Energy Sector Volatility Affects Middle Market M&A Activity
Market volatility for the petroleum sector provides a backdrop to an evolving Merger & Acquisitions environment for the Offshore Sector. In the 3Q edition of Maritime Professional, this series of articles examined the overall evolution of maritime and offshore M&A activity since 2010, tracing the flow of deals in the post-financial crisis era. In this edition, we take a closer look at relevant U.S. offshore energy industry deal flow and market movements as they relate to oil prices over time, and highlight some recent middle market transactions.
Special Vessels “Built by Flensburger”
Flensburger Schiffbau-Gesellschaft, FSG, was founded in 1872 by a group of five local ship owners who previously had all their steamboats built in England as most German ship owners did in the 19th century. The first ship, the iron tall ship Doris Brodersen, was delivered to one of the founding partners in 1875. The cargo steamer Septima was commissioned a year later. In 1892 a floating dock, with a capacity of 2,300 tons has been built. At the turn of the year 1900, more than 2c000 employees worked at FSG.
German Shipbuilder FSG Taken Over by Siem Industries
The German Shipyard Flensburger Schiffbau-Gesellschaft (FSG) informs that it has a new owner: the Norwegian controlled Siem Industries will take over command of the shipyard, including all its employees. Peter Sierk and Frank Bywater, the two Managing Directors of FSG, welcome these re- cent developments. To them it is a necessary and just step in the right direction. “We are very glad about the new perspectives that open up, as a consequence of this decision. We welcome Siem Industries on board: This time not as a client, but as the new and rightful owner of the FSG. With the take-over, Sierk and Bywater expect the FSG to get further established and to hold a stronger position on the offshore market: “Siem Industries is a successful…
Offshore Marriage of Interests Judged Successful
Nor-Shipping 2013 'Agenda Offshore' hear the Director General of the Norwegian Shipowners’ Association pronounce the marriage of maritime and offshore oil and gas industries interests a success. The offshore industry is “a legitimate child” of the marriage between oil and gas as well as maritime companies. “It is maybe a relationship driven more by cooperation and innovation than by love or passion – a bit of an arranged marriage maybe – but today the offspring of this relationship are the specialized vessels…
Nor-Shipping 2013 Features Agenda Offshore Conference
Building on the success of its first offshore conference in 2011, Nor-Shipping will again host Agenda Offshore on June 5, signifying the importance of the maritime industry as it increasingly moves offshore to service the oil and gas industry. Speakers Helge Lund, CEO of Statoil, and Andy Brown, the Upstream International Director of Royal Dutch Shell plc, will share their insights as major oil and gas companies that are dependent on the maritime supplier industry for their cutting-edge technology and sophisticated equipment and vessels.
Korean Shipyard Wins Auto Marine Transport PCTC Orders
Auto Marine Transport contracts Samjin Shipbuilding Industries Korea (Samjin) to build a series of pure car & truck carriers (PCTC's). Auto Marine Transport, a tonnage provider created with the assistance of Siem Car Carriers, sign an intiial agreement with the shipyard to build eight energy efficient pure car and truck carrier (PCTC) vessels capable of carrying 6700 CEU (car equivalent units) and is made up of two firm orders and options for a further six vessels. Simon Stevens, Chairman of Siem Car Carriers, said “We are very pleased to have played a part in helping to establish Auto Marine Transport as the tonnage provider to access the energy-efficient PCTC market.
Siem Car Carriers at Houston Texas Break Bulk Expo
Siem Car Carriers to exhibit at upcoming Breakbulk Americas Transportation Conference & Exhibition. Siem Car Carriers operates a transpacific liner service, specializing in the movement of cars, roll on roll off (RO-RO), high, wide and heavy (OHW), break bulk & project cargo to provide a North America Pacific Asia (NAPA) liner service between Mexico, the US West Coast, China, Japan, Korea and Russia. The company says Its fleet is modern and efficient and that they work closely…
Siem Buys Option For NCL Shares
Siem Industries Inc. subsidiary Siem Leisure Industries Inc. acquired an option to purchase one million shares in cruise operator NCL Holding ASA. Siem said the option was acquired at a strike price of 18 crowns per share. The option expires Jan. 20, 2000. Siem Industries and its subsidiaries own 35,508,828 shares in NCL, or around 14.9 percent, in the form of ordinary shares and American Depository Receipts.
