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New Joint

BSM, Optimum Announce Joint Venture Company

The Celestyal Crystal

Bernhard Schulte Shipmanagement (BSM) and Optimum Ship Management (Optimum) have announced the launch of a new joint venture partnership, Hanseatic Cruise Services. Based in Singapore, Hanseatic Cruise Services will provide comprehensive, world class passenger vessel management services to third-party clients around the world.    BSM is continuously working to expand and diversify its range of services. It believes that the cruise industry presents a significant opportunity for development, offering major growth potential. Captain George Koumpenas of Optimum says he is honored to partner with BSM, one of the world’s preeminent ship management companies.  “BSM’s pedigree as a global innovator in shipmanagement ensures our new joint venture, Hanseatic Cruise Services, will enter the market place as a provider of world class passenger ship management services. BSM has long set the standard for maritime solutions, and we look forward to a long and fruitful partnership.”


Swiss Re To Launch Joint Lloyd''s Hull Insurer

Swiss Re, Lloyd's underwriter Chartwell Re and marine mutual insurance manager Thomas Miller are reportedly setting up a new joint venture marine insurance syndicate at Lloyd's.


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.


ZF Establishes Joint Venture in China

At the headquarters of ZF Friedrichshafen AG, the management of ZF and of Nanjing Highspeed & Accurate Gear (Group) Co. Ltd. (NGC) signed a contract to establish the ZF Nanjing Marine Propulsion Co. Ltd. (ZF-NMP). The company will be based in Nanjing, P.R. China, owned 60 percent by ZF (China) Investment Co. Ltd., Shanghai (a subsidiary of ZF Friedrichshafen AG) and 40 percent by NGC. The new company will assemble and market ZF Marine’s range of heavy duty transmissions for application in


Oceanteam Dips Toe in Mexican Offshore Market

Image credit Oceanteam

Norway-based Offshore shipping company, Oceanteam Shipping ASA, highlights results in the first quarter of 2014 and draws attention to a Mexico J/V  with PEMEX. Revenue from operations USD 15.1 million for the quarter. EBITDA from operations is positive USD 6.7 million for the quarter. Operating profit of USD 4.2 million. Net finance negative USD 3.7 million. CSV Southern Ocean is 100 percent consolidated from the first quarter due to change in


Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine diesel engines. Wärtsilä's shares in the joint venture will be transferred to the current majority shareholder, Qingdao Qiyao Linshan Power Development Co. Ltd


V.Ships Forms New Joint Venture

V.Ships Hansen has been formed by incorporating the respective ships agency companies of V.Ships MSI (the Asian joint venture of V.Ships and IMC) and the Hansen Group of Taiwan. This new company will have its own offices in Singapore, Taiwan, China, Vietnam and Cambodia whilst maintaining its Asia-wide network of partners in other countries. V.Ships Hansen enhances V.Ships Agency’s ability to offer multi regional packages to customers


New Joint Venture Formed to Operate Bulk Carriers

Augustea Bunge Maritime Limited ("ABML") a joint venture company of Augustea Atlantica S.p.A. and Bunge Limited (NYSE: BG), has announced the formation of a new joint venture with York Capital Management The new company, ABY Holding Limited ("ABY"), will operate an independent fleet of ocean-going dry-bulk vessels.  The Malta-based venture intends to grow through the acquisition and chartering of modern ships.


DNV GL Leads New LNG Carrier Concept Project

DNV GL announced the initiation of a new joint industry project (JIP) to define the state-of-the-art next-generation LNG carrier. According to DNV GL, the aim is to develop a new LNG carrier that has a significantly improved environmental footprint and is more energy efficient and better suited to future trading patterns than existing vessels. The project will include the latest technology advances in cargo containment and propulsion efficiency


Newport News to Host JAMF Ground-breaking Event

Newport News Shipbuilding to host ground-breaking ceremony for aircraft carrier and submarine production facility   Huntington Ingalls Industries' Newport News Shipbuilding subsidiary will hold a ground-breaking ceremony for its new Joint Manufacturing and Assembly Facility (JMAF) on Monday, June 22.   Slated to open in 2017, the JMAF will support the builder’s Gerald R. Ford-class aircraft carrier construction and current and future Virginia-class submarine construction


UASC Expands Further in S.America

Photo: UASC

 United Arab Shipping Company (UASC) announced the opening of a new joint-venture agency in Uruguay and participation in this year’s Intermodal South America exhibition, opening today in São Paulo and running until 7th April.  


