Daniel Cancel’s Post

Kenan Advantage Group (KAG), one of North America's largest tank truck transporters, has just expanded its reach by acquiring Louisiana-based tank hauler Action Resources. This strategic move enhances KAG's footprint in the chemical and specialty products market, further solidifying its position as a leading player in the industry. The acquisition is expected to bring synergies between the two companies, offering improved service capabilities and operational efficiencies to their customers. This deal not only boosts KAG's market presence but also underscores the ongoing consolidation trend in the transportation sector, where companies are seeking to scale operations and enhance their service offerings. It will be interesting to see how this acquisition will shape the competitive landscape in the tank truck transportation space. For more details, you can read the full article at https://lnkd.in/euYX2QVz

PTL's $6M IPO: Fueling the Future of Marine Logistics 🚢 Hey everyone! 🚀 I just read that PTL, a company that helps fuel ships in the Asia Pacific, is planning to raise $6 million with an IPO. They’re offering 1.3 million shares at $4 to $6 each. If they hit the midpoint, PTL’s market value will be around $63 million. Based in Singapore, PTL has been around since 2013. They operate in seven ports across Asia Pacific and the Middle East, making sure ships like container ships and tankers get their fuel. They plan to list on Nasdaq with the symbol PTLE. 📈 Pacific Century Securities is handling the deal. I'm keeping an eye on PTL’s listing - it could be a big deal in the marine fuel logistics world! 💼⚓ #IPO #MarineLogistics #Shipping #Nasdaq #Investing #PTL #Singapore #AsiaPacific #Finance #StockMarket Read more: https://lnkd.in/dTgqcpWM

𝐌𝐎𝐋 𝐭𝐚𝐤𝐞𝐬 𝐨𝐯𝐞𝐫 𝐆𝐞𝐚𝐫𝐛𝐮𝐥𝐤 𝐟𝐫𝐨𝐦 𝐊𝐫𝐢𝐬𝐭𝐢𝐚𝐧 𝐉𝐞𝐛𝐬𝐞𝐧 Mitsui OSK Lines (MOL), Japan’s largest shipowner, is taking over Gearbulk from Kristian Jebsen in a deal that is expected to close by January next year. MOL first invested in Gearbulk, the world’s largest open-hatch operator, in 1991, taking a 40% stake in the company that was founded in 1968, a shareholding it subsequently raised to 49% with Jebsen retaining a 51% majority. Today, MOL announced its takeover plans, with it set to hold a 72% stake in Gearbulk by early next year. Gearbulk has a fleet of 60 vessels plus a number of ships on order in China. No price has been revealed for the takeover. MOL is well-versed in buying into Norwegian maritime assets. Odfjell Oceanwind, Larvik Shipping, and AKOFS Offshore are some of MOL’s Norwegian investments in recent years.  

Our daily briefing (July 1)... Self-serving shipping bosses are still holding up mergers and acquisitions, say Marine Money speakers. Only Star Bulk has proven the exception: https://lnkd.in/ea8rnSEZ Speakers at Marine Money Week openly argue that newbuild tankers and bulkers will likely decarbonise by enhancing fuel efficiency, as opposed to burning greener fuel — and that new order constraints are more about high construction prices and limited yard slots: https://lnkd.in/eBgRtzpD As legacy parties flail in the French election polls, the likely beneficiaries of the voter rebellion are both calling for an end to tonnage tax, leaving little to choose from a shipping point of view: https://lnkd.in/enYzZHN9 The Lloyd’s List Podcast: Stena Bulk chief executive Erik Hånell on dealing with market uncertainty, ranging from anticipating the end of a purple patch in shipping to AI: https://lnkd.in/eDU5wqRZ Container spot freight rates are continuing their relentless upward trajectory as early peak season demand shows no sign of slowing: https://lnkd.in/emwdMwAd The Panama Canal has increased the maximum authorised draught and added another transit slot on its neopanamax locks as it celebrates eight years since its huge expansion: https://lnkd.in/eQXrtEyj China P&I Club chairman Xu Lirong has unveiled aspirations to further international partnerships and spur innovative offerings, such as green vessel policies: https://lnkd.in/eeMbbXut Attica Group has teamed up with Sweden’s Stena RoRo for construction of what will be the largest-ever ropax newbuildings for a Greek company: https://lnkd.in/eBcXeKaG The US has slapped sanctions on 11 vessels and the three shipping companies involved in Iranian oil and petrochemical trades: https://lnkd.in/eU6gUiqi Maersk will soon announce more partnerships with suppliers of alternative fuels in China, its head of decarbonisation in the country has said: https://lnkd.in/ebuVTTvX Container shipping giant Mediterranean Shipping Co has submitted a binding offer for a 15% stake in Italy’s Genoa airport: https://lnkd.in/eumungxU

Anglo American chief admits selling De Beers Group is biggest challenge. Interesting comment by Richard Wade-Walker “If they try to run a sales process, I think there will be limited interest. At this stage, an IPO or listing feels more likely.” Few diamond stocks have really created shareholder value. My previous company African Diamonds plc rewarded early shareholders with a 25x return. I think Ashton and Aber also gave good returns. To undertake an IPO at this stage in the diamond market would probably require under-writing by Anglo American as the usual 'leaky' industry has been very quiet on potential corporate options and possible suitors. Watch this space! #diamonds https://lnkd.in/g-iRBgjz

