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Sumitomo And Mitsui Finalize Merger Conditions

Sumitomo Marine & Fire Insurance Co. and Mitsui Marine & Fire Insurance Co. on Tuesday announced terms under which they will merge next October, creating Japan's largest non-life insurer with assets of 5.7 trillion yen ($51.6 billion). In a joint statement, the companies said 1.09 Mitsui Marine shares will be allocated for one Sumitomo Marine share. The merged entity will be named Mitsui Sumitomo Insurance Co. with Mitsui Marine president Takeo Iguchi and Sumitomo Marine president Hiroyuki Uemura serving as co-chief executive officers. Mitsui Marine, currently Japan's third-largest casualty insurer, and fourth-ranked Sumitomo Marine agreed to merge in March. The merged entity will surpass is size current Japanese casualty insurance industry leader Tokyo Marine & Fire Insurance, which has assets of 5.37 trillion yen. Sumitomo Marine's shares on Tuesday closed down 18 yen or 2.44 percent at 721, and Mitsui Marine's closed down eight yen or 1.22 percent at 646. The merger terms were announced after the close of trading.


MN 100: Donjon Marine Co., Inc.

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100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812  Email: info@donjon.com Website: www.donjon.com President & CEO: J. Arnold Witte The Company: Donjon Marine Co., Inc. offers the marine community full-service solutions to meet every need in the field of marine salvage, dredging, material recycling and related services. Founded in 1964, Donjon Marine’s principal business activities were marine salvage, marine transportation, and related services


ZF Marine Named Supplier of the Year

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ZF Marine has been chosen as one of Mercury Marine’s suppliers of the year. Each year Mercury Marine evaluates over 1,500 suppliers, and selects only 12 to receive this award.  AJ Halavacs, Pleasure Craft Segment Manager, and John Shea, Account Manager, both from ZF Marine were on hand to receive the award from Mercury Marine.  It was presented last month at the Mercury Marine Supplier Conference in Sarasota. Fla


PFI Marine Electric in Dutch Harbor Year Round

Pacific Fishermen Shipyard and Electric, LLC (PFI Marine Electric) announced that it will now be providing year round marine electrical services in Dutch Harbor, Alaska, as well as the Puget Sound area, maintaining marine electricians on site 24/7. Seattle’s PFI Marine Electric shares facilities with Dutch Harbor’s Lunde Marine Electronics to provide marine electrical services in Alaska along with Lunde Marine’s electronic services


Drew Marine Acquires Chemring Marine

Affiliates of Drew Marine (“Drew Marine”) have reached a definitive agreement with Chemring Group PLC (“Chemring”) to acquire Chemring’s maritime interests (“Chemring Marine” or the “Company”) for a cash consideration of £32 million, subject to standard closing adjustments.  Under Drew Marine’s ownership, the business will be named Drew Marine Signal and Safety (“DMSS”).   


IMUA Names Award-winning Marine Underwriter

Gina Domitrovich, AMIM, Senior Marine Underwriter, AIG Global Marine & Energy, is the first recipient of the new American Marine Claims Award, by Inland Marine Underwriters Association’s (IMUA). The award presentation was made closing ceremonies during IMUA"s 83rd Annual Meeting held in Buckhead, Atlanta, GA. As the winner of the American Marine Claims Award, Ms. Domitrovich will receive a $2,000 cash award and a stipend towards attendance at the International Marine Claims


Cummins,CitiCapital Launch Alliance for Finance

Cummins Inc. and CitiCapital have reached an agreement to promote a co-sponsored marine finance program. Under the agreement customers who purchase Cummins engines for various commercial vessels will receive exclusive finance products provided by CitiCapital. This agreement demonstrates the cooperative efforts of both companies by bringing together the premier manufacturer of marine engines and the world's largest financial services conglomerate. The agreement will initially cover the U.S


Moves at ExxonMobil Marine Fuels International Team

ExxonMobil Marine Fuels (EMMF) has appointed Ahmed Zaki and Boris Nigbur to its international team based in Leatherhead, near London in the U.K. Ahmed joins from ExxonMobil's local affiliate in Egypt, where he worked in Marine Fuels Business Development. Boris has come from the company's subsidiary in Germany, where he was involved in Marine Sales. Meanwhile, Emmanuel Onillon and Neal Bolton have left EMMF to pursue interests elsewhere


Jurong Shipyard Chooses AVEVA Marine

AVEVA Group plc (LSE:AVV), providers of engineering design and information management solutions for the plant, power and marine industries, announced that Jurong Shipyard, a subsidiary of Sembcorp Marine has selected AVEVA Marine (12 Series) as their engineering and design solution for major marine and offshore projects. Jurong Shipyard has a long standing relationship with AVEVA. AVEVA Marine (12 Series), is the most modern offering of AVEVA’s marine solutions and has the ability


MN 100: Caterpillar Marine

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Neumühlen 9 22763 Hamburg/Germany Tel: (713) 895-1449 Email: cat_power@cat.com Website: www.marine.cat.com Managing Director: Nigel Parkinson The Company: Caterpillar Marine Power Systems brings together all the sales and service activities for Cat and MaK branded marine products within Caterpillar Inc. This organization provides premier marine power solutions and customer service from a single source for the global ocean-going, commercial and pleasure craft markets


First Female Deputy Harbor Master at Port of Durban

Pinky Zungu has again made history with her appointment as Transnet National Ports Authority’s first black female Deputy Harbor Master – Nautical for the Port of Durban. (Photo: Philip Wilson)

One of the first three women in Africa to obtain a Marine Pilot open license in 2011, Pinky Zungu has again made history with her appointment as Transnet National Ports Authority’s first black female Deputy Harbor Master – Nautical for the Port of Durban.  


