Intermarine, ZEABORN Form Joint Venture

Intermarine ship Ocean Freedom in JaxportImage Courtesy: Jaxport/Flickr under CC BY-NC 2.0

US-based Maritime Holdings Delaware, a parent company of Intermarine, has entered into a joint venture agreement with German ZEABORN Group.

The joint venture entity, ZEAMARINE, will include the transfer of assets and operating entities from ZEABORN’s commercial activities as well as ZEABORN-owned Rickmers Line and Maritime Holdings-owned Intermarine, the duo said in a statement.

As informed, the joint venture will have more than 75 vessels and is expected to exceed 100 vessels by year-end.

The shareholders of the newly-formed ZEAMARINE will also commit to fund new capital to grow the joint venture where ZEABORN will serve as the majority shareholder.

The agreement includes the consolidation of vessel fleets, staff, and the global network of customers and offices.

“Each respective entity brings unique value to the joint venture. Intermarine has a strong reputation out of the United States into South America and is a leading project cargo player out of Asia; ZEABORN brings a strong presence in Europe and Asia,” Ove Meyer, Managing Partner of ZEABORN, said.

“This combination of resources will build a platform for continued growth and development by combined activities in liner and global contract services across a broadband of customers and cargoes,” Andre Grikitis, President and CEO of Intermarine, commented.

The execution of the transaction is subject to antitrust clearance.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2019 >>
MTWTFSS
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 1 2 3 4 5

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

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 >