• Airways
  • Railway
  • Roadways
  • Shipping & Port
Transport Advancement
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports
    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports
    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

  • Events
  • Contact Us
No Result
View All Result
Transport Advancement
No Result
View All Result
Home Europe

KKR and Borealis Maritime’s JV acquires Commerzbank ships for $254.5m

30th July 2015
in Europe, News, Shipping & Port
0
SHARES
24
VIEWS
Share on FacebookShare on Twitter

KKR and Borealis Maritime joint venture (JV) Embarcadero Maritime III has acquired German based Commerzbank subsidiary Hanseatic Ship Asset Management’s (HSAM) ships for $254.5m.

HSAM was established in May 2013 by Commerzbank, which took over some vessels from debtors and pooled them in this unit. The bank announced its exit from ship financing in 2012.

So far, HSAM has acquired a modern fleet of 13 mid-size container vessels and five mid-size dry bulk vessels.

“The acquisition of HSAM will significantly increase our managed fleet, making us one of Europe’s leading container vessel operators.”

With the acquisition, which will include all of HSAM’s assets, the JV will jointly operate a fleet of more than 50 vessels in the container, chemical, product and LPG sectors.

KKR Special Situations team member Brian Dillard said: “We are pleased to acquire this high-quality fleet from Commerzbank and will continue to explore additional growth opportunities in the shipping sector.

“Partnering with maritime lenders to offer feasible solutions to problematic lending engagements remains a core component of our expansion strategy.”

Borealis Maritime CEO Christoph Toepfer said: “The acquisition of HSAM will significantly increase our managed fleet, making us one of Europe’s leading container vessel operators.

“We believe the quality of vessels being acquired from Commerzbank is second to none and this transaction is an attractive expansion of our activities with our partners KKR.”

The transaction, which is funded through KKR’s managed funds and accounts, including its Special Situations Fund II, is subject to approval of the relevant authorities.

Both the companies have deployed more than $600m into vessel acquisitions to date and continue to look for additional transactions.

Previous Post

Egypt begins test run through new Suez Canal

Next Post

Canadian Government and Port Metro Vancouver to invest in shore power facilities

Related Posts

Etihad Airways enhances interline and codeshare with six airlines making travel even easier
Airways

Etihad Airways enhances interline and codeshare with six airlines making travel even easier

23rd March 2023
Chicago City Council to improve transportation safety and efficiency with new pilot programmes
America

Chicago City Council to improve transportation safety and efficiency with new pilot programmes

23rd March 2023
HPC leads machine learning initiative at Hamburg container terminal
News

UAE’s AD Ports plans $200m investment for Safaga Port in Egypt

23rd March 2023
News

Ouster and LASE collaborate on 3D digital lidar sensor technology

23rd March 2023
Rolls-Royce, Sea Machines partner on autonomous ship control solutions
News

MOL and Amogy partner to deploy ammonia-to-power systems on ships

23rd March 2023
Coach & Bus UK 2019
News

UK government announces new initiative to strengthen and decarbonise bus sector

23rd March 2023
Next Post

Canadian Government and Port Metro Vancouver to invest in shore power facilities

Latest Post

Etihad Airways enhances interline and codeshare with six airlines making travel even easier
Airways

Etihad Airways enhances interline and codeshare with six airlines making travel even easier

23rd March 2023
United Airlines and Archer Announce First Commercial Electric Air Taxi Route in Chicago
Airways

United Airlines and Archer Announce First Commercial Electric Air Taxi Route in Chicago

23rd March 2023
Global Demand For Air Cargo Shrinks Even Further In December
Airways

Inbound Air Shipments To EU To Fall Under New Regulations

10th March 2023
Boeing announces logistics centre for aircraft parts in India
Airways

Boeing announces logistics centre for aircraft parts in India

1st March 2023
Airways

Air India places record $70bn order for 470 Boeing and Airbus jets

1st March 2023
Airport slot suspensions: easing the pressure for ailing airlines amid Covid-19
Airways

Siemens Logistics awarded major service contract at Madrid-Barajas Airport

1st March 2023
Transport Advancement

About Us

Transport Advancement is a leading information centric website for latest updates within the industry. We cover Railway, Road Traffic, Airways, Shipping & Port and run with an objective to provide knowledge driven content to our readers and subscribers in various forms like news, projects, upcoming events.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack
  • Newsletter Subscription

System

  • Search
  • Site map
  • RSS Feed
  • Airways
  • Railway
  • Roadways
  • Shipping & Port

© 2022 Copyright Value Media Services 2022 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Articles
  • Press Statements
  • Market Reports
  • Events
  • Contact Us

© 2022 Copyright Value Media Services 2022 All rights reserved.