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CURRENT ISSUE

BEATING THE PIRATES
What's the best way for a shipowner to avoid having a ship hijacked by pirates?

Reroute the ship even if it means a huge diversion
Stay within recommended safe limits and patrolled areas
Hire an on-board security team
Just hope for the best

November 13, 2008

Management buy out at FSG

Newspaper Kieler Nachrichten reports that Flensburger Schiffbau Gesellschaft (FSG) is to be acquired from Egon Oldendorff by President and CEO Peter Sierk in a management buy out backed by Munich-based Orlando Management GmbH.

FSG, the German yard that built BC Ferries' three recently delivered Super C Class vessels, is a leading builder of RO/RO freight ferries and other tonnage with an order book extending into 2013.

No word on the price, but the deal is set to close January 1, 2009.


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