Dutch marine services provider Royal Boskalis Westminster N.V. and KOTUG International B.V., a leading harbor towage company also based in the Netherlands, have agreed to merge their European harbor towage businesses. The two companies on Monday announced they have signed a Memorandum of Understanding to establish a 50/50 joint venture that will combine the European harbor … [Read more...]
Regulators Clear Way for Merger of Hapag-Lloyd and CSAV
Update: Hapag Lloyd and CSAV Complete Merger FRANKFURT, Dec 2 (Reuters) - Germany's Hapag-Lloyd said on Tuesday it had received the last outstanding regulatory approvals for its planned merger with Chilean shipper Compania SudAmericana de Vapores, clearing the way for the two companies to be formally combined. The merger, which will create the world's No. 4 … [Read more...]
Maersk Broker May Look at Mergers as Other Shipbrokers do Deals
COPENHAGEN, Nov 27 (Reuters) - Major ship brokerage firm Maersk Broker is looking into possible mergers and joint ventures after a spate of deals in the broking industry which is gearing up for a revival in the international shipping business after a five-year downturn. Earlier this month, London-based ICAP said it was in talks to combine ICAP Shipping with Howe Robinson … [Read more...]
Knightsbridge and Golden Ocean Group Merger Creates Dry Bulk Giant
Dry bulk shippers Golden Ocean Group Ltd (OSE: GOGL) and Knightsbridge Shipping Ltd (Nasdaq: VLCCF) have entered into an agreement today to merge resulting in one of the largest dry bulk shipping companies in the world with 72 vessels, 36 of which are under construction. A significant portion of the newbuildings were originally ordered by Frontline 2012, a company controlled … [Read more...]
KKR Partners With OEG Offshore Group
Investment firm KKR announced today it has acquired a majority stake in Aberdeen-based OEG Offshore Group, a company that supports the offshore oil and gas by manufacturing and leasing Cargo Carrying Units (CCUs) to offshore oil and gas operators. These CCUs are essentially purpose-designed and built boxes that are loaded with cargo on to the deck of an offshore supply boat … [Read more...]