MARIDA MARGUERITE: Economou tanker

George Economou , beneficial owner, Chemical tanker MARIDA MARGUERITE, was hijacked 120 miles south of Salalah (Oman). The Marshall Island-flag ship was approached by a pirate skiff firing automatic weapons and rocket propelled grenades and the crew reported that they saw the pirates climbing onboard.


GEORGE Economou has set himself up for a slice of Morgan Stanley’s involvement with renowned tanker pool player Heidmar Inc, through the acquisition of a 49% stake in the Per Heidenreich-founded group. here
Heidmar, W-O Shipping Joint Tanker Venture
Heidmar Inc. and W-O Shipping Group B.V. have agreed on terms for the formation of a joint venture, WOMAR Holdings LLC, to commercially manage small and intermediate size IMO II/Chemical and other tankers less than 30,000 DWT.

Heidmar's Marida Tanker pool and W-O Shipping's Yamuna and Ganges pools will become part of the joint venture and will be managed by WOMAR from offices in Singapore and London. The intent of the joint venture is to provide tanker owners in this market segment with worldwide market coverage and it will initially have a combined fleet of over thirty tankers ranging in size from 3,750DWT to 16,700DWT.

Morgan Stanley Capital Group Inc. Signs Definitive Agreement to Acquire the Heidmar Group
Morgan Stanley Capital Group Inc. ("MSCGI"), the commodities division of Morgan Stanley (NYSE: MS), announced that it has reached a definitive agreement to acquire the Heidmar Group of companies, including Texas-based Houston Marine Services, Inc. ("Heidmar"). Both MSCGI and Heidmar view the transaction as an opportunity to build on what is already a premier franchise in international shipping. The acquisition is expected to close during MSCGI's fiscal fourth quarter, subject to the customary closing conditions, such as regulatory and antitrust reviews. Financial terms were not disclosed.

John Shapiro, President of MSCGI, said, "We are pleased to have reached a definitive agreement to acquire Heidmar and we look forward to working with its excellent management team to continue to expand its business. Heidmar has been built over the years with intense focus on customer-service and transparency. We aim to continue that tradition."

Per Heidenreich, Chairman & CEO said, "We are thrilled to be associated with the Morgan Stanley organization. We are confident that with their support Heidmar will continue to grow as a global logistics provider."

Heidmar Inc. ("Heidmar") announced today that Shipping Pool Investors Inc ("SPII") has entered into a definitive agreement to purchase a 49% stake in the company. In a related transaction, senior members of Heidmar's management will purchase a 2% equity stake in the company. Morgan Stanley, through its subsidiary Morgan Stanley Capital Group Inc. ("MSCGI"), will retain a 49% ownership stake in the company. It is anticipated that, subject to the receipt of necessary regulatory approvals, both purchase transactions will close within 30 days.

SPII is a company affiliated with the Cardiff Group ("Cardiff") whose founder is Mr. George Economou. Cardiff has extensive interests in the dry and wet freight shipping industry. Ten of Cardiff's vessels currently participate in two of the Heidmar shipping pools.

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