Hapag-Lloyd announced it has closed its acquisition of the container liner business of German carrier Deutsche Afrika-Linien (DAL), as the German liner shipping company aims to continue its growth in the South African market.Hapag-Lloyd, which signed the framework agreement in March 2022…
Wilhelmsen acquired an additional 24% of shares in NorSea to secure 99% ownership of the Norwegian supply base company.NorSea, a provider of logistics services to the offshore industry for more than 60 years, first welcomed Wilhelmsen as one of the owners in 2012…
Anglo-Eastern Univan Group and the shareholders of Cruise Management International and CMI Leisure Management have signed a letter of intent regarding the sale of CMI to Anglo-Eastern. The move effectively opens up a new sector—expedition cruising—for Anglo Eastern's ship management operations…
Members of the North and Standard Clubs have voted to approve the merger between the two marine insurance firms, creating one of the largest providers of mutual cover in the maritime industries.The P&I clubs, which revealed plans to merge earlier this year…
CGG announced today that Sercel, its Sensing & Monitoring division, has acquired Geocomp Corporation, specialized in high-value services and products for geotechnical risk management and infrastructure monitoring. This acquisition gives Sercel…
Maersk has found possible buyers for its stake in Global Ports Investments, which operates ports in Russia as it withdraws from the country following a final cargo shipment this week, the Danish shipping group said on Wednesday.Maersk put its 30…
Adani Ports, the largest private ports and logistics company in India, said it has reached a deal to acquire a 100% stake in India’s largest third-party marine services provider Ocean Sparkle Ltd. (OSL).OSL, which provides towage, pilotage, and dredging services…
Finnish engineering groups Konecranes and Cargotec decided on March 29 to cancel their planned merger after the United Kingdom Competition and Markets Authority (CMA) blocked the transaction, citing competition issues.The British watchdog decided to block the potential 4…
Shipping group CMA CGM is set to buy auto transport company Gefco, French paper Les Echos reported on Friday, citing sources close to the matter.CMA CGM declined to comment.Gefco, in which French-Italian carmaker Stellantis holds a 25% stake…
North P&I and Standard Club revealed they have entered formal discussions for a proposed merger to create a new global marine insurer and one of the largest providers of mutual cover in the maritime industries. The combined mutual insurer would provide cover for vessels equivalent to 400 million GT…
Cargotec and Konecranes on Thursday won EU antitrust clearance for their 4.5-billion-euro ($5 billion) deal to create a global leader in industrial machinery after agreeing to divest some businesses.The companies, which provide road and sea-cargo handling machinery and services to industries…
Sixty-five years after Aristotle Onassis founded Greece's Olympic Airways, another shipping entrepreneur is planning to take to the skies - this time in Italy, where Gianluigi Aponte's MSC has its sights on the successor company to Alitalia…
French shipping giant CMA CGM said it had struck a preliminary agreement to acquire a majority stake in French delivery firm Colis Prive, as it continues to build up its logistics business.CMA CGM is to buy 51% of Colis Prive from current owner…
Navtor has inked a deal to acquire Ingenium Marine, a transaction subject to execution of definitive agreements. Once completed, Ingenium will become a fully integrated Navtor company and continue to operate from Mumbai, India, and Navtor will…
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…
