Ocean Alliance definition
Examples of Ocean Alliance in a sentence
For operations under the slot exchange, the Parties recognize that, as to the PRX/AAS2/AC6/CP3, terminals and other landside services are decided by CMA CGM pursuant to the Ocean Alliance Agreement (FMC No. 012426).
For operations under the slot exchange, the Parties recognize that, as to the PRX/AAS2/AC6/CP3, terminals and other landside services are decided pursuant to the Ocean Alliance Agreement (FMC No. 012426).
The Parties may, however, discuss matters relating to such terminals, subject to decision by the Ocean Alliance.
The Parties are authorized to exchange space between the joint service described above and space COSCO SHIPPING is entitled to use on a service in the Trade operated by CMA CGM pursuant to the Ocean Alliance, currently known as the PRX/AAS2/AC6/CP3, and, as information only, with an initial port rotation of Fuzhou-Nansha-Hong Kong-Yantian-Xiamen-Los Angeles-Oakland-Fuzhou.
The lease-leaseback agreement provides for the Company to lease the Ocean Alliance, one of the Company's high specification semisubmersible drilling rigs, to the bank for a lump-sum payment of $55.0 million plus an origination fee of $1.1 million and for the bank to then sub-lease the rig back to the Company.
Evergreen is part of the Ocean Alliance, consisting of COSCO SHIPPING Lines Co., Ltd., Orient Overseas Container Line Limited, Evergreen, and CMA CGM S.A., which reportedly collectively controls about 35.8% of global container capacity.
On the Initial Borrowing Date, the Borrower and its Subsidiaries taken as a whole shall own and operate a fleet of offshore drilling rigs, including (without limitation) the Ocean America (Official No. 940969), Ocean Alliance (Patent No. 20836-93), Ocean Valiant (Official No. 933307), Ocean Star (Patent No. 24891-PEXT), Ocean Quest (Patent No. 3657-73-H), Ocean Clipper (Patent No. 18882-90- C) and Ocean Victory (Patent No. 2980-72-G).
Ocean Alliance Lease-Leaseback In December 2000 the Company entered into a lease-leaseback agreement with a European bank.
INTEREST RATE RISK The Company's financial instruments subject to interest rate risk include the Zero Coupon Debentures, the 1.5% Debentures, the Ocean Alliance lease-leaseback and investments in debt securities, including U.S. Treasury and other U.S. government agency securities, treasury inflation-indexed protected bonds ("TIP's") and collateralized mortgage obligations ("CMO's").
The $24.0 million increase in contract drilling expense resulted primarily from operating costs generated by the Ocean Victory, the Ocean Clipper, and the Ocean Star upon completion of their upgrades and from costs associated with the mandatory inspections of the Ocean Valiant and the Ocean Alliance completed during 1998.