Cavotec, ABB Partner on Shore-to-ship Power

Photo: Cavotec

Cavotec and ABB have signed a Memorandum of Understanding to jointly offer complete shore-to-ship power solutions globally. Such solutions allow vessels to plug into onshore power supply and shut down their engines, eliminating noxious emissions


MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding existing services along designated Marine Highway Routes.   A Marine Highway Project is a planned service


Mercury Marine Expands Manufacturing Capacity

Photo: Mercury Marine

Mercury Marine is adding a 53,000 square foot manufacturing capacity expansion to its global headquarters in Fond du Lac, Wisc. The expansion will consist of 45,000 square feet of manufacturing capacity and an additional 8,000 square feet of office space


ExxonMobil: 5 Tips on Switching Fuels in ECAs

Photo: ExxonMobil

 ExxonMobil has compiled five ‘top-tips’ to help vessel operators effectively switch fuels when entering and exiting Emission Control Areas (ECAs) without introducing maintenance issues.   ExxonMobil highlights that switching fuels at correct time is key to meeting 0


Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces prolonged uncertainty on contracts from its biggest client, Sete Brasil, whose shareholders have approved its bankruptcy.


Incat Crowther Supplies Crewboat Design, Build Kits

Image: Incat Crowther

Incat Crowther has been awarded a contract with shipbuilder Astinave EP of Guayaquil, Ecuador for the supply of vessel design services and aluminum component kits for a pair of 22.5m monohull crewboats currently under construction for an undisclosed client


FMC's Doyle Acknowledges Progress on Container Weight Rules

William P. Doyle (Photo: FMC)

U.S. Federal Maritime Commissioner William P. Doyle has issued a statement regarding the ongoing discussion on container weight measures, welcoming a recent announcement from OCEMA: “OCEMA's statement on container weighing this evening is welcome news,” Doyle said


German Navy's Third F125 Frigate Christened

Photo: ThyssenKrupp Marine Systems

The German Navy's third F125-class frigate Sachsen-Anhalt was christened in March during a ceremony held at ThyssenKrupp Marine Systems shipyard in Hamburg. Dr. Gabriele Haseloff, wife of the premier of the state of Saxony-Anhalt after which the frigate has been named


Whale-watching Catamaran Repowered by Volvo Penta

Photo: Volvo Penta

When it came time to replace the old engines in his whale-watching vessel, Capt. Joe Nazar chose Volvo Penta and has enjoyed the benefits of improved fuel efficiency, lower emissions, reduced noise levels and better performance ever since.  


This Day In Naval History: April 27

USS Daniel Webster (SSBN 626) was launched April 27, 1963. (Photo from the files of the Vallejo Naval & Historical Museum courtesy of Darryl L. Baker)

1805 - With naval bombardment from USS Nautilus, USS Hornet, and USS Argus, Lt. Presley OBannon leads his Marines to attack Derne, Tripoli, and raises the first U.S. flag over foreign soil. The Battle of Derna was the Marines' first battle on foreign soil


New Tank Barge Delivered to Harley Marine

Fight A.L.S., a tank barge designed by EBDG and built by Vigor Fab, was delivered to Harley Marine Services in February (Photo: EBDG)

The newly built tank barge, the Fight A.L.S., was delivered to Harley Marine Services on February 19, 2016.   Designed by Elliott Bay Design Group (EBDG) and constructed at Vigor Fab in Portland, Ore., the 83,000 bbl tank barge joins Harley’s offshore fleet working the Gulf and East


Hempel’s Fouling Defence Product Hempaguard Applied to 500 Vessels

Image: Hempel

 Leading marine coatings manufacturer, Hempel, announces - after only two and a half years on the market -  its award winning innovative fouling defence product Hempaguard has now been applied as a full vessel coating to 500 ships.   


Dassault Systèmes Congratulates Oz Naval Deal

(image DCNS Group)

Dassault Systèmes Congratulated DCNS and Australian Government on the historic naval Defense Collaboration                      France-based DCNS has been selected by the Commonwealth of Australia as its


Ferry Conference: Technology Drives Vessel Advancements

File image: an Elliott Bay Design Group ferry (EBDG)

On June 2-3, 2016,  the Ferry Safety and Technology Conference will be held in downtown Manhattan.   Throughout the world, the quickening pace of technological advances is impacting all sectors of the maritime business; ferries are no exception






 
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