Heidmar, W-O Shipping Joint Tanker Venture

Monday, April 13, 2009

Heidmar Inc. and W-O Shipping Group B.V. have agreed on terms for the formation of a joint venture, WOMAR Holdings LLC, to commercially manage small and intermediate size IMO II/Chemical and other tankers less than 30,000 DWT.

Heidmar's Marida Tanker pool and W-O Shipping's Yamuna and Ganges pools will become part of the joint venture and will be managed by WOMAR from offices in Singapore and London.  The intent of the joint venture is to provide tanker owners in this market segment with worldwide market coverage and it will initially have a combined fleet of over thirty tankers ranging in size from 3,750DWT to 16,700DWT.

The transaction is expected to close on May 1, 2009.  Financial terms were not disclosed.

(www.w-o-shipping.com)
(www.heidmar.com)

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

People & Company News

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Sonar
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: 0.1235 sec (8 req/sec)