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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.

J. Arnold Witte, Sr. (Headshot).jpg

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


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


Orion Marine Wins Caribbean Offshore Mooring Contract

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 Launches Service Center

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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


Cummins Expands Marine Tier 3 Product Line

Image: Cummins

Cummins Inc., a manufacturer of diesel engines and generator sets for the marine industry, has launched a new Onan marine U.S. Environmental Protection Agency (EPA) Tier 3-certified generator, the 55-kW MDDCM. “The expansion of our EPA Tier 3 marine product lineup to 55 kW with the MDDCM


Ice Condition 3 for Delaware Bay

Image of Delaware Bay Credit Wikipedia

The Captain of the Port (COTP), Delaware Bay is notifying mariners that Ice Condition 3 has been set for the Port which includes the Delaware Bay and River, the C&D Canal, Cape May Harbor and Canal, and the ICW. This means that weather conditions are favorable for the formation of ice in


N.America's First LNG Marine Fuel Terminal Opens

Photos courtesy of Harvey Gulf

Harvey Gulf announced the opening of the first marine LNG fueling terminal in North America. Less than a year after the delivery of the M/V Harvey Energy, America’s first LNG-powered vessel, Harvey Gulf accomplished another first when it completed a successful LNG bunkering of the Energy


Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS. The company, already up and running from the main office in Halden, will move to and be operating in Bergen from the second


GTT, DSME Partner for NO96 Max Development

GTT signs a cooperation agreement with Daewoo Shipbuilding & Marine Engineering aiming at the industrialization of its NO96 Max technology   GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG)


Next Generation Marine Power & Propulsion Conference

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The Next Generation Marine Power & Propulsion Conference will be held at the Grand Harbour Hotel, Southampton, U.K. from April 26 to 28, 2016.    This unique event brings together an international group of experts armed with the latest knowledge to highlight the potential


Honda Marine on Display at Miami Boat Show

 Honda Marine is set to market its complete range of outboard marine four-stroke engines at the 2016 Miami International Boat Show, February 11-15, 2016.   At this year’s show, the Honda Marine team will showcase its four-stroke outboard engine, ranging from 2


Danelec Marine Making Free ECDIS Upgrades

Ships with older Danelec ECDIS models are being upgraded to new hardware and software   Danelec Marine has launched a program to provide free upgrades of shipboard Electronic Chart Display and Information Systems (ECDIS) to the latest technology meeting new ECDIS standards.   


Guy Harvey to be Honored by Seafarer's House

Guy Harvey

Guy Harvey – artist, conservationist and entrepreneur – has been selected as this year’s recipient of the Seafarers’ House International Golden Compass Award. The award is given each year to those who have achieved distinction in the maritime world


Shipping Firms Poised to Settle EU Probe

Photo: Mediterranean Shipping Company

 Fifteen container liner shipping companies "have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines," according to a report from Reuters Wednesday that cites two unnamed sources.  


Volvo Penta Debuts Innovative Glass Cockpit

The enhanced Glass Cockpit system brings a range of benefits to customers Photo Volvo Penta

The new generation of Glass Cockpit expands Volvo Penta’s collaboration with Garmin for an advanced monitoring and control system that makes boating easier. And its clever application, which is now available for all sized boats, is being unveiled at the Miami Boat Show.  


OSV Delivered to MC2 in Dubai

Photo courtesy of MC2

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in a special delivery ceremony held at Dubai Maritime City on February 10, 2016. 


Interior Facelift for Queen Mary 2

Photo: McCue Marine

Cunard’s luxurious flagship, the iconic 2,620 passenger ocean liner Queen Mary 2, will undergo an interior refit at the hands of McCue Marine during a 25-day multimillion-pound dry-dock at the Blohm & Voss Shipyard in Hamburg, Germany between May 27 and June 21, 2016.  


James Troop Supplies Engines for 3 Naval Vessels

Bob Troop, chair and managing director James Troop & Co (in hi-vis jacket); Anthony Ward, engine sales executive James Troop & Co (grey suit); and Philip Hilbert, sales director MST (blue suit); seen with one of the new vessels at MSTs construction facility and HQ, at Atlantic Way, Liverpool. (Photo: James Troop)

Liverpool City Region (UK) based ship engine specialist James Troop & Co has won an order to supply Volvo Penta diesel engines for three European naval vessels being built on Merseyside.   James Troop, one of the UK’s major Volvo Penta Centers


Sea IT, Veritas Tankers Ink Long-term Software Deal

Astral (Photo: Sea IT)

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry, and BlueCONNECT, a virtualized software which acts as mail server and carrier controller.  






 
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