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 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 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 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 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
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)
Affiliates of Drew Marine (Drew Marine) completed of the previously announced acquisition of Chemring Group PLC’s (Chemring) maritime interests for cash consideration of £32 million. Under Drew Marine's ownership, the acquired business will be named Drew Marine Signal and Safety (DMSS). DMSS is the world's leading supplier of marine distress signals including handflares, manoverboard buoys, line-throwers and other required rescue products under established brands including Pains
On October 11, 2010, Konecranes announced that it had entered into an agreement to acquire the Indian crane company WMI Cranes Ltd. (“WMI”). Konecranes has now received the required regulatory approvals, and WMI will be consolidated into Konecranes’ financial reporting from February 1, 2011. The acquisition is expected to be slightly EPS accretive in 2011. Konecranes is acquiring WMI’s shares in two phases
DryShips Inc. announced that Primelead Limited, a wholly owned subsidiary of DryShips Inc., has effected a compulsory transfer of all remaining shares in Ocean Rig ASA and as a consequence of the compulsory transfer and cancellation of the treasury shares held by Ocean Rig ASA, Primelead Limited is owner of 100% of the shares in Ocean Rig ASA. As of July 10th, 2008 Primelead Limited controls 163,611,380 shares, equivalent to 100% of the shares and votes in Ocean Rig ASA
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
ITC Global, a leading provider of satellite communications to remote and harsh environments announce that it has launched a new corporate brand as the final step in bringing a series of recent acquisitions together as a single global company.
Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in
Reutrs - Australian marine logistics firm Mermaid Marine Australia Ltd. said on Tuesday it had agreed to buy the offshore businesses of Singapore's Jaya Holdings Ltd. for $495.96 million in cash to expand its international portfolio. Mermaid Marine
Reuters - Finnish gas company Gasum is to acquire 51 percent of Norwegian Skangass's distribution operations from Lyse Corporation as it seeks to improve the efficiency of its liquefied natural gas (LNG) network. Gasum said on Monday that the deal
Euronav today announced that the meeting of shareholders has approved a $300 million capital increase against issuance of 32,841,528 new shares to acquire 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million, as announced January 5
The McLean Group announced that it acted as the exclusive mergers and acquisitions (M&A) advisor to 3 Phoenix, Inc. (3 Phoenix) in its sale to Ultra Electronics Holdings plc (Ultra) for an initial cash consideration of $70 million. Additional payments of up to $17 million will be due subject
On April 1, 2013, VETUS joined the Yanmar group. Immediately after the acquisition both parties started working closely together on a project with the objective to realize a brand and distribution strategy for both Yanmar and VETUS. In December 2013 the results of this project were presented to
Eastern Shipbuilding Group, Inc. of Panama City, Fla. announced it has been selected as one of the three finalists to design the United States Coast Guard’s new Offshore Patrol Cutters (OPC). In accordance with the terms of the $22 million dollar Phase I finalist award cap
Acquisition Update: U.S. Coast Guard Awards Three Contracts for Offshore Patrol Cutter Preliminary and Contract Design. In a process that has come a long way since the early days of the Coast Guard's so-called "Deepwater" recapitalization efforts, the U.S
International law firm Ince & Co (Singapore) LLP represented Oro Negro in its international bond issuance, an offering of US$725-Million Notes due 2019. Partner Martin Brown described the issue as very good news for both the global high yield market and the oil services sector including the
Committee leaders today introduced bipartisan legislation that authorizes the U.S. Coast Guard (USCG) to carry out its vital missions, improves USCG mission effectiveness, helps replace and modernize aging Coast Guard assets in a cost effective manner, enhances oversight
In early January 2014, Euronav announced the acquisition of 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million (USD), the executive committee of Euronav NV now announce that it has issued a $235 million seven-year bond to
Fugro say they have been awarded two contracts to perform cable burial and survey operations at two wind farm sites in the UK. The first contract is for CT Offshore A/S at RWE Innogy's Gwynt y Môr Offshore Wind Farm located in Liverpool Bay off the North Wales coast
Speaking to investors, new Shell CEO Ben van Beurden updated on the company’s priorities: improving Shell’s financial results and achieving better capital efficiency, as well as continuing to strengthen operational performance and project delivery.
Applied Weather Technology, Inc. (AWT), announced the conclusion of an agreement with weather specialist company StormGeo under which the full shareholders stock in the company has been acquired by Norwegian basedStormGeo A/S. Following the acquisition