The deal will include the consolidation of vessel fleets, staff and the global network of customers and offices.
Zeaborn Group struck a deal with Maritime Holdings Delaware LLC, the parent company of Intermarine LLC, for the establishment of a joint venture between Zeaborn and Intermarine.
The joint venture entity, dubbed Zeamarine GmbH, will include the consolidation of vessel fleets, staff and the global network of customers and offices, Zeaborn said.
The transaction is still subject to antitrust clearance.
Bremen-based Zeaborn is a global integrated shipping company with four main business segments, which include tramp services, liner services, ship management and ship owning. The company’s core focus is on multipurpose shipping.
Since being founded in 2013, Zeaborn said it has grown over the last five years through organic growth as well as acquisitions in Europe and the Far East.
Houston-based Intermarine specializes in the transport of project, breakbulk and heavy lift cargo.
Intermarine claims to operate the largest U.S.-flag heavylift fleet and controls Industrial Terminals (Houston), the busiest project cargo terminal in the United States. Intermarine provides ocean transportation and marine logistics services with regular sailings in the Americas, West Africa, Europe, Asia and the Middle East, as well as inducement voyages to Australia and other international ports.
The shareholders of Zeamarine will commit to fund new capital to grow the joint venture, with Zeaborn serving as majority shareholder, Zeaborn said.
The joint venture will have more than 75 vessels and is expected to have over 100 vessels by year-end.
“Each respective entity brings unique value to the joint venture,” said Ove Meyer, managing partner of Zeaborn. “Intermarine has a strong reputation out of the United States into South America and is a leading project cargo player out of Asia; Zeaborn brings a strong presence in Europe and Asia.”
Zeaborn, Intermarine forming joint venture
