A.P. Moeller's Salvage Unit Acquires Dutch Wijsmuller Group

Thursday, May 31, 2001
Danish oil and shipping group A.P. Moeller's Svitzer tug and salvage unit said on Thursday it bought privately-owned Dutch Wijsmuller Group Holding for an undisclosed sum. Wijsmuller is one of the world's leading providers of harbor and terminal towage and salvage services, operating a fleet of over 150 vessels in 21 countries, with more than 1,000 employees.

Moeller's Svitzer group currently operates 72 vessels and employs 620 staff providing tug and salvage services in Denmark and Sweden, bulk transportation (tug and barge) throughout northern Europe and safety standard vessels and survey vessels primarily in the North Sea.

Svitzer would pay almost one billion Danish crowns ($113.6 million) for Wijsmuller, a sector source said.

"The combination of the global reach of Wijsmuller and Svitzer/Moeller's strength creates a unique platform to deliver future growth in the global marine services market," Wijsmuller officials said.

Closing of the transaction, which is targeted for early July, is conditional upon limited confirmatory due diligence and authorities' approval.

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

Offshore

MN 100: Bordelon Marine

The Company: Founded in 1979, Bordelon Marine is a leading provider of Marine Transportation services operating in the Gulf of Mexico and around the world. The

Migrant Boat Sinks off Libya; 200 Feared Dead

A boat packed with mainly African migrants bound for Italy sank off the Libyan coast on Thursday and officials said up to 200 might have died. A security official in the western town of Zuwara,

Yamal LNG Arctic Project in Doldrums

The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.

Finance

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

Oil Plunge Deepens High-yield Gloom

US crude fell to a more than six-year low this week, clouding the picture for a high-yield energy sector that already faces a significant cull when credit lines are reevaluated in autumn.

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics 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: 0.3381 sec (3 req/sec)