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

People & Company News

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately.

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

LNG

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

Chevron Hires Viking Princess

Eidesvik Offshore has signed a contract for 19 months with Chevron UK employment for one platform supply vessel (PSV) Viking Princess.    The vessel will be

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators
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: 0.1684 sec (6 req/sec)