BASS Acquired by Management from Wilh.Wilhelmsen

Friday, November 11, 2005
BASS has secured ownership of BASS (Hong Kong) Ltd. from former parent-company, Wilhelmsen Maritime Services (WMS). The BASS management team used additional financing to complete the agreement, which includes the company's controlling interest (34 percent) in Star Information Systems, a maritime software provider based in Norway. In addition, BASS will continue to provide Barber Ship Management, a unit of WMS, with fleet management software, which accounts for 20 per cent of BASS' annual turnover. The two companies have recently agreed on a four year contract for software and services to support Barber Ship Management in the highly competitive ship-management market. According to BASS' managing director Per Steinar Upsaker, the management team approached WMS following the company's acquisition of Unitor earlier this year. "WMS' efforts to re-focus their business on core services gave us the opportunity to put an offer together to buy the company," he says. "We have great confidence in BASS' future, and are very pleased they accepted." Dag Schjerven, President & CEO of WMS says the two companies will continue to work together.

In the past two years, BASS has redeveloped major parts of its product suite on the Microsoft.Net platform.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators 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: 0.0829 sec (12 req/sec)