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New Subsidiary

CMA CGM, IBM Sign Five Year Agreement

Partnership links world’s third largest shipping company with world leading technology services company.   After five years of working together through a joint subsidiary, CMA CGM Group and IBM today announced a new strategic partnership. Under the terms of the five-year agreement, IBM will provide industry-specific expertise in new technologies such as cloud computing and analytics, and support CMA CGM’s growth by delivering superior quality information technology services that will help CMA CGM  significantly reduce costs.   The IT teams from the two companies will be merged into a new subsidiary, CMA Systems, which will have an equally represented governance structure and report directly to Jacques R. Saadé, Chairman and Chief Executive Officer of CMA CGM. The new services and technologies developed by the new subsidiary, along with its unified organization, will enable CMA CGM to generate substantial savings in 2012, CMA CGM officials said.  


Japan's KHI to Spin Off Shipbuilding

The Kyodo news service has reported that Kawasaki Heavy Industries Ltd. of Japan will spin off its shipbuilding division on Oct. 1 into a new wholly owned subsidiary. The new subsidiary will reportedly be known as Kawasaki Shipbuilding Corp., and will specialize in the manufacture of ships and related equipment, Kawasaki Heavy said in a release. The spinoff is designed to create an efficient corporate structure that will enable the shipbuilding arm to cope with the global shipbuilding


New Ferry Line Formed

Atteshlis Shipping clinched a deal with Poseidon Lines Shipping of Liberia to operate a ferry line in the Mediterranean under a new subsidiary, it said. The subsidiary, Poseidon Lines Holdings, will operate the Sea Harmony vessel which transports cargo on the Greece-Cyprus-Israel route. Atteshlis Shipping will pay $3 million for a 51 percent stake of the new concern, with Poseidon Lines the remaining 49 percent, Atteshlis said in a statement to the Cyprus Stock Exchange


Bradford Marine Expands Line

Bradford Marine, Inc. (Bradford Marine) announced that they have expanded their line of services with the formation of a new subsidiary, Bradford Marine Group, Inc. (Bradford Marine Group). The Bradford Marine Group will significantly add to Bradford Marine’s ability to provide a full line of quality yacht services from their shipyard in Ft. Lauderdale. Bradford Marine Group will provide consulting services to yacht owners, their Captains and crews


Linssen Yachts Signs Agreement with Raymarine

One of the Netherlands' oldest and most respected yacht builders, Linssen Yachts, has confirmed an exclusive supply agreement with marine electronics manufacturer Raymarine. The two companies have worked together for a number of years.  With the formation of the new Raymarine Nederland subsidiary, Linssen yachts has chosen to sign an exclusive supply agreement stating that it provides additional benefits for both the company and its customers.


Ocean Works Sets Up Turkish Subsidiary

Sub-sea technology company, OceanWorks International, establishes OceanWorks Aykor as Its Turkey subsidiary. OceanWorks Aykor is a joint stock company established in Turkey by two organizations, OceanWorks International Corporation, and Aykor A.S. who has been OceanWorks International’s representative in Turkey since 1998 and a provider of complex systems to international military customers. OceanWorks Aykor will focus on the design and manufacture of technologies


Osprey Maritime To Sell LNG Operations For $635 Million

Singapore's Osprey Maritime said on Monday it agreed to sell its liquefied natural gas (LNG) operations to new subsidiary Golar LNG for US$635 million as part of a restructuring exercise. The marine and chartering services provider said in a statement the disposal was in line with the proposal by World Shipholding Ltd, its controlling shareholder, to reorganize and consolidate all of its LNG interests into Golar LNG.


Blackwater Unveils New Maritime Subsidiary

Blackwater, a training, security, logistics, peace support, and stability operations firm unveiled its plans to create a new subsidiary; Blackwater Maritime Security Solutions. Blackwater Maritime Security Solutions (BMSS), in a strategic partnership with the Global Maritime and Transportation School (GMATS) at the U. S. Merchant Marine Academy, and other professional maritime organizations and industry leaders will focus on providing world-class tactical maritime security training


HATLAPA Acquires Triplex AS, Extends Portfolio

mdh1 web.jpg

Hamburg-based manufacturer HATLAPA Marine Equipment has purchased a majority shareholding in the Norwegian deck machinery company Triplex AS. In doing so HATLAPA’s traditional product portfolio of compressors, steering gear and winches has now been significantly expanded to include all components of a typical deck machinery package for supply vessels and AHTs. With oil and gas exploration and production taking place in deeper and deeper waters the requirements of support vessels is


