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Completes Acquisition

U.S. Shipping Partners Completes Acquisition

U.S. Shipping Partners announced has completed its recently announced acquisition of the Sea Venture, a 19,000 dwt double-bottomed chemical/product tanker. The vessel was re-built in 1983 and is capable of carrying twenty different grades of product in independent cargo tanks. The vessel is being placed in drydock and will be available for trading in April 2006. The transaction was financed utilizing available cash.


Statoil Buys into Brazil’s Santos Basin

Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8     Statoil and Petrobras have completed their previously announced transaction, whereby Statoil has acquired Petrobras’ 66 percent operated interest of the BM-S-8 offshore license in Brazil’s Santos basin.   BM-S-8 contains a substantial part of the Carcará pre-salt oil discovery.  


Chemoil Completes Acquisition

Chemoil has fully acquired Allround Fuel Trading Chemoil B.V. (AFT). Chemoil had previously acquired a fifty percent stake in AFT during 1998 and recently announced that it has entered into an agreement to acquire another 50 percent stake in AFT. Following this acquisition, AFT will become a wholly owned subsidiary of Chemoil and will be renamed as Chemoil Europe BV.


Cal Dive Completes Acquisition of Horizon

Cal Dive International, Inc. announced has completed its acquisition of Horizon Offshore following approval by Horizon's shareholders on December 10, 2007. As a result of the acquisition, each share of Horizon common stock has been converted into the right to receive $9.25 in cash and 0.625 shares of Cal Dive common stock. Information regarding the exchange of share certificates will be sent to Horizon shareholders as soon as practicable.


Clarksons Post Robust 2H Performance

Courtesy Clarksons

  Clarkson PLC, world’s leading shipping services group, reported robust performance during the six months ended 30th June 2015. Summary  Robust performance despite continued challenging market conditions in some of our markets  Strong performance from broking division in tankers, specialised products and gas markets  Clarksons Platou Securities completed a number of significant transactions with pipeline looking strong for the second half of 2015


Acteon Completes Acquisitions

Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS) and Chain Corporation International (ChainCo). David Currie will continue to lead Seatronics; and Alan Duncan will head IMS and ChainCo. Both will report to Acteon Vice President Bernhard Bruggaier. The activities of IMS and ChainCo are very much in line with existing Acteon companies InterMoor and Trident – the two new companies will


Nordic American Tankers Acquires Scandic American Shares

Nordic American Tankers Ltd. ("NAT") Completes Acquisition of Scandic American Shipping Ltd., the Business Manager of NAT.   On December 17, 2012 NAT (NYSE: NAT) announced that it had acquired 100% of the shares of Scandic American Shipping Ltd. ("Scandic"), its management company since 2004. This transaction has now been completed. The Company acquired Scandic from a company controlled by Herbjørn Hansson, NAT's Chairman and CEO, and his closest family


United Defense Completes Acquisition of Honolulu Shipyards Assets

United Defense Industries, Inc. has completed its acquisition of the U.S. Navy ship repair business of Honolulu Shipyard Inc. (HSI) for $16.1 million. HSI had revenues of $40 million in 2003. The new company, Hawaii Shipyards, Inc., will continue to partner with Southwest Marine (SWM), a unit of United States Marine Repair (USMR), a UDI subsidiary. The Company recently announced a teaming agreement with Bath Iron Works, a subsidiary of General Dynamics, for work on the USS CHAFEE (DDG 90)


Aker Sells Mooring and Loading Unit to MacGregor

Photo: Aker Solutions

Cargotec's MacGregor has completed the acquisition of the mooring and loading systems unit from Aker Solutions. Cargotec announced the agreement to acquire the unit in October 2013 for an enterprise value of approximately €180 million. The unit will be consolidated into MacGregor's results as of February 1, 2014. "The addition of the mooring and loading systems' team members, technologies and products further positions MacGregor as a true leader in the marine and offshore


CP Ships and Dannebrog Agree To End Nordana Acquisition

CP Ships and Dannebrog have decided not to proceed with the planned acquisition of Nordana Line by CP Ships. In the month since the acquisition plan was announced on November 14, further discussions revealed a number of issues that prevented the transaction from being completed to both parties' satisfaction. CP Ships remains committed to its strategy of making selective acquisitions to reinforce its position in its principal regional markets.


