US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately. The companies say customers will interact with each company as they always have and once the integration is complete…
CMA CGM S.A. (CMA CGM), a global leader in container shipping, announces that it has received today confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03), has…
The shipbuilding group STX France has offloaded its Lorient shipyard to a naval consortium. The shipyard, which has produced civil and naval vessels, will be purchased by Kership, a joint venture between French industrial shipbuilder Piriou and naval manufacturer DCNS…
The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1…
In order to get through the crisis of global shipping, Germany-based container line Hapag-Lloyd will ally with United Arab Shipping Company (UASC). HL is in talks to merge with UASC, representing the latest move in container shipping corporate consolidation…
DP World Yarimca has been officially opened for business by the President of the Republic of Turkey, Recep Tayyip Erdoğan in the presence of senior government officials and executives of DP World.President Erdoğan joined the opening yesterday…
The Royal Australian Navy (RAN) formally commissioned Navy Headquarters – South Queensland as HMAS Moreton today in a ceremony steeped in tradition.The Governor of Queensland, His Excellency the Honourable Paul de Jersey AC, together with Senators Joanna Lindgren and Chris Ketter…
Mitsui O.S.K. Lines, Nippon Yusen Kaisha, “K” Line, Hanjin, Hapag-Lloyd and Yang Ming to create a new partnership “THE Alliance”Tokyo, May 13, 2016 - Mitsui O.S.K. Lines (MOL, President & CEO: Junichiro Ikeda), Nippon Yusen Kaisha, “K” Line…
With immediate effect, Kistler is taking over Schatz AG in Remscheid (Germany) and its U.S. sales and service company, Schatz USA, Inc., Holly (MI). This acquisition gives the Kistler Group new potential applications in quality assurance in industrial manufacturing…
French container shipping giant CMA CGM now owns 10.07% of its takeover target Singapore's Neptune Orient Lines (NOL) as open share buys continue on a near daily basis. The European Commission has approved CMA CGM's $3.38 billion acquisition of NOL…
China’s Cosco Pacific Ltd. will buy 35 percent of Euromax Terminal Rotterdam BV for 125.4 million euros ($143 million) for shares and loans amid an overseas expansion drive by Chinese companies.Euromax is indirectly owned by Hutchison Port Holdings Ltd…
Diversified Port Holdings (“DPH”) announces the acquisition of Liberty Terminals based in Savannah, Georgia with additional operations in Charleston, South Carolina. Liberty Terminals will operate as Seaonus Stevedoring-Savannah LLC. The acquisition aligns Liberty and Seaonus’s vision…
Newbuilding orders of tanker ships have seen a sharp reduction, but the slowing trend needs to be sustained for the longer-term health of the market, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry…
Total and Saft announced today that, following the signature of an agreement between the companies, Total filed a friendly tender offer on all of the issued and outstanding shares in the capital of Saft with the French Financial Markets Authority (Autorité des Marchés(“AMF”))…
he first ever UK domestic dual-fuelled new build vessels will feature fully integrated Wärtsilä propulsion machinery packages. Wärtsilä will also supply extended engineering and site support services. The two ships, both 102 metre long ro-ro passenger ferries…