New Company

Alstom Sells Shipbuilding Division to Aker Yards

Aker Yards and Alstom announced their intention to join forces in shipbuilding in which the companies would establish a new company consisting of the shipyards in Saint-Nazaire and Lorient. Aker Yards would own 75 percent of this new company and Alstom would commit itself to keep the remaining 25 percent until 2010. The transaction would enable continuity in management and the actions taken as part of the “Marine 2010“ performance improvement and cost reduction program already under implementation in ALSTOM Marine. The transaction would have no direct impact on employment. By being part of Aker Yards, the new company would benefit from a broadened product range and strong industrial synergies. Aker Yards has 13 yards in 5 countries in which it has demonstrated its ability to implement synergies. It would be in a position to address the strong growth which is expected in this market. The new company would benefit from a unique design competence, combining the long tradition of French and Finnish cruise shipbuilding, that has produced icons such as SS France, Queen Mary 2, the Voyager class and the Freedom class ships. Aker Yards would also be in a position to fully leverage Chantiers de l’Atlantique's large industrial capacity in cruise ships and naval vessels in Saint-Nazaire. The shipyard is ideally positioned to handle the construction of very large ships and is able to respond to a cruise market which demands vessels of ever-increasing size.

Deltamarin, Shandong New Shipbuilding Create Joint Venture Company

The Finnish private-owned company Delta-Sigma Ltd (owner of Deltamarin Ltd and Deltamarin Contracting Ltd) and the Chinese state-owned company Shandong New Shipbuilding Heavy Industries Co., Ltd have established a joint venture company to provide technical and engineering services to Chinese shipbuilding and marine industry market. The new company is called Shandong Deltamarin Ship Design Co., Ltd, and its office is located in Weihai City, Shandong Province

Exmar, Golar Mull Possible LNG Merger

Exmar, the tanker division of Belgian shipping company CMB is reportedly in talks with Norway's Golar LNG to merge their liquified natural gas activities. It was reported that Exmar director Nicolas Saverys said the new LNG company would have assets worth $500 million. "We are in detailed negotiations with (John) Frederiksen (Golar LNG's shipping magnate owner) about bringing our LNG activities into a new joint venture," Saverys was quoted as saying.

Fairplay Towage and Multraship Launch JV in Antwerp

Fairplay Towage and Multraship have jointly launched a new company to provide towage services in . Antwerp Towage NV, a 50/50 joint venture between Fairplay and Multraship, is the first new initiative launched by the two companies following the signing of an agreement in August this year by which Fairplay Towage took a 50 percent stake in Multraship. The new company will have an office on the Tavenierkaai in and will provide shipowners and charterers with a responsive and efficient tug

Telenor Launches Marlink

Telenor Satellite Services announced that it has formed a new company, Marlink, to provide a wide range of mobile satellite communication services, mainly for customers in the maritime sector. Marlink will act as a 'multi-supplier' of mobile satellite airtime providing communication services from a number of suppliers, including but not limited to Telenor. Marlink will also provide traffic accounting services, hardware and value-added services.

SEACOR and Nabors Announce Letter of Intent for Offshore Vessel Fleet

SEACOR Holdings Inc. and Nabors Industries Ltd. have entered into a letter of intent to form a new company to own and operate a fleet of 20 offshore support vessels currently owned by a Nabors affiliate. A subsidiary of SEACOR will be the majority owner of the new company, Sea Mar Offshore LLC and will manage its 19 US flag and one foreign flag vessels. Nabors will be a minority owner of Sea Mar, which will qualify for US coastwise trade.

Hydro, Statoil to Establish Offshore Oil Company

The boards of Norway's Hydro and Statoil have urged their shareholders to approve a deal that would merge their oil and gas assets. If approved, Norway's largest offshore oil company would be created, with a combined production of 1.9 million barrels per day in 2007 and proven oil and gas reserves of 6.3 billion barrels of oil equivalent. Hydro's shareholders will hold 32.7% and Statoil's shareholders will hold 67.3% of the new company. Hydro's shareholders will receive 0

Mitsubishi Heavy Industries Revamp Singapore Businesses

MHI to launch new Mitsubishi Heavy Industries Engineering & Services Private Ltd. (MIES) in Singapore, integrating three local afiliated companies. Effective October 1st 2012 Mitsubishi Heavy Industries, Ltd. (MHI) will launch a new company, Mitsubishi Heavy Industries Engineering & Services Private Ltd. (MIES), to supersede the current MHI Industrial Engineering & Services Private Ltd. (also abbreviated as MIES) after taking over various business functions of two other MHI

Litton Integrates Marine Ops In New Company

The consolidation of marine industry assets in the United States has taken a rather unique twist, as Litton Industrys – with a strategy of becoming the marine industry's full-service leader – announced the formation of a new company, the Litton Ship Systems Full Service Center (LSS FSC). Litton, which for years has been amassing an impressive arsenal of marine equipment builders and suppliers from around the globe, formed LSS FSC to operate as a stand-alone business within the existing Litton

Heindenreich Marine Develops Product Tanker Pool

Heindenreich Marine has created a new global clean petroleum product tanker pool - Dorado Tankers - to be managed from Heidmar's new office in Darien, Conn. The focus of the new company will be to operate product tankers under a common umbrella - similar to the Star Tankers' panamax pool. Heidmar also reported that it has elected David G. Palmer as vice president of the company, as well as managing director of Dorado Tankers