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Consolidation in Heavy Lift as German SAL Group Buys US Intermarine

breakbulk consolidation SAL buys Intermarine
(photo courtesy of Intermarine)

By The Maritime Executive 10-16-2020 04:16:23

Intermarine, a U.S. shipping company specializing in heavy lift and breakbulk shipping in the Americas, is the latest part of the consolidation of the industry. SAL Heavy Lift of Germany recently acquired a majority stake in the company. The consolidation was effective immediately and according to SAL brings together the expertise, resources, and fleets of both companies to establish a broader operation that will benefit both companies customers.

Operating for over 30 years, Intermarine provided breakbulk liner services between North America and South America and in the Caribbean. The company had developed a strong intra-South America trading network. 

Under the terms of the agreement, Intermarine will continue to serve its customers throughout the Americas as an independent brand within the SAL Heavy Lift Group. Richard Seeg will continue to serve as president and Chad Call as vice president and CFO, while Svend Andersen, a shareholder in the company, assumed the role of CEO. Andersen, who has been in the breakbulk and multi-purpose sector for four decades, spent his early career at Intermarine.

“The joining of Intermarine with the SAL organization is a perfect matching of two companies which share the same basic set of values and business philosophy, yet with a different fleet of vessels, resources, and outreach,” said Andersen. “In combination, it makes an unmatched setup in cross-Atlantic trading and intra-Americas heavy lift shipping. I have invested in this venture, as I see great prospects in bringing the Intermarine brand and business onwards under the helm and support by SAL Heavy Lift as a top brand in the heavy lift shipping industry.”

According to SAL, the combination provides the opportunity to enlarge its footprint in the Americas by offering a wider range of shipping opportunities and scope of services to both existing and new customers. With the acquisition of Intermarine, SAL’s customers can benefit from more vessels being able to operate not only in and out of South America, but also into offsite river deltas, where SAL would otherwise have had limited access.

Intermarine customers will get access to SAL’s heavy lift fleet, which, as the largest operator of +900t SWL vessels in the world, will provide the ability to connect cargo between the Americas, Europe, Africa, and Asia. The combination brings to market, according to SAL, the most comprehensive maritime breakbulk and heavy lift solution in the Americas.

“Having SAL as an organization behind the activities of Intermarine brings with it a wide range of commercial opportunities,” said Intermarine president Richard Seeg. “SAL holds one of the most comprehensive sales networks globally, and they also bring vessels, world-class engineering capabilities, and other resources that are extremely valuable to the commercial setup of Intermarine.”

The Intermarine fleet consists of multi-purpose heavy lift vessels that are IMO and Lakes fitted and with lifting capacities up to 400t SWL. SAL’s fleet consists of both ice class vessels, IMO fitted and Lakes fitted vessels, and vessels with lifting capacities up to 2000t.