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September 21, 2018updated 09 Mar 2022 1:06pm

Deals and M&As this week: TMC, Wartsila, Gulftainer

TMC Compressors of the Seas has an order to deliver Smart Air compressors to Hyundai Mipo Dockyard.

TMC Compressors of the Seas (TMC) has an order to deliver Smart Air compressors to Hyundai Mipo Dockyard.

The compressors will be fitted on two 21,000cbm ethylene carrier vessels being developed by Hyundai Mipo Dockyard in South Korea.

Vessels will be operated by petrochemical shipping company Solvang and Norwegian LPG.

Designed to be run on heavy fuel oil (HFO), the vessels are expected to consume 30% less fuel.

Wärtsilä will supply an integrated cargo handling and fuel gas system for two very large gas carriers (VLGCs) to be delivered to Exmar, a ship management service provider based in Belgium.

Intended for transportation of liquefied petroleum gas (LPG), the vessels are being constructed at Hanjin Heavy Industries & Construction Philippines’ (HHIC-Philippines) ship manufacturing facility in Subic Bay.

The 80,000m³ vessels have been designed for more sustainable and efficient operations.

“The vessels are expected to consume 30% less fuel.”

A 50-year concession to operate the Port of Wilmington in the US has been awarded to Gulftainer, a port operator based in UAE.

The operator has also signed the concession agreement with the state of Delaware.

Gulftainer will further undertake expansion and upgrade works of the terminal by investing approximately $600m.

It also intends to upgrade all the cargo terminals at the deepwater port to enhance productivity.

ATCO has agreed to acquire a 40% stake in Neltume Ports, a subsidiary of Ultramar.

The C$450m ($340m) acquisition is planned to be funded through available cash reserves and committed credit facilities.

The transaction is intended to bolster the existing infrastructure portfolio of ATCO.

Based in Canada, ATCO is an infrastructure holding company, whereas Neltume Ports is a port operator based in Chile.

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