In combination with associated ship purchases, the total value of the deal is estimated to be USD 206 million. Upon completion of the transactions, Team Tankers will grow its fleet from 37 to 52 vessels.
The deal stipulates the purchase of the MR Tosca, which was completed on February 2018, the purchase of Laurin Shipping, commercial and technical operator of MRs, the purchase of Anglo-Atlantic, a ship-owning company with six owned, three bareboat chartered and six time-chartered MRs currently and an expected purchase of three MRs currently bareboat chartered by Anglo-Atlantic set to take place in May 2018.
“We have communicated to the market the need for consolidation in the chemical tanker industry. As a first step towards further consolidation, we are pleased to announce this combination with Laurin Shipping and Anglo-Atlantic.
“Team Tankers will benefit greatly from Laurin Shipping’s deep relationships, years of experience and Anglo-Atlantic’s contracted cargo coverage. We believe that the current level of asset prices in the shipping cycle provides a favorable point of entry for this investment,” Team Tankers’ Chief Executive Officer, Hans Feringa, said.
“The combination of the three companies will create a focused and integrated entity with ample muscle to make the most of future market opportunities,” Laurin Maritime’s CEO Mikael Laurinsaid.
In addition to increasing Team Tankers’ owned vessel fleet by 10 MRs, the company expects the transactions to deliver significant operational synergies.
The combination of platforms is expected to result in overhead savings by providing Team Tankers with Laurin Shipping’s in-house technical management expertise which should lead to enhanced operational control of the company’s fleet.
On the commercial operating front, Laurin Shipping’s dense Atlantic basin cargo network fits well with the Team Tankers’ strength in trans-Pacific chemical transportation, the company added.
Team Tankers plans to finance the acquisition with the cash on hand and a new USD 220 million senior secured credit facility that will refinance the existing indebtedness of both Team Tankers and Anglo-Atlantic.
The transactions are subject to the completion of the financing in question and the election of Mikael Laurin to the Team Tankers Board of Directors. The deal is expected to close by April 6, 2018.
OUCO Electrical Marine Cranes
Electrical marine cranes mainly used on the bulk carrier or barge vessels. This type of crane either can be used on deck of vessels, or at ports. All because its feathers of safety, stability, and reliability. Large lifting capacity, easy maintenance, high efficiency and low cost make this type of cranes very popular.
Features and advanages:
Convinence in use of port handlings;
Cost saving by light self weight;
Reasonalbe design for several applications.
External hydraulic power packs
Design according to rules and regulations API 2C.
Class Societies like ABS, CCS, DNV, LR, RMRS, etc.
Diesel hydraulic drive
Full electrical system