PSA Marine Completes $112M Acquisition

Monday, July 02, 2001
PSA Marine completed the acquisition of the marine business of Sembcorp Logistics Ltd. for $112.97 million. "The strategic acquisition complements PSA Marine's core business and extends its geographical reach to key overseas markets in Hong Kong, Southeast Asia, Middle East and Africa," said PSA in a statement. The addition of salvage tugs and semi-submersible barges to its fleet would also widen PSA Marine's range of marine services to include international emergency response and ocean towage, it said. "We will consolidate our core activities and at the same time expand into new growth areas. There is potential in the offshore support business for the oil and gas industry and we are currently focusing on niche business opportunities," said PSA Marine managing director V. Sivarajan. "We also see a potential to grow the emergency response services. The scope of emergency response will be expanded to include seaward chemical spill containment capability," he added. - (Reuters)
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Ship as Lifeboat Concept Disputed by ICV

A recent meeting at the National Transportation Safety Board in Washington, D.C. (attended by International Cruise Victims (ICV) Board representatives) discussed

McDermott Elect G.P. Luquette Board Chairman

Provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide, McDermott International, say that Gary P.

Ill-Considered Energy Policies Threaten US Navy: Report

The United States government has pursued energy policies based on “the mistaken belief in the unproven science that claims carbon dioxide (CO2) emissions from burning

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1055 sec (9 req/sec)