Inchcape buys Oceania Maritime Services

Inchcape buys Oceania Maritime Services U.K.-based marine services provider Inchcape Shipping Services (ISS) has completed a 100 percent buyout of Australian agency house, Oceania Maritime Services (OMS) from P&O Maritime Services that it said would help double its business across Australasia. Financial details were not disclosed.

Hyldager

   OMS was formed in 2005 from the merger of Adsteam Agency’s bulk ship agency business in Australia and Beaufort Shipping Agency Co., P&O’s shipping agency unit in Australia. The company specializes in port agency services for bulk carriers and cruise ships plus husbandry services for container vessels.
   OMS employs more than 90 staff in Australia and services more than 50 ports from 25 offices in all states across the country. The company has recently focused on developing its Indian operations and now has 46 staff in six offices.
   “This is an important strategic acquisition for the company, which will greatly strengthen our position in these crucial markets,” said Claus Hyldager, ISS’s chief executive officer. “The buoyancy of both OMS’s and ISS’s business in these regions reflects very healthy Australian coal and metal ore exports, particularly to China and India. In making the acquisition, we had in mind the underlying strength of these trades.”