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
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
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
By Mass Communication Specialist 1st Class Leif HerrGesell, Navy News Service The diplomats of tomorrow met with Deputy Chief of Naval Operations Vice Adm. John Morgan and naval strategist Capt. Dan Cloyd at the , March 26 to discuss the new joint-service Maritime Strategy and what it means to the nation's future. Over 50 students and faculty from the university's Graduate School of International Studies (GSIS) gathered in an intimate forum to listen to Morgan as he described the way ahead
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
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 February 1, COSCO Shipping Co., Ltd. signed a POOL agreement with Guangzhou Salvage Bureau of the Ministry of Transport (GSBMT) in Guangzhou Ocean Plaza. According to the agreement, M.V. Hua Hai Long, the 30,000 DWT semi-submersible vessel of GSBMT
Tidewater Inc. announced today the following update with respect to its negotiations with Sonangol, the national oil company of Angola, regarding Sonatide, the joint venture between Sonangol and Tidewater through which Tidewater markets its boat services to energy companies for operation in
MHI, Shanghai Diesel Engine, to set up company to manufacture & market industrial diesel engines for the Chinese market Mitsubishi Heavy Industries, Ltd. (MHI) and Shanghai Diesel Engine Co., Ltd. (SDEC), a major Chinese diesel engine manufacturer
Cargotec has established a joint venture with Jiangsu Rainbow Heavy Industries Co., Ltd. to strengthen presence in China The joint venture RCI will build a new facility at Taicang in China that will increase Cargotec's delivery capacity. The foundation stone of the facility will be laid in June
BMT Fleet Technology will commence work to enable the decommissioned submarine, HMCS Ojibwa to become the centrepiece at the new Elgin Military Museum of Naval History being built in Port Burwell, Ontario. Ojibwa has completed its route from Dartmouth, Nova Scotia to its temporary home in Hamilton
After assessing more than 700 project applications equaling about $10.2 billion, the U.S. Department of Transportation today announced that 47 projects in 34 states and the District of Columbia will receive a total of $485.3 million in its fourth round of TIGER (Transportation Investment
Holland's Fugro Offshore Geotechnics & Gregg Marine form a new Joint Venture company, Seafloor Geotec, LLC Fugro Offshore Geotechnics are specialists in marine site investigation and geo-consulting, and Gregg Marine, Inc., in seabed robotic drilling.
Bomin & Linde outline JV plans to target infrastructure supply of LNG in the European maritime sector. The Linde Group announce a joint venture with Bomin, a subsidiary of Marquard & Bahls, to build infrastructure for liquefied natural gas in the European maritime sector.
Teekay Shipping Australia Pty Ltd. (Teekay) and KOTUG International B.V. The Netherlands (KOTUG) today announced the establishment of a new Joint Venture (JV) company, called KT Maritime Services Australia Pty Ltd, to pursue new business opportunities in the Australian towage market.
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