Diana Shipping Raises Offer to Acquire Remaining Shares of Genco Shipping

Danaos Corporation Acquires Remaining Interest in Gemini Shipholdings Corporation

July 1, 2021

Transportation

Danaos Corporation exercised its option to acquire the remaining 51% equity in Gemini Shipholdings Corporation for $86.7 million in cash (net cash outflow approximately $72.3 million). Gemini owns five containerships (32,531 TEU) employed on time charters; the acquisition consolidates Gemini into Danaos' financials and is expected to increase Danaos' contracted revenue by about $160 million and contracted EBITDA by approximately $117 million.

Hapag-Lloyd to Acquire ZIM Integrated Shipping Services for $35.00 per Share

February 16, 2026

Transportation

Hapag-Lloyd has signed a merger agreement to acquire 100% of ZIM Integrated Shipping Services in an all-cash deal valued at approximately $4.2 billion (=$35.00 per share). The transaction is expected to close by late 2026 and includes plans for FIMI Opportunity Funds to form a new Israeli company (“New ZIM”) to acquire a carved-out portion of ZIM’s business tied to the Special State Share (Golden Share).

Noble Corporation plc Acquires Diamond Offshore Drilling, Inc.

June 10, 2024

Oil & Gas

Noble Corporation plc entered into a definitive merger agreement to acquire Diamond Offshore Drilling, Inc. in a stock-plus-cash transaction, with Diamond shareholders receiving 0.2316 Noble shares plus $5.65 in cash per Diamond share. The acquisition closed on September 4, 2024, expanding Noble’s offshore drilling fleet and adding approximately $2 billion of backlog.

Pangaea Logistics Solutions Completes Fleet Combination with Strategic Shipping Inc.

December 30, 2024

Transportation

Pangaea Logistics Solutions Ltd. completed a combination transaction with Strategic Shipping Inc., issuing 18,059,342 shares (approximately 27.6% of outstanding stock) to SSI in exchange for fifteen handy-size dry bulk vessels. The vessels were valued at approximately $271 million at closing (inclusive of $100 million of vessel financing assumed), and the deal closed following shareholder approval on December 30, 2024.

Kenco Acquires The Shippers Group

January 4, 2024

Transportation

Kenco, a Chattanooga-based third-party logistics provider, has acquired Dallas-based The Shippers Group in a transaction that adds 3.8 million square feet of warehousing across eight sites in Florida, Georgia and Texas. The deal expands Kenco's capacity, geographic reach and co-packaging/fulfillment capabilities; terms were not disclosed.

Pangaea Logistics Solutions Purchases Remaining 50% of Nordic Bulk Partners

October 7, 2024

Transportation

Pangaea Logistics Solutions Ltd. entered into a definitive agreement to buy the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC for $17.2 million in cash. The deal will give Pangaea 100% ownership of Nordic Bulk Partners’ ice class dry bulk vessel fleet and is expected to close by November 1, 2024 subject to customary conditions.