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

Offshore

Hercules Offshore Shares Fall 33%

Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Mexico Approves 5 Shallow Water Areas in Round One Oil Tender

Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields,

Finance

Indian Ports to Set Sail on Corporatization

Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act.

Zvezda Shipyard Comes Up Despite Western Sanctions

German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.

ADB Okays $30mln for Pak LNG Terminal

The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3644 sec (3 req/sec)