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.
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
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.
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
PT Batam Maritime Center – a member of Drydocks World Group- a maritime service provider in the region, has signed a Memorandum of Understanding with Indonesia based PT Bina Bangun Bahari, a company engaged in engineering, fabrication, construction and infrastructure to implement a cooperation agreement for management of land in Batam, Indonesia. Commenting on the sustained interest in contributing to the development of Indonesia
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.
After a three-year study, twelve leading shipowners and six major yards have set an industry standard on speed trials. “Best Practice” for conducting speed trials, as well as a recommended analysis procedure have been developed. The Sea Trials Analysis (STA) joint industry project was initiated in 2002 by Shell, P&O/Nedlloyd, Maersk and Dutch research institute MARIN, to develop a common methodology for speed trials for new ships coming into service. The new standard
The Executive Chairman of Austal Limited, Mr John Rothwell AO, today announced the appointment of Mr Bob Browning as Chief Executive Officer of Austal USA, effective mid August this year. Mr Rothwell said Mr Browning would add substantial experience to Austal’s existing executive team, and assist the company achieve its strategic growth plans across all sectors of the business. Mr Browning has been a non-executive Director of the Company since September 2003
ROLLS-ROYCE AND DAIMLER ANNOUNCE JOINT VENTURE COMPANY AND INTENT TO LAUNCH A PUBLIC TENDER OFFER FOR TOGNUM AG
* Combination aims to create a leading global player in the industrial engines market * The joint venture strengthens Tognum’s position and establishes a broader range of products, systems and services as well as global sales network * Rolls-Royce contributes Bergen gas and diesel medium-speed engine business – further enhancing the growth prospects of Bergen * Addressing a global market worth more than €30 billion a year with above
Navios Maritime Holdings & Navios Maritime Acquisition Corp. in J/V sign LOI to buy 10 ships from debtors of HSH Nordbank. The new Joint Venture company, named Navios JV, has executed a binding letter of intent to acquire ten vessels, composed of five product tankers and five container vessels with an average age of 5.5 years from debtors of HSH Nordbank AG. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Holdings and Navios Acquisition stated
Mitsubishi Heavy Industries, Ltd. (MHI) has agreed with Vestas Wind Systems A/S (Vestas), a leading manufacturer of wind power generation systems based in Denmark, to establish a new joint-venture company (J/V). Plans call for the arrangement to be in place before the end of March 2014.
Drewry’s weekly container insight report shows exits from the transatlantic and Asia-Black Sea trades demonstrate how Hanjin is prioritizing financial repair over global coverage. Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two
Leading class society ClassNK has announced that it will participate in a new joint development project to install and verify the effectiveness of new Sulfur Oxide (SOx) scrubber technology onboard a Pure Car Carrier (PCC) being carried out by Kawasaki Kisen Kaisha, Ltd
On Monday, February 24, European Union counter-piracy operation Atalanta and EUCAP Nestor, the civilian-led Maritime Security Capacity building EU Mission, hosted two training sessions for Tanzanian Maritime Police and Navy in Dar es Salaam to share knowledge and experiences in fight against
The role of Russia as a key global supplier of natural gas will be amplified at upcoming 'Russian Day' event. The Russian Energy Minister, Alexander Novak, confirms he will host a special ‘Russian Day’ at one of the world’s leading gas industry events in London this October
Maritime services provider Inchcape Shipping Services signs strategic partnership with offshore logistics & freight forwarder Palumbo S.P.A. to form ISS Palumbo. S.r.l. The new partnership combines ISS’s worldwide network with Palumbo’s core capabilities in providing offshore
FOSC for the Deepwater Horizon oil spill in New Orleans approved a joint plan from BP and Transocean. The Federal On-Scene Coordinator for the Deepwater Horizon oil spill in New Orleans approved a joint plan from BP and Transocean Thursday.
Industry experts share views on key Arctic R&D issues. ABS, a provider of classification services to the global offshore industry, offers a series of Arctic workshops that aim to help define the region’s most pressing research and development (R&D) needs
IMO & IPIECA, the global oil and gas industry association for environmental and social issues, jointly launch a new Global Initiative (GI). The GI programme, aimed at improving the oil spill preparedness and response capabilities in south east Asia was launched at a recent regional workshop
Bechtel launched a new research initiative to improve the safety of mooring large cargo ships off the coast of West Africa. The combination of heavy ocean swell, squalls and shallow coastlines can create unpredictable conditions which limit the number of dry bulkers that can be moored safely in
In view of continuous challenging trading conditions effective from July 2013 CMA CGM, Maersk Line, Hamburg Süd, CSAV, China Shipping Container Lines and Hanjin will restructure their services between the Far East and South America East Coast by launching three new joint services.
On Monday, June 10, Herkules signed an agreement to acquire Umoe Schat-Harding AS. The acquisition is being carried out in cooperation with the owners of Noreq AS, who, in parallel, are selling Noreq to Herkules and reinvesting a substantial amount in a new, joint holding company
Since new owners took over Schat-Harding and Noreq in June, Styrk Bekkenes, chief executive of Noreq, has been appointed CEO of Harding – a new large joint company for the development and production of life-saving equipment. Harding will have more than 900 employees in 30 different
To better serve the needs of local shippers, Crowley Maritime Corp.’s Panama liner and logistics teams have relocated to a new, shared location in the heart of the country’s capital, just minutes from Panama City’s major highways, airport and seaport
V.Ships Leisure (a provider of ship-management services to the passenger shipping industries) with V.Hospitality and MHG have formed a strategic partnership. The companies have a number of new joint projects in progress and the partnership will allow for a more effective collaboration.