Connect with us

Mergers and Acquisition

The Prax Group acquires oil terminal in the Port of Zeebrugge 

Published

on

The Prax Group acquires oil terminal in the port of Zeebrugge. Image: Port of Zeebrugge
Listen to the story (FreightComms AudioPost)

Harvest Energy Marine, a member of the Prax Group of companies,  has acquired the Total Zeebrugge Depot in Belgium.

The Prax Group has worked closely with Total Belgium over the course of the last few months to ensure the smooth acquisition of the terminal. The facility will be re-branded as Prax Terminals Belgium, with Harvest Energy Marine managing all bunkering and commercial operations performed at the terminal.

With a 20,000 cubic metre capacity, the Prax Group will use the terminal for the storage of marine bunker fuels. Its strategic location in the outer port of Zeebrugge means the company can cater to many customers throughout North West Europe, including car carriers, cruise ships, container lines and RORO vessels, offering ship owners and operators a minimum turnaround time in one of the world’s busiest ports. The terminal is ideally situated to enable the Prax Group to focus on its strategic plans to expand its presence in northwestern European coastal waters.

Sanjeev Kumar, CEO of the Prax Group, said: “I am delighted to announce the acquisition of the terminal in the port of Zeebrugge, which reflects our strategic objective to move into a new stage of accelerated investment, growth and development. This acquisition demonstrates our proactive approach to the ever-changing needs of our customers in the marine fuels environment and our commitment to build a robust and reliable supply chain to meet those needs. It is the natural evolution in our progression towards making Harvest Energy Marine a leading player in the global marine market.”

Geert Boden, General Manager of Harvest Energy Marine, said: “As we continue to serve customers from right across the north west of the continent, it is imperative for us to maintain the strong brand reputation and high standards of safety, supply and service for which we are known. The acquisition of the terminal in Zeebrugge means that Harvest Energy Marine is readily able to adapt to the changes in the current bunkering market. We are in a great place to respond to the requirements of our customers, both new and existing, in order to continue to deliver innovative solutions to reduce refuelling times, whilst providing customers with their most important resource.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Break Bulk

SAL acquires Intermarine to expand its business in America

Published

on

SAL acquires Intermarine to expand its business in America. Image: SAL Heavy Lift GmbH
Listen to the story (FreightComms AudioPost)

SAL Heavy Lift and Intermarine, two of the most recognized names in the heavy lift shipping arena, are coming together to create a yet unrivalled shipping setup within the Americas and for cross-Atlantic trade. Operating as an independent brand within the SAL Heavy Lift Group, Intermarine will tie its Americas liner service to SAL’s global heavy lift trade and in combination bring to market the most comprehensive maritime breakbulk and heavy lift solution in the Americas.

The Americas are about to see a unique project, breakbulk, and heavy lift shipping setup unfold. Intermarine and SAL Heavy Lift have for decades been synonymous with shipping excellence, yet they have served different market segments and regions. Now this association of heavy lift excellence brings together the expertise, resources and fleets of both companies and establishes a unique commercial proposition that will benefit a broad spectrum of customers, whether local or international, with shipping services to, from, and within the Americas.

For over 30 years, Intermarine has provided high-quality breakbulk liner services between North America and South America and in the Caribbean, in combination with a strong intra-South America trading network. Under the operational helm of Intermarine veterans Mr. Richard Seeg as President and Mr. Chad Call as Vice President and CFO, Intermarine will continue to serve its customers throughout the Americas as part of the SAL Heavy Lift Group. New to the management team is CEO and shareholder Mr. Svend Andersen, who, with his four decades in the breakbulk and multi-purpose sector, is one of the most influential persons in the industry. As part of Intermarine in the early days of his career, Svend is now back onboard and brings valuable strategic insight and commercial experience to the table. Together this management trio will develop the Intermarine business moving forward.

Svend Andersen, Intermarine CEO, states: “The joining of Intermarine with the SAL organization is a perfect matching of two companies which share the same basic set of values and business philosophy yet with a different fleet of vessels, resources and outreach. In combination, it makes an unmatched setup in cross-Atlantic trading and intra-Americas heavy lift shipping. I have invested in this venture, as I see great prospects in bringing the Intermarine brand and business onwards under the helm and support by SAL Heavy Lift as a top brand in the heavy lift shipping industry.”

