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Mergers & Acquisitions

Aurizon in Talks to Buy Debt-saddled Coal Port

(Photo: WICET)

Australian coal rail operator Aurizon Holdings said on Monday it was in talks to buy the Wiggins Island Coal Export Terminal (WICET), which urgently needs to restructure $3 billion in debt.   A purchase would mark a change in strategy under new Chief Executive Andrew Harding for Australia's largest rail freight operator,

Shell Sells Out of Woodside Petroleum for $2.7 Bln

Royal Dutch Shell on Monday sold its entire stake in Australia's largest independent oil and gas company Woodside Petroleum Ltd for $2.7 billion as it pushes ahead with its vast disposal programme. Shell, which has been slowly divesting its Woodside holding, initially said its Shell Energy Holdings

China OKs Maersk Hamburg Süd Deal

Image: Maersk Line, Hamburg Süd Deal

 The Ministry of Commerce (MOFCOM) in China approved Danish shipping giant Maersk Line’s proposed acquisition of Hamburg Süd, reported Reuters.  Maersk Line, the world’s biggest container shipping company, will pay 3.7 billion euros ($4.3 billion) to buy German rival Hamburg Sud.   However, China

Shell Trading, Harvey Gulf ink LNG Transport Contract

An artist's depiction of a Q-LNG transport vessel (CREDIT: Harvey Gulf)

Harvey Gulf International Marine’s CEO Shane Guidry announced today the formation of new marine transportation company, Quality Liquefied Natural Gas Transport, LLC (“Q-LNG”), owned 70% by Shane Guidry and 30% by Harvey Gulf.   Q-LNG will own and operate assets providing marine transportation of liquefied natural gas (“LNG”),

Maersk Steers Annual Shipping Forecast Lower

The Madrid Maersk, a 20,000+ TEU boxship. (CREDIT: Maersk)

Maersk restates annual guidance after energy deal; lowers forecast for its key container business.   A.P. Moller-Maersk , the world's largest container shipping group, cut the profit forecast for its core business on Tuesday after a costly cyber attack and a weaker than expected third quarter.   Maersk,

Craig Group Sells Shipping Business

Douglas Craig, Chairman and Managing Director, Craig Group. Photo: Craig Group

 Family-owned Craig Group, of Aberdeen, has sold its core North Star Shipping business to international investors  Basalt Infrastructure Partners in a move described as “restructuring for a new era”.   "North Star Shipping has been acquired by Basalt Infrastructure Partners. The existing senior management team,

Bishop Appointed Chairman of Selandia Ship Management

Bob Bishop (Photo: Selandia Ship Management)

V.Group announced Bob Bishop has been appointed chairman of Selandia Ship Management in addition to his current role in business development of the Group. The acquisition of Selandia Ship Management in 2016 provided V.Group a unique opportunity to promote and develop a well-established specialist brand working in vibrant and developing markets.

Chrysaor to Begin Oil Drilling in 2018 after Shell Purchase

(Photo: Chrysaor)

North Sea producer Chrysaor plans to begin drilling for oil and gas in early 2018 after completing a $3 billion acquisition from Royal Dutch Shell, Chrysaor Chairman Linda Cook said on Wednesday.   Chrysaor became the largest independent oil and gas producer in the Britain's North Sea following the deal,

Sojitz Buys Spanish LNG Terminal

Pic:  Sojitz Corporation

 Japan's Sojitz Corporation has acquired full ownership of First State Regasificadora (FSR), subsequently changing the company’s name to Sojitz Regasificadora (SR).     SR owns a 15% stake in Regasificadora del Noroeste (Reganosa), whose assets include the LNG terminal located in Mugardos, located in the northwest of Spain.

MPC Container Ships Adds Two More Boxships

Photo: MPC Container Ships AS

Oslo-based shipping company MPC Container Ships has continued its fleet expansion with the addition of two more container vessels; to take delivery of the vessels next month.   The expanding start-up company purchased a 2,564 TEU vessel, which will be named AS Petulia, and a 1,200 TEU ship, to be named AS Frida.

Attica Buys Grimaldi Stake in Hellenic Seaways

Photo: Hellenic Seaways

Attica Group has announced that it reached an agreement with Minoan Lines, owned by Naples-based Grimaldi Group, for the acquisition of its 48.53 percent stake in Hellenic Seaways.    According to an announcement, the agreement provides for Attica Group to purchase Hellenic Seaways’ shares for 78.

Naviera Armas Buys Trasmediterranea from Acciona

Photo: Acciona

 Acciona has reached an agreement to sell its 92.7% stake in Trasmediterranea to the Naviera Armas Group. Acciona's stake is being sold for 260.4 million euros, and the buyer will assume 127.3 million euros of debt owed by Trasmediterranea to Acciona group companies.    The final price could increase

JA Moody Acquires Pima Valve

Frank Buzan, Chairman of JA Moody and Pima Valve

Acquisition expands operational capabilities to include design and manufacturing and demonstrates commitment to U.S. based manufacturing sector. Moody says that it will provide a broader suite of products for its marine and commercial customer base.   JA Moody, a privately held family business with its headquarters in Malvern,

Hess Corp Sells Offshore Equatorial Guinea Assets

Okume complex in Equatorial Guinea. Photo: Hess Corporation

 Hess Corporation has entered into an agreement to sell its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650 million, effective January 1, 2017.   “This sale is a further step in our strategy to focus our portfolio by investing in higher return assets and divesting more mature,

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