February 12th, 20196CMA CGM’s planned takeover of CEVA Logistics has moved a step closer today after the French line announced a public tender offer which is “fully aligned” with the board of CEVA.
CMA CGM is offering CHF 30 per share, the same as its offer announced last November which the CEVA board recommended shareholders reject. However, CMA...
February 12th, 20190Offshore driller Transocean has secured a series of new contracts, adding around $907m in contract backlog, according to the company's latest fleet status report.
The company's drillship Dhirubhai Deepwater KG2 has been awarded a four-well contract plus four-well option by Chevron offshore Australia via a term swap with the GSF...
February 8th, 20190The European Commission has approved the proposed takeover of CEVA Logistics by French liner CMA CGM.
The commission concluded that the acquisition does not represent a competition issue.
CMA CGM made a $825m bid to take over CEVA at the end of last year, a figure CEVA’s board has since rejected claiming it is undervalued. The...
January 31st, 20190Six crew members, including the captain, kidnapped earlier this month from 2,668 teu off Benin, have been released according to Russian media.
The Panama-flagged vessel was attacked and boarded around 55 nautical miles off Cotonou on January 2, and negotiations to have the seafarers released have been ongoing since.
Splash...
January 29th, 20190Having first turned down a takeover offer from Denmark’s DSV last year, CEVA Logistics has come to the decision not to recommend an offer from French containerline CMA CGM.
CMA CGM moved to acquire CEVA in October last year, and announced a public tender offer the following month of CHF30 per share. While the offer was substantial...
January 24th, 20190Offshore drilling contractor Transocean is raising $550m via a senior secured note offering, with net proceeds to be used to partially finance for drillship .
Transocean took delivery of the drillship from South Korea’s DSME last year and immediately sent it out on a 10-year contract with Shell in the Gulf of Mexico.
The...
January 16th, 20190Swiss logistics firm Panalpina has announced that it has received an unsolicited, non-binding proposal from Danish freight forwarder DSV to acquire the company at a price of CHF170 ($172) per share, comprising a mix of cash and DSV shares. DSV's proposal would value the company at around CHF4bn ($4.05bn).
The move follows on from...
January 14th, 20191Stormy weather continues to hamper efforts to clean up boxes from the in the North Sea.
A total of 281 containers fell off the huge boxship on January 2, sparking both a navigational and an environmental crisis in the busy waters bordering the Netherlands and Germany.
Salvors have had to contend with waves up to 6 m high over the...
January 10th, 20190ZIM has further cosied up to the world’s top two liners, Maersk and MSC, in what its CEO described today as a game-changing agreement for the Israeli containerline.
ZIM was throughout its history a standalone carrier, reluctant to join alliances until last year when it partnered with Maersk and MSC, who make up the 2M vessel sharing...
January 10th, 20190Efforts to clean up the debris following the loss of 281 containers over the side of the giant boxship are being hampered by inclement weather off the Netherlands.
Salvors Ardent Global have been appointed to head the cleanup of the boxes at sea while the Dutch army and many locals have been on hand to pick up the flotsam that has...
