I. M. Skaugen

Last updated
I.M. Skaugen SE
Type Public (OSE: IMSK)
Industry Shipping
Founded1916
Defunct2018 (2018)
Headquarters Oslo, Norway
Area served
Global
Key people
Morits Skaugen jr. (CEO)
Website www.skaugen.com

I.M. Skaugen (OSE : IMSK) or IMS was a shipping company that operates within petrochemical gases and liquefied petroleum gas (LPG) and lightering of crude oil and liquefied natural gas (LNG). IMS was horizontal integrated and designs, builds, owns and operates its fleet of vessels. The company also owns Norgas and Skaugen PetroTrans.

History

The company dates back to 1916 when Isak Martinius Skaugen founded D/S-A/S Eikland. After World War II Skaugen and Sven Salén founded the joint venture Salen-Skaugen Line that offered passenger and cargo liner service from the United States East Coast to the Middle East. In the 1960s Skaugen entered the Norwegian Bulk Carrier Pool and during the 1970s the company co-founded Royal Caribbean Cruise Line. 1982 saw the founding of Norwegian Gas Carriers along with four other shipping companies. In 1988 the company sold its partial ownership in Royal Caribbean Cruise Line and bought the conglomerate Kosmos. Two years later the company was listed on the Oslo Stock Exchange when it merged with Laboremus and Kosmos Shipping. The Kosmos shuttle tanker operation was at the same time spun off in Skaugen PetroTrans.

Bankruptcy

At the end of 2018, I.M. Skaugen went into bankruptcy. Skaugen had lost an important partner and had to look for additional financing, but after months of negotiation refinancing failed. The shipping company had no other choice than to file for bankruptcy.

Related Research Articles

<span class="mw-page-title-main">Viking Line</span> Finnish shipping company

Viking Line Abp is a Finnish shipping company that operates a fleet of ferries and cruiseferries between Finland, the Åland Islands, Sweden and Estonia. Viking Line shares are quoted on the Helsinki Stock Exchange. Viking Line is operated from Åland.

<span class="mw-page-title-main">Carnival Corporation & plc</span> British–American global cruise operating company

Carnival Corporation & plc is a British-American cruise operator with a combined fleet of over ninety vessels across nine cruise line brands and one joint venture with China State Shipbuilding Corporation (CSSC). A dual-listed company, Carnival is composed of two companies – Panama-incorporated, US-headquartered Carnival Corporation, and UK-based Carnival plc – which function as one entity. Carnival Corporation is listed on the New York Stock Exchange, whereas Carnival plc is listed on the London Stock Exchange with an ADR listing on the NYSE. Carnival is listed in both the S&P 500 and FTSE 250 indices.

<span class="mw-page-title-main">Merchant ship</span> Civilian boat or ship that transports cargo or carries passengers for hire

A merchant ship, merchant vessel, trading vessel, or merchantman is a watercraft that transports cargo or carries passengers for hire. This is in contrast to pleasure craft, which are used for personal recreation, and naval ships, which are used for military purposes.

<span class="mw-page-title-main">K Line</span> Former Japanese shipping company, now [[Ocean Network Express]]

Kawasaki Kisen Kaisha, Ltd. is a Japanese transportation company. It owns a fleet that includes dry cargo ships, container ships, liquefied natural gas carriers, Ro-Ro ships, tankers, and container terminals. It used to be the fourteenth largest container transportation and shipping company in the world, before becoming part of Ocean Network Express in 2017.

<span class="mw-page-title-main">Amerijet International</span> American cargo airline

Amerijet International Airlines, Inc. is an American cargo airline headquartered in Miami, United States. The airline delivers air freight with its fleet of Boeing 757s and Boeing 767s from its main hub at the Miami International Airport to 48 destinations throughout the Caribbean, Mexico, Central and South America. Their network spans 476 destinations throughout the world, including Europe, Asia, the Americas, Africa, and the Middle East.

MS <i>Formosa Queen</i> Cruise ship

MS Song of Norway was one of the first ships purpose-built as a cruise ship. She was the first ship of Royal Caribbean International when she entered operation in 1970. She was sold for scrap in 2013 and broken up in 2014, after serving her last years as a gambling ship.

Pullmantur Cruises was a cruise line headquartered in Madrid, Spain. It began operations in the late 1990s as an offshoot of the Madrid-based travel agency Pullmantur. In 2006, Pullmantur Cruises, through its parent company, was purchased by U.S.-based Royal Caribbean Group, but Royal Caribbean later sold a 51% stake in the cruise line to Spain-based investment firm Springwater Capital, retaining a 49% stake.