OSC’s New Feeder Service Links Oman to UAE

Tarik Mohamed Al Junaidi (Photo: OSC)

Oman Shipping Company (OSC) is launching a new freight service linking all Omani ports to the United Arab Emirates by mid-April, 2016, in a move that aims to boost trade links.   OSC’s new fortnightly Oman Express Service will be the first freight feeder operator to connect all Omani


Chinese Shipyard Turns Into Car Parking

Image by Mbella

 To cope up with so much financial strain, Hong Kong-based shipbuilders China Ocean Industry Group – formerly known as China Ocean Shipbuilding Industry Group – is literally being turned into a parking lot, reports Bloomberg.  


DNV GL 7 JIPs in North America

New research from DNV GL has revealed that cost management has become an even higher priority for senior oil and gas professionals  Courtesy DNV

In a concerted drive to find smart solutions to safely reduce complexities and cost in the North American oil and gas industry, DNV GL is leading seven new joint industry projects (JIP) from the region in 2016. The initiatives will support overall efficiency efforts in the pipelines


APM Terminals Pact with Qingdao Port

Left to right: Standing:  APM Terminals CEO Kim Fejfer and Qingdao Port Group Chairman Zheng. Seated: APM Terminals CFO Henrik Lundgaard Pedersen and Wang, Head of Business Development for Qingdao Port Group. Photo: APM Terminals

 Leaders from Qingdao Port Group met with APM Terminals executives in The Hague to sign a Memorandum of Understanding (MOU) for the APM Terminals Vado, Italy port project.    Terms and investment amount were not disclosed. The MOU will create a new joint venture to invest in and


Oman Shipping Names Two New Tankers

The recently named tanker Muscat Silver (image: Oman Shipping)

Oman Shipping Company (OSC) has performed the naming ceremony for two new product and chemical tankers – the Muscat Silver and Rustaq Silver.   The ceremony took place at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal


Georgia, South Carolina Ports Advance Joint Venture

The Georgia and South Carolina Ports Authorities have signed a new joint venture agreement that provides framework for the two states to work cooperatively toward the development of the Jasper Ocean Terminal (JOT), which will be jointly owned and operated by both port authorities.  


Høyesen to Head MacGregor's Offshore Solution Division

Høye G. Høyesen

MacGregor, part of Cargotec, creates a new division 'Advanced Offshore Solutions' by merging its two Norway-based divisions and combining the strengths in offshore mooring, loading and load handling businesses.   With the new joint division MacGregor aims to gain synergies and improve the


Teekay Awards Contracts for LNG Imports Complex

Possible Fleet of LNG MEGI Newbuildings. Image by Teekay LNG Partners

 A consortium composed of Teekay LNG Partners L.P., Samsung C&T (Samsung) and Gulf Investment Corporation (GIC) executed today with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain. 


VIKING, Daemyung Marine Invest in Korea

Courtesy VIKING

Marine safety equipment manufacturer and servicing provider VIKING Life-Saving Equipment A/S is to establish a local presence in Korea through a joint venture agreement with leading Korean marine safety equipment and servicing company Daemyung Marine Co. Ltd


APMT Takes Stake in Cartagena Terminal

Pictured left to right are Mr. Gabriel Echavarría, President of Compas Board of Directors who signed the deal on behalf of Compas and Mr. Joe Nicklaus Nielsen, Vice President, Port Investments for APM Terminals. Photo APMT

 APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.) have finalized the incorporation of Cartagena Container Terminal Operator (CCTO), a new joint venture which will manage and operate Compas S.A


DP World to invest in Russian Ports, Infrastructure

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


New JV for Integrated Drive And Control Solutions

Derek Walker (Photo: Scantrol)

Scantrol, MEC/MJR and Hydrofit join forces in Dynamic Integrating in order to offer electric and hydraulic drive and control solutions for marine and offshore winches in UK. At the forefront of Dynamic Integrating is Derek Walker, with over 35 years of experience in drive solutions and Active


Harkand Signs Joint Venture in Angola

Photo: Harkand

Harkand has signed a new joint venture agreement with ESOPEG Lda in Angola, its first strategic partnership in the country and third in the region as the global inspection, repair and maintenance (IRM) company continues to strengthen its capabilities across West Africa.  


AAL, PD Launch Joint Semi-Liner Service

Semi Line Services Courtesy AAL & PD

AAL & PD have followed up their cooperation on a range of global multipurpose tramp solutions with the launch a new joint semi-liner service - ‘Asia - Middle East - Europe’.  The route will connect mature and developing markets with regular fixed route sailings






 
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