The state privatization fund Hellenic Republic Asset Development Fund (HRADF) of Greece has accepted a “significantly improved” offer from China’s Cosco Group for the state’s majority stake in the Piraeus Port Authority (OLP). “HRADF’s…
Royal Dutch Shell's top executive planning the integration of BG Group will become transitional CEO of BG after expected completion of the $48 billion acquisition next month, company sources said. The appointment of Dutchman Huibert Vigeveno…
On 7 December 2015, Neptune Orient Lines (NOL), parent company of G6 Alliance member APL, announced the potential acquisition of NOL by CMA CGM. The transaction is subject to regulatory approvals. Until there is further development, the…
China's state-owned shipper China Ocean Shipping (Group), also known as Cosco Group and owned by China COSCO Holdings, is on track to acquire Greece's largest container port, gaining a key foothold to expand China's economic and military presence in Europe and Africa under the 'One Belt…
China Merchants Holdings (International) Company Limited, has announced that it has signed a share subscription agreement with Dalian Port (PDA) Co., under which Dalian Port will issue 1.1bn new shares to China Merchants for HK$4.3bn ($554m)…
French liner giant CMA CGM has acquired last week a total of 2.26 million shares in Neptune Orient Lines (NOL), six months before it is scheduled to make good its S$3.4 billion takeover bid for the Singapore-listed liner, reports Business Times…
A consortium of Japanese shipyards decided to sell its stake of Ecovix, which controls the Rio Grande Shipyard, reports Reuters. Mitsubishi Heavy Industries, four other shipbuilders said in October 2013 acquired 30% of Ecovix-Engevix Construcoes…
The current chairman of China Shipping Group (CSG) Xu Lirong handed top job at $74.7bn Beijing-backed merged entity of CSG and China Cosco Group. Xu Lirong has been appointed chairman of China Cosco Shipping Group, according to statements posted by the two groups on their websites Monday…
Chinese shipping subsidiaries will realign their businesses in response to the merger between China Ocean Shipping (Group), known as Cosco Group, and China Shipping Group, reports Nikkei. Sinotrans & CSC Holdings Co., the nation's third largest shipping company…
China's cabinet on Tuesday (Dec 29) approved a deal that fuses two of the country's biggest state-owned transport and logistics firms, reports Reuters. China's cabinet has approved China Merchants Group's acquisition of Sinotrans & CSC Holdings Co…
China Shipping Ports Development, the port unit of China Shipping Group, has agreed to acquire a 20% stake in the loss-making Korea Express Busan Container Terminal (KBCT) from parent CJ Korea Express (CJ Korex). KBCT manages the container terminal in the port of Busan Shinsundae…
Peel Ports Group has completed the acquisition of Great Yarmouth Port Company Limited (GYPC) from International Port Holdings for an undisclosed sum. GYPC is well established as the leading UK port servicing the UK sector of the Southern…
KOTUG and Boskalis reach agreement to merge European harbor towage operationsRoyal Boskalis Westminster N.V. and KOTUG International B.V. have reached a formal agreement to merge their European harbor towage operations following on a Memorandum…
French carrier CMA CGM, which has announced its bid to acquire Neptune Orient Lines for S$3.4bn ($2.4bn) in cash, is slowly building a stake in Neptune Orient Lines (NOL) for less than the price per share it has offered in a planned takeover deal…
Kongsberg Maritime has signed a contract to buy the Trondheim-based ship simulation and consultancy company, Ship Modelling & Simulation Centre AS (SMSC). The acquisition is expected to be completed January 2016. “More sophisticated vessel…
