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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

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

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

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.

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)

DryShips Completes Acquisition of Ocean Rig

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

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

Seanergy Maritime 2Q Revenue Nets $1.8 mln

Dry bulk shipper Seanergy Maritime Holdings Corp.  announced its financial results for the second quarter and six months ended June 30, 2015. For the three months ended June 30, 2015, the company generated net revenues of $1.8 million. Total equity as of June 30, 2015 was $9.4 million.

Danaos buys 3 Boxships via new JV

Photo Danaos Corporation

  Danaos Corporation announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market. The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity ("Gemini") beneficially

Supramx Ship Delivered to Seanergy

Dry Bulk shipping company Seanergy Maritime Holdings Corp. announced today the delivery of a 56,819 dwt Supramax dry bulk vessel, renamed M/V Gladiatorship.   The vessel, which was built in 2010 by CSC Jinling Shipyard, has been employed in the spot market

Stiff Competition for Cosco Pacific in Mediterranean

Photo: COSCO Pacific Ltd

 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.  

TASI Acquires SignalFire Telemetry

John T. McKenna, President and CEO at TASI Group

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition is strategic to the growth model of TASI, and adds an exciting new wireless communication component to TASI’s Founded in

Russian JV Close Acquisition of Prime Shipping


  The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets in the Russian Federation (100% share of Prime Shipping group of companies). Prime Shipping is one of the leaders of the Russian

Thomas Miller Acquires Marine Law Firm

Peter Jackson, Head of TM Law

  Thomas Miller the international insurance, professional and insurance services provider announces the acquisition of the partners and staff of specialist marine law firm, Davies Johnson & Co of Plymouth. The acquisition brings an additional six fee earners to the Thomas Miller Law

Kenya's Railway Opening to Traffic in Mid-2017

The tracks for a new, faster railway linking the Indian Ocean port of Mombasa to Kenya's capital will be laid by the end of 2016 and will open for commercial traffic on target in June 2017, the chairman of Kenya Railways said on Friday. The Chinese-financed project is the first stage in a

Diana Inks Six-year Term Loan Facility

Press release - Diana Containerships Inc. has announced that on September 10, 2015, it signed a six year term loan facility with The Royal Bank of Scotland plc for up to $148 million, which will bear interest at the rate of 2.75 percent over LIBOR.

Polarcus Gets West Africa Contract

 Polarcus Limited  has announced it has received a letter of intent for a 3D marine seismic project in West Africa.    The client was not disclosed by the Dubai-based seismic vessel operator, who will utilise its RightBAND technique for the broadband data acquisition. 

Jan De Nul Acquires Jack-up Heavy Lift Vessel

Photo: Jan De Nul Group

 The dredging and maritime management company Jan de Nul Group signed the acquisition of the offshore facility vessel Vidar, which previously worked for the German company Hochtief.   The facility vessel Vidar, which is less than two years old

Polarcus Awarded Broadband 3D Project in West Africa

Polarcus Limited has received a letter of intent from an undisclosed client to execute a 3D marine seismic project in West Africa utilizing Polarcus' RightBAND technique for broadband data acquisition, the company announced in a press release today.  

Genting HK to Buy Lloyd Werft Shipyard

Photo: Lloyd Werft

Genting Hong Kong has agreed to acquire the Lloyd Werft shipyard in Bremerhaven, Germany, in a deal that will see the company invest €17.5 million for a 50 percent ownership of the land and 70 percent of the new build business. The acquisition remains subject to final purchase conditions.

Cadmatic, NCG Combine Business Operations


Press release - Cadmatic and Numeriek Centrum Groningen BV (NCG) have combined their business operations and continue as one company.   Cadmatic Oy has acquired all the shares and business operations of Numeriek Centrum Groningen BV (NCG). This is valid from the 16th of September 2015.

Hollande, Sissi Agree on Mistral Warships Deal

French President Francois Hollande and his Egyptian counterpart Abdel Fattah Al-Sissi have agreed on the purchase by Egypt of the two French Mistral helicopter carriers whose planned sale to Russia was cancelled. "They agreed on the principle and the terms of the acquisition by Egypt of

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