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.
Hapag-Lloyd says that size is no longer the name of the game in container shipping with consolidation becoming less attractive in the sector as it sets out its strategy to 2023.
The availability of capital, both equity and debt, is a perennial discussion and has two particular areas of focus at present - for consolidation and green loans for retrofits to meet environmental regulations.
In the latest consolidation in the offshore vessels sector Nordic American Offshore (NAO) is looking to merge with Horizon Maritime Services.
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.
Dorian LPG founding shareholder Seacor has backed a takeover offer by BW LPG.
A week ago we wrote that the latest round of consolidation in the container shipping sector appeared largely complete with regulatory approval for Cosco Shipping to buy Orient Overseas International Ltd (OOIL), but yesterday up pops the story that CMA CGM had approached rival Hapag-Lloyd on a stock-for-stock merger.