SeaChange Completes $100m Private Placement for Expansion

Thursday, May 31, 2007
SeaChange Maritime has completed a private placement of $100m, the proceeds of which will be used to invest in expanding its fleet of container ships. The company, which is registered in the Marshall Islands and operates from offices in Miami, Fla., was formed in 2006 by former Sammy Ofer group executives Samuel Norton and Yariv Zghoul to serve as a leading supplier of container vessels for charter to integrated liner operators. Prior to forming SeaChange Maritime, Norton served as the senior executive officer of Tanker Pacific Management in Singapore and founded Tanker Pacific Offshore Terminals, a market leader in offshore storage and production solutions for the oil exploration industry.

The company is financially backed by blue-chip private equity firms and strategic investors, as well as its founders. The company has raised $220 million of debt and equity capital to date and is in the process of raising further funds for the purpose of acquiring additional tonnage and expanding its global operations. Capricorn Investment Group and Morgan Stanley Principal Investments were the lead investors in this private placement. Additional investors included funds managed by Ospraie Management LLC of New York and Ship Finance International.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.3666 sec (3 req/sec)