Controlled Subsidiary News

Contship Italia SpA has sold its 50 percent share in the southern Italian port of Gioia Tauro, which includes the Medcenter Container Terminal (MCT).A press release said: "Contship, a fully controlled subsidiary of Terminal Investment Ltd (TIL) have executed a share purchase agreement concerning the sale of 50% of CSM Italia Gate S.p.A., the company which owns 100% of MCT."MCT is the concessionaire of the container terminal activities in the port of Gioia Tauro and TIL already owned 50% of CSM Italia Gate S.p.A.The parties involved are not disclosing terms. Regulatory approvals are still pending.At closing, TIL will own 100% of CSM Italia Gate S.p.A. and will indirectly control all the shares of MCT.Contship Italia S.p.A.

Dutch-Belgian-Trading GmbH (DBT) has acquired Hamburg based SevenCs GmbH and ChartWorld GmbH from Admiralty Holdings Limited (AHL), a wholly-controlled subsidiary of the United Kingdom Hydrographic Office (UKHO). Mr. Jochen Rudolph, Managing Director of DBT, said: “DBT has exciting and ambitious plans to develop a completely new concept for integrated ECDIS and digital chart data services aimed at the SOLAS retrofit market. At the same time as announcing the acquisition  of ChartWorld and SevenCs, Mr. Rudolph also announced that DBT are currently recruiting new staff – especially in sales - and will shortly be opening new offices in Singapore and Cyprus to provide sales, service and support for the Asian and Mediterranean markets.

According to a Jan 19 report from CapitalVue News, China Shipping Haisheng’s wholly-controlled subsidiary, Shenzhen Sanding Oil Trading, ordered a 76,000-ton crude oil carrier for 384 million yuan, reports 163.com, citing a company filing. (Source: CapitalVue News)

Earlier this year, Wirth became a fully controlled subsidiary of Aker Solutions, a Norwegian-owned company. Wirth Maschinen- und Bohrgeräte-Fabrik GmbH has since changed its name to Aker Wirth GmbH, reflecting the change of ownership and the integration that has taken place since the acquisition. The acquisition is intended to strengthen collaboration on Aker Solutions drilling activities and Wirth’s mining and construction division. Newly-produced building signage, machine labeling, corporate brochures and marketing materials all reflect the name change.