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Joint Venture

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 exercises and experiments but quite quickly went into service in the War against Terrorism. Joint Venture has excelled during her deployment in the Persian Gulf in support of Operation Iraqi Freedom. Just hours after Operation Iraqi Freedom began, Joint Venture sped into the shallow Persian Gulf waters near the southern Iraqi port of Umm Qasr, acting as an afloat forward staging base for Marine Fleet Anti-Terrorism Security Teams and Navy SEAL commandos. On board with the Joint Venture Navy crew is another US Navy team who will form a second crew for HSV 2 Swift. The Navy crew joined the vessel in the Middle East for the trip to Hobart as a familiarization and training run for their forthcoming high speed service on Swift. Joint Venture returns to the shipyard at Hobart for a brief period of scheduled maintenance. Arriving under US Navy control on August 14, the ship will be handed over to the US Army during the course of the maintenance period.


Oil & Natural Gas Corporation Ltd. (ONGC) and Shipping Corporation of Indian (SCI) have entered into a memorandum of understanding (MoU) for setting up a joint venture company called Offshore Marine Services Ltd (OMSL). The joint venture company will provide end-to-end solutions for vessel operations for ONGC and other oil and gas companies. It will also develop capabilities for acquisition, repair and maintenance of offshore floating units and undertake repair and construction on long-term

Houston Exploration and El Paso Announce Joint Offshore Exploration Drilling Program

The Houston Exploration Company and El Paso Production Company, a subsidiary of El Paso Corporation, announced that they have executed a letter of intent to conduct an exploration drilling joint venture in the Gulf of Mexico. Under the terms of the agreement, El Paso will contribute up to $50 million for land, seismic and drilling expenditures and pay 100 percent of the dry hole costs to earn 50 percent of Houston Exploration's working interest in up to six specified exploration wells to be

Transocean Forms JV for Two Drillships

Transocean Inc. announced that a subsidiary has exercised its option to purchase a 50 percent interest in a joint venture company with Pacific Drilling Limited. The joint venture company will own two ultra-deepwater Samsung-design drillships that are currently under construction in South Korea. Under the terms of an exclusive marketing agreement, the subsidiary has secured a long-term drilling commitment for the first joint venture drillship.

Wärtsilä's JV with CSSC to Expands Engines Range

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co. Ltd factory will be located at Lingang, Shanghai and is expected to have its first engine ready for delivery by the end of 2015. The company will in particular target the growing offshore and LNG markets

Shell Sells Elba Liquefaction Project Interest to Kinder Morgan

Image:  Kinder Morgan

 Kinder Morgan Inc. will buy out Royal Dutch Shell PLC’s interest in their proposed Elba Liquefaction Co. (ELC ) joint venture in Georgia.   Houston-based Kinder Morgan already owns 51% of the ELC joint venture. The firm said it would buy the 49 percent stake that it does not already own in the natural gas joint venture and it raised its dividend.   ELC owns the Elba Liquefaction Project, which is proposed to be constructed and operated at the existing Elba Island LNG

NNPC, Daewoo in Joint Venture

After over five decades of its involvement in crude oil and gas exploration without involving in crude oil transportation, the Nigerian National Petroleum Corporation (NNPC), has signed a joint venture agreement with Daewoo Ship-building and Marine Engineering (DSME) of South Korea, to establish a world class shipping company which will be involved in crude oil transportation. Already, $10 million has been released as the initial capital for the joint venture business

VT Group and BAE Systems Establish JV

VT Group plc announced that it has entered into a Framework Agreement with BAE Systems plc to establish a joint venture intended to create a provider of naval ships and associated through-life support. It is intended that the joint venture will comprise the following businesses on completion of the JV transaction: VT’s surface warship building and through-life support operations; each of VT’s and BAE Systems’ 50 per cent

OSX Will Construct PLSV for New Client

OSX was hired by Sapura Navegação Marítima S/A for the construction of one PLSV (Pipe-Laying Support Vessel), for a total amount of approximately US$ 263 million, to be built and delivered by OSX at the Açu Shipbuilding Unit, in the north of the State of Rio de Janeiro. A PLSV is used for laying and installing flexible pipelines on the seabed. Sapura is a wholly-owned subsidiary of Seabras Sapura Participações S/A

Exmar NV and Teekay LNG Partners Complete Joint-Venture

Exmar NV (NYSE Euronext: EXM) is pleased to announce that together with  Teekay LNG Partners L.P. (NYSE: TGP) they have successfully closed their 50/50 LPG joint-venture. The Exmar LPG BVBA joint-venture controls 15 owned Midsize Gas Carriers (MGC), out of which 4 are currently under construction at Hyundai Mipo, and one owned Very Large Gas Carrier (VLGC). Exmar LPG BVBA also time-charters in three MGCs and two VLGCs (33.33% share) and bareboat-charters in one MGC and one VLGC.

PGS : Building Further Success in Newfoundland, Labrador

PGS 2D and 3D surveys in Eastern Canada

  PGS has recently completed the fifth consecutive acquisition season offshore Newfoundland and Labrador as part of the ongoing joint venture (JV) with TGS. The successful 2015 season was the biggest yet with PGS operating four vessels, two 3D and two 2D vessels

Georgia, South Carolina Ports Advance Joint Venture

The Georgia and South Carolina Ports Authorities have signed a new joint venture agreement that provides framework for the two states to work cooperatively toward the development of the Jasper Ocean Terminal (JOT), which will be jointly owned and operated by both port authorities.  

