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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: Website: 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

Volvo Penta Doubles Service Interval

Aquamatic sterndrive diesel engine

  Volvo Penta today announced a new extended service interval for its commercial marine diesel engines.   Under the new program, owners can double the maximum oil change interval to 1,000 hours for Volvo Penta D9, D11, D13 and D16 engines by meeting the following requirements:

Teekay Veteran Glendinning to Retire

Long-time Teekay leader David Glendinning, president of Teekay Gas Services, will retire December 17, 2015, after more than 28 years at Teekay. Stepping up to replace Glendinning is Mark Kremin, currently vice president in the same division, Teekay Corporation announced today.  

Chevron Cylinder Oil Gains NOL from Wärtsilä

Chevron Marine Lubricants’ 100BN cylinder oil, Taro Special HT 100 has received approval for its use in another engine range – products made by Winterthur Gas & Diesel Ltd. (formerly Wärtsilä Switzerland Ltd.).   

Creole Spirit Sets Sail for Sea Trials

Creole Spirit (Photo: Teekay)

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard for sea trials.   Creole Spirit is Teekay’s first of nine LNG newbuildings equipped with

ABP Marine Conference at Port of Ipswich

Attendees today at ABP’s annual Marine Conference which is being held at the Port of Ipswich

  The Port of Ipswich is hosting Associated British Ports’ (ABP) two-day annual Marine Conference for the first time starting today.   Held at the Old Custom House on the Ipswich waterfront, the conference is an annual event for more than 30 marine professionals who represent

Boskalis’ Fleet May Switch to Marine Biofuels

Bio-fuels today are not part of the marine fuel mix that operators and owners can choose from

  Boskalis today announced their collaboration with GoodFuels and Wärtsilä in a two-year pilot program to accelerate the development of truly sustainable, scalable and affordable marine bio-fuels. Bio-fuels today are not part of the marine fuel mix that operators and owners can

Indonesia, Australia on Joint Sea Patrol to Combat Illegal Fishing

Indonesia’s Fisheries Minister Susi Pudjiastuti met Austalia’s Barnaby Joyce in Jakarta. Photo: Indonesian Government

 Indonesian and Australian authorities have signed an agreement to combat illegal, unreported and unregulated (IUU) fishing and to promote sustainable fisheries governance across the region.   The Ministry of Maritime Affairs and Fisheries has signed a cooperation agreement with the

Royal Thai Navy Orders Harbor Tug

Photo: Robert Allan Ltd.

The Royal Thai Navy has ordered a new 32-meter tug from shipbuilder Italthai Marine Limited of Thailand, announced the vessel’s designer, Robert Allan Ltd.   Italthai Marine, whose Managing Director Wirat Chanasit inked the construction deal with Navy Commander Admiral Krisorn

Saudi Shipping Firm Bahri Posts Big Jump in Q3 Profit

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a significant hike in third-quarter net profit on Thursday. The company's net profit for the three months to Sept. 30 was 510.3 million riyals ($136.1 million), up from 84

Seaspan Accepts Delivery of 14,000 TEU Box Ship

Seaspan Corporation has accepted delivery of a 14,000 TEU containership new build, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14,000 TEU SAVER design containership and eighth delivery in 2015.

Sea Truck's DP3 Construction Ship Passes Sea Trials

Photo: Sea Trucks

Sea Trucks has completed sea trials of the DP3 offshore construction vessel Jascon 18 in Singapore. Jascon 18 features a 1,800-metric-ton crane, 1,800 sq m deck and a 750-metric-ton pipelay system. Capable of performing a wide variety of marine construction and pipelay tasks in both ultra

Mercury Marine, FPT Partner for Diesel Engine Launch

Mercury Marine informs it has signed a supply agreement with FPT Industrial to make the FPT 6.7L mechanically fuel injected NEF engines available for sale in global markets.   Martin Bass, Mercury Marine vice president of global category management, said

Singapore Delegation Visits ACE Winches

Yeoh Choon Jin, Head of Marine and Offshore, SPRING Singapore; Ho Chi Bao, Director, Manufacturing & Engineering and International Partnership Office Asia Pacific, SPRING Singapore; Jasmine Pang, Manager, Marine and Offshore, SPRING Singapore; Hayley Yule, Marketing and Communications Director; and John Jones, Middle East and Caspian Sales Manager (Photo: ACE Winches)

ACE Winches hosted a delegation from SPRING Singapore to its Towie Barclay Works facility for a visit to share an overview of its products and services, including manufacturing and engineering expertise.   Several delegates from the Marine and Offshore Department in SPRING Singapore were

Yanmar to Display New Common-rail Diesels at METS

Yanmar Marine International (YMI) will show its new range of common-rail fuel injected marine diesel engines rated for leisure marine and workboat applications at METS 2015, RAI Amsterdam, November 17 - 19.   Topping the bill of new inboards is its in-line six-cylinder is rated at 440 mhp

IMTRA Debuts Omega LED lights

Omega Downlights in square, round and gimbal designs (clockwise from top)

  IMTRA today released its Omega LED lights. Designed specifically for recessed lighting applications in large yachts, the DC-powered Omega LED lights feature a high-quality, high CRI (Color Rendering Index) that reveals the colors of objects faithfully in comparison with ideal and natural

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