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
Moog Focal Technologies Corporation and the MacArtney Group have agreed to intensify their multi-service partnership aiming at expanding their long-term business cooperation in favour of their extensive customer portfolio. MacArtney has accepted responsibility for the in-field sales and
GOST (Global Ocean Security Technologies), celebrating its 10th year as a world leader in marine security, tracking, monitoring and video surveillance systems, announced today that it will highlight its newest commercial marine products at the 2015 International WorkBoat Show in New Orleans
Two new marine geological research vessels under construction in China will feature a broad scope of Wärtsilä engines and propulsion equipment. Wärtsilä has maintained a leading position in China for supplying propulsion solutions to research vessels.
Gulf Marine Repair Corporation, a southeastern tug-barge shipyard, announced it is consolidating operations with Hendry Corporation, its affiliated company and fellow shipyard, effective November 30, 2015. Rick Watts, the newly appointed President of Gulf Marine, said
VT Halter Marine, Inc. (VT Halter Marine), a company of Vision Technologies Systems, Inc. (VT Systems) and Bouchard Transportation Co. announced that Barge B. No. 272 was launched on November 20, 2015. This is the second barge of two Articulated Tug Barge (ATB) units constructed for Bouchard
Ruppel Hydraulik announced it will be able to process future projects in ship, port and offshore technology more efficiently following the certification of its quality management system by classification society DNV GL. The DNV GL auditors assessed the QM system and found that it
Caterpillar Marine unveils Cat C9.3 ACERT power solutions for the commercial marine market Caterpillar Marine has launched the Cat C9.3 ACERT Marine platform, a EPA Tier 3 compliant addition to the manufacturer’s commercial market portfolio
International classification society RINA Services has launched a new Competence Management System certification which it says helps ship owners and managers to raise the skill levels of their crews and shore staff above the basic statutory requirements
The Sustainable Shipping Initiative (SSI) is stepping up pressure on the shipping industry ahead of the COP21 Climate Change Conference in Paris, says The Chamber of Shipping of British Columbia. SSI want the IMO to support the UNFCCC global CO2 reduction targets on the basis that
The bill is to form the basis of a maritime planning act intended to promote economic growth and development of sea areas. The Danish Maritime Authority is to head the work. The bill on maritime planning gives the guidelines for the drawing up of a holistic marine plan for Denmark's sea
Becker Marine Systems USA continues growth in North America. Becker Marine Systems, the leader in rudder technology and the inventor of the Becker Mewis Duct Energy-Saving Device has added Brian Rhoades and Adam Wood to their USA staff.
Edward P. Kelleher will be assuming the new role of Global Business Development Manager – Diesel, effective December 1st. In this role, Mr. Kelleher will be leading the effort in developing a global distribution network, growing the Windrock Inc business in the marine industry and
Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of 3 years is offered to owners of specific YANMAR marine engine models which will be used for private and personal pleasure use
Seaspan hosted a groundbreaking ceremony today to announce it has officially started construction on a new head office in North Vancouver. The 7,800 square metre (84,000 square foot) corporate headquarters, scheduled for completion in late 2017
On a sunny October day in the German harbor-town of Hamburg, M/V Norwegian Escape, a brand new cruise ship, sets sail for the first time. On board are five Yara SOx scrubbers – one for each engine. The scrubbers ensure that the cruise is not just pleasurable