Latest news from Heavy Lift & Project Forwarding International Magazine

BNSF Logistics acquires Albacor Shipping

December 31 - BNSF Logistics has acquired Albacor Shipping, the Toronto, Canada-based international global project and general cargo provider with locations across North America, Europe and Russia.

Albacor Shipping established operations in Canada and the U.S.A. in 1998 and expanded to Europe in 2003 and most recently acquired eight operating locations throughout Russia.

"Project cargo is a highly fragmented market that is dominated by foreign nationals. This acquisition expands our North American presence while establishing our first foray into new foreign markets necessary to serve North American clients here and around the world. We look forward to building on the success of Albacor Shipping as we further expand our geographic and service footprint," said Ray Greer, BNSF Logistics president.

In a statement, BNSF Logistics said that an industrial renaissance is underway in so many global economies, new and old, and with the acquisition it believes it is now well positioned to better serve and take advantage of the full range of opportunities across the mining, civil engineering, oil & gas, renewable energy and power generation industries.

"The scope, experience and service capabilities of Albacor combined with the resources, brand identity and financial foundation of BNSF Logistics means a strong new player has emerged in the global project cargo arena," added Wolfgang Spillner, Albacor president.

Albacor added that negotiations between the two companies had been ongoing for a year and its acquisition will provide stability to Albacor Shipping for years to come, and allow access to increased financial resources as well as BNSF Logistics' expertise in rail and rail transloading and various other services, presently not offered by Albacor Shipping.

HLPFI understands that there will be no change in regards to contacts within Albacor, with the daily operations of the company continuing as in the past.

BNSF Logistics is a wholly owned subsidiary of Burlington Northern Santa Fe, a Berkshire Hathaway company.

Albacor Shipping is a long-standing member of the Worldwide Project Consortium (WWPC) network for USA, Canada and Russia/Siberia.

www.albacorshipping.com

www.bnsflogistics.com

www.wwpc.eu.com

Heavy Lift | News

TRACE launches e-Gov portal thumbnail image

TRACE launches e-Gov portal

February 15 - Anti-bribery trade association TRACE International has launched its e-Gov Portal.
Views: 212
DSV ups Panalpina bid as Agility enters the fray thumbnail image

DSV ups Panalpina bid as Agility enters the fray

February 15 - Panalpina’s board of directors confirmed that it has received a revised, non-binding proposal from DSV to acquire the company at a price of CHF180 (USD178.9) per share, all in cash.
Views: 365
Bolloré and Cosco strengthen ties thumbnail image

Bolloré and Cosco strengthen ties

February 15 - Bolloré Transport & Logistics and Cosco Shipping Lines have signed a memorandum of understanding (MoU) to strengthen their commercial relationships, while exploring new opportunities for cooperation in transport, logistics and port infrastructure.
Views: 354

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.