|all in costs down to 1264 USD per Oz|
|Anyone know anything about WEIR (yes, I know I'm asking on the HMY thread)?|
I've not given up hope,
until the cheque arrives ...
13/01/12 - Deutsche Bank ... 10.38%
18/01/12 - Barclays Plc ..... 6.07%|
|Piedro, come on - as if I didn't feel bad enough already at losing this brilliant little company - you just keep rubbing salt in my wounds. Don't take it personally please but I'm going to stop looking, I can't bear it any more. :-)|
|at the risk of criticism ....
Hamworthy secures further ethylene carrier work in China
Friday, 20 January 2012
Hamworthy Oil & Gas Systems has continued the major advance in China's broadening gas carrier construction sector by securing more contracts for delivery of complete cargo handling systems to two liquid ethylene gas (LEG) carriers to be built at Sinopacific Offshore & Engineering Co. Ltd (SOE) in Nantong.
The 12,000m3 capacity, 139m long semi-pressurised and refrigerated LEG carriers, will be incorporated in the ongoing project for the construction of six ships ordered by Luxembourg-based Jaccar Holdings/Eitzen Ethylene Carriers. The owner is to operate under a new name, Evergas, and the new ships will be built in accordance with Sinopacific's 'Tiger' design. Delivery is scheduled from this year onwards.
The contract follows systems for the first six LEG carriers in the 'Tiger' series Hamworthy signed with Sinopacific towards the end of 2010. Scope of delivery for the newbuildings again covers engineering and the supply of cargo handling systems, including reliquefaction plant and Hamworthy Svanehøj deepwell cargo pumps. .... ....
|Shareholders of Hamworthy voted in favour of acquisition by Wärtsilä Corporation
Tuesday, 10 January 2012 | 00:00
Wärtsilä is pleased to announce that, at both the Court Meeting and General Meeting of Hamworthy plc held earlier today in relation to Wärtsilä's recommended acquisition of Hamworthy by way of Scheme of Arrangement, all the resolutions proposed received the strong support of Scheme Shareholders.
At the Court Meeting, a majority in number of Scheme Shareholders who voted (either in person or by proxy) and who together represented over 75% by value of the votes cast, voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed. At the General Meeting, the special resolution to approve certain matters necessary to implement the Scheme were also passed by the requisite 75% majority.
The proposed acquisition has received clearance from German and Norwegian antitrust authorities and the relevant condition in the offer announcement has therefore been satisfied. Completion of the Acquisition remains subject to the satisfaction or waiver of the other Conditions, including the Court sanctioning the Scheme and confirming the associated Reduction of Capital at Court hearings which are expected to take place on 26 January and 30 January 2012 respectively. Subject to the Scheme and the associated Reduction of Capital receiving the sanction and confirmation of the Court on those dates, the Scheme is expected to become effective on 31 January 2012.
Björn Rosengren, CEO, Wärtsilä Corporation, commenting on the results of the vote, said:
"We are delighted that the shareholders of Hamworthy have voted in favour of the Scheme. We believe strongly that by combining our resources with Hamworthy, we will be able to broaden and enhance our capabilities in rapidly evolving offshore, marine gas application, and environmental solutions markets. We welcome the management and employees of Hamworthy to Wärtsilä and look forward to combining our expertise and experience for the benefit of our customers around the globe."
|... scrubber contract ...
Hamworthy Krystallon, HHI Contract for Scrubber System
January 09, 2012, 7:43 AM
Solvang ASA, through Hyundai Heavy Industries, orders system for 84,000 cbm LPG carrier as three-year countdown to 2015 ECA approaches
|They're probably looking to make a loss for tax purposes.|
|running out of time for another bidder but fat lady hasn't sung yet|
|Punters paying over £8.25 is it arbitrage or is it arbitrage + the loan notes with LIBOR at just over 1.13% so might see share price go to £8.34? Or another bidder?|
|First Eagle still buying!
