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)
Wärtsilä continues to expand its boiler services with the acquisition of the boiler services business of International Combustion Engineering's (I.C.E.) former subsidiary in . The acquired boiler service business, which currently employs seven people, will be integrated into Wärtsilä in . This transaction follows Wärtsilä's acquisition of the Denmark-based International Combustion Engineering A/S (I.C.E
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
Ithaca Energy Inc. has expanded its core position in the Greater Stella Area ("GSA"), with four agreements entered into for the acquisition of additional interests in the "Vorlich" discovery and an operated interest in the "Austen" discovery. Highlights
TGS and Schlumberger today announce commencement of the Dual Coil Shooting* multi-vessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon
Mitsui O.S.K. Lines, Ltd. today announced that it has won a contract to transport vehicles manufactured at Toyota Argentina S.A. to ports on West Coast South America and West Coast Central America. Vehicles produced at Zarate plant to be exported to the majority of the Latin American Region and
International law firm Watson Farley & Williams advised Global Ports Holding on the acquisition of two significant stakes in Venezia Terminal Passeggeri S.p.A made via Venezia Investimenti S.r.l., which is jointly owned in equal shares by GPH and fellow industry leaders Costa Crociere
There are rumours among observers that the market leader Maersk Line is planning to acquire South Korea’s shipping major Hyundai Merchant Marine (HMM). Neither company has commented on the matter. Both companies were tight-lipped today on merger talk.
Beier Integrated Systems (Beier) informs it has purchased South Coast Electric Systems (SCES) from American Electric Technologies (AETI), expanding the its manufacturing capabilities in the marine market. Beier said it will acquire SCES’s operations
CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL). Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6th, 2016, CMA CGM now owns 2,376,715
The PALFINGER Group closed the acquisition of 100 percent of the shares in Herkules Harding Holding AS, i.e. the globally operating Harding Group, supplier of lifesaving equipment and lifecycle services for maritime installations and ships.
INTERSCHALT maritime systems GmbH, a provider of maritime software for cargo operations and fleet management, NavCom services and manufacturer of VDR systems, announced a change in the company’s executive management today. This follows Cargotec Corporation’s acquisition of INTERSCHALT
Vice Adm. Jan Tighe assumed the duties of the Deputy Chief of Naval Operations (DCNO) for Information Warfare (N2N6) and Director of Naval Intelligence (DNI) July 15 at the Pentagon. Tighe succeeded Vice Adm. Ted N. "Twig" Branch
CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital. Monday July 18 marked the last day of trading in shares of NOL on the
RINA S.p.A, the holding company of the multinational testing, inspection, certification and consulting engineering group based in Genoa, Italy, has announced that it has closed its acquisition of the entire share capital of Edif Group Limited for £118.5 million (around $156 million).
Malaysian offshore service provider Coastal Contracts is tapping into the growing liquefied natural gas (LNG) supply chain in Indonesia with the purchase of a 49% stake in T Jaya Samudra Karunia for US$6.55mil (RM27mil), reports the Star.
Kali, Inc. has completed its acquisition of Florida Marine Power Company, a marine mechanical repair, maintenance and engine installation company. Kali acquired all of the outstanding stock of Florida Marine Power in exchange for 4 million shares of Kali's common stock.
James Fisher has acquired the entire share capital of Lexmar Engineering Pte Limited and Lexmar Sat Systems Pte Limited (together 'Lexmar'). Lexmar, which was founded in 1996 in Singapore and a specialist providing diving equipment, will become part of JFD and will enhance JFD's saturation