BW Group Acquires Majority Stake in Epic Gas

Shipping company BW Group announced today it has acquired a majority stake in LPG shipowner Epic Gas and has launched an unconditional offer to acquire the remaining shares of the company. Epic Gas is the largest commercial operator and second largest owner of small pressurized LPG carriers. It has a fleet of 39 vessels ranging from 3,500 to 11,000 cbm that typically serves … [Read more...]

Maersk Acquires U.S. Customs House Broker Vandegrift

A.P. Moller-Maersk has acquired US-based Customs House Broker, Vandegrift Inc., underscoring the shipping giant's focus on the logistics sector in 2019. The deal marks Maersk's first acquisition of the year. Maersk says Customs House Brokerage is a key component in its strategy to become an integrated container logistics company, providing end-to-end solutions to … [Read more...]

CMA CGM Aims for Ceva Logistics Breakeven in 2019 as it Takes Control

PARIS, Feb 12 (Reuters) - CMA CGM is aiming for Ceva Logistics to break even this year, its finance chief said on Tuesday, as the French shipping group opened a share offer to cement its control of the Swiss freight specialist. CMA CGM's public tender will offer other shareholders 30 Swiss francs ($29.75) per share, valuing Ceva at 1.67 billion francs, a price agreed after … [Read more...]

Kirby to Acquire Fleet of Cenac Marine Services for $244 Million

Houston-based Kirby Corporation has announced a definitive agreement to acquire the marine transportation fleet of Houma-based Cenac Marine Services for approximately $244 million in cash. Cenac’s fleet consists of 63 30,000-barrel inland tank barges with approximately 1.9 million barrels of capacity, 34 inland towboats, and 2 offshore tugboats. The closing of the … [Read more...]

DP World Completes Unifeeder Acquisition

By Gavin van Marle - DP World has completed its acquisition of European feeder and shortsea shipping line Unifeeder after this week securing clearance from European monopolies regulators. The €660m deal – the first in which a port operator has taken over a carrier – had been investigated by the European Commission’s competition department. “The commission concluded that … [Read more...]