Norwegian offshore vessel owner DOF agreed to acquire Danish counterpart Maersk Supply Service from A.P. Moller Holding in a $1.11bn cash and share deal. The combination creates one of the largest Oslo-listed oil services companies, with a combined market cap of around $2.3bn, a workforce of more than 5,400 employees, and 78 vessels, 65 of which are owned. Nippon Yusen Kaisha (NYK) sealed a deal to take over the majority of Eneos Ocean Corporation’s fleet. The Japanese shipping line is buying an 80% stake in a new company that will control nearly 50 ships, excluding Eneos Ocean’s crude tanker business. Saltchuk Resources completed its takeover of the Jones Act tankers and oil tug barges owner and operator, Overseas Shipholding Group (OSG). The privately owned Seattle-based company, which also controls TOTE and Foss, acquired all shares not already owned for $8.50 per share in cash at an enterprise value of about $950m. Shipowners and charterers have been left to wonder what their genuine emissions output is as a rumbling Japanese engine scandal explodes to encompass other popular brands. Following the news this April that more than 4,000 ship engines manufactured by IHI Power Systems had falsified fuel economy data over the past 20 years, another major local name in heavy machinery, Hitachi Zosen, has been forced to apologise to customers around the world after two of its subsidiaries were found to have falsified fuel economy data for a total of 1,364 ship engines, or almost all of the units investigated, that had been shipped out since 1999. Singapore’s Centurion Bulk acquired Denmark-based operator Integrity Bulk for an undisclosed sum. Centurion, established in 2013, charters and operates over 80 handysize to ultramax bulkers, while Integrity, incorporated in Denmark in October 2014, lists 12 ships in the handy market on its website. Danish owner and operator Norden acquired Norwegian dry bulk operator Norlat Shipping. Founded in 1986, privately owned Norlat specialises in the shipment of forest products and other bulk commodities on trade routes from Northern Europe to North Africa and North America. New York-listed, Ireland-based tanker owner and operator Ardmore Shipping announced the retirement of its founder and chief executive, Anthony Gurnee, later this year. Gurnee will be succeeded by the company’s current executive and chief commercial officer, Gernot Ruppelt, in September. In addition, Ardmore’s chief of finance, Bart Kelleher, has been promoted to take on the additional role of president. TagsSplash Extra Archive Splash Extra July 2024