I'm tracking the rest of their holding on the WAM thread
|Wärtsilä CEO Addresses Challenges, Opportunities
By Henrik Segercrantz
Monday, December 19, 2011,
.... We can help our clients to fulfil existing and coming regulations, both on the ballast water side and what comes to emissions. This is an important area for us, and an area in which we will invest much and where we see much potential." How big can this sector become, for you? "We do not have exact data on that yet. We know that on the ballast water side, between 60,000 and 70,000 vessels have to be converted, according to a North-American consulting company. If we look at the cost which has to be invested on each of these vessels, it is between half a million and four million US dollars, we talk about very much money. On the emission side the numbers are even bigger, but over a longer time frame. The ballast water side is to come first." Wärtsilä has indeed the right structure for this mega-size conversion process ahead, to provide the new equipment needed onboard the world fleet. The group has service centres at 160 locations and more than 7,000 service technicians placed globally. .... ....
|How very interesting as UBS are Wartsila's brokers. maybe someone is sniffing around.|
|... for whom is/are Deutsche Bank AG buying?
...Date........... + ....... Holding ..... %
12/12/2011..... 249,223.... 4,456,362.... 9.82
08/12/2011..... 192,388.... 4,207,139.... 9.26
07/12/2011..... 739,782.... 4,014,751.... 8.84
23/11/2011... 1,388,755.... 3,274,969.... 7,21
22/11/2011....... < 3% .... 1,886,214.... 4.15|
|Surely it would have happened by now before the offer dcuments are sent out. There are always a few gamblers around and as I pointed out originally the downside is 825. Anyway the price has been weakening, from memory it peaked at about 835.|
|I agree, Wartsilla are getting a bargain, but why is the share price above the offer if a counter bid is unlikely?|
|what a shame this company is being taken over especially at such a low price. Does anyone know of a similar company?|
|I would have thought it make take some time to put together a proper counter bid so the delay seems innocuous enough to me. What do I know though?|
|I agree. unfortunately a better offer is looking less likely as the days go by.|
|good spot Piedro, it's not even on HMY web site yet. The company has poured a lot of R&D money into getting the technology they acquired with Greenships to work. It's a real bummer that shareholders are seeing this disappear along with all their other innovative technology. Still hoping for a better offer though.|
|Hamworthy Develops New Ballast Water Solutions
Tuesday, November 29,
2011Ratification of the IMO's Ballast Water Management Convention is widely anticipated within the next 12 months. As a consequence, ship owners are evaluating as a matter of some urgency which ballast water treatment technology is best suited to both their existing and new ships. Recognizing that no one solution will be suitable across all ship types, sizes and environmental conditions, Hamworthy's dedicated ballast water research and development team has developed two different treatment solutions to provide customers with greater flexibility and choice. The product range is referred to as AQUARIUS.
Dr Joe Thomas, Managing Director, Hamworthy Ballast Water Systems points out: "We are currently the only OEM offering a choice of ballast water treatment solutions to both the new build and retrofit markets. We believe this gives our customers every confidence that by working with Hamworthy they will be able to find the technology best suited to their particular needs. "The AQUARIUS -UV system is a two stage approach with filtration followed by disinfection using ultraviolet light, and so does not use any active substance. As there is no detrimental effect on water quality, ballast water can be safely discharged from the ballast tank at any time. Furthermore, to ensure maximum disinfection, UV treatment is utilised during the discharge cycle, as well as on ballasting.
In developing the AQUARIUSTM -UV system, Hamworthy has formed a strategic partnership with UK-based Hanovia, a specialist in UV system design and manufacturing. Hamworthy has assumed overall responsibility for performance compliance against the required regulatory standards, with the UV system being an essential component to integrate with Hamworthy's ballast water management solution. Hamworthy is also marketing its AQUARIUSTM -EC Ballast Water System, which similarly employs a two stage approach, but in this case disinfection using an active substance, generated using side stream electro-chlorination. Hamworthy is collaborating with Magneto Special Anodes for the development of advanced electrolysis technology. Upon de-ballasting, the system neutralises any remaining active substance using sodium bisulfite, ensuring that the ballast water can be safely discharged back to the sea. Dr Thomas says: "Both systems provide a robust solution for the treatment of ballast water across a range of challenging ship operating end environmental conditions, exceeding the required IMO standards. We have also adopted a modular approach to system design in both cases so that equipment can be flexibly arranged to suit conditions onboard. Furthermore, both the AQUARIUS systems are designed and supplied to treat ballast water across a full range of ballast pump sizes."
|Piedro, yes I'm afraid HMY is going to be bought out. The directors have agreed a bid so the only way the takeover will fail is if the majority of shareholders don't accept. I can't see that happening as the Institutions aren't known for their reluctance to take a profit. They may hold back though to see of there's a better offer. I'm doing just that too.|
|The market says there'll be a counter bid so it's all to the upside. We shall see.|
|Are we really going to be bought out?
Took some profits in case we see £6 again.|