In a $1.65bn deal Capital Product Partners LP and Diamond S Shipping are merging in a major consolidation in the product tanker space. The latest deal creates a platform for existing shareholders of Diamond S, which also include First Reserve a backer of shipping company IPOs in the 2005- 2007 boom period, to create liquidity.

Global Ship Lease (GSL) and Poseidon Containers Holdings have announced a strategic merger that will double their fleet size to 38 containerships focusing on the mid-sized and small vessel segments.

Firmer oil prices and improving sentiment have been catalysts for several key strategic moves in recent days, as offshore contractors align themselves to make the most of the imminent upturn.

In the latest consolidation in the offshore vessels sector Nordic American Offshore (NAO) is looking to merge with Horizon Maritime Services.

Almost three weeks after the Tidewater (TDW) and Gulfmark Offshore (GLF) combination deal, contemplating issuance of new Tidewater shares to pay GulfMark shareholders, an unsolicited third-party emerged, in the form of US Gulf powerhouse Harvey Gulf International Marine (HGIM).

In another consolidation in the offshore sector US offshore support vessel (OSV) players Tidewater and GulfMark are to merge in a $1.25bn all-stock transaction.

Hapag-Lloyd's second largest shareholder Klaus-Michael Kühne has publicly rejected the idea of merger with CMA CGM saying if anything it would rather takeover the French line.

Cosco Shipping Holdings has received all the approvals required for its takeover of Orient Overseas International one day ahead the 30 June deadline for the $6.27bn.

New kid on the block in the container trades Japanese joint venture Ocean Network Express (ONE) will face challenges of taking on a new brand identity says iContainers.

Japanese container line merger Ocean Network Express (ONE) officially started operations on 1 April.

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