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.
Pemex, Mexico's state oil company, will launch new companies next year as it restructures following landmark energy reform, Pemex Chief Executive Officer Emilio Lozoya told local radio on Monday. "The business plan that we're considering for the next year will involve an internal restructuring," Lozoya said. "We will be launching various new companies that will be 100-percent-Pemex owned in order to run certain businesses more efficiently."
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.
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
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
Global miner BHP Billiton is considering listing a planned spin-off company in London as well as in Sidney and Johannesburg, the company said in a letter to shareholders. BHP announced in August it would spin off some base metals and coal assets worth an estimated $16 billion and said at the time the new company would be headquartered in Perth and listed in Australia, with a secondary listing in South Africa. Some UK-registered shareholders have expressed concerns about the lack of a
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
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.
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.
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
Dubai ports operator DP World and the Russian Direct Investment Fund (RDIF) have launched a new joint venture aiming to invest in ports, transportation and logistics infrastructure in Russia, they said in a statement on Thursday. Under the name DP World Russia
Dubai-based port operator DP World and the Russian Direct Investment Fund have launched a joint venture to develop ports, transportation and logistics infrastructure in Russia. Signed on the sidelines of the World Economic Forum in Davos, Switzerland
Crisis-hit yacht manufacturer Fairline Boats has been saved after the firm was bought by two Russian investors. A new company, Fairline Acquisitions, funded by two UK-based Russian investors with a background in the marine sector
Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material handling equipment centered on forklift trucks, engines and turbochargers. The new entity will serve as an independent management body to
Paris-listed seismic giant CGG and Russia's largest shipowner, SCF Group (Sovcomflot), have formally registered a joint-venture company focused on coldwater surveys, reports Interfax. The joint venture, to be called Arctic Geophysical Exploration (AGE)
A new wireless crane camera system called BlokCam delivers live video from the hook block to the operator in the cabin. Manufactured by 4Site Technology exclusively for BlokCam Limited, BlokCam will be distributed by Compact Lifting Group.
Union Minister of Shipping, Road Transport & Highways Shri Nitin Gadkari has said that the decline observed in the performance of Major Ports from 2008 to 2014 has reversed and they have shown improvement in their performance in 2015.
On October 1 two new wholly owned group companies of Mitsubishi Heavy Industries, Ltd. (MHI) succeeding to MHI's ship construction operations in the Nagasaki district will commence business operations. Mitsubishi Heavy Industries Shipbuilding Co., Ltd
The acquisition of Imtech Marine by Pon Holdings and Parcom Capital has been finalized. The European Commission has approved the takeover of the leading maritime service provider. Imtech Marine will continue to operate independently and will, in the coming period
Front Street Shipyard in Belfast, Maine, is partnering with Brødrene Aa in Hyen, Norway, to market, sell and build carbon fiber ferries throughout the United States under the new company name Arcadia Alliance. Working in conjunction with Maine Composites Alliance and Martin Grimnes
Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market.
P&O Repasa, a new company formed last year by the acquisition of the majority of the shares in Spanish towage firm Repasa by P&O Maritime, has taken delivery of one Damen Fast Crew Supplier 5009. The vessel will be operated from Malabo on Bioko Island, Equatorial Guinea
In December Mitsubishi Heavy Industries Compressor Corporation (MCO), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Hiroshima, will establish a new company in Brazil in a joint venture with Mitsubishi Corporation (MC), to be known as MHI Compressor do Brasil Ltda
The new website for Damen Trading, the brokerage department of the Damen Shipyards Group, integrates Damen corporate house-style as well as an improved profile of services that includes registration, transport and even vessel modifications if required
According to Wood Mackenzie Ltd, Europe is set to be the key destination for liquefied natural gas supplies from the U.S. after prices fell in Asia, the world’s biggest consumer of the fuel says a report in Bloomberg. The U.S