• 2019 May 21 14:27

    DSD sells its ferry and expressboat company Norled

    The family-owned company Det Stavangerske Dampskibsselskab (DSD) says it has entered into an agreement to sell its ferry and expressboat company Norled to a consortium owned jointly by the Nordic infrastructure fund CapMan Infra and the Canadian company CBRE Caledon Capital Management.

    - In recent years, Norled has made significant improvements in many areas. The company has succeeded in combining good and stable operations with success in tender biddings and record-high financial results. At the same time, Norled has undoubtedly consolidated and strengthened its pioneer role in the green shift in maritime industry: First, Norled launched the ferry MF Ampere, “the mother” of all battery ferries, and in 2021 Norled will launch a new icon through the upcoming hydrogen ferry. This environmental technology opens up new, unparalleled opportunities beyond the maritime sector. I am very proud of all the milestones that Norled's employees have created, says Ingvald Løyning, chairman of Norled.

    - The company now stands at a crossroads. Much of the reason behind Norled's wonderful story is that we have had a good and opportunity-oriented owner. Norled currently has an order backlog of NOK 17 Billion, and has decided to build new vessels for NOK 2.4 Billion. Growing and succeeding with so much new technology and investment is at the same time demanding for a family-owned business. Now the company needs to be given the necessary financial resources that is needed for Norled to grow and develop further to the next phase and towards new goals, says chairman of Norled, Ingvald Løyning.

    - I am pleased that CapMan Infra and CBRE Caledon, solid and professional owners, will be responsible for the further development of Norled in line with the company's business plan and investment plans. This transaction comes at a time when the Norwegian ferry and express boat industries are undertaking major investments in new, environmentally friendly technologies. Norled’s dedicated employees have for many years proven their capacity to remain at the forefront of the green shift within the sector, and I’m sure that with the new owners, Norled will continue its positive development and will prosper in the years to come, says Yuhong Hermansen, majority owner and chairwoman of Det Stavangerske Dampskibsselskab.

    - The Norwegian ferry industry is a critical part of the country’s transportation infrastructure. We believe that the green shift in the industry further highlights sea transportation as a sustainable solution, supporting both the connectivity within and between regions for daily commuters and leisure travellers, while creating jobs and economic growth. CBRE Caledon has proven to be a great partner to CapMan in this investment given their experience in the ferry sector, competent team and deep understanding in infrastructure investing. We are impressed with Norled’s management and employees and are looking forward to continuing the successful journey together to further improve operations for the benefit of the company’s customers, employees and communities,” says Ville Poukka, Managing Partner at CapMan Infra.

    - Norled represents an attractive investment opportunity given the availability-based, index-linked nature of cash flows, the company’s market-leading position, and the increasingly green credentials of the Norwegian ferry industry,” says Dr Andreas Köttering, Partner at CBRE Caledon. “Furthermore, we have been very pleased with the collaboration with CapMan. Their local insight and Nordic experience combined with our experience in the ferries sector well positions our consortium to continue developing Norled.

    Through the sale, 100 per cent of DSD’s ownership interest in Norled AS will be transferred to the consortium of Capman Infor and CBRE Caledon. The parties have agreed that transactional details are confidential. EY has been financial advisor to Norled in the transaction together with the law firm Schjødt.

    About CBRE Caledon

    CBRE Caledon Capital Management Inc. is a leading infrastructure and private equity manager and solutions provider. The company creates long-term value for its fund and separate account clients by accessing, acquiring and managing high-quality investment opportunities and building comprehensive infrastructure and private equity portfolios. The dedicated team of 45 professionals represents over US$9.0 billion on behalf of institutional investors globally as of March 31, 2019.

    About CapMan

    CapMan is a leading investment and asset management company that applies active value creation in its portfolio companies as well as real estate and infrastructure investments. We are a pioneer in private assets in the Nordic region and, by developing hundreds of companies and properties, have created added value for over 30 years. Our investment strategies include private equity, real estate and infrastructure. We also have a growing service unit that includes procurement, fund raising and analysis, reporting and asset management. CapMan employs 140 experts in value-added private assets and manages over € 3 billion in total. In addition to Helsinki and Stockholm, we have offices in Copenhagen, London, Luxembourg and Moscow.




