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Mergers & Acquisitions

Fincantieri Acquires Comms Equipment Supplier

(File photo: Fincantieri)

Fincantieri said it has acquired a majority share in communications equipment supplier Support Logistic Services (SLS) as the Italian shipbuilding group continues its push to diversify and expand its product and service portfolio.Rome-based SLS, which produces, installs and maintens radar, satellite

North Completes Integration of Sunderland Marine

North Chief Executive Paul Jennings (Photo: North)

North P&I Club announced it has completed the integration of the Sunderland Marine Insurance Company Limited business into parent company The North of England Protecting and Indemnity Association Limited.The formal transfer of business, which takes effect Tuesday, comes six years after the merger of

DP World Completes Integration of Unifeeder and Feedertech

(Photo: DP World)

DP World announce Tuesday it has finished integrating its recent acquisitions Unifeeder and Feedertech, creating a feedering and shortsea network serving hundreds of ports across the globe.Unifeeder, which recently acquired Feedertech, operates feeder and shortsea services around northern Europe and

Mitsubishi Heavy in Talks to Acquire Mitsui E&S's Shipbuilding Business

© ldanupong / Adobe Stock

Mitsubishi Heavy Industries said it had agreed to begin talks with Mitsui E&S Holdings to acquire its shipbuilding business.A deal to acquire Mitsui E&S's shipbuilding unit could help Mitsubishi Heavy, Japan's biggest defense company, better compete for naval contracts. It could also mark a tentative

Shannon Buys Ardent's Australian Subsidiary

Ardent Oceania recently recovered containers lost from YM Efficiency off the coast of Australia. (Photo: AMSA)

The Ardent Group sold its Australian subsidiary Ardent Oceania Pty Ltd to its managing director Drew Shannon. It will continue as an independent company under the new name United Salvage Pty Ltd.Ardent, a maritime emergency management and wreck removal company created by the 2015 merger of salvage divisions of Svitzer and Crowley,

Gauging Impact of Fincantieri's French Deal to Take Time, Says EU's Vestager

(File photo: Chantiers de l'Atlantique)

Gauging the market impact of Italian shipyard Fincantieri's bid for France's Chantiers de l'Atlantique is proving difficult and is likely to take some time, the European Union's antitrust chief Margrethe Vestager said on Tuesday.Italy sees the deal by Europe's largest shipyard as an opportunity to create

EU Resumes Hyundai, Daewoo Deal Probe

© Angelika Bentin / Adobe Stock

EU antitrust regulators have restarted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries' $1.8 billion merger with Daewoo with a decision due by September 3.The European Commission, which warned in December that the deal to create a company with a 21% market share could push up prices,

Fugro Gets $17.3M from Huawei Marine Networks Deal

For illustration only - Image Credit: Fugro

Dutch offshore services provider Fugro has said it has received $17.3 million from the sale by Global Marine Group of a 30% stake in Huawei Marine Networks (HMN) to Hengtong Optic-Electric Co Ltd.  The proceeds are in addition to EUR 34.0 million which Fugro received in the first quarter of 2020 from the divestment of its 23.

Thyssenkrupp Seeks Partners for Steel, Warship Units

© p. nowack / Adobe Stock

Thyssenkrupp on Monday said it was looking for partners for its steel and warship divisions, singling out just three lines of businesses that will stay within the struggling German industrial icon.Hoping to stop the bleeding of cash and restore investor confidence, the group also pooled businesses worth 6 billion euros ($6.

Rand Completes American Steamship Acquisition

© Logan Vasicek / MarineTraffic.com

New Jersey-based Rand Logistics said Thursday it has completed its $260 million acquisition of rival Great Lakes shipping company American Steamship Company (ASC) from GATX Corporation.The combination of Rand and ASC moves almost 50 million tons annually of dry bulk commodities such as iron ore, coal

Thyssenkrupp, Union Call for Further Shipbuilding Consolidation

© g.nowack / Adobe Stock

Thyssenkrupp and Germany's largest union IG Metall on Thursday called for further consolidation of the country's warship sector, saying a tie-up of rivals Luerssen and German Naval Yards (GNYK) did not go far enough.Late on Wednesday, Luerssen and GNYK announced they would combine their defense divisions to create a national champion,

Thyssenkrupp, Fincantieri Discussing Shipbuilding Consolidation

(File photo: Thyssenkrupp)

Thyssenkrupp is exploring several strategic options for its warship unit, ranging from combining it with Italy’s Fincantieri to creating a national champion with German peers, a person familiar with the matter said.The talks are aimed at creating economies of scale for the division, Thyssenkrupp Marine Systems (TKMS),

Thyssenkrupp Discussing Warship Unit Consolidation

Photo courtesy of Thyssenkrupp

Thyssenkrupp is in informal talks about consolidation in the shipbuilding sector, its finance chief said on Tuesday, responding to speculation that the group might sell parts of its Marine Systems (TKMS) unit or merge it with rivals German Naval Yards and Luerssen.Klaus Keysberg told analysts that Thyssenkrupp

Odfjell Sells Stake in Dalian Termnial

Odfjell announced Monday that Odfjell Terminals (China) Pte. Ltd. (OTC) has today completed a sale of its 50% shareholding of Odfjell Terminals (Dalian) Co Ltd. (OTD) to VTTI Terminals I B.V., a subsidiary of VTTI group, for a total cash consideration of $59 million.Kristian Mørch, CEO of Odfjell said,

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