The CMI shareholders will pass the entire share capital of CMI to Anglo-Eastern, which said it has the scale, reputation and technical capability to develop the business and continue the services provided to CMI’s clients and customers in the expedition cruise sector.
Expanding into a new sector
Anglo-Eastern said its values mirror those of CMI and it is delighted to have found the opportunity to extend its ship management operations into a new sector.
SunStone Maritime Group said it is 'thrilled about the opportunities this sale will bring for the future of our fleet, our crew and our shore-based employees. We continue to explore ways of improving our fleet and our role as the leading tonnage provider to the expedition cruise industry, and we look forward to welcoming Anglo-Eastern as the technical and hotel manager of the SunStone fleet.'
No officers or crew will be moved from the SunStone fleet of vessels.
'A great parent'
For CMI, 'It gives us a bigger playing field,' said Dietmar Wertanzl, president and CEO of CMI Leisure Management. 'It is a great parent. We'll have strong support with their size and magnitude. We are excited ...They are also family-owned so we share their values.'
Hong Kong-based Anglo-Eastern has 650 vessels under full technical management, over 250 under crew management and a technical services division that has overseen more than 450 newbuildings and conversions. Crewing the fleet is a pool of 30,000 active seafarers who receive continuous upskilling at Anglo-Eastern’s Maritime Training Centers, while cadets are developed at the Anglo-Eastern Maritime Academy near Mumbai. Supporting the fleet and crew is a team of more than 1,800 shore staff, who provide global coverage via specialist centers located across Asia, Europe and the Americas.
Expedition, luxury adventure, educational cruising
Cruise Management International manages passenger vessels, from smaller 50-plus passenger ships and coastal vessels to larger 2,000-passenger vessels. Segments include expedition, Arctic operations, luxury adventure and educational cruising markets, in all regions of the world.
CMI Leisure Management delivers customized hotel management services for the burgeoning expedition and niche cruise market, offering isolutions that encompass provisioning, operations, personnel and logistics.
Miami location to continue
The terms were not disclosed. The sale and purchase are expected to be finalized in July. CMI will continue to be based in Miami, where the group’s companies will maintain their business and operations.
Wertanzl expects the same management to continue: 'No changes, business as usual,' he said.
Update adds SunStone Group's comments
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