Owned Subsidiary News

Equinor and its Brazilian subsidiary Rio Energy have started commercial power production at the Serra da Babilônia Solar facility in Brazil. Strategically co-located with the existing Serra da Babilônia Wind, this represents the first hybrid asset in Equinor’s power portfolio, comprising 140 MW of solar and 223 MW of wind capacity.Hybrid projects take advantage of the complementary nature of solar and wind resources, which generate power at different times of the day and throughout different seasons.

TotalEnergies Marketing Middle East, a fully owned subsidiary of TotalEnergies based in Dubai, has time chartered a first-of-its-type 750 cubic meter hybrid lubricants bunkering barge from Tristar Group to supplement its Lubmarine division’s ship-to-ship operations in the port of Fujairah, UAE as of October 1st. The Tristar Eco Voyager, featuring a hybrid engine design that combines electric and biofuel power, coupled with an advanced powertrain, is designed to significantly reduce carbon emissions compared to traditional diesel propulsion barges.

Seatrium Limited has announced that it has entered into a binding agreement with Brazilian vessel operator, Posidonia Shipping and Trading Ltda, an unrelated third party, to sell 100% equity interest in its indirect wholly-owned subsidiary, Guanabara Navegação Ltda (GNL). GNL is a special purpose vehicle that owns two units of platform supply vesselsThe total consideration for the sale of GNL is $59.7 million. This accretive divestment is in line with the Group’s strategic intent to divest non-core assets to enhance capital and operational efficiencies…

A management team led by industry veteran Geir Bjørkeli has completed the buyout of Yinson GreenTech's Norwegian subsidiary Yinson Green Technologies, establishing an independent company under the new name Nereida Energy.The move positions Nereida to advance battery solutions for the maritime industry, drawing on the leadership team’s deep sector expertise.Bjørkeli, formerly CEO of maritime battery specialist Corvus Energy and with past senior roles at Rolls-Royce and Huisman…

CMB.TECH has successfully completed the stock-for-stock merger between Golden Ocean Group Limited and CMB.TECH Bermuda, a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda Ltd. as the surviving company, and with CMB.TECH as the issuer of the merger consideration shares. CMB.TECH has issued 95,952,934 new ordinary shares by means of a capital increase by contribution in kind. These shares will be delivered to former holders of Golden Ocean shares as merger consideration at the exchange ratio of 0.95 ordinary shares of CMB.TECH for each common share of Golden Ocean.

Golden Ocean Group Limited (NASDAQ: GOGL; Euronext Oslo Børs: GOGL) has issued an update on its planned stock-for-stock merger with CMB.TECH NV (NYSE: CMBT; Euronext Brussels: CMBT), confirming the transaction could close as early as August 20, 2025.Under the agreement, Golden Ocean will merge with CMB.TECH Bermuda Ltd., a wholly owned subsidiary of CMB.TECH, with the latter as the surviving entity. Golden Ocean shareholders will receive 0.95 newly issued ordinary shares of CMB.TECH for each Golden Ocean common share, subject to customary adjustments.

Seatrium Limited’s wholly-owned subsidiary Seatrium Financial Services Pte. Ltd. (SFS) has successfully secured a $400 million sustainability-linked revolving credit facility with United Overseas Bank (UOB).The company says the credit facility aligns with its Sustainable Finance Framework and includes revolving credit features which will strongly enhance the group’s liquidity and financial flexibility. It will significantly contribute to Seatrium’s long-term goals of achieving its environmental…

Marlink, a specialist in managed services for business-critical IT solutions, has signed a definitive agreement to merge its fully-owned subsidiary Telemar Group with TNL Group, the Athens-based maritime specialist in high-quality technical, navigation, and safety services to the Greek shipping industry.As a key component of Marlink Group’s Possibility Platform, the merged entity will be a top three player in the maritime and superyacht OT/IoT service market, with more than 250…

LNG Canada has loaded the first cargo of liquefied natural gas that is now destined for global markets, marking the start of operations at Canada’s first large-scale LNG export facility.Located in Kitimat, British Columbia, the LNG Canada facility will export LNG from two processing units or trains with total capacity of 14 million tonnes per annum (mtpa).Shell Canada Energy, an affiliate of Shell, has the largest working interest in the LNG Canada joint venture, holding 40%, with other partners including Petronas…

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a long-term time charter contract with Mercuria Energy Trading S.A. for its fourth newbuilding, the previously announced LR1 tanker scheduled for delivery in early 2027.The vessel will be chartered to Mercuria for a firm period of four years, through early 2031, at a daily gross charter rate of US$23,750. The agreement provides Mercuria with options to extend the charter for up to three additional one-year periods.

