In defence of Canadian shipbuilding - Macleans.ca

On the same subject

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  June 12, 2018 | Local, Land, C4ISR

  Eurosatory: This navigation system by Safran doesn’t need GPS

  PARIS ― Safran Electronics & Defense unveiled June 12 at the Eurosatory trade show a range of military inertial navigation systems, dubbed Geonyx, aimed at equipping armored vehicles, target acquisition systems and artillery. The Geonyx INS range is a navigation tool designed to allow operators to find their position and aim weapons, a Safran ED executive told journalists. The system is intended to be highly reliable and independent of GPS, which can be jammed. Safran ED presented its Geonyx system to the Direction Générale de l'Armement procurement office and the French Army's Stat equipment assessment department on May 30. Geonyx could be fitted as a replacement of the Safran Sigma 30, which is fitted on the Nexter Caesar 155mm artillery. The resonance technology in the new INS range is “extremely disruptive,” the executive said. The Geonyx is smaller, highly reliable and at “a much lower price” than the Sigma 30, he added, however no price details were available. The three Geonyx models ― SP, HP and XP ― offer a rising level of performance, reflecting a range of operational requirements for an army. The systems are intended to be highly robust to withstand shock from artillery fire. An operational life of 10-15 years is expected, the executive said. Geonyx draws on technology developed on its Crystal gyroscope, an advanced hemispherical resonator gyroscope. The resonance technology will be applied to equipment for space, air, land and sea, both civil and military, Safran ED said in a statement. Northrop Grumman has developed its HRG system, which can be deployed in space. https://www.defensenews.com/digital-show-dailies/eurosatory/2018/06/08/eurosatory-this-navigation-system-by-safran-doesnt-need-gps/

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  July 25, 2023 | Local, Aerospace

  Canada orders more Airbus A330 tankers, hires firm to convert planes

  Canada’s contract with Airbus, which covers delivery of the four new A330s and conversion of the five used aircraft, is worth about $2.7 billion.

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  January 16, 2019 | Local, Naval

  Seaspan Announces Closing of Second $500 Million Investment by Fairfax Financial Holdings Limited

  HONG KONG, Jan. 15, 2019 /CNW/ - Seaspan Corporation (NYSE: SSW) ("Seaspan") announced today the closing of the second tranche of the $1 billion aggregate investment commitment by Fairfax Financial Holdings Limited and its affiliates (collectively, "Fairfax") in Seaspan. As with Fairfax's initial $500 million investment in Seaspan, and pursuant to definitive agreements entered into on March 13, 2018 and announced on March 14, 2018, this second tranche of funding (the "Second Fairfax Investment") is structured as a $250 million issuance of (i) 5.50% senior notes due 2026 and (ii) approximately 38.46 million warrants (the "2019 Warrants"). Pursuant to a definitive agreement entered into and announced on May 31, 2018, Fairfax has agreed to immediately exercise the 2019 Warrants at an exercise price of $6.50per warrant, for additional equity proceeds to Seaspan of $250 million. As a result, Seaspan's aggregate proceeds from the Second Fairfax Investment will be $500 million. This brings Fairfax's total investment in Seaspan to $1 billion, the proceeds of which will be used to fund future growth initiatives, repay debt and for general corporate purposes. With the closing of the Second Fairfax Investment, Fairfax's aggregate shareholdings in Seaspan are 76.9 million Class A common shares or approximately 36% of shares outstanding. Fairfax continues to hold the 25 million seven year warrants, with an exercise price of $8.05, which were issued to it on July 16, 2018. Summary of Fairfax Investments1 Investment Date Issued/Exercised Proceeds to Seaspan 2025 Notes February 14, 2018 $250 million 2018 Warrants July 16, 2018 $250 million 2026 Notes January 15, 2019 $250 million 2019 Warrants January 15, 2019 $250 million 1 Does not include the 25 million seven year warrants outstanding as of the date hereof David Sokol, Chairman of Seaspan Corporation commented, "The closing of this follow-on Fairfax investment bolsters Seaspan's balance sheet for the future. Seaspan's management team and Board of Directors are proud to continue building upon the strong partnership created with Fairfax. This additional investment will enhance Seaspan's ability to execute on our long-term goals of deleveraging, strengthening our balance sheet, and creating value through disciplined and thoughtful capital allocation." Prem Watsa, Chairman and Chief Executive Officer of Fairfax said, "With the closing of this investment, we are excited to expand our partnership with Seaspan, which now represents one of Fairfax's largest investments." About Seaspan Seaspan is a leading independent charter owner and operator of containerships with industry leading ship management services. We charter our vessels primarily pursuant to long-term, fixed-rate, time charters to the world's largest container shipping liners. Seaspan's operating fleet consists of 112 containerships with a total capacity of more than 900,000 TEU, an average age of approximately 6 years and an average remaining lease period of approximately 4 years, on a TEU-weighted basis. Seaspan has the following securities listed on The New York Stock Exchange: Symbol: Description: SSW Class A common shares SSW PR D Series D preferred shares SSW PR E Series E preferred shares SSW PR G Series G preferred shares SSW PR H Series H preferred shares SSW PR I Series I preferred shares SSWN 6.375% senior unsecured notes due 2019 SSWA 7.125% senior unsecured notes due 2027 SSW25 5.500% senior notes due 2025 About Fairfax Financial Holdings Limited Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Investor Inquiries: Mr. Matt Borys Investor Relations Seaspan Corporation Tel. +1-778-328-5340 Email: mborys@seaspanltd.ca SOURCE Seaspan Corporation https://www.newswire.ca/news-releases/seaspan-announces-closing-of-second-500-million-investment-by-fairfax-financial-holdings-limited-848167000.html