Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Another offshore merger on the cards - NAO and Horizon Maritime Services

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

New York-listed NAO has signed a Memorandum of Understanding (MoU) with Canadian firm Horizon Maritime Services with a view to a combination of the two companies. NAO said Canadian businessman John Risley and his companies supported the proposed transaction which would see NAO shareholders owning 48% of the combined company and Horizon shareholders 52%.

Herbjorn Hansson, chairman of NAO would be chairman and ceo of the combined company while Horizon would maintain its current organisation and brand in Canada under the leadership of ceo Sean Leet.

Tidewater and GulfMark in $1.25bn merger to create largest OSV operator

"The two companies are geographically complementary with focus on each side of the North Atlantic basin" commented Risley and Hansson.

NAO said that as part of the transaction a major expansion was planned. NAO has a fleet of 10 offshore vessels while Horizon has seven.

NAO is an offshoot of US-listed tanker owner Nordic American Tankers (NAT).

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Find suppliers online

Connecting shipping executives directly to trusted suppliers 24/7, giving year-round access to an extensive database of maritime professionals from Informa Market’s world-leading maritime events and media which include: Marintec China; Seatrade Maritime Middle East; Sea Asia; Sea Japan and Inmex India, amongst others.