Investor Inc.
The Company, based in Panama, traces its history back to 1990
when the first company in the Group was incorporated under
the name of Frogner Shipholding AS. The Group also established,
took over the management and invested in a number of limited
partnerships owning reefer containers, tank containers, deep
sea drill ships, offshore oil rigs, oil tankers and bulk carriers
using the name from the Frogner/Northern.
In 1990 the Group syndicated equity in corporation with S.
Sejersted Bødtker & Co. A/S, Oslo and Investment
A.S., Oslo which established a limited partnership K/S Five
Rig Venture which acquires 4 offshore barge oil rigs (Portal
40, Portal 41, Portal 42, and Portal 45). All of them went
into a profit sharing certeparti with Falcon Drilling Co.,
USA. All the rigs were later sold at a healthy profit to the
Falcon Drilling Co. The replacing cost of the oil rigs was
approximately $ 80 million but the limited partnership acquired
all the rigs for approximately $10million near the bottom
of the offshore oil drilling market.
In 1990 the Group took over the management and reorganized
the limited partnership KS Boreship II which had bareboat
chartered the deep sea dynamically positioned vessel M/V Pelican
II from the Dutch Shipping Group Foramer. The limited partnership
has terminated the bareboat charter and the Company now only
has financial investments. The Group holds approximately 70%
stake and still manages the partnership.
In 1990-1994 the Group took over the management of approximately
20 limited partnerships owning reefer and tank containers
with more than 1000 investors and reorganized the partnerships
in a consolidated company Northern Container AS, Oslo.
In 1991 the Group as one of the partners in Frogner Project
AS established 9 unlimited partnerships. Each partnership
acquired one shelterdecker from the Paal Wilson Ship Owning
Group. The partnership acquired the following vessels: M/V
Truro, M/V Tysso, M/V Kambo, M/V Justo, M/V Lutro, M/V Hedlo,
M/V Bongo, M/V Botno and M/V Kinso. The total project price
for all the vessels was approximately US$ 10 million. All
the vessels were leased back on a long term bareboat agreement
back to the Paal Wilson Ship Owning Group. All the vessels
are sold back to the Paal Wilson Ship Owning Group at a healthy
profit.
In 1995 the Group established a ferry line between Dubai and
Bahrain by establishing the limited partnership KS Fast Ferry
with approximately 50 investors that purchased a Norwegian
ferry for the purpose. This was done with the cooperation
with Mr. Tormod Bergsjo. The ferry line accumulated losses
and the Group saw no possible way to make the line profitable.
After a period of limited activity the limited partnership
sold the ferry to investors in the Middle East.
In 1995 the Group established KS Northern Bulk which acquired
the bulk carriers M/V Northern Navira and M/V Northern Express.
In 1996 the Group established KS Northern Tank which acquired
the product tanker M/T Helena. The vessels were all on bareboat
charters to South Asia Holdings Ltd. Isle of Man controlled
by the Norwegian shipping group S. Sejersted Bødtker&
Co. A/S . South Asia Holdings Ltd. failed to pay the bareboat
charter and the vessels were disposed at considerable losses.
The Group acquired a portfolio of dept/loan in connection
with restructuring/reorganizing of various shipping and offshore
oil and gas projects. The Group has been able to collect considerable
amounts on the portfolio every year making it one of the most
profitable businesses of the Group.
The Group was consolidated under the name Northern Shipping
ASA. The shipping, offshore oil and gas and financial investments
were organized under a subsidiary with the name Skipsinvestor
AS. In 1999 Northern Container AS was merged with Skipsinvestor
AS. In 2002 Skipsinvestor AS relocated its business in Panama
and changed its name to Investor Inc.
The Company holds investments in the world's major oil &
gas companies like Apache Corp., Exxon Mibil Corp., and Sunoco
Inc.
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Associated
Investments Holdings Ltd
Associated Investments Holdings Ltd is a Liberia based diversified
financial/ industrial holding company with its main areas of activity
within the shipping, the offshore oil & gas industry and the
financial sector.
The company's main subsidiaries include Investor Inc.
, Cornupia
Capital Ltd., Nanobiocorp.
and Oprhys Properties
Ltd.
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