Boskalis Acquires Fairmount Companies

MarineLink.com
Monday, March 03, 2014
Photo courtesy Boskalis

Royal Boskalis Westminster N.V. (Boskalis) announces that it has reached an agreement to acquire Fairmount Marine B.V. and Fairmount Ocean Towage Company B.V. (Fairmount) from the French group Louis Dreyfus Armateurs. The transaction values the company at an average multiple of approximately six times EBITDA.

Fairmount is a global provider of long distance ocean towage services operating five 205 metric tons bollard pull towing vessels with anchor handling capabilities.

The addition of these ocean going anchor handling tugs (AHTs) allows Boskalis to further expand its market position in both offshore energy and salvage. The use of ocean going tugs for long distance wet towage is complementary to Boskalis' current dry heavy marine transport offering. With the Fairmount assets, Boskalis can offer clients the full spectrum of heavy marine transport solutions tailored for the type of cargo or specific requirements. The AHTs also have the potential of being deployed into offshore projects thereby expanding Boskalis' current transport and installation offering and can be used in salvage projects.

Boskalis said its strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This acquisition is driven by the expansion of the global economy and increase in energy consumption, the company said.

boskalis.com
 

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

People & Company News

TSB Investigating Ferry, Pleasure Craft Collision

The Transportation Safety Board of Canada (TSB) is deploying a team of investigators to Laval, Quebec, following a collision between the ferry Paule II and a pleasure craft which occurred on August 1.

First Vessel of New Rescue Class Launched

Global shipping and energy services firm, Craig Group, has launched its first F-Class vessel, the Grampian Fortress. The IMT 958 multi-role emergency response and

MacArthur Lock Dewatered for Emergency Repairs

The U.S. Army Corps of Engineers, Detroit District, announced the MacArthur Lock, located on the Soo Locks at Sault Ste. Marie, Mich., is experiencing mechanical

News

Norwegian Epic to Sail from Port Canaveral

Port Canaveral will homeport Norwegian Cruise Line’s (NCL) largest ship and currently the third largest in the world—the Norwegian Epic—starting in November 2016,

GE Gas Turbines to Power US Navy’s New Destroyers

The U.S. Navy’s new DDG 121 and DDG 122 Arleigh Burke-class destroyers will be powered by eight LM2500 marine gas turbines supplied by GE Marine, who also received

TSB Investigating Ferry, Pleasure Craft Collision

The Transportation Safety Board of Canada (TSB) is deploying a team of investigators to Laval, Quebec, following a collision between the ferry Paule II and a pleasure craft which occurred on August 1.

Mergers & Acquisitions

GasLog Orders Two LNG Carriers

GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea.

Contship Italia Signs Iran MoU

Contship Italia Spa, also on behalf of Eurogate GmbH & Co. KGaA, KG, recently signed a strategic Memorandum of Understanding (M.O.U.) with Sina Port & Marine Company (SPMCO),

MHI: Notice of Absorption-Type Split Agreements

MHI gives Notice Regarding Conclusion of Absorption-type Split Agreements Relating to Transfer of Ship Construction and Hull Block Manufacture Businesses to Two

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators 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: 0.2126 sec (5 req/sec)