Brazilian offshore vessel leaders OceanPact and CBO have confirmed plans to combine their operations through the incorporation of CBO’s holding company into OceanPact. The OceanPact-CBO Merger remains subject to regulatory clearance from the Brazilian Antitrust Regulatory Agency (CADE), alongside other customary conditions precedent for transactions of this nature. These include approval at the companies’ general shareholders’ meetings and the necessary consent from creditors. Once finalized, the OceanPact-CBO Merger will result in a unified enterprise operating a fleet of 73 vessels and generating annual revenue of more than USD 778 Mn.
The rationale for the OceanPact-CBO Merger is anchored in four strategic pillars. The first centers on reinforced cash generation, which is expected to expand the capacity for dividend distribution. The second focuses on scaling up operating capability through a broader asset base. The third pillar highlights value creation driven by commercial and operational integration, as well as the realization of synergies. Finally, fleet complementarity is projected to enhance overall capabilities, reduce the average fleet age, improve vessel allocation efficiency and broaden client diversification.
OceanPact organizes its activities across short-, medium- and long-term horizons, seeking to align immediate operational measures with sustainable performance over time. Its approach encompasses greenhouse gas emissions management, energy efficiency initiatives and the advancement of low-carbon solutions, supporting a responsible and resilient transition amid climate change challenges. Meanwhile, CBO Group marked a significant development in 2024 after securing priority status from the Brazilian Merchant Marine Fund to finance a vessel upgrade and engine retrofit project powered by ethanol fuel. The approval could pave the way for the first research and development initiative of its type, underscoring the group’s focus on innovation and emissions reduction within the maritime industry.
Beyond financial and operational metrics, the OceanPact-CBO Merger is positioned as a platform to accelerate sustainable innovation. By integrating technical expertise, data intelligence, operational safety practices and predictive solutions, the merger intends to deepen the companies’ sustainability framework. The combined company aims to link operational performance with risk management, innovation and long-term value creation. This will aid the fleet operator to reinforce a growth strategy that balances competitiveness with social and environmental responsibility while delivering positive outcomes for clients and society.
