LevelSeas Buys SeaLogistics
The inevitable slimming of the ECommerce side of the marine business has commenced, with several majors dropping out of business and others merging. Last month. London-based eshipbroker LevelSeas acquired its main competitor, Houston-based SeaLogistics, and New-York based MaritimeDirect closed its doors forever. Yet another.
OneSea, indicated that a merger was imminent.
The news comes as little surprise as — for anyone who has not spent the last six months in a cave — it is painstakingly evident that the dollars behind speculative E-commerce start-ups are dropping faster than their stock prices. Simply put, with the world economy entering shaky new ground, less investment dollars are available, and fewer still for businesses that show little to no hope of generating significant revenues.
LevelSeas was founded by Shell, Cargill, and London shipbroker Clarksons in April 2000, to broker ships for cargoes over the Internet. It has always been seen by the shipping industry as the lead contender, closely followed by SeaLogistics.
The deal with SeaLogistics is designed to strengthen LevelSeas' position in the tanker markets especially. LevelSeas' core business is e-broking, but the platform also offers voyage-management and risk management tools. Freight futures trading will also be offered.
The first major shipping e-broker to fold was London-based Shipdesk, which failed to re-open its offices in the New Year, while MaritimeDirect had also talked of entering the e-broking market.
Other stories from April 2001 issue
- The New Knowledge Brokers? page: 8
- Crowley Launches Refurbishment Of 25 Seagoing Tugs page: 9
- Boat-Park.com — The Virtual Trade Show That Never Sleeps page: 12
- LevelSeas Buys SeaLogistics page: 12
- Proposed Regulations Regarding Source of Income From Activities In Intl. Waters page: 14
- COMSAT Mobile Communications Working With U.S. Coast Guard To Save Lives At Sea page: 18
- ASNE Day 2001 To Feature Timely Technical Papers, Informative Exhibits page: 20
- Adsteam To Buy Howard Smith page: 22
- Bollinger To Construct Pair of Vessels For Seacor Marine page: 24
- Holland America's New Ship Points Toward New Visa page: 25
- Cruise + Ferry 2001 Preview page: 25
- Radiance of the Seas — A First Class Delivery page: 26
- Cruise Lines Equip Fleets With Emergency Smoke Hoods page: 27
- Blount Retires From ACCL; Names Daughter As Successor page: 28
- Help Protect Interiors With SS Sanparrel page: 31
- The FPU Market Is Primed To Produce page: 33
- CWWS Delivers 200 Separators To Tidewater page: 38
- A Leg Up on the Competition page: 40
- Seacor Continues Rational Fleet Expansion page: 44
- GLM Poised For A Strong 2001 page: 46
- Friede Goldman Halter Negotiates $100M Financing page: 48
- Clamp Supplier Dives Into Project page: 49
- Dockwise Performs Timely Delivery Of Shell's Brutus page: 50
- Bollinger Wins K-Sea DH Barge Contract page: 52
- Telenor To Acquire COMSAT page: 52
- First Order For Dolphin Propulsion System page: 54
- Stena Discovery Performance Improved With Enhanced Steering System page: 54
- Voith Adds To Its Innovative Range page: 58
- Wartsila: Smokeless by Common Rail page: 64
- Wartsila, Marioff To Cooperate On Emission Control Technolgy page: 65
- Technology, Image Top Inland Agenda page: 66
- Leading Societies Launch Sweeping Safety Initiatives page: 73
- IZAR Delivers For Stena page: 74
- Furuno's New NavNet Is Compact, Seamless page: 74
- Finland: Cradle of Marine High-Tech page: 75