• 2020 October 23 11:09

    Austal to further expand Australia support business through acquisition of BSE Maritime Solutions

    Austal Limited (Austal) is building on its growing global support business by entering into an agreement to acquire Australian-based BSE Maritime Solutions Group (BSE Maritime Solutions). The acquisition of the business is at an enterprise value of A$27.5 million, the company said in its release.

    BSE Maritime Solutions is a leading ship repair and support business for defence, commercial, tourism, and luxury vessel customers, operating in Cairns and Brisbane. Current customers include Australian Border Force, BAE Systems, Thales and Svitzer. BSE Maritime Solutions employs approximately 60 permanent staff who will be offered employment with Austal.

    The acquisition aligns with Austal’s stated strategy of continuing to build the Company’s key support business. Revenue from Austal’s support segment has grown at an annual rate of 28 per cent over the past four years to reach $360 million in the 2020 financial year, providing reliable ongoing revenue in addition to Austal’s shipbuilding operations.

    Austal expects that the new business will generate an EBITDA of A$5m in FY2021 rising to A$11m by FY2025 as more Austal ships covered by current sustainment contracts are delivered to the Commonwealth of Australia.

    Agreement terms Under the acquisition agreement Austal will acquire all of the shares in BSE Maritime Group Ltd, Brisbane Slipway Holdings Pty Ltd, and Brisbane Slipways and Engineering Pty Ltd.

    The purchase will be funded from Austal’s strong cash reserves, with the Company holding a $272.4 million net cash position as at 30 June 2020.

    The Agreement is subject to a number of customary conditions precedent to completion and is expected to settle at the end of November 2020. This ASX announcement has been approved and authorised for release by David Singleton, the Chief Executive Officer of Austal Limited.

    This ASX announcement has been approved and authorised for release by David Singleton, the Chief Executive Officer of Austal Limited.




2021 September 17

10:34 Severnaya Verf shipyard launches third processing trawler of Project 170701, Kapitan Ostashkov (video)
09:58 The Port of Calais officially inaugurated
09:26 Crude oil market sees downward price correction
09:23 MABUX: No firm trend is registered on global bunker market on Sep 17
09:09 Baltic Dry Index as of September 16

2021 September 16

18:35 Boskalis completes EUR 100 million share buyback program
17:30 Construction of port Lavna kicked off in Murmansk Region
17:21 APM Terminals opens first “Fast Corridor” between Vado Ligure reefer terminal and inland customers in Italy
17:05 Wärtsilä cloud simulation now available on-demand via OTG’s Ocean Learning Platform
16:41 Evergreen’s Ever Ace with WinGD’s large bore X92 bore size engines crossed the Suez Canal
16:14 The new Port of Calais officially inaugurated after six years of construction
15:45 Southampton’s newest cruise terminal officially opened
15:35 Organizers of International Conference “Development of Icebreaking and Support Fleet“ offer the event programme
15:14 Dublin Port publishes Port Infrastructure Charges Pricing Strategy 2022 to 2026
14:53 Port of Oakland beef export volume up 25 percent in Jan - July 2021
14:37 UK ports welcome public support for clean maritime projects
14:26 IVECO and Nikola sign MoU with Hamburg Port Authority for zero-emission Class 8 battery-electric trucks
13:40 SMM Maritime Industry Report (MIR) shows industry on track for sustainability
13:16 MABUX: Bunker Weekly Outlook, Week 37, 2021
13:02 Port of Los Angeles cargo volume exceeds 954,000 TEU in August 2021
12:11 Sharrow Marine announces plans to roll out an exclusive OEM Sharrow Propeller™ Boatbuilder Program
11:47 TransContainer arranged transit transportation from Korea to Turkey via Far East and Novorossiysk ports
11:24 DOF Group announces new contracts in Brazil
11:02 Cargo-passenger ferry Pavel Leonov arrived at Korsakov, the ship’s homeport
10:38 Capacity of Vostochny Port’s multipurpose complex to be raised to 117,000 TEUs per year
10:21 Norwegian Ministry of Petroleum and Energy sees great interest in the Norwegian continental shelf
10:13 DFDS acquires ICT Logistics
09:49 Crude oil prices continue rising driven by data on reduction of reserves
09:30 Maersk acquires a Portuguese cloud-based logistics start-up HUUB
09:16 Baltic Dry Index as of September 15
09:15 MABUX: Global bunker prices may rise sharply on Sep 16
08:28 Castor Maritime announces new charter agreements

2021 September 15

18:43 Royal Phuket Marina’s inner-channel dredging project to deliver round-the-clock access for boats up to 35 metres
18:37 NJEDA and PSEG sign 78-year lease for the New Jersey Wind Port
18:17 PGS sets multiple acquisition records
17:55 Nefteflot lays down two ships of Project RDB 66.62
17:31 Subsea 7 awarded FEED contract in Norway
17:30 Gazpromneft Snabzheniye and Yamal-Nenets Autonomous Region to develop industrial and logistics park Obsky Prichal in Labytnangi
17:09 bp and NYK Line join forces to help decarbonise hard-to-abate sectors
16:57 SFL sells seven handysize bulk carriers
16:51 Yantar shipyard launches production of thermal and sound insulation
16:06 Sea Machines Robotics to embark on 1,000 nautical mile autonomous and remotely commanded journey around Denmark
14:34 Embracing digitalization will bring new opportunities and new discipline to cargo underwriting, says IUMI
14:02 Container ship FESCO Yanina joins the FESCO fleet
13:03 ICS issues new anti-COVID guidance
12:55 Evergreen Marine renews its 22-year LTSSP contract with KDI for another decade
12:49 SCF and Gazprom Neft join forces to facilitate decarbonisation and digitalisation in energy shipping
12:11 Options taken on additional Knutsen OAS LNG carriers results in three more Compact Reliq orders for Wärtsilä
11:37 PJSC TransContainer launches regular service from China to Rostov-on-Don via Nakhodka
11:15 Aker Solutions wins subsea FEED contract for NOA Fulla
10:58 Throughput of Kaliningrad port in 8M’2021 fell by 2% Y-o-Y
10:35 Throughput of port Vyborg in 8M’2021 rose by 46% Y-o-Y
10:13 Throughput of port Primorsk in 8M’2021 fell by 1% Y-o-Y
09:50 Throughput of port Vysotsk in 8M’2021 fell by 5% Y-o-Y
09:31 MABUX: Global bunker prices do not change and stay steady on Sep 15
09:29 Crude oil prices rise on reduction of reserves
09:14 Baltic Dry Index as of September 14
08:22 ABS launches industry-first simulation decarbonization service

2021 September 14

18:31 Loss prevention provides a ‘virtuous circle’ of returns, says IUMI
18:06 ABP and DB Cargo UK win the Rail Freight Group’s award for Customer Care