P&O Maritime Rebranded Repasa

Vessels from the Repasa fleet in action. Courtesy DP World

  P&O Maritime has announced the rebranding of its joint venture company Repasa, the Spanish operator of offshore support vessels for the energy industry.   P&O Repasa will become the official brand of the joint venture which has expanded its fleet in the offshore towage

Swan Energy to Invest $845 mln for FSRU Terminal

Image by Swan Energy Limited

 Swan Energy Limited will invest around Rs. 5,600 crore ($845 mln) towards setting up of Jafrabad LNG Port project in Gujarat with one jetty-moored Floating, Storage and Regasification Unit (FSRU).   The joint venture project by Swan Energy Limited (SEL) and its Belgium partner Exmar

Carnival Confirms Chinese JV Cruise

Photo: Carnival Corporation & plc

 In an industry first, the Miami-based  Carnival Corp. will develop a multi-ship domestic Chinese cruise brand with Chinese partners.    Carnival, the world’s largest cruise company, formed a joint venture with China State Shipbuilding Corp

First Warehouse at Caucedo Logistics Center Opened

President of the Dominican Republic Danilo Medina Sanchez and DP World Chairman HE Sultan Ahmed Bin Sulayem at the official opening of the first warehouse at the Caucedo Logistics Centre in the Dominican Republic.

  The first warehouse at the Caucedo Logistics Centre has been officially opened at a special ceremony in the Dominican Republic by President Danilo Medina Sanchez and HE Sultan Ahmed Bin Sulayem, Chairman of DP World.   The Caucedo Logistics Centre is a joint venture between DP World

FSP LNG Containment System Construction To Begin Soon

Chairman Zhang Mi

  The joint venture group FSP LNG BV stated that it is taking the FSP LNG Flat Panel Semi-membrane Prismatic Type B containment system through General Design Approval (GDA) with the American Bureau of Shipping in Houston, and is projecting that construction of the first tank will begin at

Wärtsilä JV Breaks Ground in China

Picture at the groundbreaking ceremony, Roger Holm, Senior Vice President, Engines, Wärtsilä Marine Solutions and Wu Qiang, President of CSSC, in the middle. (Photo: Wärtsilä)

CSSC Wärtsilä Engine (Shanghai) Co. Ltd (CWEC) celebrated the beginning of construction on its new 20,000 sq.m. factory with a groundbreaking ceremony on October 28 in Lingang, Shanghai.   Following the groundbreaking ceremony

Boskalis JV Wins Galloper Offshore Wind Farm Contract

VBMS wins  cable-laying joint venture

Royal Boskalis Westminster N.V. announces that VBMS, its strategic cable-laying joint venture with VolkerWessels, has been awarded two contracts by Galloper Wind Farm Ltd. for the Galloper Offshore Wind Farm. The total value of the contracts to VBMS is approximately EUR 200 million

Huge Saudi Sadara Project Signs Deals for Storage, Port Services

King Fahd Industrial Port

  Saudi Arabia's Sadara Basic Services, fully owned by Sadara Chemical Co, has signed agreements covering storage facilities and port services, it said on Sunday as the firm prepares to start producing petrochemicals by the end of this year.

Ferry Firm Bags Contract for MoD Port

Image: CalMac Ferries Limited

 David MacBrayne Ltd (DML) and global logistics firm GBA (Holdings) Ltd, operating as Solent Gateway Ltd, have won a contract to run one of the UK’s busiest military ports as part of a joint venture.   The Gourock-based firm has been awarded a 35-year deal to manage military

Swiss Shipping Line and ACC Annouce Blue Alliance Shipping

Logo by Blue Alliance Shipping

 Swiss Shipping Line and Africa Car Carrier announce the starting up of their joint venture company under the name "Blue Alliance Shipping."   Blue Alliance Shipping pools resources and many years of experience of the founding companies which combine their activities in the

APM Terminals Pact with Qingdao Port

Left to right: Standing:  APM Terminals CEO Kim Fejfer and Qingdao Port Group Chairman Zheng. Seated: APM Terminals CFO Henrik Lundgaard Pedersen and Wang, Head of Business Development for Qingdao Port Group. Photo: APM Terminals

 Leaders from Qingdao Port Group met with APM Terminals executives in The Hague to sign a Memorandum of Understanding (MOU) for the APM Terminals Vado, Italy port project.    Terms and investment amount were not disclosed. The MOU will create a new joint venture to invest in and

Wärtsilä Propulsion for LNG Bunker Vessel

The Wärtsilä 34DF engine

A new 5,800-cubic-meter LNG bunker and feeder vessel, being built for Sirius Veder Gas AB at Royal Bodewes, Hoogezand, in the Netherlands, will be powered by a Wärtsilä propulsion solution. Wärtsilä, who received the contract in September

Svitzer Asia Formers Towage JV in Qingdao Port

 Qingdao Port International Co., Ltd and Svitzer Asia last signed a joint venture agreement last week in an effort to pool resources for future growth, establishing Qingdao Port Svitzer Towage Ltd to operate and manage towage services in the port.  

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