Supply chain solutions giant AIT Worldwide Logistics entered a binding purchaseagreement to acquire Dutch Lubbers Logistics Group, according to a press release. The acquisition will boost AIT’s offerings in road transport, freight forwarding and project freight logistics. The acquisition — which is set to see completion by the end of the year — will also help extend the company’s footprint across four new countries including Denmark, Norway, Romania and Turkey.

Advisors: Kirkland & Ellis and NautaDutilh NV are acting as legal counsel to AIT on the acquisition, while Loyens & Loeff is legal advisor to Lubbens. Nielen Schuman is acting as financial advisor to Lubbers.

Could Denmark block tankers transporting Russian oil from reaching foreign markets? A recent report from the Financial Times, citing sources in the know, suggests that the European Union could be tasking Denmark with inspecting and potentially blocking tankers carrying Russian oil from traversing its waters. The move would be reinforcing the G7’s price cap on Russian crude oil, which aims to curb Russia’s ability to finance its war on Ukraine. The speculated proposal arrives as Western officials admit that “almost none” of Russia crude oil exports were sold below the USD 60-a-barrel price cap in October 2023. The European Union has not confirmed the claims in the FT report.

ICYMI: Reports indicate that Russia has been using shadow tankers to circumvent the G7 price cap.

Why Denmark? Russia sends a third of its seaborne oil exports through Danish straits, meaning any halt of those supplies could result in oil prices rising, Reuters reports. Under the alleged plan, Denmark would target tankers transporting Russian oil without Western ins.

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