Latest news from Heavy Lift & Project Forwarding International Magazine

Beluga-Intermarine: rumours fly following report of takeover

September 17 - Tongues are wagging in the heavy lift shipping sector, following reports in the German national media that Beluga is set to make a spectacular, million-dollar bid for US rival, Intermarine.

The Bremen newspaper Weser Kurier reports that Beluga Shipping is planning the takeover and says that negotiations are well advanced and could be completed by the end of the year.

The German shipping line stated that currently there is no official statement or comment.

In July, Beluga Shipping took onboard a strong partner, the American investment company Oaktree Capital Management LP (OCM) and said that it will invest and provide financing for the project and heavy lift shipping company's strategic growth.

Though it has a significantly smaller fleet than Beluga , Intermarine would be an interesting fit for the German shipping line.

In late August, Intermarine took delivery of Industrial Freedom, the first of its next generation of multipurpose heavy lift ships. Speaking at the time, Andre Grikitis, president of Intermarine, said: "Although the shipping industry worldwide is in a bit of a recession, we see continued growth in the project sector, which will demand modern tonnage to meet transport requirements and schedules."

As we get more news we will bring it to you.

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