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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


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.


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


Drew Marine Completes Acquisition of Chemring Marine

Affiliates of Drew Marine (Drew Marine) completed of the previously announced acquisition of Chemring Group PLC’s (Chemring) maritime interests for cash consideration of £32 million. Under Drew Marine's ownership, the acquired business will be named Drew Marine Signal and Safety (DMSS). DMSS is the world's leading supplier of marine distress signals including handflares, manoverboard buoys, line-throwers and other required rescue products under established brands including Pains


Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. has  announced  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million. The 2005-built vessel is expected to deliver in the fourth quarter of 2014


Knightsbridge Closes Vessel Acquisition Transaction

Bermuda-based Knightsbridge Tankers Limited announced that it has closed the first stage of its vessel acquisition transaction. Knightsbridge has issued 31 million shares in exchange for 11 Cape size bulk carrier newbuildings and two Newcastlemax newbuildings. knightsbridgetankers.com


Ingalls Delivers NSC Hamilton to USCG

Ingalls Shipbuilding President Brian Cuccias (right) presents a ceremonial key to the National Security Cutter Hamilton (WMSL 753) to Rear Adm. Bruce D. Baffer, the U.S. Coast Guard’s assistant commandant for acquisition and chief acquisition officer, during a delivery ceremony. Also pictured is Capt. Douglas Fears (right), the ship’s prospective commanding officer. Photo by Andrew Young/HII

Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division delivered the National Security Cutter Hamilton (WMSL 753) to the U.S. Coast Guard today. The ship will be commissioned in Charleston, S.C., on Dec. 6. "Our performance on the National Security Cutter program is a blueprint


ESAB Boasts Over a Century of Technological Innovation

ESAB boasts more than a century of technological innovation

  September 2014 marks the 110th anniversary of ESAB Welding & Cutting Products. A world leader in welding and cutting technology, with the broadest, most complete line of products and solutions for industry, ESAB’s reach extends to almost every nation in the world, with more than 8


EMGS - Agreement with Petrobras for EM Leader

Roar Bekker

  Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 5.5 million from Petrobras for 3D EM data acquisition in Brazil.   "With this contract, we are back in a strategically important region for us. We look forward to working with Petrobras again and expect to


DHT Holdings to Acquire Samco Shipholding

Photo: Samco Shipholding

DHT Holdings, Inc. announced today that it has entered into an agreement to acquire all the outstanding shares of Samco Shipholding Pte. Ltd., a private company incorporated under the laws of the Republic of Singapore. Samco owns and operates a fleet of seven very large crude oil tankers (VLCCs)


ISS Acquisition of Merkez Strengthens Turkey Cruise Capability

Inchcape Shipping Services (ISS), a maritime services provider, has acquired the Turkish cruise agency specialist Merkez Deniz Acenteligi ve Ticaret A.S (Merkez). Merkez is one of the most established agency houses in the Turkish shipping community and it is today a market-leading cruise sector


TE Connectivity Expands Sensors Offering with AST

  TE Connectivity Ltd, a world leader in connectivity, today announced that it has completed the acquisition of American Sensor Technologies, Inc., a manufacturer of pressure and position sensing solutions with 2013 revenues of approximately $20 million


EMGS - Agreement with Statoil for the Norwegian Sea

3D EM data acquisition

  Electromagnetic Geoservices ASA (EMGS) has received a supplement agreement from Statoil Petroleum AS worth approximately USD 1.0 million for multi-client 3D EM data acquisition in the Norwegian Sea.   The Company expects to commence the survey shortly


Keppel to Acquire Golar Hilli Interest

LNG carrier: File photo

KSI Production Pte Ltd (KSI), an indirect wholly-owned subsidiary of the Keppel Corp. says it has agreed to acquire 50 ordinary shares representing a 10% interest in Golar Hilli Corporation, which owns one Moss LNG carrier. Golar Hilli is the owner of the Moss LNG carrier HILLI which


PDMS Targets Maritime Industry with £1m Deal

Chris Gledhill

Maritime software engineering specialists PDMS Ltd. have announced an agreement for its U.K. subsidiary, Professional Data Management Services (U.K.) Ltd., to acquire certain parts of the business and assets of Maxima Information Group Limited


StealthGas Announces Newbuilds, New Vessel Contracts

StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part of its fleet expansion program the acquisition of two newbuilding LPG vessels.


Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry. Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East


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


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






 
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