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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Huisman Debuts Rope Luffing Knuckle Boom Crane

In order to provide reliable solutions for subsea installation in increasingly deeper water and offshore construction in severe weather conditions, Huisman introduces

Scafi Expands Fleet with Italian Damen Tug

Damen is to construct a new ASD 3212 tug for Scafi, the Italian shipping group that includes a number of international towing companies. The contract cements their

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

 
 
Maritime Security Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1152 sec (9 req/sec)