Tidewater Reorganization Gets Court's Okay

Tidewater Logo by Tidewater Inc

 Tidewater, one of the world's largest offshore vessel owners, said that a court in Delaware approved the company's plans for a restructuring has, which would eliminate $1.6B in debt.  The US-based owner of one of the world’s largest fleets of OSVs will be able to recapitalise and


Kuehne Raises Hapag-Lloyd Stake to 17 pct

File Image (CREDIT: Hapag Lloyd)

Logistics entrepreneur Klaus-Michael Kuehne has raised his shareholding in German container shipping line Hapag-Lloyd to 17.15 percent from 14.1 percent, his Swiss-based Kuehne Holding said on Thursday.   Kuehne was taking advantage of shares being sold by TUI


IMS Announces New Client: Campbell Transportation

Dave Hammond (Photo: IMS)

U.S. inland vessel management company Inland Marine Service (IMS) said it has taken on Campbell Transportation Company as its latest client.   A fully integrated marine services company, Campbell is currently undergoing an acquisition with American Commercial Barge Line


Campbell Acquires ACBL Assets

Marine services company Campbell Transportation Company, Inc. (CTC) said it has completed the acquisition of certain affreightment contracts along with 155 barges and four towboats from American Commercial Barge Line LLC that will operate on the Ohio River system.  


CMA CGM Sells L.A. Box Terminal Stake

File Image (CREDIT: AdobeStock / (c) Ginton)

French container shipping firm CMA CGM said on Monday it had agreed to sell a 90 percent stake in a Los Angeles terminal to infrastructure funds for $817 million in cash.   CMA CGM will retain a 10 percent interest in the Global Gateway South terminal after the deal with funds EQT


Landay Joins Gibbs & Cox Board of Directors

Naval architecture and marine engineering firm Gibbs & Cox, Inc. said that William E. "Bill" Landay III, President of W.E. LANDAY Consulting LLC, has been elected to its Board of Directors effective June 20, 2017.   "[VADM Landay’s] expertise in the areas of foreign


Damen Completes Keppel Verolme Takeover

(Photo: Damen)

Damen Shiprepair & Conversion (DSC), a part of Damen Shipyards Group, said it has finalized its acquisition of the Keppel Verolme shipyard from Keppel Offshore & Marine. DSC’s acquisition of the yard follows an initial agreement made between the two parties in April of this year


International Seaways Acquires Two Suezmax Tankers

Photo: International Seaways

 International Seaways announced it has entered into an agreement to acquire two Suezmax tanker newbuildings constructed at Hyundai Samho Heavy Industries shipyard.   The vessels are expected to deliver to the Company by the end of July 2017


Frontline Alters Course, Drops DHT Pursuit

Photo: DHT Holdings

CEO: Frontline will continue to expand its fleet; won't pursue M&A now, though consolidation may come later.   Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions


Navico Acquires Naviop

Marine electronics manufacturer Navico, parent company to the Lowrance, Simrad and B&G brands, announced it has finalized an agreement to acquire marine monitoring and control systems provider Naviop.   Providing the integration framework to capture data from all boating systems


Crowley Names Michel VP, Human Resources and Learning

Susan “Suz” Michel (Photo: Crowley)

Crowley Maritime Corp. has appointed Susan “Suz” Michel as vice president of human resources and learning, bringing all aspects of human capital management under her leadership – from talent acquisition to training and professional development to long-term employee retention.


NORDEN Adds Another MR Tanker

A NORDEN MR product tanker (Photo: NORDEN)

 Denmark based NORDEN said it has purchased a seven-year-old Japanese-built MR product tanker, its second vessel acquisition within a month.   The purchase follows the acquisition of a 2009-built MR product tanker to be named Nord Pearl.  


Indian Navy Launches Floating Dock

Photo: Indian Navy

 The first indigenously built Floating Dock (FDN-2) for the Indian Navy was launched on 20 June 2017 by Smt Anjali Deshpande, wife of Vice Admiral DM Deshpande, AVSM, VSM, Controller of Warship Production & Acquisition at an impressive ceremony at Larsen & Toubro Ltd (L&T)


Kirby Corp Acquires Stewart & Stevenson

File photo: Kirby Corporation

Houston based tank barge operator Kirby Corporation said it has signed an agreement to acquire the assets and businesses of Stewart & Stevenson LLC for approximately $710 million. The agreement was signed on June 13 by the companies’ executive chairmen, Joseph H


Baltic Exchange Mulls New Freight Indexes for Grains, LNG

© sarymsakov / Adobe Stock

The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said.  






 
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