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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


SRH Marine and Setel Powerline Pact for Greek Market

Photo: SRH Marine Electronics

 SRH Marine Electronics SA and SETEL PowerLine Ltd have entered a Reseller and Installation Partner Agreement.    Through this cooperation SRH is able to offer a complete and holistic approach to e-Navigation concept through Setel PowerLine specializing in the design and


Korean Shipbuilder Could Be Liquidated

Photo: STX Offshore & Shipbuilding Co.

 South Korea's STX Offshore & Shipbuilding Co. has filed for receivership, following massive losses that have mounted up over the past two years, says a report in the WSJ.    According to multiple sources from the shipbuilding industry


Harding Sold to Palfinger

Herbert Ortner CEO Palfinger and Styrk Bekkenes CEO Harding Photo Palfinger

The PALFINGER Group has signed today the acquisition of 100 per cent of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group. The seller is the Norwegian private equity fund Herkules. Harding is one of the leading suppliers of lifesaving equipment and lifecycle


Strategic Marine Building Luxury Crewboat

24m Catamaran Passenger Ferry Courtesy Strategic Marine

Strategic Marine announced the kick-off of its first collaboration with PT. Pelayaran Tanjung Kumawa, expecting to deliver an exclusive luxury crewboat in November this year. “The vessel is currently under construction at Strategic Marine’s facility in Vietnam


Tech & Design Solutions for Modern Workboats

“There is a cost implication for owners to comply with IMO Tier 3 and EPA Tier 4 requirements, which is causing an increase in engine prices of about 30 percent regarding Tier 4, which probably results in a five percent increase in total construction costs for U.S.-built tugs. In some countries such as Asia, with low labor costs, total costs can increase by 10 percent.” - Mike Fitzpatrick, President, Robert Allan Limited (Photo: Mike Zeft)

EPA Tier 4 regulations (for engines of 804 hp and higher) and propulsion advancements have many manufacturers and vessel designers changing course to adapt to new requirements and customer demands.   Jensen Maritime is designing a new 110-ft


Tideland Signal Acquires Julius Signal

Tideland Signal Corporation, now part of Xylem, has entered into a definitive agreement to acquire certain assets of Julius Signal, extending the company’s portfolio of marine and offshore aids to navigation offerings.   Julius Signal’s product portfolio includes an array of


Bay Shipbuilding Delivers ATB to Moran

The Barbara Carol Ann Moran ready for christening ceremonies (Photo: Fincantieri Marine Group)

Fincantieri Marine Group’s Fincantieri Bay Shipbuilding (FBS) has delivered the Articulated Tug Barge unit (ATB) Barbara Carol Ann Moran and the 110,000-barrel barge Louisiana to Moran Towing Corporation.   The 5,300-HP, 121-foot vessel is certified ABS Class +A-1 Towing Service, +AMS


Wärtsilä Donates Engine to Texas A&M University

The 8-cylinder Wärtsilä 20 diesel engine donated to Texas A&M Galveston is housed in an engineering lab on the University campus. Photo Wartsila

Wärtsilä has donated an 8-cylinder Wärtsilä 20 engine and generating set, to the Marine Engineering Technology Department at Texas A&M University at Galveston. The donation represents a continuation of Wärtsilä's ongoing industry support programme aimed at helping


Haven Marine Signs Service Contract with Svitzer

Svitzer Bentley undergoing repairs. (Photo: Svitzer)

Haven Marine Services informs it has signed a five year contract with Svitzer which will see the yard service the requirements of Svitzer’s vessels within the Bristol Channel and Irish Sea areas. Haven Marine Services’ Managing Director, Steven Arnold, stated


SAFE Boats Delivers First CIV for Air and Marine Operations

Photo: SAFE Boats International

SAFE Boats International (SBI), a manufacturer of aluminum boats located in Bremerton, Wash., has completed the first Coastal Interceptor Vessel (CIV) on contract from U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO).  


GloMEEP Project Forges Ahead with Train-the-Trainer Workshop

Global train-the-trainer workshop in Progress in China Photo IMO

A global Train-the-Trainer workshop on energy efficiency has been delivered in China (23-27 May), preparing the personnel needed to cascade knowledge on energy efficiency for ships and related efforts for mitigation of greenhouse gas emissions from international shipping.


1,076 Graduate from U.S. Naval Academy

Newly commissioned Navy Ensigns and Marine 2nd Lieutenants from the U.S. Naval Academy Class of 2016 throw their midshipmen covers in the air at the end of their graduation and commissioning ceremony May 27 at the Navy-Marine Corp Memorial Stadium. Photo USN

The U.S. Naval Academy graduated 1,076 men and women at the annual graduation and commissioning ceremony May 27 at Navy-Marine Corps Memorial Stadium. U.S. Naval Academy Superintendent Vice Adm. Ted Carter spoke about the particularly significant achievements of the Class of 2016


Seaspan Acquires Eighth 14000 TEU Vessel

Seaspan Spanning the Ocean Highways Photo Seaspan

Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation, Taiwan ("CSBC") is Seaspan's eighth 14000 TEU SAVER design containership and fourth delivery in 2016.


CBP, AMO Unveils New Interceptor Vessel

New Coastal Interceptor Vessel Photo CBP

U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO) and SAFE Boat International celebrated the unveiling of AMO’s newest coastal interceptor vessel (CIV) Thursday. In honor of AMO’s historical legacy, this first CIV will be named the Alexandria


US Navy Updated Zika Virus Infection Guidance

The aedes albopictus mosquito is the primary carrier for the chikungunya virus, also known as CHIK, in the temperate climates of the United States. While Joint Base Myer-Henderson Hall officials test regularly for the presence of West Nile Virus in local mosquitoes, joint base residents can take a number of preventative steps to help stem mosquito breeding and activity near residences on the joint base. (U.S. Army photo)

Navy Medicine released updated Zika Virus Infection guidance in NAVADMIN 121/16, May 26, communicating current information, travel precautions, and risk reduction measures to Navy and Marine Corps personnel. "The updated NAVADMIN includes the latest Centers for Disease Control and






 
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