TORM to buy seven LR1 vessels for $233m
Danish shipping company TORM has signed two separate cash deals worth around $233m for the acquisition of seven LR1 tanker…
20 Jan 2023
OSM Maritime to merge with Thome to create ship management company
Norway-based ship management services firm OSM Maritime Group and Thome Group have agreed to a merger to create a ship management company, which will be named OSM Thome. With the…
18 Jan 2023
China’s Cosco Shipping to acquire $814m stake in COFCO Fortune
Chinese state-run shipping company Cosco Shipping Holdings has agreed to acquire a 5.8% interest in COFCO Fortune for CNY5.5bn ($814m), reported Reuters. The purchase of this stake in the logistics…
18 Jan 2023
KSOE secures $784m order for three LNG vessels
Korea Shipbuilding and Offshore Engineering (KSOE) has received an order worth $784m (KRW971bn) for the construction of three large liquefied natural gas (LNG) carriers. Placed by an unnamed shipping firm…
17 Jan 2023
Fredriksen spends $70m to increase stake in Euronav
Shipping tycoon John Fredriksen, the backer of oil tanker firm Frontline, has increased his holding in Belgian tanker giant Euronav. Fredriksen’s investment vehicle, Famatown Finance, obtained an additional 5.12 million…
13 Jan 2023
Port of South Louisiana to acquire Avondale Global Gateway for $445m
Port of South Louisiana (Port SL) has reached a deal with terminal operator T Parker Host to purchase the Avondale Global Gateway facility for $445m. The 254-acre logistics facility is…
10 Jan 2023
Oil tanker firm Frontline announces termination of merger with Euronav
New York and Oslo-listed oil tanker firm Frontline has announced the termination of a merger agreement with Brussels-listed rival Euronav. The proposed all-stock merger would have created the largest publicly-listed…