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>

<< May 2019 >>
MTWTFSS
29 30 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

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >