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Completes Acquisition

U.S. Shipping Partners Completes Acquisition

U.S. Shipping Partners announced has completed its recently announced acquisition of the Sea Venture, a 19,000 dwt double-bottomed chemical/product tanker. The vessel was re-built in 1983 and is capable of carrying twenty different grades of product in independent cargo tanks. The vessel is being placed in drydock and will be available for trading in April 2006. The transaction was financed utilizing available cash.


Chemoil Completes Acquisition

Chemoil has fully acquired Allround Fuel Trading Chemoil B.V. (AFT). Chemoil had previously acquired a fifty percent stake in AFT during 1998 and recently announced that it has entered into an agreement to acquire another 50 percent stake in AFT. Following this acquisition, AFT will become a wholly owned subsidiary of Chemoil and will be renamed as Chemoil Europe BV.


Acteon Completes Acquisitions

Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS) and Chain Corporation International (ChainCo). David Currie will continue to lead Seatronics; and Alan Duncan will head IMS and ChainCo. Both will report to Acteon Vice President Bernhard Bruggaier. The activities of IMS and ChainCo are very much in line with existing Acteon companies InterMoor and Trident – the two new companies will


Cal Dive Completes Acquisition of Horizon

Cal Dive International, Inc. announced has completed its acquisition of Horizon Offshore following approval by Horizon's shareholders on December 10, 2007. As a result of the acquisition, each share of Horizon common stock has been converted into the right to receive $9.25 in cash and 0.625 shares of Cal Dive common stock. Information regarding the exchange of share certificates will be sent to Horizon shareholders as soon as practicable.


Nordic American Tankers Acquires Scandic American Shares

Nordic American Tankers Ltd. ("NAT") Completes Acquisition of Scandic American Shipping Ltd., the Business Manager of NAT.   On December 17, 2012 NAT (NYSE: NAT) announced that it had acquired 100% of the shares of Scandic American Shipping Ltd. ("Scandic"), its management company since 2004. This transaction has now been completed. The Company acquired Scandic from a company controlled by Herbjørn Hansson, NAT's Chairman and CEO, and his closest family


Clarksons Post Robust 2H Performance

Courtesy Clarksons

  Clarkson PLC, world’s leading shipping services group, reported robust performance during the six months ended 30th June 2015. Summary  Robust performance despite continued challenging market conditions in some of our markets  Strong performance from broking division in tankers, specialised products and gas markets  Clarksons Platou Securities completed a number of significant transactions with pipeline looking strong for the second half of 2015


CP Ships and Dannebrog Agree To End Nordana Acquisition

CP Ships and Dannebrog have decided not to proceed with the planned acquisition of Nordana Line by CP Ships. In the month since the acquisition plan was announced on November 14, further discussions revealed a number of issues that prevented the transaction from being completed to both parties' satisfaction. CP Ships remains committed to its strategy of making selective acquisitions to reinforce its position in its principal regional markets.


United Defense Completes Acquisition of Honolulu Shipyards Assets

United Defense Industries, Inc. has completed its acquisition of the U.S. Navy ship repair business of Honolulu Shipyard Inc. (HSI) for $16.1 million. HSI had revenues of $40 million in 2003. The new company, Hawaii Shipyards, Inc., will continue to partner with Southwest Marine (SWM), a unit of United States Marine Repair (USMR), a UDI subsidiary. The Company recently announced a teaming agreement with Bath Iron Works, a subsidiary of General Dynamics, for work on the USS CHAFEE (DDG 90)


Aker Sells Mooring and Loading Unit to MacGregor

Photo: Aker Solutions

Cargotec's MacGregor has completed the acquisition of the mooring and loading systems unit from Aker Solutions. Cargotec announced the agreement to acquire the unit in October 2013 for an enterprise value of approximately €180 million. The unit will be consolidated into MacGregor's results as of February 1, 2014. "The addition of the mooring and loading systems' team members, technologies and products further positions MacGregor as a true leader in the marine and offshore


Dynagas LNG Completes Acquisition of Arctic Aurora

Dynagas LNG Partners LP

  Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214


Seanergy Acquires 7 Bulk Ships

Seanergy Maritime Holdings Corp. announced today that it has entered into a purchase agreement to acquire seven secondhand dry bulk vessels, consisting of five Capesize and two Supramax vessels, for a gross purchase price of approximately $183 million.  


DP World H1 Earnings Jump, Mulls Iran launch

DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company. Customer demand will dictate what it will spend on developing port facilities on the Caspian Sea


DP World Profit Up 22%

DP World Chairman, Sultan Ahmed Bin Sulayem

  Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015, delivering profit attributable to owners of the Company before separately disclosed items of $405 million, up 21


TASI Acquires SignalFire Telemetry

John T. McKenna, President and CEO at TASI Group

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition is strategic to the growth model of TASI, and adds an exciting new wireless communication component to TASI’s Founded in


Matson Pumps $30 Million into Alaska Operations

Photo: Matson

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services. The company expects to invest more than $30 million in new equipment planned by Horizon prior to its acquisition.


Oceanteam Acquires Oceanwind

Photo: Oceanteam

 Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions.   As a result of the acquisition the company’s name will be changed to Oceanteam Cable Solutions


Matson Declares 2Q EPS Of $0.23

Photo Matson, Inc.

  Matson, Inc., a U.S. carrier in the Pacific, reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015.  The company said its second quarter results were negatively impacted by $13.5 million of additional selling


Teekay Acquires 12 Suezmax Tankers

Photo: Principal Maritime

Teekay Tankers Ltd. announced it has agreed to acquire a fleet of 12 modern Suezmax tankers currently owned by Principal Maritime Tankers, a portfolio company of funds managed by affiliates of Apollo Global Management, LLC, for an aggregate purchase price of $662 million.  


EMGS Bags Malaysian Award for BOA Thalassa

CEO of EMGS, Bjarte Bruheim

  Electromagnetic Geoservices ASA (EMGS) has received a letter of award (LOA) for a contract worth approximately USD 4.2 million from an oil company for 3D EM data acquisition over their operated area in Malaysia. The two parties have entered into a two-year contract


Kobelt Acquires Accu-Steer

Hydraulic Power Steering System

  Manufacturer of quality hydraulic steering actuators will join Kobelt to expand marine system offerings. Kobelt announced today the acquisition of Accu-Steer Inc., a US-based manufacturer of quality Hydraulic Steering Actuators.


Sulzer Appoints Dittrich as Interim CEO

Thomas Dittrich as Interim CEO

  The Board of Directors of Sulzer was surprised to hear of Klaus Stahlmann's personal decision to step down as CEO of Sulzer AG. The Board of Directors acknowledges Mr. Stahlmann's contribution to Sulzer's realignment, but in the interests of maintaining clarity and focus on the management


Pon Holdings Acquires Imtech Marine

Pic: Imtech Marine

 Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market.   Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition


Allcargo Acquires 2 Vessels for Coastal Operations

Allcargo Leela

  Allcargo Logistics has announced the acquisition of two additional vessels aggregating 24000 DWT. for its coastal shipping business. Post this acquisition Allcargo now owns a total of five cargo vessels making it one of the largest players in the logistics industry


Viking Acquires Hook Retrofit leader

Henrik Uhd Christensen, CEO, VIKING Life-Saving Equipment

  Leading marine and fire safety equipment and servicing provider VIKING Life-Saving Equipment A/S has today announced the acquisition of Nadiro A/S, a company owned by maritime and energy conglomerate Maersk Group and SH Group. Established in 2009, Svendborg


Viking Acquires Nadiro from Maersk Group

(Photo: VIKING)

Marine and fire safety equipment and servicing provider VIKING Life-Saving Equipment A/S announced the acquisition of Nadiro A/S, a company owned by maritime and energy conglomerate Maersk Group and SH Group.   Established in 2009, Svendborg






 
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