Displaying items by tag: Eureka Shipping

Cyprus: Eureka Shipping has ordered two cement carriers from Netherlands-based shipbuilder Royal Bodewes. This latest order represents the fourth and fifth ships in a series that Eureka Shipping, a joint venture between SMT Cement Ships and the CSL Group, has requested from the shipbuilder, according to Maritime Reporter & Engineering News. The new ships follow the Aalborg White, Kongsdal and Norden that were built in 2019. Each vessel has a capacity of 4252dwt. Eureka Shipping operates a fleet of 13 cement carriers with a range of 3000 – 23,000dwt.

Canada: CSL Group has agreed to buy 50% of Eureka Shipping, SMT Shipping agreement for CSL to acquire 50% of Eureka Shipping, SMT’s pneumatic cement vessel business. The new joint venture will allow Eureka and CSL to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world. CSL’s Australian cement shipping business is not included in the joint venture.

“The joint venture represents an important step in CSL’s strategy to increase its presence in the global construction material sector,” said Louis Martel, President and chief executive officer (CEO) of CSL Group.

The companies say that the partnership is a strong strategic fit, leveraging the companies’ respective strengths in the shipping and handling of dry bulk cargos. There will be no change in the day-to-day management and operation of vessels in the Eureka fleet. The transaction is subject to regulatory approval and is expected to be completed by the end of June 2018.

Eureka Shipping operates a fleet of self-unloading cement carriers in the Baltic Sea, the Atlantic Ocean, the Mediterranean Sea, the Caribbean and Asia. SMT Shipping Group has, over the past 30 years, built a fleet of about 45 vessels through a number of joint venture companies operating in various bulk commodities markets, focusing on geared bulk carriers, floating storage/transhipment terminals and belt-unloaders.