Major P&I merger set to go ahead
Get ready for a new name in P&I: NorthStandard. Two major players in the marine mutual insurance market — North P&I and Standard Club — are to go ahead with the merger
mergers and acquisitions
Seaways adopts a poison pill defense
As the Saverys family continues to contest a merger of Euronav into Frontline, billionaire shipping investor John Fredriksen has taken a significant stake in another tanker giant, New York City headquartered International
Keppel O&M signs charters for two “legacy” jack-ups
Keppel Offshore & Marine Ltd (Keppel O&M) has signed agreements for the utilization of two KFELS B Class rigs to be deployed in Saudi Arabia. The bareboat contracts are expected to generate
Keppel O&M and Sembcorp Marine merger agreed
A Singapore mega merger that has been long in the works seems finally set to happen. Keppel Corporation Limited and Sembcorp Marine Ltd entered into definitive agreements yesterday for the proposed combination
Tidewater completes Swire Pacific Offshore acquisition
Tidewater Inc. (NYSE: TDW) has completed its acquisition of Swire Pacific Offshore Holdings Limited (see earlier story). The completion of the $190 million deal adds 50 vessels to the Tidewater fleet and
Merger creates major marine rock contractor
Columbia, Ill., based marine contractor Luhr Bros, Inc., has merged with Crosby Enterprises LLC’s Jefferson, La., based subsidiary Bertucci Contracting LLC to create Luhr Crosby LLC. Luhr Bros is a third-generation family-owned business and Bertucci
Antitrust authorities block merger of container handling giants
The wedding is off. The U.S. Department of Justice reports that container handling equipment giant Cargotec Corporation confirmed today that it has abandoned its intended merger of equals with Konecranes Plc. The
Major P&I merger will create new marine insurer
Marine P&I (protection and indemnity) insurance mutuals have long been facing challenging market conditions that have led observers to predict that further consolidation in the industry was likely. Today, two well-known players—North
Fairbanks Morse Defense continues its acquisition spree
Privately-owned Maxim Watermakers has become the latest company to be acquired by Beloit, Wis.-based Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline). Shreveport, La., based Maxim Watermakers is
Rolls-Royce completes sale of Bergen Engines
Retford, U.K.-based Langley Holdings has completed its acquisition of Norway’s Bergen Engines group from Rolls-Royce for a consideration of EUR 91 million (about $103 million). In addition, EUR 16 million (about $18