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.
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”).
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
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
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 Associations (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
100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812 Email: firstname.lastname@example.org 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
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
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
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
Neumühlen 9 22763 Hamburg/Germany Tel: (713) 895-1449 Email: email@example.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
Conrad Shipyard has formed a new business unit focused on LNG projects. Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery, said it continues to actively pursue other LNG opportunities, including developing designs for additional transport barges
The United Kingdom has become the first State to formally accept the 2013 marine geoengineering amendments to the 1996 “London Protocol”, the treaty covering dumping of wastes at sea. The amendments support the precautionary approach by providing for specific
The Marine Advisory Council has met to discuss the best ways to continue leading the march to excellence pursued by the Dubai Maritime Authority in upgrading the components of Dubai’s maritime sector. The council during the meeting, its fourth since its establishment in2014
The U.S. Navy Blue Angels will return to its 2016 demonstration schedule July 2-4 in Traverse City, Mich., Commander, Naval Air Forces announced. The Blue Angels temporarily stood down, canceling three weekend shows following a crash on June 2 during a practice in Smyrna, Tenn
At SMM 2016, Alfa Laval will mark the 100th anniversary of its first marine separator, and present marine customers with more new solutions. Over the course of a century, Alfa Laval has provided solutions for a whole spectrum of marine challenges – aimed at improving
Tidal power is moving beyond the prototype stage for state-backed French naval shipbuilder DCNS, which is targeting a billion euros in sales from the technology in the next decade. DCNS, which is 35 percent owned by defence group Thales and 64 percent by the French state
The Dennis & Phyllis Washington Foundation, in conjunction with Seaspan, announced today a multi-year, multimillion dollar investment in the future of British Columbia’s marine industrial sector. The commitment totals $2.9 million and includes a three-year, $900
Mercury Marine’s family of SeaPro FourStroke outboard engines is suited for high-hour applications and harsh environments, according to the manufacturer, who said the engines are gaining popularity within the commercial marketplace.
Judges describe world’s first renewable energy-powered vessel technology as “unlike anything else and…truly innovative” Norsepower Oy Ltd., the developer of the world’s first renewable energy-powered vessel technology
Evergreen Group vice chairman Bronson Hsieh has been appointed chairman of rival Taiwan carrier Yang Ming Marine. Yang Ming Marine Transport, the nation’s second-largest container shipper in terms of fleet size, approved Hsieh’s appointment, reports said.
The first dual-fuel two-stroke engine employing the low-pressure X-DF gas admission technology developed by Winterthur Gas & Diesel (WinGD) has passed the final milestone in its evolution from a technical concept to commercial operation as a marine main engine.
Grovfjord Mek. Verksted AS (GMV) has selected Corvus Energy as the supplier of the lithium ion based energy storage system (ESS) for a fish farm support vessel called GMV ZERO. GMV will utilize Corvus’ next generation Orca Energy ESS to support the vessel’s entire energy requirements
The United Seamen's Service (USS) 2016 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Arthur E. Imperatore, Founder and President of New York Waterways; Donald Marcus, President of the International Organization of Masters, Mates & Pilots; and Christopher Wiernicki
Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), has held the Interim Acceptance ceremony for the Patrol Vessel (PV) RNOV Khasab. This is the final, in a series of four vessels
The United Kingdom has become the first state to formally accept the 2013 marine geoengineering amendments to the 1996 “London Protocol”, the treaty covering dumping of wastes at sea. The amendments support the precautionary approach by providing for specific marine