SAL sees great value in enlarging its footprint in the Americas by offering a wider range of shipping opportunities and scope of services to both existing and new customers. With the acquisition of Intermarine, SAL’s customers can benefit from more vessels being able to operate not only in and out of South America, but also into offsite river deltas, where SAL would otherwise have had limited access. Further, Intermarine customers will get access to the highly advanced heavy lift fleet of SAL, which, as the largest operator of +900 t SWL vessels in the world, can efficiently connect cargo between Americas, Europe, Africa and Asia.

Richard Seeg, Intermarine President, says: “Having SAL as an organization behind the activities of Intermarine brings with it a wide range of commercial opportunities. SAL holds one of the most comprehensive sales networks globally, and they also bring vessels, world-class engineering capabilities and other resources that are extremely valuable to the commercial setup of Intermarine.”

Martin Harren, SAL CEO, adds: “We have for a while been looking at expanding our services in the Americas, and with Intermarine now being part of the SAL Group, we can enable further trade across the Atlantic, combining important trade between Africa, South America, North America and Europe. We could instantly see the great synergy effects between Intermarine and SAL. When we can combine our already strong sales setup in the USA with the know-how from resources like Richard Seeg, Chad Call, and lastly Svend Andersen, who I have known and worked with for many years, I see a very powerful setup unfold.”

The Intermarine fleet consists of multi-purpose heavy lift vessels that are IMO and Lakes fitted and with lifting capacities up to 400 t SWL, which compliments well with SAL’s fleet of both ice class vessels, IMO fitted and Lakes fitted vessels, and vessels with lifting capacities up to 2000t. Together it makes a comprehensive fleet proposition for customers both inside and outside of the Americas.

The new business constellation begins commercial operation effective immediately.

Continue Reading

Maritime

APSEZ completes acquisition Krishnapatnam Port

Published

on

Adani Ports and Special Economic Zone completes acquisition Krishnapatnam Port. Image: APSEZ
Listen to the story (FreightComms AudioPost)

Adani Ports and Special Economic Zone Limited, India’s largest port developer, operator and the logistics arm of the Adani Group today announced the completion of the acquisition of Krishnapatnam Port Company Ltd., (KPCL) for an enterprise value of Rs. 12,000 cr. This will result in APSEZ having a controlling stake of 75% in KPCL from the CVR Group and other investors.

In FY21, the port is expected to generate an EBITDA of approximately Rs. 1,200 cr, resulting in an acquisition EV/ EBITDA multiple of 10x.

KPCL is a multi-cargo facility port situated in the southern part of Andhra Pradesh a state which has the second largest coastline in India.

This acquisition will accelerate APSEZ’s stride towards 500 MMT by 2025 and is another step in implementing APSEZ’s stated strategy of cargo parity between west and east coasts of India.

Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, “I am happy that KPCL the second largest private port in India has now become part of APSEZ portfolio. This transformational acquisition enables us to roll out world class customer service to an increased customer base and provide pan India solution to them.

Our experience of turning around acquisitions like Dhamra and Kattupalli ports will enable us in harnessing the potential of KPCL. We will target to enhance throughput at KPCL to 100 MMT by FY25 and double its EBIDTA by FY23. With a vast waterfront and land availability of over 6,700 acres, KPCL is capable of replicating Mundra and would be future ready to handle 500 MMT.

We will replicate our operations and maintenance philosophy at KPCL, continue to focus on environment, reduce emission levels and have zero tolerance for fatalities and thus improve returns to stakeholders.

Continue Reading

Maritime

Maritime Transport buys Wincanton Container Logistics

Published

on

Maritime Transport buys Wincanton Container Logistics. Image: Wincanton Plc
Listen to the story (FreightComms AudioPost)

Leading transport and logistics operator, Maritime Transport Ltd, has agreed terms to acquire Wincanton plc’s container transport business, Wincanton Container Logistics. The move follows a strategic review of Wincanton’s business and its decision to focus on its core activities.

Formed in 2008, when Wincanton acquired Hanbury Davies and CEL Group in the same year, Wincanton Container Logistics provides container transport and ancillary services to shipping lines, freight forwarders and cargo owners, which complement Maritime’s own extensive service range.

Under the deal, all employees and assets will be transferred to Maritime and Maritime will continue to work with Wincanton as a strategic partner supporting a number of Wincanton’s customers’ international supply chains. The combined business will create a road fleet of 2,000 with 3,000 employees, based throughout the UK.

‘We are delighted to have agreed terms with Wincanton to acquire its container transport business, Wincanton Container Logistics. We welcome the staff and drivers and look forward to building our capability in the container transport sector and relationships with its customers,’ said John Williams, Chairman, Maritime Group.

Continue Reading

Popular

Copyright © 2017-18 | FreightComms | Made with ♥ in Singapore