Members of the North and Standard Clubs have voted to approve the merger between the two marine insurance firms, creating one of the largest providers of mutual cover in the maritime industries.The P&I clubs, which revealed plans to merge earlier this year, each held special general meetings on May 27 where members voted to greenlight the move to join forces as a single, larger mutual insurer. Pending regulatory approval…
Finnish engineering groups Konecranes and Cargotec decided on March 29 to cancel their planned merger after the United Kingdom Competition and Markets Authority (CMA) blocked the transaction, citing competition issues.The British watchdog decided to block the potential 4…
North P&I and Standard Club revealed they have entered formal discussions for a proposed merger to create a new global marine insurer and one of the largest providers of mutual cover in the maritime industries. The combined mutual insurer would provide cover for vessels equivalent to 400 million GT…
China formally established a new state-owned logistics group on Monday, state broadcaster CCTV reported on Monday, to strengthen domestic and global supply chains amid widespread disruptions caused by the pandemic.China Logistics Group aimed…
Shipbroking, financial advisory and logistics services provider Braemar Shipping Services said Wednesday it has appointed James Gundy as group CEO, effective January 1.Gundy has been the CEO of Braemar’s Shipbroking Division, the group’s largest operation…
The European Commission has approved the acquisition of OLT Offshore LNG Toscana by SNAM and the UK’s First State Investments International (FSI), under the EU merger regulation.According to the Commission, OLT is active in the management of…
Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and U.S. companies, the head of shipping company Maersk warned in an interview.'Is it really a good idea that we don't allow the creation of a European global champion…
China on Tuesday formally established China Shipbuilding Group, which the country's government-run broadcaster described as the world's largest shipbuilder.The group's establishment, reported by China Central Television (CCTV), comes after Beijing…
The board of directors (the “Board”) of the Company announced that on 30 June 2019, COSCO Ports (Tianjin) Limited (“CP Tianjin”)and China Shipping Terminal Development Co., Ltd. (“CSTD”), both being wholly-owned subsidiaries of the Company,…
The merger between accountants and advisers BDO LLP and Moore Stephens LLP in London was completed earlier this month.Clients of the merged firm, BDO, will have access to offices in over 160 countries with a presence in every major shipping location in the world…
The European Commission has approved the creation of a joint venture by Swedish Stena Rederi, part of Stena AB, and German Glovis Europe, which is controlled by South Korean Hyundai Glovis.Earlier, the companies have filed a merger application…
The merger of BW Tankers with Hafnia Tankers is being operationalized creating one of the world’s largest owners and operators of product tankers.The merged company owns and operates a fleet consisting of approximately 100 product tankers, four newbuildings and three product tanker pools…
Norway-based bulk ship operator and management company Belships has finalized its merger with Lighthouse Group after receiving an approval of the merger plan by the extraordinary general meeting (AGM).'All the conditions for the completion of the merger…
Marshall Islands-based Global Ship Lease (GSL) announced that it has completed the proposed merger deal with Greece's Poseidon Containers.According to a release from GSL, the combined company will have a fleet of 38 vessels with a total capacity of 198…
Norway-based bulk ship operator Belships has signed a merger plan with the Lighthouse Companies.Belships ASA has announced a merger between certain subsidiaries of Kontrari (the Lighthouse Companies) and one or more subsidiaries of Belships with consideration in Belships shares…
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