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: firstname.lastname@example.org 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
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
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
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
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
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
Coldharbour Marine Ltd. has appointed Professor Bruno Pollet to head its R&D department. Bruno Pollet moves to Linby, Nottinghamshire from the University of the Western Cape, Cape Town, South Africa where he was Professor of Energy Materials and Systems and Director of the National
The Vane Brothers Company, a marine transportation provider headquartered in Baltimore, has taken delivery of Kings Point, the latest in a wave of Maryland-built tugboats. Constructed under the supervision of Vane Senior Port Captain Jim Demske
Ferguson Marine in Port Glasgow, Scotland has invested in a comprehensive package of SSI products. Ferguson has chosen to implement almost every ShipConstructor product including: Hull, Structure, MarineDrafting, WeldManagement, ManualNest, AutomaticNest, ProfileNest, NC-Pyros, Pipe
A 621-foot bulk carrier ran aground near Wellesley Island in the St. Lawrence River, Monday. The U.S. Coast Guard (USCG) is responding. The Bahamian-flagged motor vessel Juno is aground in the vicinity of Wellesley Island, in the St
Classification society ClassNK promoted the activities of its new Global Research and Innovation Center (GRIC) at a press conference held today in Singapore. Joined by representatives from Nanyang Technological University, ClassNK Executive Vice President Tetsuya Kinoshita explained the
On 17 January 1955, Commander Eugene P. Wilkinson, USN, the first Commanding Officer of USS Nautilus (SSN 571) signaled the memorable and historic message “Underway on nuclear power.” Underway on LNG has an opportunity to signal an equally significant change in the merchant
ABS named Howard Fireman as Senior Vice President and Chief Technology Officer (CTO) effective April 20 in a move that strengthens alignment and generates further synergies across all of ABS' technical programs, ABS announced. Fireman, who will report to ABS Chairman and CEO Christopher J
Jenny Gethings has been named vice president of business development at Seaspan Marine, the company announced. Gethings will lead Seaspan’s business development team as it continues to pursue new business, identify new markets and develop current and future opportunities for its
‘Fideicomiso de Formación y Capacitación para el Personal de la Marina Mercante Nacional’ (FIDENA), on behalf of Mexico’s Secretariat of Communications and Transportation (SCT) has selected Kongsberg Maritime offshore simulators for the Marine Education Center in
Southern African Shipyards (SAS) has entered into a Memorandum of Understanding (MOU) with China Shipbuilding Trading Company (CSTC), a subsidiary of China State Shipbuilding Corporation, in a union between the largest shipyard in Southern Africa and the largest shipbuilding group in the world.
ABS Executive Vice President of Corporate Energy Development Ken Richardson says managing Big Data is critical to the future of offshore. (Singapore) ABS, the leading provider of classification services to the global marine and offshore industries
The Maritime and Port Authority of Singapore (MPA) and the Port of Rotterdam Authority have signed a Memorandum of Understanding (MOU) to exchange information on marine services and jointly collaborate on research and development in the areas of service efficiency and optimisation
Solstad Offshore ASA (SOFF) has fixed the 2011-built 18,000 dwt crane barge Norce Endeavour to Chevron for work in Thailand next year for around 200 days. Solstad has received confirmation from Chevron in Thailand for the 2016 Offshore Installation Campaign utilizing its Derrick Lay
Yang Ming Marine Transport Corporation, Taiwnanese global shipping and logistics services company, will take delivery of 14 large-sized ships over the next two years, as it moves to expand its fleet of shipping vessels.
Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's second 14000 TEU SAVER design containership and third delivery in 2015.