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Cummins and Mercury Marine to Form Joint Venture
Cummins Marine, a division of Cummins Inc., and Mercury Marine, a division of Brunswick Corporation, announced the formation of a 50/50 joint venture to supply integrated diesel propulsion systems to the worldwide recreational and commercial marine markets. The joint venture, Cummins MerCruiser Diesel Marine LLC, will be headquartered in Charleston, S.C. Under the terms of the agreement, Cummins will supply diesel engines 15 liters and below, including certain electronic displays and other hardware. Mercury Marine will supply the Mercury 1.7 liter, 2.8 liter, 4.2 liter and 7.3 liter diesel engines, drive units for sterndrive applications and their SmartCraft(R) electronic integration hardware. The joint venture aims to become the premier worldwide supplier of integrated diesel marine propulsion units.
Daewoo, NNPC Form Joint Shipping Venture
DSME and the Nigerian National Petroleum Company (NNPC) have signed a Joint Venture Agreement to establish a world class shipping company. The shipping joint venture company will be called Nigeria Daewoo Shipping Ltd. (NIDAS). The scope of NIDAS will be local and international transportation of merchant goods, crude oil and petroleum products. The initial capital of NIDAS will be $10 million. The equity interests of DSME and NNPC in the shipping company will be 49% and 51% respectively
Donjon, Smit Americas form Joint Venture
Marine salvage and response companies Donjon Marine Co., Inc. (Hillside, NJ) and SMIT Americas (Houston, TX) announced a new joint venture known as Donjon-SMIT, An OPA-90 Alliance. This new response organization has been created specifically for compliance and response services as required by the Oil Pollution Act of 1990 (OPA-90). The Joint Venture will begin providing services on December 31, 2004. Donjon and SMIT will continue to provide non-OPA-90 salvage and related services
Eimskip, Containerships and Kursiu Linija form Joint Venture
Shipping and logistics company Eimskip, Lithuania's Kursiu Linija and Finnish shipping and container company Container Finance Ltd have joined forces to create a door-to-door logistics providers. The new joint-venture company Containerships Group will be based in Helsinki and will operate eleven ships on services linking east and west Europe, the Baltic States and Russia. It will be the cornerstone of a much larger alliance including the services of its parent companies.
Wärtsilä, Hyundai form Joint Venture
Wärtsilä and Hyundai Heavy Industries Co. Ltd (HHI) signed an agreement to set up a 50/50-owned joint venture in Korea to manufacture dual-fuel engines for LNG (Liquefied Natural Gas) carriers. The total investment in the company will be EUR 58 million, Wärtsilä's share being EUR 29 million. The name of the company will be Wärtsilä Hyundai Engine Company Ltd and the intended location is in South Korea. The technology shift towards dual-fuel machinery in LNG carriers has significantly
ABS, CSBC Corp., Sign Agreement
Partnership will pioneer technical developments for marine, offshore industries. ABS signed a strategic cooperation agreement with CSBC Corp., Taiwan (CSBC) to support CSBC in vessel and offshore asset construction. The agreement creates an opportunity to form joint development projects in such areas as design optimization, energy efficiency management and design and fabrication of offshore support vessels, bulk carriers, oil tankers, ice-classed vessels and floating production units
Keppel FELS and PEM SETAL form joint venture to sublease Brazilian yard
Keppel FELS Limited (KFELS), the marine and offshore construction, conversion and repair company of the Keppel Group of Singapore has formed a joint venture with the PEM SETAL Group of Brazil to serve the increasing market of oil and gas exploration and production activities in Brazil and in the west coast of Africa. The joint venture company, FELS SETAL, has signed an agreement yesterday to sublease a Brazilian yard currently named Verolme.
