Banner
Banner
Banner
Banner
Banner
E-mail

CSL and SMT forge global cement shipping joint venture

2018-05-09

 

McKeil Marine's Evans Spirit  won the International Bulk Journal's 2016 Ship of the Year Award during the IBJ's Salute to Excellence in the Maritime Bulk Industry gala awards ceremony in London, UK on November 21.
"It's a fantastic way to closeout our 60th anniversary year: having a vessel named after our founder, Evans McKeil, win this prestigious international award," said Steve Fletcher, President and CEO of McKeil Marine.
Acquired by McKeil in 2015, the Evans Spirit is a cargo ship with the shallow draught characters of a tug and barge; however, compared to a tug-and-barge unit, she can transport approximately 40 per cent more cargo about 50 per cent faster on a very similar amount of fuel.  She is in service throughout the Great Lakes and St. Lawrence River.
Evans Spirit was shortlisted for 2016 Ship of the Year competing with three other vessels: CS Bright, Mitsui OSK Lines, Japan;  Damen Shipyards, Netherlands; and MN Baroque, Swiss Marine, Switzerland. The award is presented to the owner, operator or builder of an outstanding individual bulk ship. Judged on operational efficiency, design innovation, safety and environmental protection, the Evans Spirit was selected as winner. (Photo Paul Beesley).

Cyprus-based SMT Shipping and Montreal's CSL Group announced on May 8 they have entered into an agreement for CSL to acquire a 50% stake in Eureka Shipping Ltd., SMT's pneumatic cement vessel business.

The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies 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 agreement.

"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 CEO of The CSL Group. "We are confident that the synergies between CSL and the Eureka team, along with our common values and complementary skills will further strengthen our ability to provide significant value to our customers and an effective platform for growth."

The largest owner and operator of self-unloading vessels in the world, the CSL Group operates throughout the Americas, Australia, Europe and Asia - delivering more than 70 million tonnes of cargo annually for customers in the construction, steel, energy and agri-food sectors.

"SMT Shipping is honored to partner with CSL in Eureka," said Mark Voorham, CEO of SMT Shipping. "We feel the new joint venture will harness the strengths of both respected companies, which will work together seamlessly to serve our clients with the highest levels of service and professionalism."

 

SMT Shipping has over the past 30 years built a fleet of about 45 vessels trading in various bulk commodity markets.

"For Eureka Shipping, the partnership with CSL provides a strong, collaborative platform to further invest in innovative logistics solutions to the benefit of our customers in the cement and building materials industries," added Kai Grotterud, CEO, Eureka Shipping Ltd.

Eureka Shipping operates a fleet of self-unloading cement carriers in the Baltic Sea, Atlantic Ocean, the Mediterranean Sea, the Caribbean and Asia.The partnership is a strong strategic fit, leveraging the companies' respective strengths in the shipping and handling of dry bulk cargoes.

There will be no change in the day-to-day management and operation of vessels in the Eureka fleet. The transaction is subject to certain regulatory conditions and is expected to close by end of June. (Photo SMT)

 
Banner
Banner
Banner
Banner