Our acquisition of CMI is now complete, thus heralding a new and enthralling era for Anglo-Eastern as we officially join the cruise market.
After a thorough due diligence process, we are excited to confirm our acquisition of Cruise Management International and its group of companies. The transaction, finalised on December 16th, includes the group’s ship management division Cruise Management International Inc. and hospitality arm CMI Leisure Management Inc., plus its third-party fleet of 15 expedition/cruise ships.
With both businesses now formally under the Anglo-Eastern banner, they have been rebranded Anglo-Eastern Cruise Management Inc. (AECMI) and Anglo-Eastern Leisure Management Inc. (AELM) and will remain based in Miami, where they have been operating bespoke expedition cruises to less travelled destinations like the Arctic and Antarctica since 2015.
Aimed at an exclusive audience, these expedition cruises combine eco-adventure and education for a once-in-a-lifetime experience. Customers include higher income earners looking for unique experiences, as well as scientists and academics.
The fleet, under the partial crew management of Anglo-Eastern since before the acquisition, comprises 12 expedition class vessels of various sizes and three cruise ships. These are staffed by a total of 1,400 seafarers, primarily from the Philippines, India, Indonesia and Ukraine. On average, each expedition vessel can accommodate between 150 and 200 passengers, while the cruise ships range in capacity from approximately 700 to 1,700 passengers.
Sustainability is a big focus for AELM, which recently launched its Green Initiative Programme 3.0. The adoption of green operations and onboard practices, such as hybrid propulsion, recycling, no single-use plastics, and sustainable seafood, ensure the expeditions respect the ecologically sensitive areas being visited.
The acquisition of the CMI group represents an exciting opportunity for Anglo-Eastern to extend our ship management operations into a new sector with strong growth prospects, as travel and tourism continues to rebound around the world.
“For the past five decades, Anglo-Eastern has been managing merchant vessels. Now, for the first time, we are excited to include passenger cruise ships as a way to diversify our business and explore new horizons, new possibilities. It’s something we’ve been looking to do, but the right opportunity never presented itself until now, and we are thrilled to have taken that first step,” said Bjorn Hojgaard, chief executive officer of Anglo-Eastern.
“We look forward to leveraging our global scale and expertise for growth in the cruise sector with two of the business’ niche experts that share our same commitment to quality, safety, and the environment. There are a lot of opportunities for collaboration and synergies, so it’s a very exciting time for us as a company.”