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.
100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812 Email: email@example.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
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”).
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
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
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 Associations (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
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
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
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
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
DP World is pleased to announce the appointment of His Excellency Sultan Ahmed bin Sulayem as Group Chairman and Chief Executive Officer with immediate effect. His Excellency became Chairman of DP World in May 2007 and has overseen DP World's expansion
VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co. Inc. Measuring 130 feet by 38 feet by 22 feet, the M/V Morton S. Bouchard Jr
New Damen-built vessel for Maersk Supply Service to undertake long-term charter with DeepOcean A newbuild DP2 cable installation vessel, Maersk Connector, was handed over from Damen Shipyards Group to Maersk Supply Service on February 4, 2016
Honda Marine, a division of American Honda Motor Co., Inc. and marketer of a complete range of outboard marine 4-stroke engines, announced today a new OEM agreement with BRIG USA. BRIG Boats (www.brig-ribs.com) is a manufacturer of foldable and rigid inflatable boats (RIBs) for every budget
Underwater sound pollution disrupts the communication methods of killer whales and could harm their ability to locate salmon, researchers have found. Increasing ship traffic is raising the level of underwater pollution and threatening a range of endangered marine species.
Webb Institute’s Campaign Cabinet, led by President Keith Michel ’73 and Campaign Chair Joseph Cuneo ’57 announced that $28 million (70 percent) of the $40 million goal has been raised to date in the Campaign for Webb.
The newly built M/V Dan Reeves was commissioned in January of 2016 for the United States Army Corps of Engineers (USACE) Little Rock District. Built by Horizon Shipbuilding, Inc., Bayou La Batre, Ala., overseen by the USACE Marine Design
Sea Machines Robotics of Cambridge, Mass. announced the release of its Autonomous Control System (ACS), an advanced vessel control system which converts manually piloted hulls to self-piloted Unmanned Surface Vessels (USVs). It is designed to be integrated into company-developed Sea Machine USVs
Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, has been contracted by Gas Entec Co. Ltd to provide an engineering study of a new-build LNG barge that will operate offshore the U.S. The contract value is undisclosed.
Briggs Marine and Environmental Services, the Fife, Scotland-based leading supplier of offshore services, has ordered a Damen Multi Cat 2712. One of the largest models in Damen’s extensive Multi Cat range, the 27-metre 2712 is a versatile workboat capable of taking on almost any
ABS has published Guidance Notes on the Application of Cybersecurity Principles to Marine and Offshore Operations. This cybersecurity guidance note is the first volume in the ABS CyberSafety series, and provides best practices for cybersecurity as a foundational element of overall safety
A Chinese container ship that is one of the world's largest has run aground on the river Elbe near Germany's largest port Hamburg but shipping to the harbour continues as normal, German marine police said on Thursday. The stricken vessel is the CSCL Indian Ocean of Chinese shipping
Crowley Maritime Corporation’s tanker escort and docking services group in Valdez is celebrating over seven million man hours and more than six years since logging its last Lost Time Injury (LTI). In addition to this remarkable number
DNV GL has completed several tests using drones to support hull surveys of vessels. Using drones to visually check the condition of remote structural components has the potential to significantly reduce survey times and staging costs, while at the same time improving safety for the surveyors
Sloane to oversee operations in Europe, the Middle East and Africa as Resolve Marine Group expands global response presence Senior Salvage Master Nick Sloane has joined the senior management team at Resolve Marine Group., aiming to help guide the global growth of the marine services