Roxas Holdings Inc. (RHI), a key player in the sugar and ethanol industry in the Philippines, has announced a temporary suspension of its stock trading from May 20 to May 31 on the Philippine Stock Exchange. This strategic move aims to mitigate speculative trading amidst ongoing discussions regarding a potential major investment by businessman Leandro Leviste. Although negotiations are still in progress, the company took this preventive action following rumors that Leviste, the youthful entrepreneur behind SP New Energy Corp. (SPNEC), is considering acquiring a controlling interest in RHI. This development follows the news that Leviste's Countryside Investments Holdings Corp. has signed a preliminary term sheet with tycoon Manuel Pangilinan, proposing a P5 billion investment for a 71.6 percent stake in RHI, although this agreement is not yet legally binding and remains contingent on several conditions including approvals from corporate boards, shareholders, and regulatory bodies. RHI has emphasized that the term sheet is merely indicative and does not constitute a legal obligation for any parties involved. The company plans to keep the public informed with timely disclosures once any definitive developments occur regarding this potential transaction. Prior to this, Leviste had already secured a significant position in another Roxas-affiliated company, Roxas and Co. Inc., where he holds a 10-percent share, marking him as the largest individual shareholder. This background indicates Leviste's ongoing interest and expanding influence within the Roxas corporate family, highlighting his strategic interests in the energy and agricultural sectors. #Merger #Acquisition #Business #MergersandAcquisitions

Pyxis Tankers had a successful Q4 financially, with increased revenues and net income. The company acquired new vessels and sold existing ones in the shipping sector. CEO Valentios Valentis is positive about the chartering environment for product tankers and dry-bulk carriers in 2024. Despite high asset values, the company plans to maintain a disciplined approach to capital allocation for further acquisitions and improving balance sheet liquidity through debt repayment and share repurchases. #MarinerNews #MaritimeIndustry #ShippingNews #Shipping #Maritime

🤝 𝗪𝗲𝗲𝗸𝗹𝘆 𝗪𝗿𝗮𝗽 𝗼𝗳 𝗠&𝗔 𝗱𝗲𝗮𝗹𝘀 🤝 Albemarle Corporation sold a 4% stake in Liontown Resources Limited after a failed takeover bid. Dennis Bastas acquired Nude by Nature and Makeup Cartel Brands for $60m, expanding VidaCorp. SQM's Australian arm will partner with Novo Resources Corp after the former paid $10b for a 75% stake in five of Novo’s lithium-nickel tenements in WA's West Pilbara. Thomson Reuters acquired a majority stake in Swedish e-invoicing firm Pagero. MSC Trustees acquired Australian Executor Trustees Limited, overseeing $20b. Pilbara Minerals Limited expanded its offtake agreement with China's GanfengLithium, increasing supply of spodumene concentrate to a major customer. Rio Tinto is set to announce the sale of Lake Macleod salt operations to Leichhardt, led by former Dow boss Andrew N. Liveris. GoPro has acquired Sydney-based Forcite. Biome Australia Ltd entered its first retail distribution agreement in the UK and Ireland as part of its broader expansion into Europe. Get a full round-up of the day’s deals in your inbox each morning — sign up at letterofintent.com.au

Simpson Thacher & Bartlett LLP has advised Gerdau in connection with the sale of its 49.85% interest in Gerdau Diaco and 50% interest in Gerdau Metaldom Corp. to Grupo Inicia. Simpson Thacher’s team included partners Todd Crider (pictured left), Borja Marcos Sanchez (pictured centre) and Ismael Duran Giral (pictured right), and associates Marcelo B. Lorenzen and Susan Uquillas Mosquera. Read the full article >> https://lnkd.in/dKettuHs #TheLatinAmericanLawyer #deals #transactions

#News #Update Lomar Sets Sail for New Horizons: Exits Container Shipping Market The global shipping industry is witnessing a strategic shift as Libra Group's subsidiary, Lomar Shipping, announces its complete exit from the container shipping sector. Key Details: Divestiture Completed: Lomar has successfully sold off its entire fleet of over 90 container ships over the past few years. Shifting Focus: The company will now concentrate on its dry bulk and tanker operations, currently comprising around 30 vessels. A Decade-Long Strategy: Lomar CEO Nicholas Georgiou emphasizes that exiting containers was part of a long-term plan, with investments in bulk carriers and tankers strategically laying the foundation for this move. Reasons for the Exit: Market Volatility: The container shipping industry has experienced volatile economic conditions in recent years. Shifting Priorities: Lomar may be seeking more stable and predictable returns from the dry bulk and tanker markets. Capitalizing on Expertise: The company's established experience in these sectors could offer a competitive edge. What This Means: Industry Consolidation: Lomar's exit may contribute to further consolidation within the container shipping industry. Focus on Innovation: Remaining container shipping companies may intensify their focus on innovation and efficiency. Looking Ahead: Lomar's strategic move signifies a shift in the landscape of global shipping. While the container market grapples with consolidation, the company's focus on dry bulk and tankers reflects a calculated approach to navigate a dynamic and evolving industry. #LomarShipping #ContainerShipping #Exit #DryBulk #Tankers #ShippingIndustry #MarketShift #StrategicMove