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Mergers & Acquisitions

Keppel, Sembcorp Merger on the Cards ?

Photo: Sembcorp Industries

 A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS).   DBS said that with orders at a trough and expectations for only a modest recovery, a merger

Engineering Entrepreneur Buys Wren Industrial

(Photo: Wren Industrial & Marine Fabrications)

Merseyside maritime company Wren Industrial & Marine Fabrications has been bought by Merseyside entrepreneur and former member of the Armed Forces Jonathan Willoughby.   Bootle-based Wren Industrial has been run for 27 years by husband and wife team David and Helen Wren. It specializes in manufacturing doors,

Schlumberger to Acquire Majority Stake in Eurasia Drilling

Photo: Eurasia Drilling Company

 Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV.   The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of

China Acquires Global Ports: FT

File photo: China COSCO Shipping

 With the aim to dominate maritime industry China has been acquiring overseas ports with huge investments which crossed USD 20 bln last year, Financial Times reported.   Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power, says the report.

Solstad Farstad Sells 2010-Built AHTS

Far Shogun. Photo:  SolstadFarstad ASA

 Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway.  The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced.

Kuehne Raises Hapag-Lloyd Stake to 17 pct

File Image (CREDIT: Hapag Lloyd)

Logistics entrepreneur Klaus-Michael Kuehne has raised his shareholding in German container shipping line Hapag-Lloyd to 17.15 percent from 14.1 percent, his Swiss-based Kuehne Holding said on Thursday.   Kuehne was taking advantage of shares being sold by TUI , which on Tuesday completed the disposal of its remaining 7.

Rickmers to Sell its Last 9 Vessels to Navios

File photo: Rickmers Maritime

 HSH syndicate, comprising HSH Nordbank and DBS Bank, has approved the sale of the remaining nine of 14 vessels of Singapore-based Rickmers Trust Management for some $54 million to Navios Partners Containers and Navios Partners Containers Finance.  The total consideration will also include an amount

A Full Agenda for the International Container Trades

(Photo: Maersk Line)

The past couple of months have been chock-a-block full of maritime activity in the international container trades.    As the Big-3 Japanese Lines remain still on track to spin-off their container business units into a single standalone container carrier company, some delayed merger and acquisition activity is finally moving ahead.

Jeremy Nixon is CEO of ONE Ocean Network

Photo: Mitsui O.S.K. Lines

 The management of the new company,  Ocean Network Express Holdings (ONE) -  the joint venture between three Japanese shipowning societies Kawasaki Kisen Kaisha ("K" Linens), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) was unveiled.   The existing NYK Line chief executive Jeremy Nixon named as the chief executive of ONE.

OOCL is 'The Perfect Bride' -Drewry

Photo: OOCL

Orient Overseas International (OOIL) and its container unit OOCL have a good track record for above-average profits in a challenging market and a reputation for being a very well-run company, earning the moniker “The Perfect Bride” by Drewry Maritime Financial Research.    Retaining the management team,

OSV Companies Running Out of Options -Study

© corlaffra / Adobe Stock

As oil continues to sell below $50 per barrel, 2017 could be one of the toughest years in decades for Offshore Supply Vessel (OSV) companies, according to a study of 44 companies in the industry by AlixPartners.   The firm’s analysis highlights these companies’ rising debt burdens, making it increasingly

COSCO Shares Climb After OOIL Bid

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

COSCO Shipping Holdings Co Ltd saw its stock climb on Monday after bidding $6.3 billion for a Hong Kong peer, a deal that would see it become the world's third-biggest container shipper and underline China's supply-chain ambitions.   The offer for Orient Overseas International Ltd (OOIL) comes as

COSCO to Buy OOCL for USD 6.3 bln

Photo: Orient Overseas Container Line Limited

 Chinese Shipping Major Cosco Group has agreed in principle to buy its shipping rival and  Hong Kong’s No. 1 box mover, Orient Overseas Container Line (OOCL), in deal that could be valued around USD 6.3 billion.  The takeover will catapult Cosco the world’s third-biggest container carrier after Denmark’s

Yildirim to Sell its Stake in CMA CGM

Photo: Yildirim Holdings AS

 Turkish port operator Yildirim Holdings AS has announced plans to sell its 24 percent stake in the French shipping major CMA CGM, Bloomberg reported.   The company mandated China Citic Bank Corp. to find investors from Asia or the Persian Gulf for its interest in the world’s third biggest container shipping company.

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