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
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 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 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)
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
TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard. TORM has demonstrated its financial and strategic flexibility with the exit from
PGS has recently completed the fifth consecutive acquisition season offshore Newfoundland and Labrador as part of the ongoing joint venture (JV) with TGS. The successful 2015 season was the biggest yet with PGS operating four vessels, two 3D and two 2D vessels
Norautron Group has entered into an agreement to acquire 100% of Hatteland Display from Herkules Capital. Hatteland Display's history dates back to 1989, and the company is now a leading designer and manufacturer of high-end rugged displays, panel computers
Neptune Orient Lines(NOL) confirmed that it is continuing in discussions with respect to a potential acquisition of the group as previously announced on Nov 7 on the local bourse, reports Business Times. This comes after the Singapore Exchange Securities Trading Limited (SGX-ST)
Although Cosco Pacific, the Hong Kong-listed subsidiary of China’s biggest shipping company China Cosc, is expanding in the Mediterranean area after taking part in the acquisition of port in neighbouring Turkey, it faces stiff competition, reports SCMP.
General Dynamics successfully completed the initial field deployment and test of the Remote Video Surveillance System (RVSS) upgrade for the U.S. Department of Homeland Security's Customs and Border Protection (CBP). This test demonstrated many technical capabilities of the RVSS system and
Swedish based Trelleborg AB has finalized the acquisition of Maritime International, Inc., a U.S. based privately owned designer and manufacturer of marine fender systems and other quay accessories. The transaction will be consolidated as of October 15, 2015.
APM Terminals announces the agreement to purchase the remaining 39% shareholder of Grup Maritim TCB. On 8 September 2015, APM Terminals announced the agreement with Perez y Cia to acquire their majority share (61%) in Grup Maritim TCB
The acquisition of Imtech Marine by Pon Holdings and Parcom Capital has been finalized. The European Commission has approved the takeover of the leading maritime service provider. Imtech Marine will continue to operate independently and will, in the coming period
FSL Trust Management Pte. Ltd. (FSLTM), as the trustee-manager of First Ship Lease Trust (FSL Trust), announced that FSL Trust has entered into a memorandum of agreement to purchase a 2007, Japanese-built, 45,998-dwt MR product tanker for $21.8 million.
The builder of luxury yachts Grand Banks Yachts swung to a net profit of $1.2 million for the first quarter ended Sept 30 compared to a net loss of $1.3 million for the year-ago period. Following restructuring efforts after a major acquisition, gross profit margin increased to 24
Statoil has completed a farm-in transaction with ExxonMobil Exploration and Production South Africa Limited (ExxonMobil), acquiring a 35 percent interest in the ER 12/3/154 Tugela South Exploration Right. The remaining interests are held by the operator ExxonMobil (40%) and co-venturer
Royal IHC has expanded its activities with the acquisition of Fraser Hydraulic Power (FHP) in the UK and Robbins Technology Group (RTG) in Brisbane, Australia. With these latest acquisitions, IHC has expanded its offshore rental fleet and gained a stronger foothold in the mining market
A keel laying ceremony was held Monday for the U.S. Navy’s future USS Billings (LCS 15) at Marinette Marine Corporation shipyard in Wisconsin. Sharla Tester, Billings' sponsor and wife of Sen. Jon Tester, authenticated the ship's keel
Indian Register of Shipping (IRClass), the leading international classification society, has acquired Geological and Metallurgical Laboratories (GML), a leading India-based industrial testing and standards setting company, through IRClass Systems and Solutions Pvt. Ltd.