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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.


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.


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


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


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


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


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.


Altra Acquires Stromag

Manufacturer and marketer of electromechanical power transmission and motion control products Altra Industrial Motion Corp. said it has closed its acquisition of the Stromag business from GKN plc.   “Stromag provides Altra with complementary products


EMGS' Vessel Utilisation Soars

EMGSs 3D EM vessels; BOA Galatea, BOA Thalassa, Atlantic Guardian and EM Leader. Photo EMGS

Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on contracted or multi-client data acquisition


Newcastlemax Duo Joins Diana Shipping’s Fleet

M/v San Francisco. Photo: Diana Shipping Inc

 Diana Shipping has taken delivery of the m/v San Francisco (formerly Hull No. H2548)  and the m/v Newport News (formerly Hull No. H2549), two new building Newcastlemax dry bulk vessels that were contracted in May 2013.   The m/v San Francisco has been time chartered to Koch


Wison Launches Floating LNG Power Plant Solutions

Photo: Wison

Wison Offshore & Marine has developed a range of solutions for floating power supply. With design philosophy of “plug-in power”, all products which are named W-FSRP series (Wison-Floating Storage Regasification and Power generation) feature integrated functions of LNG loading and


Carmanah Acquires EKTA Marine Aids

Pic from Youtube video. Courtesy: Cybernetica AS

 Carmanah Technologies Corporation  has completed the acquisition of the EKTA marine aids to navigation assets from Cybernetica AS of Estonia.    The company had previously announced its intention to acquire the EKTA branded products and contracts on November 29th, 2016.


DryShips Closes New Revolving Facility from Sifnos

Image: DryShips Inc.

 DryShips Inc has signed definitive documentation with Sifnos Shareholders Inc for the previously announced refinancing of the majority of its outstanding debt under the new senior secured revolving facility.   Under the terms of the New Revolver


HPH Trust Acquires Major Stake in Huizhou Terminal

Pic: Huizhou International Container Terminals Limited

 Hong Kong Container port business trust Hutchison Port Holdings Trust (HPH Trust) has reached an agreement to purchase a majority stake in Huizhou International Container Terminals Limited (HICT) in Guangdong from the trust’s sponsor for about $86.26m.  


USS Rafael Peralta Completes Acceptance Trials

The future USS Rafael Peralta (DDG 115) sets sail on October 17, 2016 for the first time to conduct initial at-sea builders trials off the coast of Maine. (Photo: U.S. Navy)

 The future USS Rafael Peralta (DDG 115) successfully completed acceptance trials Dec. 16 after spending two days underway off the coast of Maine. The U.S. Navy's Board of Inspection and Survey (INSURV) reviewed the ship and its crew during a series of demonstrations while underway


EXMAR, VOPAK Ink FSRU Business Deal

Photo Exmar

Following the announcement on 2 September 2016 that EXMAR and Vopak had started exploratory discussions on floating LNG storage and regasification, an important milestone has been reached being the signing of an agreement on the acquisition of the FSRU business of EXMAR by Vopak and the possible


Descartes Acquires Datamyne

Descartes Systems Group, a leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN), announced that it has acquired Datamyne, a provider of cloud-based trade data content solutions for customers to analyze import and export trade activity.  


Euroseas Acquires Ultramax Newbuilding

Photo: Euroseas Ltd

 Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that it signed an agreement to acquire from Dayang shipyard, Hull DY160, an Ultramax drybulk carrier, of 63,500 dwt built 2017


Brunvoll Acquires Scana Propulsion

Odd Tore Finnøy, CEO, Brunvoll AS. (Photo: Brunvoll)

Brunvoll, a family-owned company headquartered in Molde, Norway, a company that designs, manufactures and services complete thruster sstems for maneuvering, positioning and propulsion of advanced vessels, this week signed an agreement with Incus Investor ASA to acquire all the shares in Scana


Seanergy Maritime Takes Delivery of MV Knightship

 Seanergy Maritime Holdings Corp. has taken delivery of a 178,978 dwt Capesize dry bulk vessel, renamed to M/V Knightship and built in 2010 by Hyundai Heavy Industries in South Korea. Stamatis Tsantanis, CEO of Seanergy commented, "We are very pleased to announce the delivery of the


Transocean Closes Acquisition of Transocean Partners

NEXT GENERATION DRILLSHIPS AND RIGS PHOTO TRANSOCEAN

Transocean Ltd. announced the closing of the acquisition of Transocean Partners. Each outstanding public common unit of Transocean Partners was converted into the right to receive 1.20 shares of Transocean Ltd., which issued approximately 23.8 million shares related to the transaction.


Consolidated Container Fleets Worth $33.4 Billion

Photo: Hamburg Süd

Following the sale of Hamburg Süd to Maerskfor $4 billion, VesslesValue senior analyst William Bennett has compiled a report on the top consolidated container fleets. Currently these top five fleets are worth $33.4 billion and account for 33 percent of the entire container fleet.  






 
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