Deal News

Golden-Agri Stena has partnered with Bay Crest Management to establish a joint venture (JV) to conduct the operation and commercial management of chemical tankers.

The JV, named GSB Tankers, is scheduled to begin operations by January.

GSB Tankers will be based in Golden-Agri Stena’s existing site in Singapore and will have offices in Dubai, United Arab Emirates (UAE), and Japan.

The company will initially manage 18 chemical tankers with a target of managing 30 such tankers over the next two years.

https://www.ship-technology.com/news/golden-agri-stena-bay-crest-management-create-new-chemical-tanker-jv/

UK-based marine insurance provider The Strike Club has revealed plans to join The Standard Club group.

Strike Club primarily provides delay insurance services to ship owners and operators. With the planned merger, the company aims to better serve its members with cost-effective delay insurance at a time of growing capital and regulatory requirements.

Both the groups are currently managed by companies within the Charles Taylor group.

Once the merger is completed, Strike Club will continue to...

https://www.ship-technology.com/news/strike-club-unveils-plan-merge-standard-club/

China-based Yangzijiang Shipbuilding (YZJ) has signed a shareholder agreement with Japan’s Mitsui E&S Shipbuilding (MES-SC) and Mitsui to establish a shipbuilding business.

The joint venture (JV) will be established following the required procedures, including examinations.

It will combine YZJ’s production capacity, Mitsui’s expertise in sales, and MES-SC’s advanced technology to create a shipbuilding business that meets global standards.

Yangzijiang Shipbuilding executive chairman Ren Yuanlin...

https://www.ship-technology.com/news/yangzijiang-form-shipbuilding-jv-mitsui-es/

Navios Maritime Acquisition (Navios Acquisition) has signed a definitive merger agreement with Navios Maritime Midstream Partners (Navios Midstream) to purchase all the publicly held units of Navios Midstream in exchange for its shares.

As part of the deal, public unitholders of Navios Midstream may exchange each Navios Midstream common unit for either 6.292 newly issued shares of Navios Acquisition common stock or 1.0 share of a newly issued convertible participating preferred stock of Navios...

https://www.ship-technology.com/news/navios-acquisition-acquire-navios-midstream/

Arcus European Infrastructure Fund (Arcus) has agreed to divest its share in Forth Ports to Public Sector Pension Investment Board (PSP Investments) for an undisclosed sum.

Following the completion of the deal, PSP Investments, which already has shares in Forth Ports, is expected to work with other long-term investors to support the future growth of Forth Ports.

Forth Ports is a dynamic, UK-based multimodal ports owner and operator, with ports serving as logistical gateways across the UK,...

https://www.ship-technology.com/news/arcus-sell-shares-forth-ports-psp-investments/

NovaAlgoma Short Sea Carriers (NASC) has partnered with Peter Döhle Schiffahrts (PDS) to establish a new platform to focus on consolidation and growth in the multi-purpose project vessel (MPP) and 13,500 to 15,000 mini-grabber dry-bulk markets.

The new platform, DNA Shipping, will see the creation of the world’s largest mini-grabber pool.

Scheduled to begin operation next month, DNA Shipping will feature 26 vessels, including 13 MPP vessels and 13 mini-bulkers.

Of the total vessels, 12 will be...

https://www.ship-technology.com/news/nasc-pds-establish-mini-bulker-mpp-vessel-pool/