<span class="mw-page-title-main">BW Group</span> Maritime company

BW Group is a maritime company involved in shipping, floating gas infrastructure and deep-water oil & gas production. The company has over 350 vessels managed by an international team of over 7000 staff worldwide. The group was founded by Sir Yue-Kong Pao in Hong Kong in 1955 as World-Wide Shipping. In 2003, the company acquired Bergesen d.y. ASA, Norway's largest shipping company, which was founded in 1935 by Sigval Bergesen the Younger. In 2005, the business was re-branded as BW. With its LNG and LPG fleets combined, BW Group owns and operates the world's largest gas shipping fleet of more than 115 gas vessels, including four FSRUs. Hafnia, a member of the BW Group, operates the world's largest fleet of oil product tankers, and BW Offshore comprises the second largest number of floating oil and gas production units (FPSOs).  BW's controlled fleet of over 350 ships also includes crude oil supertankers and dry bulk carriers.

<span class="mw-page-title-main">Marine propulsion</span> Systems for generating thrust for ships and boats on water

Marine propulsion is the mechanism or system used to generate thrust to move a watercraft through water. While paddles and sails are still used on some smaller boats, most modern ships are propelled by mechanical systems consisting of an electric motor or internal combustion engine driving a propeller, or less frequently, in pump-jets, an impeller. Marine engineering is the discipline concerned with the engineering design process of marine propulsion systems.

<span class="mw-page-title-main">Leif Höegh & Co</span> Shipping company

Leif Höegh & Co is a shipping company founded in 1927 by Norwegian Leif Høegh (1896-1974). Since 2006 the company has been structured as two separate entities, Höegh Autoliners and Höegh LNG, with Leif Höegh & Co acting as a common holding company.

MS <i>Golden Princess</i>

MS Golden Princess was a casino cruise ship owned by Eurasia International, operated on short casino cruises out of Hong Kong. She was built in 1967 by the Wärtsilä Hietalahti shipyard in Helsinki, Finland as Finlandia for the Finland Steamship Company. In 1975 she was sold to Finnlines, who converted her into the cruise ship Finnstar in 1978. In 1982 she entered service for Pearl Cruises as Pearl of Scandinavia. In 1988 she was renamed Ocean Pearl. In 1994 she entered service with Croisières Paquet as Pearl. Between 1995 and 1998 she sailed for Costa Cruises as Costa Playa. In 1998-1999 she sailed as Oriental Pearl for Mega Wave International, and in 1999-2000 as Joy Wave for Costa Cruises. In 2000 she was sold to Eurasia International and entered service under the name Golden Princess. In 2009 she was sold for scrap to China.

A/S Kosmos was a shipping and industrial company from Sandefjord.

Premier Cruises was a cruise line holding company formed in the early 1990s that focused on the family cruise market as well as on developing cruise operations in new geographic markets. The company's business focus was to acquire older cruise vessels, refurbish these vessels in order to offer "traditional cruise experiences", operate the vessels in geographic areas, such as Europe and south/Central America, which the major operators such as Carnival Cruise Line, Norwegian Cruise Line and Royal Caribbean International were not focusing at the time, and to market their cruises largely to European and South American customers through strategic marketing partnerships with some of the major tour and travel groups in the world such as Thomson Holidays in the U.K, TUI in Germany, Fritidsresor in Scandinavia, Alpitour in Italy and Pullmantur in Spain as well as through more than a dozen operators in south / Central America such as CVC in Brazil. The company was operating out of its main offices in Cape Canaveral and Miami, Florida.

<span class="mw-page-title-main">Nakilat</span>

Qatar Gas Transport Company Limited, commonly known as Nakilat is a Qatari shipping and maritime company. Its LNG shipping fleet is the largest in the world, comprising 74 vessels. The company also jointly owns one Floating Storage Regasification Unit (FSRU) and 4 very large LPG carriers (VLGCs). Through its in-house shipmanagement, Nakilat manages and operates the four very large LPG carriers and 14 LNG carriers.

Morits Skaugen Sr. was a Norwegian yacht racer and businessperson.

Brynjulf Skaugen Sr. was a Norwegian business executive.

<span class="mw-page-title-main">Perno shipyard</span> Shipyard in Turku, Finland

Perno shipyard is a shipyard in Turku, southwest Finland, that specialises in building cruise ships, passenger ferries, special vessels and offshore projects. The yard area is 144 hectares. The yard is operated by Meyer Turku Oy. The dry dock is 365 metres (1,198 ft) long, 80 metres (260 ft) wide and 10 metres (33 ft) deep, and equipped with two bridge cranes with capacities of 600 tonnes and 1,200 tonnes. The newer bridge crane with a capacity of 1,200 tonnes is the largest in the Nordic region.

Navigator Gas L.L.C. is a publicly traded liquefied gas shipping company with a global market, that was incorporated in 2000 in the Marshall Islands. It was restructured in 2006, and revitalized in 2012 to become the world's largest fleet of large, sophisticated gas shipping vessels.