Goldman Agrees to Buy AB Ports for $4.6b

Wednesday, June 14, 2006
Bloomberg reports that Goldman Sachs Group Inc. and its bidding partners agreed to buy Associated British Ports Holdings Plc., after raising their offer to $4.6b. Goldman is buying the port operator with the government of Singapore and a Canadian pension fund. The group's first bid was 730 pence a share in March.

The sale of London-based Associated British Ports is the third takeover of a British harbor owner in the past six months as an increase in world trade and expectations of steady earnings attract investors. DP World, which is owned by the government of Dubai, United Arab Emirates, in March bought Peninsular & Oriental Steam Navigation Co. for $6.8 billion after agreeing to sell U.S. operations to overcome opposition from Congress. PD Ports Plc, owner of the English ports of Tees and Hartlepool, was bought in December by Babcock & Brown Infrastructure Group, the owner of Australia's second-biggest coal port. Source: Bloomberg


Cruise Ship Trends

Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.

Pods Versus Water Lubricated Props

Thordon Bearings has called on the marine industry to investigate the characteristics of both conventional seawater-lubricated propeller shaft systems and podded

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

Ports

Shenzhen Port to Adopt China ECA Regulation

China's Shenzhen port is set to to adopt requirements for ships at berth requiring to burn marine fuel with sulfur content not exceeding 0.5 percent starting October this year,

Cochin Port Gets a Little 'Breathing Space'

The Cabinet Committee on Economic Affairs of India, chaired by the Prime Minister Narendra Modi, has given its approval for waiver of penal interest on Government

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics 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: 0.0518 sec (19 req/sec)