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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


Braemar Hosts Insurance Experts

Falmouth

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization course in Falmouth designed to introduce participants to the technical aspects of marine surveying, investigating


Class NK Eyes Singapore Renewable Energy Facility

Representatives from each organization sign feasibility study MOU

ClassNK has launched a feasibility study for a new marine renewable energy testing facility to be built in Singapore.   The announcement was made at the 2014 Asian Clean Energy Summit held in Singapore on 28-29 October 2014. The study will pave the way for the establishment of the


GAC Starts Hull Cleaning Op'ns in Oman

HullWiper in Oman 400

GAC EnvironHull hull cleaning operations using the brush-and-diver-free HullWiper system starting at the port of Sohar, just outside the Gulf of Hormuz. This latest expansion adds Oman to the growing GAC EnvironHull network which already covers Dubai, Fujairah and Sharjah in the UAE


Ship Emissions: Chevron Lube Gains Key Approval

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A new Chevron Marine Lubricants 100 BN cylinder oil, which is designed to offer ship owners the ability to achieve the latest emissions legislation, has received full sign off from a key engine maker.  Chevron Marine Products LLC launched its Taro Special HT 100 lubricant earlier this year


Goltens Opens Houston Service Facility

Goltens new facility in Houston (Photo: Goltens Worldwide)

Goltens Worldwide today announced the opening of its new full service facility located within two miles from the Port of Houston. Following months of planning and machinery and equipment installation, Goltens full service repair facility is operational and ready to support customer requirements


Oshima-built Grain Carrier Delivered in the US

Newly developed bulk carrier with MALS (Photo: MHI)

Today the first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI) was delivered to Archer Daniels Midland Company (ADM) of the U.S., following its completion at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner.


Miko Marine Launches US Subsidiary

Photo: Miko Marine

Miko Marine AS has opened a subsidiary in Morgan City, La. from where it will be able to supply ship operators and salvage companies throughout the United States with its range of products, including its magnetic patches to prevent ships from sinking.


SMC to Provide Marine Coordination for Siemens

Photo courtesy of Siemens

Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project. The Butendiek offshore wind farm in the North Sea began construction in early 2014, and is due for completion mid-2015


L-3 MSI Supplies Navigation for the Oasis Class

Oasis of the Seas (Photo courtesy of Royal Caribbean International)

L-3 Marine Systems International (L-3 MSI) has been awarded a contract to provide its NACOS Platinum navigation system, including an integrated dynamic positioning system, for the third ship in Royal Caribbean International’s (RCI) Oasis class


'Environmental' Hull Cleaning Ops OK'd in Oman

HullWiper ROV

Oman’s Ministry of Environment and Climate Affairs has granted GAC EnvironHull permission to conduct underwater hull cleaning operations using the brush-and-diver-free HullWiper system at the port of Sohar, just outside the Gulf of Hormuz


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Aquarius MAS with Marine Solar Power Installed on Delos

Aquarius MAS CPUAGU being installed on Delos

 Eco Marine Power together with strategic partners has installed an Aquarius Management & Automation System (MAS) integrated with a marine solar panel array on-board the Blue Star 'Delos'. The Aquarius MAS has been installed as part of a joint renewable energy project with Blue Star


Maersk Interceptor Named in Norway

Maersk Interceptor

  In a ceremony held at GMC Marine Partners yard in Mekjarvik in Norway, Mrs. Anita Utseth, Senior Vice President in Det norske oljeselskab ASA (Det norske) had the honour of naming the ultra harsh environment jack-up rig Maersk Interceptor.


USCG Suspends Search for the 2 Migrants

In total, 11 lives were saved by Coast Guard and partner agency rescue crews. Search and rescue crews completed 27 search patterns covering approximately 3,145 square miles over a 55 hour period.

  The Coast Guard suspended its search Wednesday at 3 p.m. for two missing Cuban migrants in the vicinity of Caesar Creek, Florida, to Haulover Inlet, Florida.   "Our Coast Guard men and women worked tirelessly looking for the two missing Cuban migrants; however


Kirby Corp. Announces Record 3Q Results

Kirby CEO Joe Pyne (Photo: Greg Trauthwein)

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30






 
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