Intermarine, Zeaborn Get the ‘All Clear’ for Their JV
- Business & Finance
Zeamarine, the Joint Venture formed between Intermarine and Zeaborn Group in May 2018, has received all the required governmental and agency approvals to launch operations.
The joint venture will see the transfer of assets and operating entities from Zeaborn’s commercial activities as well as Zeaborn-owned Rickmers Line and Maritime Holdings-owned Intermarine, creating a new specialist in the transport of project, breakbulk and heavylift cargo.
The shareholders of the newly-formed company are expected to fund new capital to grow the joint venture where Zeaborn will serve as the majority shareholder.
The agreement includes the consolidation of staff, and the global network of customers and offices.
“The near-term strategy for the new, one group one company Zeamarine is growth, improved customer service; and a continued search for opportunities to build the business,” the company said announcing the clearance from authorities.
The company will have more than 85 vessels and is expected to exceed 100 vessels by year-end.