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
Danish shipping giant A.P. Moeller-Maersk A/S’s container altered its strategy this month by planning to expand its fleet through acquisition, breaking from its previous preference of building its own boats, reports Forbes.
Silver Green AS, owned 50% by Samskip, is changing its name to Silver Sea AS to mark the finalization of a series of ownership changes. The new name reflects a consolidation by Samskip of its position in the reefer vessel segment, including the strengthening its ownership in the company and direct
Agile Network, a provider of multi-carrier and multi-modal transportation execution technology in North America, announced it has reached an agreement for the acquisition of Pantechnik International, a leading provider of transportation execution technology in Europe and Asia.
CMA CGM, a leading worldwide shipping Group, announces the appointment of Michel Delville as Chief Financial Officer. Michel Sirat will continue to support the Group on strategic development missions. Michel Delville was Chief Financial Officer of the Saft Group
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
Samskip has completed the acquisition of Euro Container Lines AS, building on a strategy for growth in the Nordic area to make its largest ever acquisitive move in Norway. The ECL acquisition aims to strengthen Samskip’s position in the Norwegian market by enhancing the speed and
DNV GL successfully completed its due diligence work of the offshore wind farm “Nordergründe” in the North Sea, reviewing and quantifying the technical risks of the project. The John Laing Group commissioned DNV GL with the assessment and analysis of the
South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd. The Financial Services Commission said in a statement that Hanjin will soon file for court receivership but that the impact
Africa’s first ever dredging simulator was launched in the port city of Durban, South Africa – another positive spin-off of ongoing collaboration between Transnet National Ports Authority (TNPA), the Transnet Maritime School of Excellence (MSoE)
Shares of Neptune Orient Lines (NOL) - now a wholly owned unit of French container ship operator CMA CGM - delisted from the Singapore Exchange (SGX) with effect from 9am September 07. CMA CGM said in a press release on Monday (Sep 5) that NOL had obtained the necessary waivers and
SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD 512 million of bank loans raised for purposes of funding the fleet renewal and expansion programme and for the refinancing of maturing
Navios Maritime Acquisition Corporation, announced today that it has agreed to provide a $70 million secured loan facility maturing in November 2018 to Navios Maritime Holdings Inc. The Loan Facility bears interest of 8.75%, compounded semi-annually and is secured by (1) all of Navios
Cargotec is to begin restructuring at maritime software provider Interschalt, following its acquisition of the company earlier this year. The re-organisation is estimated to affect Interschalt personnel in Germany, USA (Houston) and China (Shanghai)