SMT Shipping, CSL Set Up Cement Shipping JV

Furuvik cement carrierImage Courtesy: CSL Group Inc.

Montreal-based owner of self-unloading ships CSL Group has entered into an agreement with Cyprus-based counterpart SMT Shipping to acquire 50 pct of Eureka Shipping Ltd., SMT’s pneumatic cement vessel business.

“The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world,” a joint press statement reads.

As informed, CSL’s Australian cement shipping business is not included in the joint venture.

Louis Martel, President and CEO of the CSL Group, said the move aims to unlock synergies from the common values and complementary skills of the two companies.

The duo said that they don’t expect any changes in the day-to-day management and operation of vessels in the Eureka fleet.

The transaction is subject to certain regulatory conditions and is expected to close by end of June.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >