V.Group acquires Selandia in further consolidation of shipmanagement sector

V.Group, parent of shipmanaging giant V.Ships, has acquired Selandia Holdings in yet another deal underlining the consolidation phenomenon within the shipmanagement sector.

Selandia was founded in Mumbai as a joint venture with Acomarit in 1995, and the partner was acquired by V.Group in 2001.

Over the years, Selandia has grown to become a multi-national company that manages ships and crews from India, Singapore, Latvia and other locations. Its website said the company managed 63 tankers, bulkers and containerships.

According to a V.Group statement, the deal will enhance the company’s capability to offer outsourced marine services from Asia, especially in the tanker sector.

“By joining our portfolio of shipmanagement businesses, we are able to offer Selandia Ship Management Group’s existing clients significant economies of scale and enhanced global responsiveness,” V.Group chief executive Clive Richardson said.

“For V.Group, this acquisition represents a great opportunity for us to continue to lead on our technical and crew management operations in India — particularly the tanker sector, where there is high demand for specialist skills.”

Selandia will still operate as an independent shipmanagement brand within the V.Group portfolio. According to the statement, V.Group now is the largest shipmanager in India and has the widest access to Indian seafarers.

The company did not disclose further details on the deal. Lloyd’s List has sought comments from V.Group.

In March, V.Group acquired Britain’s Bibby Ship Management, an affiliate of the Bibby Line Group that focuses on the offshore sector, for an undisclosed consideration.

Two sizeable Hong Kong-based players, Anglo Eastern and Univan, were merged in August 2015, bringing together a combined fleet of some 700 vessels under full management or crew management.

By some accounts, V.Group is the largest player in the shipmanagement niche, with more than 2,500 staff  based across 64 offices globally, supporting some 40,000 personnel in marine and offshore roles.

 

For more maritime stories visit: www.lloydslist.com

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