J. Lauritzen Buys Cool Carriers

Monday, December 11, 2000
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.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

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


Euroseas Sells C/V Marinos

Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Bill on Danish Maritime Planning Submitted

The bill is to form the basis of a maritime planning act intended to promote economic growth and development of sea areas. The Danish Maritime Authority is to head the work.

Plans to Create Rio Doce Fund

Vale and BHP Billiton announced today plans to work together, with Samarco, to establish a voluntary, non-profit fund to support the rescue and recuperation of the Rio Doce river system,

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction 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: 0.0701 sec (14 req/sec)