STX Finland, USC Announce Arctic Shipbuilding JV
STX Finland Oy and United Shipbuilding Corporation (USC) have formed a joint venture company, which will specialize in arctic shipbuilding technology. An agreement for the formation of the new company, Arctech Helsinki Shipyard Oy, was signed today in in a meeting with the Russian Prime Minister Vladimir Putin and the Finnish Prime Minister Mari Kiviniemi. According to the agreement both founding companies will hold equal shares of Arctech Helsinki Shipyard Oy
Joint Venture Returns from the Gulf
The Incat Tasmania-built ship, HSV-X1 Joint Venture, has arrived back at Hobart, Tasmania, returning from the Persian Gulf in service with U.S. defense forces. As the High Speed Vessel HSV-X1 Joint Venture (Incat hull 050) left Tasmanian waters on the evening of September 11, 2001 (AEST) the towers of the World Trade Center fell in New York. The ship which had been chartered for experimental purposes did participate in a number of
P&O Plans To Tackle German Cruise Market
British shipping group P&O plans to start taking Germans on cruise holidays, citing that market as underdeveloped and with huge growth potential. The company is investing an initial $80.6 million and taking a 51 percent stake in a joint venture cruise company to be formed with privately owned German group Arkona Touristik. The new company, Aida Cruises, will order two new ships to complement the 1,200 berth Aida. P&O has an option to take full control of the venture once the ships are
Centrica Energy Awarded Barents Sea License
Centrica Energy in Norway was awarded a 50% operating share in the Scarecrow licence, its first in the Barents Sea. The Norwegian government on June 12 awarded the licences that form part of the 22nd round on the Norwegian Continental Shelf (NCS)
Today in U.S. Naval History: June 7
Today in U.S. Naval History - June 7 1819 - Lt. John White on merchant ship Franklin, anchored off Vung Tau is first U.S. naval officer to visit Vietnam 1917 - U.S. subchasers arrive at Corfu for anti-submarine patrols 1942 - Battle of Midway ends with loss of USS Yorktown
Next Navy Ship Names Chosen
Secretary of the Navy Ray Mabus has announced the names of the next 3 joint high speed vessels, & 2 littoral combat ships. The next three joint high speed vessels (JHSV) will be named USNS Yuma, USNS Bismarck and USNS Burlington, and two littoral combat ships (LCS) will be named USS Billings
AdvanFort Appoints New Business Development Director
The AdvanFort Company signed on Axel Tuetken, the former country president in Tokyo for Maersk Line and Safmarine, as its business development director in Northern Europe, AdvanFort President William H. Watson said. From Toyko, Tuetken supervised offices in Osaka, Kobe, Yokohama, and Nagoya
ABB Breakthrough for Enhanced Reliability Drillship
ABB, a power and automation technology group, has secured an offshore marine industry contract covering electrical power and propulsion systems onboard a DP class 3 Drill Ship to be conferred with "Enhanced Reliability" and Dynpos Autro notation from Det Norske Veritas(DNV).
Bellzone Sells Superfluous Ship
Bellzone Mining's joint venture Forecariah has sold a trans-shipping vessel for $8.9m (£5.8m). An in-depth analysis into the operational efficiency of the Forecariah operations showed that the ship was neither an operational requirement nor a material economic benefit
MHI Consolidates Marine Engineering Business
Mitsubishi Heavy Industries, Ltd. (MHI) to form a company dedicated to its marine machinery & marine diesel engine business as from October 1, 2013. The new entity, which will be headquartered in Nagasaki and have business bases in Nagasaki, Kobe, and Tokyo, will handle development, design
California Clarifies BWMS Position
Installation or use of an USCG accepted Alternative Management Systems (AMS) does not waive a vessel's requirement to meet the California Code of Regulations ballast discharge performance standards. In accordance with the California Public Resource Code and California Code of Regulations
Construction Begins for Wärtsilä's Joint Venture Company's
Wärtsilä Yuchai Engine Co., Ltd, the joint venture owned 50/50 by Wärtsilä and Yuchai Marine Power Co. Ltd., has begun construction of its new production facilities with a groundbreaking ceremony in Zhuhai City, Guangdong Province of China.
GAC Pushes Further into the Arctic with Polar Logistics Group
GAC Norway AS and Polar Logistics Group ApS (POLOG) formed a strategic partnership to further strengthen GAC's network within the Arctic Circle. The move is the latest stage in the company's Arctic strategy to better serve the region by bringing together organizations and individuals to create
Austal Lays Keel for Fourth U.S. Navy Vessel
Austal held a keel-laying ceremony for the fourth Joint High Speed Vessel Fall River (JHSV 4), one of ten Austal-designed 103-meter U.S. Navy Joint High Speed Vessels under contract with the U.S. Navy. The ship’s sponsor, Diane Bemus Patrick
New Canadian LNG Terminal Becoming Real
Pacific Northwest LNG awards FEED contract, takes next step toward an LNG export terminal island on Lelu Island, near Port Edward. The front-end engineering and design (FEED) contract will see three firms working together to design the terminal and work on feasibility studies in the Port
Subsea 7 Wins GofM Pemex Contract
Subsea 7 S.A. announce a contract award by Pemex to its Mexican joint venture valued at approximately US$90-million. The contract comprises the engineering, fabrication and installation of an 8km pipeline, related risers, two slug catchers (a slug catcher is a storage vessel used to separate oil
'USS Nimitz' Shows the Flag in Korea
The U.S. nuclear-powered aircraft carrier arrives to participate in joint naval drills as part of routine training according to the Combined Forces Command. The 97,000-ton Nimitz, one of the world's largest warships, made a port call at the southeastern port city of Busan for a three-day stay to
Gardline and OceanPact Enter Joint Venture
Gardline Marine Sciences, an independently owned survey group, and OceanPact, a Brazilian oil spill response company, have announced the establishment of a joint venture. The new company is to be called Gardline Marine Sciences do Brasil S