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 joint venture, financing and other key terms. As part of the new MOA, Carnival Corporation’s cruise joint venture in China agreed to order two new cruise ships to be built by a newly formed China-based shipbuilding joint venture between China’s largest shipbuilder, China State Shipbuilding Corporation (CSSC), and Italy-based Fincantieri S.p.A., the world’s largest cruise shipbuilding company. The MOA also grants Carnival Corporation’s cruise joint venture the option to order two additional China-built cruise ships. Carnival Corporation’s cruise joint venture in China will operate the new ships as part of its plans to launch the first multi-ship domestic cruise brand in China. Based on Carnival Corporation’s Vista-class platform, the design for the new ships will be tailored for the new Chinese cruise brand and the specific tastes of Chinese travelers. The first of these ships is expected for delivery in 2022. The partners signed the memorandum of agreement at a signing ceremony held today at the 11th annual China Cruise Shipping and International Cruise Expo (CCS11) in Tianjin, China.
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
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
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
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.
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
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
Rosneft and BP announce the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation. Final binding agreements for the new joint venture were signed at the XX St. Petersburg International Economic Forum (SPIEF) in June 2016. The joint venture will focus on the onshore exploration of two Areas of Mutual Interest (AMIs) in the West Siberian and
Aulong Shipbuilding, a joint venture company formed by Austal Limited and Guandong Jianglong Shipbuilding of Zhuhai, China, has won the first ferry contract to build a 42 metre high speed aluminium ferry for Chinese mainland operator Blue Sea Jet. Less than two months after the announcement of the joint venture, Aulong Shipbuilding has been awarded a A$10 million (RMB49.99 million) contract to design and build the ferry.
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
The CMA CGM Group and PSA have kicked off the second phase of their container terminal joint venture in Singapore. Officiating the event were François Hollande, President of the French Republic, and Khaw Boon Wan, Coordinating Minister for Infrastructure and Minister
Rolls-Royce and the Technology Center for Offshore and Marine, Singapore (TCOMS) have signed a Memorandum of Understanding to form a strategic partnership to develop smart ship technologies. The partners will work on world leading research to develop fundamental technologies
The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines. Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK)
Port of Rotterdam signs a ‘memorandum of understanding’ (MoU) with the State Government of Ceará with the purpose to jointly study a potential cooperation. This may lead to the joint venture Industrial Port Complex of Pecém.
Empresa Moçambicana de Dragagens E.P. has recently formed some of its maritime people so that they are trained according to the standards and requirements of the International Maritime Organization (IMO) and STCW Convention (Convention – Standards of Training
Specialist offshore contractor Seaway Heavy Lifting, a 50/50 joint venture between Subsea 7 S.A. and K&S Baltic Offshore (Cyprus) Limited, is now a wholly-owned subsidiary of Subsea 7. Subsea 7 said it acquired the remaining 50 percent shareholding in Seaway Heavy Lifting Holding
The newly built offshore construction vessel Island Venture features three SCHOTTEL Combi Drives of type SCD 710 (formerly SCD 3040) in the Rudderpropeller version with an input power of 3,300 kW each, giving the multifunctional vessel increased maneuverability for a wide range of applications.
Kongsberg, ThyssenKrupp Marine Systems GmbH(TKMS) and Atlas Elektronik enter into a comprehensive teaming agreement for submarines. The companies join resources and establish a joint venture company in Norway that will be the international strategic and exclusive supplier of combat
Technology group Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed a new joint venture company agreement. The new joint venture, to be known as CSSC Wärtsilä Electrical & Automation Co Ltd (CWE&A)
The US Department of Justice has approved the establishment of G2 Ocean. Authorities in Poland, Germany and Brazil have already approved G2 Ocean. This means the joint venture between Gearbulk and Grieg Star is a vital step closer to reality
COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut
Singapore Technologies Engineering Ltd (ST Engineering) announced that Hovertrans Solutions Pte. Ltd. (Hovertrans Solutions), a subsidiary of Singapore Technologies Marine Ltd (ST Marine) has been placed under members’ voluntary winding up pursuant to Section 290(1)(b) of the Companies Act
Marlink has signed an agreement to enter into a joint venture with the satellite connectivity business of Greece and Cyprus based TNL Group, enabling it to launch a brand new maritime satellite communications expert, Marlink CG. Delivering a wide portfolio of innovative Marlink VSAT (Very Small
Rigid inflatable boat (RIB) manufacturer RIBCRAFT has delivered a RIBCRAFT 6.5 to the Pender County Sheriff. Located on the Atlantic Ocean in the southeastern part of North Carolina, Pender County Sheriff formed a joint venture with the County Rescue Squad to provide on water enforcement
Estuary Services Limited (ESL), a joint venture between the Port of London Authority (PLA) and Peel Ports London Medway, is continuing its fleet replacement plan and buying another new pilot boat for its pilot transfer operations serving the ports of London and Medway.