International Shipholding Strikes Deal to Acquire Jones Act Operator, United Ocean Services

International Shipholding Corporation (NYSE: ISH) announced Thursday that it has entered into an agreement to acquire a 100% ownership of U.S. United Ocean Services, LLC (UOS), a wholly-owned subsidiary of United Maritime Group (UMG), for approximately $111 million in cash. Founded in 1959, UOS operates the largest fleet of U.S.-flagged dry bulk carriers operating under the … [Read more...]

Kirby Continues Buying Spree With Purchase of Allied Transportation Company

Kirby Corporation (NYSE:KEX) announced Tuesday that it has entered into an agreement to purchase tug and barge operator Allied Transportation Company for $116 million. The deal includes the transfer of assets from Allied Transportation Company, a subsidiary of Allied Marine Industries, and two other affiliated companies. Allied is an operator of offshore barges and tugboats … [Read more...]

Kirby Expands Tank Barge Fleet – Good for Some, Not for All

Houston-based tank barge operator Kirby Corporation (NYSE:KEX) announced yesterday that the company has purchased Seaboats, Inc. and affiliated companies consisting of three 80,000-barrel coastwise tank barge and tug units. The three coastwise tank barge and tug units, which currently operate along the East Coast and have an average age of five years, were purchased for $42.3 … [Read more...]

Technip Complete Global Industries Aquisition

Technip (NYSE Euronext Paris: TEC) announced today that it has completed the acquisition of Global Industries, Ltd (NASDAQ: GLBL). The shareholders of Global Industries approved the merger at a special shareholders meeting held on November 30, 2011 and will receive US$8.00 per share in cash. Global Industries has become an indirect, wholly-owned subsidiary of Technip and … [Read more...]

Canadian pension fund aquires V.Ships

Canadian pension fund, OMERS Private Equity, has agreed to aquire V.Group, parent company of V.Ships, the world's largest supplier of independent ship management and other marine services, including offshore services.  As part of the agreement OMERS is replacing Exponent Private Equity as V.Group's financial partner. V.Group CEO, Clive Richardson, who will continue to lead … [Read more...]