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New Joint

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.


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


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


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


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.


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


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.


PT Batam Maritime Center signs MoU

DDW MoU with PT Bina Bangun Bahari.

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


Greek J/V to Acquire HSH Debtors' Fleet

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


Collaboration Tackles Sea Spray Icing Challenges

Photo: DNV GL

Sea spray icing is one of the major challenges when operating in Arctic conditions. DNV GL is now launching an industry collaboration which will develop a simulation model that bridges functional winterization requirements and real physical conditions for drilling rigs


CMA CGM to Launch New Joint Liner Service

CMA CGM S.A. announced it act in cooperation with China Shipping Container Lines (CSCL), Orient Overseas Container Lines (OOCL) and Pacific International Lines (PIL), to offer a new joint service in the North East Asia, Australia and New Zealand Trade, commencing from Shanghai in early of November


Kvaerner, KBR Partner for Johan Sverdrup Contracts

Kvaerner and KBR, Inc. will establish a joint venture to competitively bid on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway, the companies announced. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore


Kvaerner & KBR Ally on Offshore Rig Topside Bids

Rig topsides: Photo Kvaerner

Kvaerner ASA says it is to establish a joint venture with KBR Inc. to bid competitively on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore


Wärtsilä's JV with CSSC to Expands Engines Range

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co


Offshore Wind Turbines for MHI Vestas Offshore

Wind Turbines of MHI Vestas Offshore Wind

  MHI Vestas Offshore Wind A/S, a JV between Mitsubishi Heavy Industries, Ltd. (MHI) and Vestas Wind Systems A/S, has reached a conditional agreement with Skovgaard Invest ApS and Energicenter Nord for the purchase of four V164-8.0 MW offshore wind turbines for the Velling Mærsk


SAAM SMIT Towage J/V to Operate 100 Tugboat Fleet

SMIT Brasil tugboats: Image Boskalis

Royal Boskalis Westminster N.V. inform that with SAAM S.A. they have successfully created a joint harbor towage operation within the American Continent in Brazil, Mexico, Canada and Panama, comprising two underlying joint ventures operating in more than 30 port terminals with a hundred tugboats.


The Gulf Set to Rival China's Ship Repair Capacity

Christopher Hayman: Photo Seatrade

“The Middle East is a world-class centre of excellence for ship repair with a number of well respected shipyards already offering a diverse range of services. We are seeing new joint ventures between the region and Asia in the dry dock sector


DeltaLangh Brings Closed Loop Scrubber to the Market

Langh Ship’s vessel M/S Laura

Deltamarin Ltd. and Oy Langh Ship Ab have come together to offer a cost effective and reliable solution to the sulphur requirements with the scrubber that Langh Ship has developed. The new scrubber is delivered by a joint venture company DeltaLangh Ltd


Stolt-Nielsen Gas Takes Major Stake in LNG Logistics Start-Up

Courtesy Stolt-Nielsen Limited

  Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that Stolt-Nielsen Gas Ltd. (SNG), SunLNG Holding Ltd. (SunLNG) and LNGaz Ltd. have agreed to form a new start-up focused on the development of small-scale LNG liquefaction and logistics services in Bécancour


Stolt-Nielsen Takes Stake in LNG Logistics Startup

Stolt-Nielsen Limited has announced  that Stolt-Nielsen Gas Ltd. (SNG), SunLNG Holding Ltd. (SunLNG) and LNGaz Ltd. have agreed to form a new startup focused on the development of small-scale LNG liquefaction and logistics services in Becancour, Quebec, Canada


Wilhelmsen Maritime In FSN Private Equity Joint Venture

File image

Wilhelmsen Maritime Services (WMS) says it has signed a letter of intent with the Nordic private equity fund FSN Capital to establish a joint venture within engineered solutions, equipment and services to the maritime and offshore markets currently trading under the business area Wilhelmsen


Unique Maritime, OEG Offshore Sign Joint Venture Agreement

Daniel Lim and Sahil Gandhi (L to R) in front of a line of OEG Containers

Joint venture OEG Unique to provide offshore equipment in the Middle East Unique Maritime Group, an integrated turnkey subsea and offshore solutions provider, announced a joint venture agreement with OEG Offshore (OEG), to offer the rental and sale of offshore equipment in the Middle East region


Middle East Offshore Equipment Supply: New J/V Set Up

UMG Diving equipment: Image courtesy of Unique Maritime

Leading integrated turnkey subsea and offshore solutions provider, Unique Maritime Group, says it has signed a Joint Venture (J/V) with OEG Offshore (OEG), to offer rental and sale of offshore equipment in the Middle East region.   


New Joint Venture Targets Nuclear Industry

Cory_Navarm logo web.jpg

International maritime logistics expert Cory Logistics, part of Braemar Shipping Services plc, has formed a joint venture with universal supply chain specialist Navarm Limited to create a single source provider for a full suite of maritime and land based services for the nuclear new build industry






 
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