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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


IRISL Looks West with New Vessels

Image: Islamic Republic of Iran Shipping Lines

 The Islamic Republic of Iran Shipping Lines (IRISL) plans to become one of the world's top ten shipping lines. It plans to modernize its fleet and ally with international shipping majors to tap western markets , reports WSJ.   Mohammad Saeidi, chairman of IRISL said that his company is planning a massive fleet expansion. It aims to re-enter western markets as Tehran exits a long period of sanctions that barred its vessels from calling at European and U.S


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


Seismic Cooperation in Barents Sea Gives New Perspectives

Ramform Explorer was one of the seismic vessels used in the joint seismic acquisition project . (Photo Petroleum Geo-Services)

  Statoil and its partners have completed their joint seismic acquisition project in the south-eastern Barents Sea. New forms of cooperation have ensured resource-efficient acquisition. “We are pleased to have found a form of cooperation that has ensured good quality data sets and low acquisition costs. This warrants rethinking and exploring new business approaches and forms of cooperation in order to reduce costs and work more efficiently also elsewhere,” says Jan Helgesen


Carnival Signs MOA for First New Cruise Ships Built in China

Photo: Carnival

Carnival Corporation & plc has announced that its cruise joint venture in China has signed a non-binding memorandum of agreement (MOA) to order the industry’s first new cruise ships built in China for the Chinese market. The MOA is subject to several conditions including closing of the


Alaska, ConocoPhillips Eye JV to Market LNG

Image: Alaska LNG Project LLC

The state-owned Alaska Gasline Development Corp. (AGDC), and ConocoPhillips Alaska Inc. have executed a memorandum of understanding (MOU) to form a joint venture company (JV) to market liquefied natural gas (LNG) from the Alaska LNG project.  


Fincantieri, CSSC Ink Chinese Cruise Ship Deal

Courtesy Fincantieri

During the 11th annual “China Cruise Shipping and International Cruise Expo”, which started today in Tianjin, Fincantieri and China State Shipbuilding Corporation (CSSC), signed a non-binding agreement with Carnival Corporation and CIC Capital Corporation (CIC Capital) for the


Helicopter Carrier Delivered to the Egyptian Navy

LHD Anwar El Sadat (Photo: DCNS)

French industrial group DCNS has delivered LHD (Landing Helicopter Dock) Anwar El Sadat, the second of two helicopter carriers acquired by the Arab Republic of Egypt.   The flag transfer ceremony took place September 16, 2016 in the presence of the two Chiefs of Staff of the Egyptian and


Partnership Yields Next-gen Versatile Workboats

Image: AMC

Naval Architect John Kecsmar of Ad Hoc Marine Designs is now working with Aluminium Marine Consultants (AMC) to offer a range of uniquely designed, versatile SWATH workboats.   Kecsmar possesses many decades of experience working and designing in shipyards in all things high-speed and is a


MN100: Jagco Industries

(Photo: Jagco Industries)

The Company: Jagco Industries is a manufacturer of Flexible metal hose assemblies for automotive, Inland Marine, industrial, trucking & Rail. It also manufactures “UNI-FLEX” exhaust couplers for cars & trucks. More familiar to workboat clients


China, Russia Begin South China Sea Drills

Photos: Russian Navy

 China and Russia began week-long joint naval exercises in the South China Sea today. It is the  first-ever South China Sea iteration of Beijing and Moscow Joint Sea exercises.   The Joint Sea-2016 exercises between the two countries will involve surface ships, submarines


Gorgon LNG Cargo Arrives Japan

Photo: Chevron Corporation

 Tokyo Gas Co has received its first liquefied natural gas (LNG) cargo from Chevron Corp's $54 billion Gorgon export facility in Australia, reports Reuters.   The "Energy Confidence" vessel carrying about 70,000 tonnes of LNG arrived on Saturday at the company's Ohgishima LNG


GAC, Forth Join Forces to offer Mooring, Terminal Solutions

GAC Herman Jorgensen and FLMS sign the deal

GAC UK and Forth Logistics Marine Services (FLMS) have formed a partnership to provide mooring and related terminal services around the UK. Formed on the back of a long term contract in the River Forth with an oil major to be announced later in the year


Controversy on Hyundai Joining 2M Alliance

Photo: Hyundai Merchant Marine Co.

 The world’s largest shipping alliance 2M partners - Maersk Line and Mediterranean Shipping Co  (MSC) -  have been quick to offer shippers an alternate service on the transpacific trade in the wake of Hanjin Shipping’s collapse.  


Wilhelmsen and Wallenius to Merge

Courtesy Wilhelmsen

Wilhelmsen and Wallenius have signed a letter of intent to establish a new ownership structure for their jointly owned investments. The new entity, Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies between the joint ventures.


India to Revive Irano Hind Shipping Company

Photo: Shipping Corporation of India

 India's government owned Shipping Corp. of India Ltd (SCI) plans to revive a 40-year-old joint venture with an Iranian company after a gap of 4 years, reports Bloomberg.   The recent removal of anti-Tehran sanctions opened the way for resuscitating Irano Hind Shipping Co


Privinvest Forms Shipbuilding JV in Angola

Privinvest forms joint venture for shipbuilding and the maritime economy in Angola where, together with Simportex, it will develop and operate a shipyard   Middle East based shipbuilding group Privinvest announced the start of a major shipbuilding and maritime economy program with the


Japanese Yards Mull Shipbuilding Alliance

Photo: MHI

Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump.   Mitsubishi Heavy Industries, Ltd. (MHI) announced in a press release today that it has entered talks with Imabari Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd


Jt Study by MOL, Yokohama University for Improving Ocean Shipping Market Forecast

MOL H.O.

 Mitsui O.S.K. Lines, Ltd. today announced that the company and its subsidiary MOL Information Systems, Ltd. have signed a contract with Yokohama National University to conduct a joint study on the analysis and use of big data related to ocean shipping.






 
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