0000278041-12-000018.txt : 20120328 0000278041-12-000018.hdr.sgml : 20120328 20120328171739 ACCESSION NUMBER: 0000278041-12-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120326 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120328 DATE AS OF CHANGE: 20120328 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL SHIPHOLDING CORP CENTRAL INDEX KEY: 0000278041 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 362989662 STATE OF INCORPORATION: DE FISCAL YEAR END: 1028 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10852 FILM NUMBER: 12721405 BUSINESS ADDRESS: STREET 1: 11 NORTH WATER STREET STREET 2: SUITE # 18290 CITY: MOBILE STATE: AL ZIP: 36602 BUSINESS PHONE: 2512439100 MAIL ADDRESS: STREET 1: P.O. BOX 2004 CITY: MOBILE STATE: AL ZIP: 36652 8-K 1 form8k32612.htm FORM 8-K - MARCH 26, 2012 form8k32612.htm

UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


March 26, 2012
Date of Report (Date of Earliest Event Reported)


Commission file number  –  001-10852


INTERNATIONAL SHIPHOLDING CORPORATION
(Exact name of registrant as specified in its charter)


  Delaware                                                                  36-2989662                                
(State or other jurisdiction of                                                             (I.R.S. Employer Identification Number)
                           incorporation or organization)


11 North Water Street, Suite 18290                Mobile, Alabama                                        36602 
(Address of principal executive offices)                                                                           (Zip Code)


       (251) 243-9100                                                                           
(Registrant’s telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 [ ]  Written communications pursuant to Rule 425 under the Securities Act
 [ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
 [ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
 [ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
 
 

 
 
 

Item 2.01.    Completion of Acquisition or Disposition of Assets.

As previously announced on March 14, 2012, International Shipholding Corporation (the “Company”), through its wholly owned subsidiary LCI Shipholdings, Inc., completed the disposition of two International Flag Pure Car Truck Carriers to Norwegian Car Carriers ASA  (“NOCC”) on March 26 and 27, 2012.  The Company received proceeds totaling $73.9 million for the sale of the two vessels.
 
In connection with the sale of the aforementioned vessels, the Company, through its wholly owned subsidiary LMS Shipmanagement, Inc. (“LMS”), entered into a ship management agreement with NOCC, whereby, LMS, as ship managers, will continue to provide technical and crew management for both vessels.
 

 
 
Item 9.01.    Financial Statements and Exhibits.

(c)  
Exhibit
 
Exhibit Number          Document
99.1  
Press Release dated March 28, 2012



 

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

INTERNATIONAL SHIPHOLDING CORPORATION

/s/ Manuel G. Estrada
_____________________________________________
Manuel G. Estrada
Vice President and Chief Financial Officer


Date   March 28, 2012

 EX-99.1 2 exhibit991release32812.htm EXHIBIT 99.1 - PRESS RELEASE MARCH 28, 2012 exhibit991release32812.htm
 
Exhibit 99.1


INTERNATIONAL SHIPHOLDING ANNOUNCES CLOSING
OF SALE OF TWO PURE CAR TRUCK CARRIERS


Mobile, Alabama, March 28, 2012 – International Shipholding Corporation (NYSE: ISH) today announced that the sales of two of its International Flag Pure Car Truck Carriers, ASIAN KING and ASIAN EMPEROR, pursuant to its previously disclosed agreement with Norwegian Car Carriers ASA, were successfully closed and the vessels were delivered to Norwegian Car Carriers ASA on March 26 and 27, 2012.  This transaction realizes a reportable gain of approximately $3.5 million in the first quarter. Proceeds paid down debt of about $35 million collateralized by these vessels and will strengthen ISH’s position to pursue accretive growth opportunities. DnB NOR Markets, Inc. acted as exclusive advisor to the Company.


About International Shipholding Corporation
 
International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of U.S. and international flag vessels that provide worldwide and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term charters and contracts.

For more information about the company, please visit www.intship.com.


Contact:

The IGB Group
David Burke
(646) 673-9701
dburke@igbir.com
Leon Berman
(212) 477-8438
lberman@igbir.com

International Shipholding
Niels M. Johnsen, Chairman (212) 943-4141
Erik L. Johnsen, President (251) 243-9221