Maritime Industry Roundup: Shipping Sales, Dredging Acquisition, and Subsea Cable Moves

## Oldendorff Sells Two Post-Panamax Bulkers German shipowner Oldendorff Carriers has sold two of its post-panamax bulk carriers, according to industry reports. The 115,000 DWT vessels Pia Oldendorff (built 2013) and Peter Oldendorff (built 2012) were sold for around $19 million each. This continues the trend of established shipowners divesting older tonnage in the current strong freight market. ## Hahn & Co Sells 10 VLCCs to Pan Ocean South Korean private equity firm Hahn & Company has agreed to sell 10 very large crude carriers (VLCCs) operated by SK Shipping to Pan Ocean for KRW973.7 billion ($694 million). The deal, which also transfers long-term cargo contracts, is expected to close by April 2027. This transaction allows Hahn to monetize its VLCC investments while Pan Ocean expands its crude oil shipping capacity. ## Saltchuk Acquires Great Lakes Dredge & Dock US maritime conglomerate Saltchuk has signed a definitive agreement to acquire publicly-traded dredging company Great Lakes Dredge & Dock for $1.5 billion. The all-cash deal will take Great Lakes private and expand Saltchuk's footprint in the US dredging and maritime infrastructure market. Great Lakes shareholders will receive $17 per share, a 25% premium to the recent stock price. ## Harbour Energy Enters US Gulf with LLOG Acquisition UK-based oil and gas producer Harbour Energy has acquired US exploration and production company LLOG Exploration for $3.2 billion. This marks Harbour's entry into the US Gulf of Mexico, strengthening its global portfolio alongside its existing core business in Norway. LLOG is a leading independent operator in the Gulf with a focus on deepwater and ultra-deepwater projects. ## Prysmian Buys Spanish Subsea Cable Specialist Italian cabling giant Prysmian has acquired ACSM, a Spain-based specialist in subsea cable installation, surveying, and seabed preparation. The €169 million ($200 million) transaction expands Prysmian's capabilities in the growing offshore wind and interconnector markets. ACSM operates in 60 countries and has over 350 employees.