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Planned Exmar and Flex LNG deal failsPlanned Exmar and Flex LNG deal fails

The planned $2.3bn merger of Exmar’s LNG fleet and Flex LNG and John Fredriksen’s Geveran Trading has fallen through.

Marcus Hand, Editor

September 23, 2015

1 Min Read
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The move announced on 1 July would have seen a new joint venture Exmar LNG between companies owned by shipping magnates Nicholas Saverys and Fredriksen.

In a brief statement Exmar said: “The parties have failed to agree on the terms. The previously announced transaction will not be completed.

“Exmar will continue focusing on LNG infrastructure and pursue its strategy of barge based FLNG and FSRU‎ projects,” it added.

The proposed Exmar LNG would have had a fleet of six LNG carriers, four of which are under construction; five FSRUs, one under construction; and two FLNG units currently under construction.

Exmar would have had a 64.6% stake in the company while Geveran would have had a 30.7% shareholding.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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