SEACOR Marine to Acquire Brazil's UP Offshore
SEACOR Marine Holdings, the provider of marine and support transportation services to offshore oil, has announced the acquisition of UP Offshore (Bahamas) by a new joint venture company that is 49% owned by a subsidiary of SEACOR Marine and 51% owned by a subsidiary of Proyectos Globales de Energía y Servicios CME.UP Offshore is a leading provider of offshore support vessel services to the energy industry in Brazil, the largest regional market in Latin America, said a press release.Of UP Offshore’s 14 vessel fleet, 12 vessels are located in Brazil and registered under the Brazilian flag. Nine are platform supply vessels, four are ROV…
Singapore Approves Japan Shipping JV
The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines. Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK), announced last year an integration of their container shipping business with the establishment of a joint venture by 1 July 2017 and the commencement of joint servce from 1 April 2018. Under the JV, the Parties will merge their container liner shipping business, and their container terminal services businesses outside Japan. The only overlapping service of the Parties that would affect Singapore is the provision of container liner shipping services.
Teekay and TORM Complete Acquisition of OMI
Teekay Corporation A/S Dampskibsselskabet TORM and OMI Corporation announced the completion of Teekay and TORM's acquisition of OMI through their jointly owned subsidiary, Omaha, Inc. (Omaha). As a result of the acquisition, all the remaining outstanding OMI shares (other than shares owned by Teekay, TORM or Omaha, or any of their respective subsidiaries) were cancelled and converted into the right to receive $29.25 per share, net to the seller in cash without interest, less any required withholding taxes. Effective as of the close of business today, OMI's shares are no longer traded on the New York Stock Exchange. As a result of the acquisition, the previously announced annual meeting of OMI shareholders, scheduled to be held on June 28, 2007, has been cancelled.
Crowley Consolidates Environmental, Safety and Quality Assurance Programs
Charles Nalen, vice-president of environmental, safety and quality assurance for Crowley Marine Services, will expand his role and direct these programs under contract to other Crowley Maritime Corp. subsidiaries worldwide. Programs will include the expanded use of the ISO 9000 and Q1 Quality Management System, as well as other safety and environmental protection measures. In his new capacity, Nalen will expand his department to provide the Crowley Marine Services ESQA program to Crowley American Transport and Crowley Logistics, as well as their respective subsidiaries. Under Nalen's management, CMS has seen a continued reduction in personal injuries and property damage.
