Shipping giants are heading for port, but not in the traditional sense. Companies like Denmark’s A.P. Moller-Maersk and Germany’s Hapag-Lloyd are riding a record valuation wave thanks to a year of sky-high container rates. Gobbling up land-based…
Container shipping giant Maersk on Wednesday agreed to buy Hong Kong-based LF Logistics for $3.6 billion in an all-cash deal, as it seeks to expand beyond its core ocean freight business.The deal is one of the group's largest takeovers to date…
Norwegian equipment and service supplier Scana ASA said it is merging with Bergen-based PSW Group, a player in electrification and shore power as well as a major supplier of products and services to the offshore and maritime industries. Together…
Danelec Marine A/S signed an agreement to acquire KYMA A.S., the Norway-based specialist in digital ship performance monitoring. The combined company will be a sizeable data collection solutions provider to the maritime industry with more than 10…
France's CMA CGM said it had agreed to buy most of Ingram Micro's Commerce & Lifecycle Services (CLS) activities in a deal valued at $3 billion, adding this was aimed at accelerating the shipping group's push into end-to-end logistics.CMA CGM…
China formally established a new state-owned logistics group on Monday, state broadcaster CCTV reported on Monday, to strengthen domestic and global supply chains amid widespread disruptions caused by the pandemic.China Logistics Group aimed…
Marine robotics company Ocean Infinity announced it has acquired Red Rock, a technology company with solutions that will enable autonomous port operations, an enabler for future uncrewed shipping.Red Rock is developing digital and autonomous…
Greece's privatizations agency transferred shares corresponding to a 16% stake in Piraeus Port Authority to Chinese port operator COSCO Shipping after an amendment to a previous concession agreement, it said on Thursday.Last month Greek lawmakers…
Canada Pension Plan Investment Board (CPPIB) said on Wednesday it had agreed to buy Ports America, one of the largest marine terminal operators in the United States, from investment firm Oaktree Capital Management LP.While no valuation was given in the announcement statement…
RINA acquired the entire share capital of Logimatic Solutions, a Danish software company with a turnover of about 6 million Euros that will be fully integrated within the RINA Group. Its nearly 50 employees will continue in the current structure from its offices in Denmark…
MPC Container Ships ASA announce on Tuesday that it has completed its acquisition of Songa Container AS.MPC announced in June that it had entered the share purchase agreement to acquire 100% of Songa shares for $210.25 million on a debt and cash free basis…
Ballast water equipment maker Erma First expands its portfolio and brings 'the world’s smallest' ballast water treatment system to the international market through its acquisition of US firm oneTANK LLC.oneTANK, a subsidiary of Glosten, developed a small scale innovative…
Oman's state-owned Asyad is considering buying ports and terminals abroad and could divest assets outside its core logistics business, such as a college and project management operation, its chief executive said on Thursday.The plans by the company…
Fort Worth, Texas based Pilot Thomas Logistics’ (PTL) said it will unify its family of marine companies including Economy Boat Store, General Petroleum, Radcliff/Economy Marine Services, Rainier Petroleum and Maxum Petroleum under one brand…
British professional services provider Lloyd’s Register (LR) has agreed to sell its business assurance and cyber security division to Goldman Sachs Asset Management as the company focuses on maritime activities, executives said on Tuesday.The…