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 Today


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

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

LNG

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

GTT, Endel Team-up to Roll-out Membrane Containment Systems

21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Ship Electronics Ship Repair 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: 0.0916 sec (11 req/sec)