Brazil’s offshore vessel owners OceanPact and CBO are set to combine their businesses by incorporating CBO’s holding company into OceanPact, thereby creating a firm that will have a total fleet of 73 vessels.
The partners note that the business combination is a catalyst for implementing sustainable innovation on a larger scale and is based on four strategic pillars, including strengthened cash generation, expanded operating capacity through a larger asset base, value creation through commercial and operational integration and synergies, and fleet complementarity, leading to increased capabilities, lower average fleet age, optimized vessel allocation and client diversification.