Seacor Continues Rational Fleet Expansion
Seacor — through an unprecedented string of strategic and financially sound acquisitions — has emerged as one of the world's premier operators of a fleet of vessels that provide marine services to the oil and gas exploration and production industry, and oil spill response services in the U.S. Gulf of Mexico, North Sea, offshore West Africa, the Far East and Latin America. For the fiscal year ended December 31, 2000, the company announced net earnings of $11.1 million on revenues of $88.3 million. For the 12 months ended December 31, 2000, net earnings were $34.1 million on revenues of $339.9 million. The improvement in the fourth quarter…
Stake In Ferry Company Sold
SembCorp Logistics Ltd. has entered into a conditional sale and purchase agreement with Kalpin Trading and Shipping Pte Ltd. for its 30 percent stake in Auto Batam Ferries & Tours for S$2 million. Currently, SembCorp Logistics and Kalpin have equity interests of 70 percent and 30 percent, respectively, in Auto Batam. SembCorp Logistics said Auto Batam had also entered into a conditional sale and purchase agreement with Penguin Boat International Ltd. for disposal of all its assets and businesses for a total consideration of S$28.5 million. It said the second agreement was conditional upon the approval of Penguin Boat's shareholders, and the first agreement depended on conclusion of the second pact.
Keppel Hitatchi Buys Keppel Marine Shiprepair, Shipbuilding Business
Keppel Hitachi Zosen Ltd. has reportedly agreed to buy Keppel Marine Industries Ltd.'s shiprepair and building business for $98.9 million in cash. Keppel Hitachi said it would acquire all of Keppel Marine's investments in Keppel Singmarine Dockyard Pte Ltd., Eagle Engineering Pte Ltd., Keppel UAE-Investment Pte Ltd., Keppel Philippines Marine Inc., and Penguin Boat International Ltd.
