Lasco Enters Agreement with Clipper Group

Monday, October 13, 2003
The Portland, Oregon based Lasco Shipping Co. enters into major agreement with Clipper Group of the Bahamas. Torben G. Jensen, Chairman of Clipper Group of the Bahamas and Kenneth M. Novack, Chairman of Lasco Shipping Co. of Portland, Oregon are very pleased to announce that Lasco has entered into an agreement pursuant to which it is to be acquired by Clipper Group. Lasco Shipping Co. owns and operates a 23 vessel fleet. In addition Lasco operates the Lasco Logger Pool. Clipper Group is the well known and dynamic Shipowner and time-charter operator domiciled in Nassau, Bahamas, with representation offices in the US, Europe and Far East. The Lasco fleet consists of Handysize, Handymax and Panamax bulk carriers - segments which are all among the strategic core activities of Clipper Group. More specifically, with the acquisition of Lasco, Clipper Group will gain control of the following vessels: 10 Handysize bulk carriers between 26.000 tdw and 29.000 dwt 4 Handysize newbuildings of 30.000 dwt, under construction in Japan, all for delivery 1st quarter 2004 2 Handymax bulk carriers of 46.000 dwt 7 Panamax bulk carriers between 66.000 dwt and 74.000 dwt The Handysize vessels are employed in the Lasco Logger Pool and a number of the Panamax bulk carriers are employed in the Klaveness Baumarine Pool. Lasco Shipping Co. was advised by Den Norske Bank of New York and Oslo and Clipper Group was advised by American Marine Advisors of New York in this transaction. The parties expect the transaction to be completed by the end of November this year following corporate and other legal formalities which must be concluded.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

Cruise Industry Wins Key Norovirus Judgment

In what is being seen as a landmark decision, Hill Dickinson is the first law firm to have successfully defended a UK class action case involving a Norovirus outbreak onboard a cruise liner.

MHI: Notice of Absorption-Type Split Agreements

MHI gives Notice Regarding Conclusion of Absorption-type Split Agreements Relating to Transfer of Ship Construction and Hull Block Manufacture Businesses to Two

LNG

Fratelli Neri Orders Damen Tug

One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015.   The vessel will be the first ASD tug

NOIA Applauds Senate Passage of OPENS Act

NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new

MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration

 
 
Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage 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: 0.1718 sec (6 req/sec)