Weekly Press Review – 12 December 2016

The big maritime news this week is the announcement that African Marine Solutions Group (AMSOL) has acquired the marine solutions company Smit Amandla Marine.

According to the press the sale of the Smit Amandla Marine to AMSOL, which is owned by a consortium including Smit Amandla Marine management and employees, the Mineworkers Investment Company, Pan-African Capital Holdings and RMB Ventures, is in line with a stated commitment by shareholders to capacitate the company over time and return it to 100 percent South African ownership.

Paul Maclons, AMSOL Managing Director, said, “We are excited to build a great South African company and to remain relevant to our clients in the energy, mining, ports and maritime sectors into the future.”

Mary Bomela, CEO of the Mineworkers Investment Company, believes the acquisition supports the objectives of Operation Phakisa. “In facilitating the transformation of the maritime economy in South Africa, AMSOL is now in a unique position to support the continued growth and transformation of the sector in the region – with the transaction including Smit Amandla Marine’s business in Namibia and Mozambique.”

Also making headlines this week is the announcement that South African company Veecraft, specialists in new vessel construction, will be selling two advanced specification security vessels after clients defaulted on payment.

The sale will take place in Cape Town and the vessels could fetch up to US$6 million each.

Ariella Kuper, managing director of Clear Asset who is assisting Veecraft with the urgent sale of the vessels says, “International companies are showing interest in these vessels.”

Finnish power systems company Wartsila is among several companies eyeing opportunities in South Africa’s mooted gas-to-power independent power producer (IPP) programme.

According to the press the programme is expected to be the catalyst for the development of the gas industry in South Africa.

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