two companies are geographically complementary with focus on each side of the North Atlantic basin” commented Mr Risley and Mr Hansson.
Mr Risley said he was looking forward to offering the combined fleet to clients in Canada and elsewhere and build a more extensive operation. “The combined company has ambitions to increase the size and scope of the fleet going forward”, he added.

NAO is a Bermuda-based company listed on the New York Stock Exchange. It owns and operates a fleet of 10 identical harsh environment offshore support vessels designed and built with the latest technology available. From operating offices in Norway and elsewhere NAO is positioned to support a global business and take advantage of the expected upturn in oil service activity in the North Sea and globally.

Horizon Maritime is a Canadian company operating a fleet of 7 vessels with deep experience in harsh environment marine and offshore operations. With offices across the country Horizon Maritime helps solve the unique challenges of operating in Canadian waters and is well positioned for the increased offshore activity in Canada in the coming years.

Clarksons Platou Securities is acting as financial advisor to the parties.
 

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Monaco-rederi tar over Nordic American Offshore

Spytter inn penger og tar over flere toppstillinger. - Jeg tror NAO har alle de nødvendige egenskapene for å lykkes, sier den nye toppsjefen.

Scorpio Group har tatt kontroll over Herbjørn Hanssons offshorerederi Nordic American Offshore (NAO) etter å ha gått inn med fem millioner dollar, eller rundt 43 millioner kroner, i en rettet emisjon.

Det kommer frem i en melding onsdag.

Transaksjonen der Clarksons Platou Securities var finansiell rådgiver, innebærer at Scorpio-konsernets konsernsjef Emanuele Lauro går inn som ny konsernsjef og styreleder i offshorerederiet.

Også Scorpios president Robert Bugbee og driftsdirektør Camron Mackay går inn i tilsvarende roller i NAO.

Hansson trekker seg fra både ledelse og styret og kan dermed rette fokuset mot tankrederiet Nordic American Tankers. Marianne Lie går ut av ledelsen, men beholder plassen i styret.

Les meir på sidene til Hegnar.no
 

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Har kommet til enighet med långivere - kjøper skip

Skal refinansiere og kjøpe 13 skip

Offshorerederiet Nordic American Offshore (NAO) som inntil nylig var kontrollert av den Sandefjord-baserte skipsrederen Herbjørn Hansson, har omsider kommet til enighet med sine långivere, opplyses det i en melding.

Det skjer etter at offshorerederiet i en lengre periode har vært i brudd med lånebetingelsene i en kredittfasilitet på 150 millioner dollar. Selskapet har flere ganger fått forlenget fritak fra lånebetingelsene.

I meldingen opplyses det at NAO har inngått en avtale med långiverne, som med visse vilkår, innebærer fritak fra lånebetingelsene frem til 31. januar 2020.

Videre har långiverne forpliktet seg til å gi en ny kredittfasilitet på 132,9 millioner dollar for å refinansiere kredittfasiliteten på 150 millioner dollar. Utestående balanse på kredittfasiliteten er i dag 132,9 millioner dollar.

Kjøper skip
Som en del av avtalen vil NAO også kjøpe 13 skip fra Scorpio Offshore, til en pris på om lag 22,6 millioner dollar, med betaling i aksjer.

- I dag markerer en ny begynnelse for Nordic American Offshore. Med forpliktelse fra både långivere og største aksjonærer, gjør vi betydelige handlinger for å redusere gjeld, og for å synliggjøre vår likviditet og gjeldsprofil, sier NAO-sjef Emanuele A. Lauro.

Lauro sier videre at rederiet nå får sårt trengt finansiell og operasjonell fleksibilitet i en tid hvor offshore-markedet viser tegn til bedring.

- I mai vil vi ha hele flåten på 10 plattform forsyningsskip (PSV) i drift til rater som er betydelig høyere enn for et år siden, sier han.

Kilde: Hegnar.no
 

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Som en del av avtalen vil NAO også kjøpe 13 skip fra Scorpio Offshore, til en pris på om lag 22,6 millioner dollar, med betaling i aksjer.

2x AHTS
"SOi Baron" (ex. "Sanko Baron")
"SOi Brilliance" (ex. "Sanko Brilliance")

11x Crewbåter
"Petrocraft 1605-1" til "Petrocraft 1605-5"
"Petrocraft 1905-1"
til "Petrocraft 1905-4"
"Petrocraft 2005-1"
til "Petrocraft 2005-1"

Petro Services
 

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Kjøpet er visstnok nå gjennomført, noken som veit kva evt. nye namn desse får?
 

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Nordic American Offshore Ltd. har skifta namn til Hermitage Offshore Services Ltd.
 

Ko R

Active Member
NAO Horizon is renamed Hermit Horizon
NAO Thunder is renamed Hermit Thunder
NAO Protector is renamed Hermit Protector
SOI Baron is renamed Hermit Baron
hermitage.jpg


The other NAO vessels will be renamed soon as the SOI Brilliance will be renamed
 

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"Hermit Protector" inn til Aberdeen i går



Begge foto: David Dodds
 

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"Hermit Procector" flagges ut til UK samtidig som "Hermit Galaxy" og "Hermit Horizon" flagges til NOR
 

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"Hermit Prosper" sailer ut av Aberdeen Havn forrige Søndag
Hermit Prosper 1.JPG

Hermit Prosper 2.JPG
Begge foto: David Dodds
 

patagonia

Member
Lauro-led OSV operator sells two AHTs, files for Chapter 11

Written by Nick Blenkey

August 12, 2020

At 9.02 a.m. ET yesterday, Emanuele Lauro led Hermitage Offshore Services Ltd. (NYSE:pSV) reported that it had sold its only two anchor handling tug supply vessels, Then, at 10.56 p.m., the company and 28 subsidiaries announced they had filed petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.

In announcing the sale of the AHTS duo, Hermitage said that the consideration for the transaction consisted of its unconditional release of all of its obligations under a $9.0 million term loan facility with DVB Bank SE. Its fleet now consists of 10 PSVs and 11 crew boats.

Hermitage Offshore’s vessels operate operate in the North Sea and the West Coast of Africa.

The company began life as Nordic American Offshore, set up in December 2013 by Herbjørn Hansson’s Nordic American Tankers. It came under the control of Emanuele Lauro’s Scorpio Group in 2018.

The company says its filed for Chapter 11 following “a prolonged slump in global oil prices, driven in part by the global coronavirus pandemic, and its effect on the company’s business.”
It adds that “while the company would have preferred to complete its financial restructuring out of court, it was unable to reach a consensual agreement with its lenders, which made filing Chapter 11 necessary to provide a single forum for all continuing conversations with its lenders.”

Hermitage says it “anticipates that the company’s business operations and relationship with its customers and vendors will not be adversely affected by this proceeding while it works constructively with its lenders toward a consensual resolution.”

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