J. Lauritzen bought Cool Carriers AB for $35.4 million from Norwegian shipping group Leif Hoegh & Co. ASA, a step in consolidation of the reefer vessel market. "The acquisition will be financed through a capital injection of 215 million crowns ($25.5 million) from the parent company J. Lauritzen Holding," it said. Reefer vessels are equipped with refrigeration facilities to transport perishable foodstuffs. The takeover of the Swedish-based group, effective January 1, 2001, would create the world's leading specialized reefer vessel operator in a new company to be named Lauritzen Cool AB, it said. "With the establishment of Lauritzen Cool the first step towards the long sought-for consolidation of the global reefer market has now been taken," it said. The merger of Lauritzen's loss-making reefer subsidiary Lauritzen Reefers -- both an operator as well as a shipowner -- and Cool Carrier, an operation unit only, would yield synergies of "conservatively estimated" $15 million per year. Lauritzen Cool will use reefer vessels from both Leif Hoegh and J. Lauritzen. It said total turnover was expected to amount to $430 million for 2001.
Norwegian shipping firm Star Reefers has agreed with Japan's NYK to create a new joint pool and marketing company owned 50 percent each. The new company will be called NYK Star Reefers Ltd. and will control a combined fleet of 74 refrigerated vessels currently owned by the two firms, Star Reefers, formerly called Swan Reefer Inc., said in a statement. "This merger is a further step towards greater consolidation and regrouping of the owners in the industry -- which has experienced a number of
Ugland International Holdings Plc reportedly entered into agreements to restructure Norway-based refrigerated vessel (reefer) operators Swan Reefer ASA.
Green Reefers ASA increased its share in the Polish terminal Euro Terminal Sp.z.o.o.; formerly Odraport. An agreement has been reached to acquire Frax AS' 6 percent shares in Odra Industries ASA, the holding company of Euro Terminal. Green Reefers will thereafter own 31 percent in the terminal. Euro Terminal owns and operates a port in the northwestern corner of Poland with a total cold store capacity of 30,000 tons. Euro Terminal is the main port for Green Reefers in Poland
The Contship Australis, the second of three newbuildings destined for Contship Containerlines' Europe-Australasia services has been delivered and will enter service on December 17 in Auckland. Built by Daewoo Heavy Industries in South Korea, the capacity of each ship is 4,100 teu, including 1,300 reefer plugs - making them the biggest reefer container ships in service. "The new ships are some of the most advanced in the business offering technological improvements both for the
Leif Höegh & Co. ASA (LHC) has sold its 36% shareholding in Lady Navigation Inc. to Frigo Navigation Ltd. on private terms. Lady Navigation Inc. owns the two reefer vessels Lady Racisce and Lady Korcula. The "Lady" vessels were built in 2000 and have a capacity of 590 000 cbft. Transfer of the shares in Lady Navigation Inc. to the new owner was concluded on 30 June and marks LHC's final exit from the reefer segment. LHC sold its commercial reefer operation, Cool Carriers, to
Green Reefers has concluded sale of the M/V Green Igloo for $2.1 mill. The vessel is 73,000 cu. ft. and built in 1983. Delivery to new owners will take place during April 2006. The transaction generates a profit of about $1 mill and generates free cash of about $800,000. In 2005 Green Reefers expanded its fleet with a total of nine vessels, whereof seven vessels have been purchased by the company.
Following on last investment earlier in 2013 in the Rail Terminal in Murcia and the launching of the first Reefer Block Train operated in Spain linking Murcia with the Port of Bilbao two times per week, MacAndrews, a door to door Intermodal operator in Europe 100% subsidiary of CMA-CGM Group, have completed the purchase of a 25% share in Progeco Bilbao, SA, becoming its main shareholder. Since 1985, Progeco Bilbao is offering comprehensive logistic services in the industrial and commercial
Hamburg Süd yesterday celebrated the christening of its new containership San Christobal with customers and business partners at the Hyundai Heavy Industries shipyard in Ulsan, South Korea. The vessel is the second newbuild in the series of three new San-class ships. Each container vessel in the San-class has a nominal slot capacity of 9,034 TEU, and the San Christobal and her sister ships each have 1,370 reefer slots.