2019 June 16

17:13 DC area agencies to conduct mass rescue exercise off National Harbor
16:05 Boskalis appointed as salvor for both damaged tankers in the Gulf of Oman
15:53 Fincantieri and Naval Group sign a joint venture agreement
13:47 Diana Shipping Inc. announces the sale of a Panamax dry bulk vessel, the MV Thetis
12:47 WSC unveils its hybrid patrol vessel at Seawork 2019
11:41 GasLog Partners LP announces new multi-year charter agreement with Gunvor

2019 June 15

15:44 Wight Shipyard rolls out its new windfarm support vessel concept at Seawork Int'l 2019
13:17 Malta Freeport hosts its first LNG-powered container ship
12:53 Petrobras closes the sale of TAG
11:41 USCG, local partners respond to sailing vessel aground off Magic Island
08:43 Vessel training simulation underway at Tema Port’s new Terminal 3

2019 June 14

18:05 Ole Martin Grimsrud appointed CFO of Aker Solutions
17:44 USCG Cordova FOL crew saves man stranded for three days on Montague Island
17:05 Knud E. Hansen wins two separate contracts for innovative large RoRo vessels
16:41 Hapag-Lloyd to increase rates from North East Asia to Australia
16:26 Murmansk Sea Fishing Port handled 90,300 tonnes of cargo in Jan-May’2019, down 38.7% Y-o-Y
16:05 CMA CGM announces GRR from Asia to South Africa
15:14 “K” Line receives recognition for vessel speed reduction programs in the West Coast of North America
15:00 UK maritime industry leaders debate decarbonization, digital technologies and the future of safety at the annual ABS UK National Committee meeting
14:00 China Railway Container Transport signs strategic cooperation agreement with SITC International Holdings
13:38 Container throughput of Vladivostok Sea Fishing Port in 5M’2019 up 39% YoY to 89,649 TEUs
13:09 Algoma increases its interest in in the CSL International Pool
12:41 Port of Klaipeda (Lithuania) handled 19.77 million tonnes of cargo in 5M’2019, up 8.5% Y-o-Y
12:09 Global Ship Lease announces new charter agreements
11:32 Bunker prices continue going down at the port of Saint-Petersburg, Russia (graph)
11:09 ECSA issues statement on suspected attack on two oil tankers in the Gulf of Oman
10:51 France signs up to fishing vessel training treaty
10:30 Zhatai Shipyard to let build up to 10 river ships and scrap at least two ships per year
10:07 Jan De Nul plans to reduce CO₂ emissions by 15% a year
09:49 Brent Crude futures price is up 0.64% to $61.69, Light Sweet Crude – up 0.36% to $52.47
09:30 MacGregor automated mooring solution specified for the world's first autonomous and zero-emission container ship, Yara Birkeland
09:16 Baltic Dry Index is up to 1,062 points
09:07 GTT receives an order from HHI to design the tanks of two new LNG carriers
08:53 MABUX: Bunker market this morning, June 14
08:00 Long Beach cargo volumes down 16.6% to 573,623 TEUs in May 2019
07:01 Port of Los Angeles volumes up 7.8 percent to 828,662 TEUs in May 2019
06:58 MPA publishes second edition of guides on IMO 2020

2019 June 13

18:26 Maritime Technology Framework strengthens ties between DSME and DNV GL
18:05 J-ENG presents the latest technologies about MGO mono-fuel engine (UEC-LSJ), together with UEC42LSH and LP-EGR at 29th CIMAC World Congress
17:49 Port of Gdansk delegation takes part in IAPH conference, Guangzhou
17:28 Throughput of port Kaliningrad in Jan-May’2019 fell by 18% Y-o-Y to 4.98 million tonnes
17:04 Throughput of port Vyborg in Jan-May’2019 fell by 39% Y-o-Y to 373,000 tonnes
16:45 MarineTraffic partners with exactEarth to deliver most comprehensive vessel tracking yet
16:23 Throughput of port Primorsk in Jan-May’2019 grew by 8% Y-o-Y to 24.43 million tonnes
16:04 MarineTraffic partners with satellite AIS data provider exactEarth
15:39 Freight turnover of Neva-Metal (Saint-Petersburg) in 5M’19 fell by 10% Y-o-Y to 1.18 million tonnes
14:42 Viking Line announces additional departures on Helsinki-Tallinn routes during summer season
14:21 Throughput of port Vysotsk in Jan-May'2019 climbed by 8% Y-o-Y to 8.06 million tonnes
14:03 Hunter Group chooses OSM for technical management of newbuild VLCC fleet
13:49 Palau is approved by IMO as STCW White List member state
13:48 Jotun signs agreement with Hyundai Heavy Industries for a new type of marine paint
13:32 Bunker prices continue going down at the Far East ports of Russia (graph)
13:14 J-ENG rolls out its latest engine technologies at 29th CIMAC World Congress
12:39 Port of Ust-Luga handled 45.24 million tonnes in 5M’19, up 9% Y-o-Y
12:04 Jumbo awarded transportation & installation contract for Yunlin WTG foundations offshore Taiwan
11:03 Damen Marine Components acquires WK Hydraulics
10:50 Throughput of Port St. Petersburg in Jan-May'2019 climbed by 1% Y-o-Y to 25.01 million tonnes
10:36 Oshima Shipbuilding and DNV GL sign strategic cooperation
10:26 Damen Anchor & Chain Factory inks agreement with Fendercare at Seawork
10:11 Throughput of port Helsinki (Finland) in Jan-May’19 fell by 6.5% to 6 million tonnes (table)