Quarterly report pursuant to Section 13 or 15(d)

Investments, At Equity, And Advances To 50% Or Less Owned Companies

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Investments, At Equity, And Advances To 50% Or Less Owned Companies
6 Months Ended
Jun. 30, 2015
Equity Method Investment, Summarized Financial Information [Abstract]  
Investments, At Equity, And Advances To 50% Or Less Owned Companies
INVESTMENTS, AT EQUITY, AND ADVANCES TO 50% OR LESS OWNED COMPANIES
MexMar. MexMar operates offshore support vessels in Mexico. During the six months ended June 30, 2015, the Company and its partner each contributed additional capital of $7.9 million in cash to MexMar. In addition, during the six months ended June 30, 2015, MexMar repaid $15.0 million of seller financing provided by the Company.
OSV Partners. OSV Partners owns and operates five offshore support vessels. During the six months ended June 30, 2015, the Company contributed additional capital of $1.4 million in cash to OSV Partners. During the six months ended June 30, 2015, the Company sold one offshore support vessel for $14.3 million to OSV Partners.
Falcon Global. On August 1, 2014, the Company and Montco Global, LLC formed Falcon Global LLC ("Falcon Global") to construct and operate foreign-flag liftboats. The Company has a 50% ownership interest in Falcon Global. During the six months ended June 30, 2015, the Company and its partner each contributed additional capital of $9.9 million in cash to Falcon Global.
SCFCo. SCFCo was established to operate towboats and dry-cargo barges on the Parana-Paraguay Rivers in South America and a terminal facility at Port Ibicuy, Argentina. During the six months ended June 30, 2015, the Company and its partner each contributed additional capital of $3.0 million in cash to SCFCo. As of June 30, 2015, the Company had outstanding loans and working capital advances to SCFCo Holdings of $31.7 million.
Bunge-SCF Grain. Bunge-SCF Grain operates a terminal grain elevator in Fairmont City, Illinois. During the six months ended June 30, 2015, Bunge-SCF Grain repaid $2.0 million of working capital advances to the Company. As of June 30, 2015, the total balance of working capital advances outstanding was $7.0 million.
SCF Bunge Marine. SCF Bunge Marine provides towing services on the U.S. Inland River Waterways, primarily the Mississippi River, Illinois River and Ohio River. During the six months ended June 30, 2015, the Company received dividends of $2.5 million from SCF Bunge Marine.
Dorian. Dorian owns and operates foreign-flag VLGC's servicing the international Liquefied Petroleum Trade. During the six months ended June 30, 2015, the Company sold 150,000 shares of Dorian for $2.3 million in cash reducing the Company's ownership to 15.88%. As of June 30, 2015, the Company's carrying value of its investment in Dorian was $140.7 million and its fair value was $153.1 million based on the quoted market price.
Trailer Bridge. Trailer Bridge is an operator of U.S.-flag deck and RORO barges offering transportation services between Jacksonville, Florida, San Juan, Puerto Rico and Puerto Plata, Dominican Republic. During the six months ended June 30, 2015, Trailer Bridge repaid $15.5 million of bridge financing provided by the Company.
SEA-Access. SEA-Access owns and operates a U.S.-flag crude tanker. During the six months ended June 30, 2015, the Company received dividends of $3.9 million and capital distributions of $2.9 million from SEA-Access.
SeaJon. SeaJon owns an articulated tug-barge operating in the Great Lakes trade. During the six months ended June 30, 2015, the Company received dividends of $0.6 million from SeaJon.
SeaJon II. SeaJon II owns a U.S.-flag offshore tug on time charter to Trailer Bridge. During the six months ended June 30, 2015, the Company and its partner each contributed additional capital of $1.0 million in cash to SeaJon II.
Avion. Avion is a distributor of aircraft and aircraft related parts. During the six months ended June 30, 2015, Avion repaid $3.0 million of loans provided by the Company. As of June 30, 2015, the Company had no outstanding loans to Avion.
VA&E. On June 1, 2015, the Company contributed its 81.1% interest in the assets and liabilities of a previously controlled and consolidated subsidiary that operated its agricultural commodity trading and logistics business (including $3.5 million of cash on hand) in exchange for a 41.3% ownership interest in each of VA&E Trading USA LLC and VA&E Trading LLP (collectively "VA&E"), two newly formed 50% or less owned companies with certain subsidiaries of Ecom Agroindustrial Corp. Ltd. and certain managers of VA&E. VA&E primarily focuses on the global origination, trading and merchandising of sugar, pairing producers and buyers and arranging for the transportation and logistics of the product. As a consequence of the change in control, the Company recognized equity in earnings of 50% or less owned companies of $0.1 million, net of tax, related to marking its investments in VA&E to fair value. In addition, the Company provides an unsecured revolving credit facility to VA&E for up to $6.0 million. During the six months ended June 30, 2015, VA&E borrowed $1.8 million and repaid $2.0 million on the revolving credit facility. As of June 30, 2015, the outstanding balance on the revolving credit facility was $1.2 million.
Guarantees. The Company has guaranteed the payment of amounts owed under a vessel charter by one of its 50% or less owned companies, a construction contract for one of its 50% or less owned companies and amounts owed under banking facilities by certain of its 50% or less owned companies. As of June 30, 2015, the total amount guaranteed by the Company under these arrangements was $91.3 million. In addition, as of June 30, 2015, the Company had uncalled capital commitments to two of its 50% or less owned companies totaling $1.4 million.