Deals and M&As this week: S2 Global, China Navigation Company

25 January 2019 (Last Updated January 25th, 2019 12:23)

S2 Global has received a contract to provide a complete turnkey screening solution for the Port of Santo Tomas de Castilla in Guatemala.

S2 Global has received a contract to provide a complete turnkey screening solution for the Port of Santo Tomas de Castilla in Guatemala.

The ten-year contract involves the execution of civil works along with the supply and installation of the Rapiscan Eagle P60 high-energy X-ray inspection systems.

S2 Global will employ the CertScan integration platform to handle security screening and remote image analysis for all the inbound, outbound, and transhipped cargo. It also provides full life cycle support.

China Navigation Company (CNCo) has agreed to buy Hamburg Süd’s bulk shipping business for an undisclosed sum.

The deal will involve Furness Withy Chartering and Aliança Navegação e Logística’s (Aliabulk) bulk activities. It will not cover the RAO Tankers business unit, which will continue to operate under the Hamburg Süd Group.

Hamburg Süd’s bulk shipping line includes Handysize, Supra / Ultramax, and Kamsarmax / Panamax types of vessels used for transporting dry goods such as agricultural raw materials, ore, and steel.

Hamburg Süd’s bulk shipping business operates a chartered fleet of approximately 45 vessels across Germany, the UK, Australia, and Brazil.

The deal helps Hamburg Süd to focus on its liner business with the two container shipping brands, Hamburg Süd and Aliança.

The transaction is scheduled for completion by the first quarter of this year.

CNCo, a wholly owned deep-sea ship owning and operating division of Swire Group, currently owns and operates a fleet of more than 135 vessels.

“BW Tankers will continue to exist after the second merger and will take over all of Hafnia’s assets and liabilities.”

MV Werften intends to acquire Neptun Ship Design through its subsidiary for an undisclosed amount.

Neptun Ship Design will operate as an independent subsidiary of MV Werften and provide design services for the shipbuilding company.

MV Werften currently operates yards in Wismar, Rostock, and Stralsund of Germany as well as other parts of Europe.

MV Werften will employ 120 new personnel as part of the acquisition, who will work on MV Werften’s prior project for the development of Global Class and the ‘Crystal Endeavor’ expedition ship.

The deal will expand the design capabilities of MV Werften.

W Tankers has completed its merger with Hafnia Tankers, leading to the formation of a new entity NewSub, one of the world’s biggest product tanker companies.

Hafnia’s shareholders will receive remuneration for their stakes in the form of common shares of BW Tankers, to be renamed as Hafnia. Hafnia’s assets and liabilities, contracts, rights, and obligations in their entirety have been allocated to NewSub.

Hafnia is also no longer available in the Oslo Børs over-the-counter (N-OTC) list.

BW Tankers will continue to exist after the second merger and will take over all of Hafnia’s assets and liabilities.

The newly formed entity will control and operate a range of 102 product tankers, four new buildings, and three product tanker pools.

Hafnia Management and Straits Tankers will oversee the vessel line comprising LR2, LR1, MR, and SR tankers.

The merged entity will have offices in Singapore, Copenhagen in Denmark, Houston in the US, and Mumbai in India.