Hoover Container Solutions Acquire Dolphin Energy Equipment

Hoover Container Solutions, a subsidiary of Hoover Group, Inc., has acquired Dolphin Energy Equipment LLC, a leading provider of cargo and waste management rental equipment and related consumables in the Gulf of Mexico region. Headquartered in New Iberia, La., with a distribution and service center in Port Fourchon, La., Dolphin’s assets include a diversified fleet of cargo carrying units (“CCUs”) certified to the highest standards including DNV and API regulations


China Shipyard Delivers Handymax Size Bulk Carrier

Bulk carrier file photo CCL

COSCO Corporation (Singapore) inform that its Dalian Shipyard in China has delivered a bulk carrier of 57000 dwt, named "GUOTOU 108", to its Asian buyer. The Handymax bulker measures 189.99 meters in LOA, 32.26 meters in breadth and 18 meters in depth. About COSCO Shipyard


First Crude Lifting in 9 months at Libya's port of Hariga

A tanker has started loading crude at Libya's eastern port of Hariga for the first time in nearly nine months, after a federalist group agreed to re-open it last week, a state oil company official said on Wednesday. The tanker Aegean Dignity arrived at the port on Tuesday.


McDermott Signs Agreement for North Sea Spoolbase

© McDermott International

McDermott International, Inc. announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea. McDermott expects to have the facility available for projects in early 2015.


Van Oord acquires 100% control of Dravo

Van Oord acquires Dravo

Van Oord has acquired all shares of its Spanish subsidiary Dravo S.A.  Dravo S.A. has been owned, since 1987, by Van Oord (50%) and the Spanish company Dragados S.A. (50%), a subsidiary of ACS, the largest Spanish infrastructure contractor


Crowley Acquires Ship Management Company

 Crowley Maritime Corporation announced today that it has acquired majority ownership of Accord Ship Management (HK) Limited and Accord Marine Management Pvt. Ltd. The Accord acquisition will be managed by Crowley’s ship management group


Chang Jiang Shipping Faces Asset Liquidation

A Chinese court has ordered a unit of debt-laden dry bulk goods shipper Chang Jiang Shipping Group Phoenix Co. Ltd. to liquidate its assets, displaying further evidence of the troubles faced by the country's beleaguered shippers.   The unit


Padbury Mining Secures $6.5 Bln Port Funding

Source: Padbury Mining

Australia's Padbury Mining Ltd said it had secured almost $6.5 billion in funding to build a new deepwater port and railway at Oakajee in Western Australia, potentially opening a new export hub for the region's iron ore riches.   Plans for a port at Oakajee in Western Australia's Midwest


Debt-Laden Bulk Shipper to be Liquidated

A Chinese court has ordered a unit of debt-laden dry bulk goods shipper Chang Jiang Shipping Group Phoenix Co Ltd to liquidate its assets, displaying further evidence of the troubles faced by the country's beleaguered shippers.   The unit


Harley Marine NY Welcomes New Vessel

Harley Marine NY, a subsidiary of Harley Marine Services, took delivery of the river style push-boat, HMS Justice, from Conrad Shipyard of Morgan City, Louisiana. HMS Justice is the fifth vessel in this class and joins the New York fleet of two tugboats and four double hull petroleum barges


SEMBCORP MARINE’S SEMBAWANG SHIPYARD TO REVITALISE 'VOYAGER OF THE SEAS'

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured an agreement with RCL Cruises Ltd., a member of the Royal Caribbean Cruises Ltd. group, to perform the extensive revitalisation of Royal Caribbean International’s 137,276-gross tonnage


Nanjing Tanker To Be Delisted, First By Central Gov't Backed Firm

 Loss-making shipping company Nanjing Tanker Corp will be delisted from the Shanghai Stock Exchange after a five-day grace period, marking the first time for a company backed by the central government to be dropped from a domestic exchange.  


BASS Lands Deal in the Taiwanese Market

Image courtesy BASS

Fleet management solutions company BASS said it has achieved a recent deal in the Taiwanese shipping sector by securing its maiden contract in that bustling far eastern market. Under the deal with Taiwan’s Simosa Shipping, the BASSnet Maintenance module will be implemented within the


Change of Management at Yanmar

Peter Aarsen

Having reached the age of retirement, Geert Jan Mantel will resign from his position as President of Yanmar Europe B.V. as per June 30, 2014, a position he has occupied since April 1, 2002. He will simultaneously step down as Managing Director of the Yanmar Co


OGX lands $73 Mln loan

 Bankrupt Brazilian oil company Óleo and Gás Participações SA, formerly known as OGX, has obtained a $73.2 million loan to finance exports and related costs, the company said on Tuesday in a securities filing.


Topaz secures another West Africa contract

Topaz-faye DP2 platform

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced a new contract win for its fast growing West Africa operation. Under the terms of the US$ 11 million agreement


 
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