OceanPact and CBO complete merger to form offshore services group

OceanPact and CBO have finalized their business combination following approval from Brazil’s antitrust authority, CADE. As part of the integration, CBO has joined OceanPact, and the Navigation business unit has been renamed OceanPact CBO.

The combined entity operates a fleet of 70 vessels and employs more than 5,000 people. The company reports annual revenues exceeding R$4 billion and a contracted backlog of more than R$14 billion, positioning it as a leading player in Brazil’s maritime and offshore services sector.

The merger aims to expand capabilities in complex services, including subsea operations, environmental emergency response, decommissioning, and integrated logistics. Strategic goals for the combination include strengthened cash generation, increased dividend potential, and operational synergies through a more diversified client base and a younger average vessel age.