A week after unveiling Oaktree Capital Management as a new investment partner, German heavy-lift and project cargo carrier Beluga Shipping said the Los Angeles-based private equity group would provide financing of up to $260 million toward long-term growth and a new generation of specialized vessels.
The Los Angeles-based private equity group would invest “close to approximately 200 million euros ($260 million),” a Beluga spokeswoman said.
The companies did not say what stake Oaktree would acquire in the privately-owned Beluga.
Beluga said it expects to place orders shortly for two P-3 multipurpose heavy-lift project ships fitted with cranes capable of lifting weights of up to 2,000 metric tons in tandem using on-board 1,000 metric ton cranes.
Beluga also plans to buy two cable-laying vessels and a couple of supply ships for the offshore wind farm sector.
The company will order offshore erector vessels that will load, transport and install offshore wind energy farms for its joint venture with German’s Hochtief Construction.
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