Germany’s SAL Heavy Lift Group, an ocean transporter of the world’s largest and heaviest shipments, has acquired a major stake in Intermarine, expanding its presence in the U.S. project cargo market.
Financial terms of the deal were not disclosed.
SAL has sought to expand its market presence in the Americas project cargo market. For more than three decades, Intermarine, with offices in Houston and New Orleans, has provided this specialized marine transport service between North and South America and in the Caribbean, in combination with a strong intra-South America network, SAL said.
SAL said Intermarine will continue to operate as an independent brand, with Richard Seeg as president and Chad Call as vice president and chief financial officer. SAL, however, will install shareholder Svend Andersen as CEO of Intermarine.
“I have invested in this venture as I see great prospects in bringing the Intermarine brand and business onwards under the helm and support by SAL Heavy Lift as a top brand in the heavy lift shipping industry,” Andersen said in a statement Monday.
Both carriers operate heavy lift ships of different sizes and capabilities.
With the acquisition of Intermarine, SAL said its customers will “benefit from more vessels being able to operate not only in and out of South America, but also into offsite river deltas, where SAL would otherwise have had limited access.”
As a subsidiary of SAL, Intermarine’s customers will have access to some of the world’s largest heavy-lift ships that operate in the Americas, Europe, Asia and Africa trades.
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Click for more FreightWaves/American Shipper articles by Chris Gillis.