After announcing last week a new weekly barge service from Jacksonville to Puerto Rico intended to commence on January 29, Sea Star Line has restructured assets and plans to move the start of the new service forward to January 22. Sea Star is in the process of on-hiring 2,300 pieces of new equipment over the next 30 days that will not only support the new barge service but ensure there is adequate equipment to support customers utilizing their twice weekly ship service from
Lomar Corporation, a Libra Group company, has again added to its fleet of container ships with the purchase of three vessels plus an order for up to four new buildings from the Yangzijiang Shipyard, says a company press release.
The Ferguson Group Singapore, global provider of offshore DNV 2.7-1/EN12079 containers, tanks, baskets, reefers, workspace modules and accommodation solutions, is investing further in its Southeast Asia fleet. Headquartered in Loyang Offshore Supply Base
The CMA CGM Volga, eighth of the 28 vessels named after famous rivers series, enters the CMA CGM fleet Newbuild containership CMA CGM Volga entered the CMA CGM fleet on March 17, and began her first rotation in Dalian, China, on March 20, the CMA CGM Group announced.
Hamburg Süd christened its third container vessel in the new San class yesterday, officially naming newbuild San Vicente at the Cuenca del Plata terminal in Montevideo. The new ship class in the Hamburg Süd fleet has a nominal container slot capacity of around 9
Container shipping line United Arab Shipping Company (UASC) has ordered 2,000 reefer containers from Daikin. As part of the emerging global carrier’s investment in the cutting-edge, energy-efficient solutions for the carriage of frozen and chilled cargoes
ZIM integrated shipping services has announced the launching of a new monitoring, tracking and security services package, specifically designed for valuable and sensitive cargo stowed in reefer containers. The service allows customers to closely monitor their cargo's status
Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff. The Spirit of Canterbury would provide greater capacity for customers including reefer cargo and replace the
Gujarat Pipavav Port Ltd. (APM Terminals Pipavav), operating one of western India’s fastest growing gateway ports, today reported a 16% jump in net profit for the fourth quarter ended 31st December 2014, as against INR 771 million in the corresponding quarter last year mainly
CMA CGM reinforces its position in Brazil, introducing the largest vessel in terms of TEU capacity to ever call Brazil Containership CMA CGM Tigris, one of the newest vessels in the CMA CGM fleet, is due to call the Port of Santos on February, 6
United Arab Shipping Company (UASC), a leading container shipping line and emerging global carrier, has today appointed The Ultramar Group as its local liner shipping agency partner in Brazil, Argentina and Uruguay. This appointment is the latest milestone in UASC’s expanding
Danish liner giant Maersk Line has cut capacity by 10 percent on the trade between the east Coast of South America and Europe and the Mediterranean in response to the “steady decline” in market demand. It has decided to axe the capacity as it battles with an
Containerships CMA CGM Loire and CMA CGM Ural were delivered to the CMA CGM Group on February 5 and entered the fleet on February 13 and 14, respectively, marking the arrival of the fifth and sixth vessels of the 9,400 TEUs to 10,900 TEUs series to be delivered through the third quarter of 2016
The maiden voyage of the containership CMA CGM Rhone started in China on February 20, the CMA CGM Group announced. The 9,365 TEU vessel CMA CGM Rhone is the seventh in a series of 28 ships from 9,400 TEUs to 10,900 TEUs that will be delivered from now to the third quarter of 2016
French maritime transporter CMA CGM has opened a logistics complex, between the port and city of Douala, Cameroon, and set up a new firm to handle inland transportation in West African markets. Christened 3CTC (CMA CGM Cameroon Container Terminal)
The Panama Canal Authority (ACP) is holding a public hearing today on a proposed toll structure change. The proposed restructuring, which the ACP Board of Directors approved on December 24, calls for each ship segment to be priced based upon different units of measurement