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.
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
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
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”).
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
Orion Marine Group, Inc. headquartered in Houston, Texas, announce award of a contract which is worth approximately US$14-million. The contract is for the design and construction of offshore mooring facilities for a liquids terminal in the Caribbean. The project is expected to commence in the 4th quarter and to last approximately 12 months. Orion Marine Group, Inc. provides a broad range of marine construction and specialty services on, over and under the water along the Gulf Coast
Reflex Marine, producer of the industry-leading Frog and Toro personnel carriers and expert in marine personnel transfer, continues to expand its global network of Accredited Service Centres (ASCs) with the launch of its latest Center in Canada. Nord Marine Services Ltd, a supplier of marine safety equipment, has been appointed to operate the new Accredited Service Center in Mount Pearl, Newfoundland. As a result Canadian operators will be able to access local maintenance
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
Mercury Marine announces 45,000 square foot EDP parts expansion to Fond du Lac global headquarters Mercury Marine will add a 45,000 square foot expansion to its electro-deposition paint (EDP) system that will double its current processing capabilities
Construction begins on Crowley’s second Commitment Class, LNG-powered ConRo ship for use in the Puerto Rico trade Shipbuilder VT Halter Marine, Inc. has officially started the construction of Taíno, the second of two liquefied natural gas (LNG)-powered
Shipowners switching to low sulphur content fuels in line with their obligations in Emissions Control Areas (ECAs) have demanded confidence in the cylinder oils specified to lubricate their engines The shipping world has been settling down to new restrictions on sulphur content in fuel
International container shipping company CMA-CGM of France announced that it will begin service within the next couple of weeks to the Helen Delich Bentley Port of Baltimore. The Port of Baltimore has been added to CMA-CGM’s Liberty Solo service which also includes visits to ports
Bordelon Marine has taken delivery of the M/V Shelia Bordelon, its next Stingray 260 DP2, Ultra-Light Intervention Vessel (ULIV). This highly specialized vessel features an NOV 50 ton Active Heave Compensating crane with 3,000 meters of wire
At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides (NOx) values in certain emission control areas (ECAs) will be even more restricted
Belco Technologies Corporation (BELCO), a DuPont company, will introduce the DuPont Marine Scrubber (formerly the BELCO Marine Scrubber) at shipping and maritime exhibition Nor-Shipping in Oslo. James R. Weigand, president, DuPont Sustainable Solutions, said, “Over the last year
A second sea lion rescued from along California's oil-fouled coastline near Santa Barbara has died at SeaWorld San Diego, where veterinarians are still caring for 15 surviving marine mammals brought in for treatment, a spokesman said on Tuesday.
Following on from the incredibly successful 2014 campaign, Sea Shepherd Global launches Operation Siracusa 2015. Led by Sea Shepherd Italia, the campaign aims to defend the fragile ecosystem of the Plemmirio Marine Reserve, off the Eastern coast of Siracusa in Sicily
Evoqua Water Technologies has been awarded a second United States patent on its technical solution for treating ballast water. This latest patent was granted by the United States Patent and Trademark Office on the 3rd of March, 2015.
Masterbulk Singapore has entered into a five-year global sole service supplier agreement with the Wallem Group’s lifeboat maintenance service company, SeaSafe Marine. The agreement is for lifeboat services on Masterbulk’s fleet of 20 open hatch gantry crane vessels.
Manchester cable safety seal manufacturer Roxtec has reported increased demand for its cruise ship cable and pipe seals. The firm has seen a 67 percent rise in sales for its watertight pipe and cable seals in the U.K. marine market in the last 12 months.
Meridian’s counter-piracy teams may now operate aboard vessels flying the Panama flag, following a vetting process that validated the quality of the US-based private maritime security company. The final decision was made this week by the Panama Maritime Authority
Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines. “Mercury Marine’s 2.0 diesel engines are ideal for smaller vessels such as the Coast Guard Cutter Boat ATON Medium
Europe’s commercial marine and workboat exhibition held in a working port, Seawork International, has released its plans for demonstrations, launches and conferences. Organizers say Voith will announce a new marine propulsion system that produces more thrust