CMB.TECH and Golden Ocean Group have signed an agreement and plan of merger for a stock-for-stock merger, as contemplated by the term sheet previously announced on April 22.The transaction is structured as a merger, with Golden Ocean merging with and into CMB.TECH Bermuda, a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda as the surviving company.The merger will create one of the largest listed diversified maritime groups in the world with a combined fleet of approximately 250 vessels.CMB.TECH’s strategy of diversification and decarbonization was in full swing in Q1 2025…

Akastor’s fully-owned subsidiary DDW Offshore has canceled the sale of Skandi Peregrino anchor handling tug supply (AHTS) vessel.The agreement to sell Skandi Peregrino AHTS, first announced in early March 2025, was conditional on charterer's consent.At the time, Akastor reported the purchase price was $25 million by an unnamed buyer, with the agreement expected to be completed in the second quarter of 2025.Since the charterer has not accepted to novate the relevant contract on the vessel…

Norwegian geophysical services company Electromagnetic Geoservices (EMGS) has established a new business platform within the offshore subsea construction market, having entered into a set of agreements for the acquisition of Siem Day offshore subsea construction vessel (OSCV).A newly formed subsidiary of EMGS will acquire the OSCV Siem Day from the seller Siem Day II, which is a wholly-owned subsidiary of Siem Offshore.The acquisition represents a strategic diversification for EMGS…

Belgium-based offshore installation services company DEME has completed the acquisition Havfram, an offshore wind installation contractor based in Norway, in a deal valued at approximately $1.02 billion (€900 million).The transaction, first announced in April 2025, has passed all customary closing conditions.DEME Offshore Holding, a wholly-owned subsidiary of DEME Group, has acquired all of the shares in Havfram Wind Holdco from Sandbrook Capital and the Public Sector Pension…

CMB.TECH and Golden Ocean Group have signed a term sheet for a contemplated stock-for-stock merger, with CMB.TECH as the surviving entity, based on an exchange ratio of 0.95 shares of CBM.TECH for each share of Golden Ocean.The Term Sheet has been unanimously approved by CMB.TECH’s Supervisory Board and by Golden Ocean’s Board of Directors, including its special transaction committee composed of disinterested directors.The transaction would be structured as a merger with Golden Ocean merging with and into CMB.TECH Bermuda Ltd.…

Akastor, through its fully-owned subsidiary DDW Offshore, has entered into a binding agreement to sell Skandi Peregrino anchor handling tug supply (AHTS) vessel.Skandi Peregrino AHTS has been sold for the purchase price of $25 million to an unnamed buyer.The agreement is entered into on Saleform 2012 terms, suitably amended, and completion is conditional on charterer's consent.The agreement is expected to be completed in the second quarter of 2025 whereby about $10 million of…

A.P. Møller Holding has, through its wholly owned subsidiary APMH Invest (APMHI), made an all-cash voluntary recommended purchase offer to the shareholders of Svitzer Group to acquire all issued and outstanding shares of the company.A.P. Møller Holding, through its wholly owned subsidiary APMHI, currently owns 47% of the share capital and voting rights of Svitzer.The offer price values Svitzer's total share capital at approximately $1.3 billion (DKK 9.0 billion) and represents a premium of 31.7% against to the closing share price April 1…

Shell Eastern Trading, a subsidiary of Shell plc, has completed the previously announced acquisition of 100% of the shares in Pavilion Energy.Pavilion Energy, headquartered in Singapore, operates a global LNG trading business with contracted supply volume of approximately 6.5 million tonnes per annum (mtpa). The acquisition includes Pavilion Energy’s portfolio of LNG offtake and supply contracts, regasification capacity and LNG bunkering business.This acquisition helps to deliver on Shell’s ambition to solidify its leading position in LNG by growing sales by 4-5% per year through to 2030.

Mitsui O.S.K. Lines (MOL) has signed a long-term charter contract for three newbuilding very large ethane carriers (VLECs) with SCG Chemicals, a wholly owned subsidiary of Thailand's Siam Cement Group (SCG).The 100,000 m3 VLECs, spanning 230 meters in lengths and with breadths of 36.6 meters, will be built at Samsung Heavy Industries, and are scheduled for delivery in 2027.The vessels will be equipped with dual-fuel ethane propulsion engines, which will reduce greenhouse gas, sulfur oxide…

Windward Offshore has established a partnership with Marubeni Corporation. Windward, with a fleet of four CSOVs (Commissioning Service Operation Vessels) currently under construction at VARD shipyards, secured a senior loan facility of up to EUR 182m at the end of 2024, and in February 2025 Windward Athens, the first vessel in the series, was launched, scheduled.The partnership was finalized with Windward Offshore raising new equity to fund future growth, and Marubeni Corporation acquiring the new shares through a wholly owned subsidiary…

ClassNK has issued an Approval-in-Principle (AiP) certificate for an ammonia fueled ammonia bunkering vessel designed by NYK and its partners.Seatrium, through its wholly-owned subsidiary, LMG Marin provided engineering expertise for the vessel’s design, which will now be submitted to the Maritime and Port Authority of Singapore (MPA) for evaluation.Safety philosophies on the safe use of ammonia, for example in the engine room, were developed to ensure compliance with the IMO’s interim guidelines for the safety of ships using ammonia as fuel…

Worley has secured a contract by German state-owned Deutsche Energy Terminal (DET) for Phase 2 of the Brunsbüttel Floating Storage Regasification Unit (FSRU) terminal in Brunsbüttel, Germany.Under the contract, Worley will provide construction, installation and commissioning services, through its offices in the United Kingdom and Germany.Separately, Worley is also providing engineering and procurement services.DET, a wholly owned subsidiary of the German federal government, states…

MOL Energia, a subsidiary of Mitsui O.S.K. Lines (MOL), has signed long-term charter contracts with SCG Chemicals, a wholly owned subsidiary of the Siam Cement Group (SCG), for two very large ethane carriers (VLECs), to be built in South Korea.The charter for two more VLECs comes in addition to three vessels already contracted by SCG Chemicals in January 2025.Of the approximately 90 dedicated liquefied ethane carriers currently in service or on order worldwide, this deal will…