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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.


Statoil Buys into Brazil’s Santos Basin

Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8     Statoil and Petrobras have completed their previously announced transaction, whereby Statoil has acquired Petrobras’ 66 percent operated interest of the BM-S-8 offshore license in Brazil’s Santos basin.   BM-S-8 contains a substantial part of the Carcará pre-salt oil discovery.  


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.


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)


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


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


Taylor to head Trojan Battery's Global Workforce

Trojan Battery Co., LLC, the world’s leading manufacturer of deep-cycle batteries, has named Phillip Taylor as senior vice president, and chief human resources (HR) officer to lead the company’s global workforce of more than 1,000 employees


McDermott Acquires New Pipelay and Construction Vessel

Photo: McDermott

McDermott International, Inc. announced it has acquired the newly built pipelay and construction vessel Amazon to better position the company for ultradeepwater and SURF projects.   McDermott plans to upgrade the vessel to address the ultradeepwater market with a state-of-the-art J-lay


ABS Group Awarded USCG Blanket Purchase Agreement

The U.S. Coast Guard (USCG) has awarded a follow-on $9 million Blanket Purchase Agreement (BPA) to ABSG Consulting Inc., an ABS Group company (ABS Group).   ABS Group will provide a range of Human Systems Integration (HSI) support to the USCG's Human Systems Integration Office (CG-1B3)


USCG Awards Polar Icebreaker Contracts

U.S. Coast Guard Cutter Polar Star, a heavy icebreaker homeported in Seattle, Washington, rests in the ice as the motor vessel Ocean Giant departs from the National Science Foundation’s McMurdo Station, Feb. 1, 2017. One of the primary responsibilities of the Polar Star’s crew is to provide an escort for the Ocean Giant through the frozen Ross Sea off of Antarctica. (U.S. Coast Guard photo by Chief Petty Officer David Mosley)

The U.S. Coast Guard awarded five firm fixed-price contracts for heavy polar icebreaker design studies and analysis Wednesday. The contracts were awarded to the following recipients: Bollinger Shipyards, LLC, Lockport, Louisiana; Fincantieri Marine Group, LLC, Washington


TGS Hires Polarcus for Europe

Polarcus Alima. Photo: Polarcus DMCC

 Polarcus has received a letter of award from TGS-NOPEC Geophysical Company, a marine seismic data acquisition specialist, for acquisition of 30,000 square kilometers of 3D multi-client data in Europe.   Approximately 20,000 sq.km


New Navy Leaders as Trump Takes Office

The Honorable Sean J. Stackley assumed the responsibilities of acting secretary of the Navy Jan. 20, 2017. (U.S. Navy Photo)

The Honorable Sean J. Stackley assumed the responsibilities of acting secretary of the Navy Jan. 20 at noon. Stackley, who served as the assistant secretary of the Navy (Research, Development and Acquisition) for more than eight years, will carry out the day-to-day responsibilities of the


Eimskip Acquires Mareco in Belgium

Mareco offices worldwide Image Eimskip

Eimskip has strengthened its position in worldwide reefer logistics services by acquiring 80% of the forwarding company Mareco N.V. The company was founded in 2002 and its headquarters are located in Antwerp,Belgium. The current management team will continue to own a 20% share in the company and


Navios Maritime Midstream Posts 4Q Profit

Image: Navios Midstream Partners L.P

 Maritime Midstream Partners LP (NAP), an owner and operator of tanker vessels, has reported fourth-quarter earnings of $6 million. On a per-share basis, the company has a net income of 28 cents.   The operator of contracted crude oil tankers posted revenue of $22


GasLog Partners closes public offering

Photo Gaslog

GasLog Partners LP today announced the closing of its public offering of 3,750,000 common units representing limited partner interests (the "common units").  The public offering price was $20.50 per common unit.  The net proceeds from the offering


Swiss Group MSC Acquires Hanjin's Stake in U.S. Ports Operator

A unit of Swiss shipping group MSC has bought a stake in U.S. ports operator Total Terminals International (TTI) from Hanjin, MSC said on Wednesday, having overcome objections from the South Korean line's U.S. creditors. Privately owned MSC, the world's no


London Port's Trade Jumps to Record 50 mi tonnes

The Port of London comprises over 70 independently owned and operated terminals and port facilities at different locations on the Thames. These handle a wide range of cargoes. Photo Port of London

Trade in the Port of London in 2016 reached the highest this decade, rising 10% to top 50 million tonnes for the first time since 2008.   The strong performance reflects continued growth at terminals along the Thames.  The volumes of oil


Maersk Line posts $376 mln Loss

Courtesy Maersk Line

Maersk Line reported a 2016 result that is USD 1,679 million lower than the 2015 result (USD 1,303 million). The overriding reason for the loss is a 19% decline in freight rates compared to 2015. Revenue was USD 20.7 billion, which is 13% lower than 2015 (USD 23.7bn).  


HMM Acquires Four Terminals From Bankrupted Hanjin

Phto: Hyundai Merchant Marine

 Hyundai Merchant Marine (HMM) announced that it has entered into a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake in terminals in Tokyo and Kaohsiung


SM Line's Maiden Voyage Next Month

Photo: S M Ship Management

 The new container carrier SM Line, owned by South Korean Samra Midas (SM) Group, will launch its first service in the second week of March.    The shipper which took over Hanjin's service network between Asia and the US, will also take over several of Hanjin's terminals in South


Norwegian Authority Objects Eimskip's Acquisition of Nor Lines

Photo: Eimskip

 The Norwegian Competition Authority has today given a notice of an objection to Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS.   The notice reflects the Authority's preliminary conclusion






 
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