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Mergers & Acquisitions

Navios Partners Buys Five Rickmers Containerships

Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has acquired five containerships from Rickmers Maritime Trust Pte for $59 million.   The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26,850 into 2018 and early 2019. The vessels,

Acquisitions to Yield Better Results for Hoegh LNG

Höegh Gallant. Photo: Höegh LNG Partners LP

 Hoegh LNG Partners closed the acquisition of 51% interest in Höegh LNG Colombia Holding, the owner of the entities that own and operate the Höegh Grace on January 3, 2017.   The results of the Höegh Grace contributed to the Partnership's earnings for the full first quarter of 2017, says the company.

Hapag-Lloyd, UASC Complete Merger

Photo: UASC

 Hapag-Lloyd and United Arab Shipping Company (UASC) merged yesterday (May 25, 2017). The merger between the two liner shipping companies was completed in Hamburg.    With 230 vessels and a shared fleet capacity of approximately 1.6 million TEU, Hapag-Lloyd is the fifth-largest liner shipping company in the world.

Glencore Seeks to Grow via Acquisitions

File photo: Glencore

Mining and commodities trading group Glencore Plc would prefer to grow its business through acquisitions rather than greenfield investment, its chief executive said on Wednesday.   Addressing an annual general meeting in Cham, Switzerland, CEO Ivan Glasenberg also said there was "no reason to go into any new commodities,

DONG to Sell O&G Business to Ineos for $1.3 Bln

File photo: DONG Energy

Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said on Wednesday, the latest in a string of North Sea deals.   The sale is a blow to shipping group A.P. Moller-Maersk , which had sought to merge

Scorpio Tankers Merges with Navig8 Product Tankers

Photo: Scorpio Tankers Inc

 Scorpio Tankers has entered into definitive agreements to merge with Navig8 Product Tankers  and acquire Navig8’s 27 operating product tankers.   Subject to the terms and conditions of these agreements, Scorpio will acquire four LR1 tankers prior to the closing of the Merger (the LR1 Vessel Acquisitions)

Gnostech President Takes Controlling Ownership

James Espino (Photo: Gnostech)

Current president of Gnostech Inc., James Espino, has acquired the controlling ownership of the company from Braxton Science & Technology Group (BSTG) on May 19, 2017. As the president and controlling owner of Gnostech, Espino will lead the company into the future. “This is an exciting time for Gnostech.

Gulf Bidders Emerge for UASC-linked Shipping Unit

File photo: UACC

Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said.   Last week, sources told Reuters that Hapag Lloyd was close

Prysmian CEO Says Not Interested in Nexans

France cable maker Nexans is not the right target for industry leader Prysmian which is scouting for possible acquisitions, the chief executive of the Italian group said on Tuesday.   "There would be several overlaps with Nexans," CEO Valerio Battista said on the sideline of a conference, adding getting

BHP Hires Barclays to Divest US Shale Assets

Photo: BHP

BHP has hired Barclays to divest its U.S. Fayetteville shale gas assets as the miner seeks to fend off an attack by activist funds, two sources close to the matter said on Tuesday.   BHP said last month the gas-rich Fayetteville field in Arkansas was under review and that it was "considering all options, including divestment".

Performance Inflatables Acquires SUBSALVE

Engineered inflatables manufacturer SUBSALVE USA has been acquired by Performance Inflatables Company, and will continue to operate at its current location with its current staff as a subsidiary of Performance Inflatables Company.   “The additional support, resources, and knowledge of Performance Inflatables Company,

Sarawak State Govt Seeks Stake in LNG Train

Malaysia's Sarawak state government said it is negotiating with Petroliam Nasional Berhad to acquire a 10 percent equity stake in a liquefied natural gas (LNG) production facility at Petronas' LNG complex in Bintulu, Sarawak.   The government is looking to buy a stake in the LNG Train 9 facility, the site's ninth liquefaction unit,

Sinochem No Longer Pursuing Stake in Noble Group

China's state-owned Sinochem is no longer pursuing an investment in Noble Group Ltd due to concerns over the finances and business outlook of the loss-making commodity trader, three sources familiar with the matter told Reuters.   When it held talks with Noble earlier this year to buy a stake, Sinochem's thinking,

Fincantieri Buys Majority Stake in STX France

File Photo: STX France

Italian shipbuilding company Fincantieri S.p.A. said it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France shipyard from its current shareholder STX Europe AS. The agreement entails a purchase price of €79.5 million ($89 million).   Fincantieri

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