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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.


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


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)


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.


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


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.


Konecranes Completes Acquisition of WMI Cranes

On October 11, 2010, Konecranes announced that it had entered into an agreement to acquire the Indian crane company WMI Cranes Ltd. (“WMI”). Konecranes has now received the required regulatory approvals, and WMI will be consolidated into Konecranes’ financial reporting from February 1, 2011. The acquisition is expected to be slightly EPS accretive in 2011. Konecranes is acquiring WMI’s shares in two phases


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


Dynagas LNG Completes Acquisition of Arctic Aurora

Dynagas LNG Partners LP

  Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214


BCG Releases PCVM Emulation

PCVM Screen Shot

Buffalo Computer Graphics (BCG) Inc. announced the addition of another emulation product to its family of Radar Simulators. BCG has completed an emulation of the VisionMaster FT radar – our PCVM. PCVM utilizes the same simulation engine as the rest of BCG’s products


KKR, Borealis Maritime JV acquires 9 container ships

Christoph Toepfer and Frederik Rye-Florentz of Borealis Maritime.

KKR and Borealis Maritime today announced the acquisition of a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank


Dentressangle Acquire U.S. 3PL Provider Jacobson

Warehouseman at work: Photo Dentressangle

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider, Jacobson Companies from Oak Hill Capital Partners. The transaction was valued at $750 million (€560 million) in cash on


Clarksons PLC Perform Strongly in 1H 2014

CEO Andi Case: Photo Clarksons

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.7m in the first six months of 2014 (2013: £89


Adani Ports PAT for Q1FY15 Increases by 36%

Adani & SEZ

  Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced financial results for the quarter ended June 30, 2014. Consolidated cargo handled by the company was 33.83 MMT in Q1FY15, an increase of 27%, over corresponding quarter last year


USJ-IMECO Acquires Joiner Systems

Affiliates of USJ-IMECO Holding Company, LLC , a portfolio company of J.F. Lehman & Company (JFLCO), today announced the acquisition of Joiner Systems, Inc. Joiner Systems, headquartered in Montreal, Quebec, primarily designs, engineers and manufactures accommodation systems for commercial and


DEKRA Acquires NDT, PI & Microscopic Operations of DNV GL

  The international expert organisation DEKRA has taken over the Plant Integrity (PI), Non Destructive Testing (NDT) and Microsopy operations from DNV GL (formerly KEMA) and as such is expanding its industrial operations in the Netherlands


Fortis Acquisition of UNS Energy Approved

H. Stanley Marshall is Chief Executive Officer

  Fortis Inc. and UNS Energy Corporation announced today the issuance of the final written approval by the Arizona Corporation Commission of the Corporation's agreement to acquire UNS Energy. As a result, all conditions precedent to completing the Acquisition have been fulfilled other than


GasLog Partners' First Option Vessels Acquisition for $328 mi

Image

  GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder


Clarksons Report Strong First Half Performance

Clarkson logo

Leading shipping services group Clarkson PLC (Clarksons) has reported its unaudited Interim Results for the six months ended 30, June 2014. Summary     •    Strong performance in continued challenging market conditions


LNG Carriers GasLog Financial Results Q2 2014

Image courtesy of GasLog

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30, 2014, excerpted as follows: Highlights Completion of the initial public offering (“IPO”) of


Chariot Agrees Brazil Farm Out with AziLat

Barreirinhas Basin

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited  through its local subsidiary AziBras


LNG Finalizes Acquisition of Bear Head LNG Project

Logo

  Liquefied Natural Gas Limited today informed having finalised the acquisition of 100% of Bear Head LNG Corporation (BHLC). This follows the announcement to the ASX by LNGL on 28 July 2014 regarding the signing of an agreement to acquire BHLC from a subsidiary of Anadarko Petroleum


EOC Takes Full Ownership of OSVs

Lewek Antares

  On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore, from Konquest Marine Pte Ltd ("KMPL")


KKR & Borealis Maritime Acquire 9 Containerships

Containerships sunrise: File photo

KKR and Borealis Maritime say they have acquired a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank






 
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