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.
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
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, 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
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.
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
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
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
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.
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
Keppel Logistics Pte Ltd, a wholly owned subsidiary of Keppel Telecommunications & Transportation Ltd (Keppel T&T), has expanded its logistics capabilities down under with Keppel Logistics (Australia) Pty Ltd. The wholly-owned subsidiary of Keppel Logistics will manage a 10
Hydroid, Inc., a subsidiary of Kongsberg Maritime and a leading manufacturer of autonomous underwater vehicles (AUVs), today announced that it has been named the Southeast division gold winner in the 11th Annual Massachusetts Economic Impact Awards
Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the ultra deepwater semi-submersible Mærsk Deliverer expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that Transocean Inc., its wholly-owned subsidiary, intends to proceed with an unregistered offering of shares of Caledonia Offshore Drilling Company, a wholly owned subsidiary of Transocean, in connection with an offering being made to eligible
The U.S. Department of Commerce confirmed steep duties on imports of refrigerant gas from China on Wednesday, saying the goods were sold too cheaply in the United States and were produced using Chinese government subsidies. Final duties on the gas known as 1,1,1,2-tetrafluoroethane
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange
Italian shipmaker Fincantieri said its Singapore-listed subsidiary Vard expects marginally negative earnings before interest, tax, depreciation and amortisation (EBITDA) in the third quarter. Vard, which makes offshore vessels for the oil and gas industry
MacGregor has signed a new series of deck machinery orders for 12 vessels with the China-based Sinopacific Shipbuilding Group. This builds on a track-record of contracts that now stands at 150 shipsets of equipment successfully delivered and installed at Sinopacific yards
Moody’s Investors Service has upgraded Canaveral Port Authority’s $30.2 million in outstanding revenue bonds to A2 from A3 and rated its financial outlook stable. The upgrade was attributed to low leverage, cruise growth, stable finances and proactive capital plan management.
This partnership between OBPA and QSL will create jobs and new maritime transportation opportunities by consolidating international trade in the Port of Ogdensburg. Quebec Stevedoring boosts the port's handling capacity with the expertise
Diana Containerships, a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v “YM Great”, a 2004-built Post-Panamax container vessel of 5
South Korean shipbuilder Samsung Heavy Industries plans to build three Arctic tankers for Russian oil company Gazprom Neft, which has been targeted by Western sanctions, sources familiar with the deal said. The sanctions imposed on Moscow over its role in the crisis in Ukraine have complicated
SENER opened an Engineering and Construction division in Manchester to reinforce its presence in the United Kingdom. The group already has work sites set up in the UK and it maintains a close 25-year relationship with Rolls Royce through ITP
Keppel Offshore & Marine Ltd wholly owned subsidiaries Keppel Shipyard Ltd (Keppel Shipyard) and Keppel Nantong Shipyard Co. Ltd have secured contracts from repeat customers worth a total of S$153 million. Keppel Shipyard's contract is for the conversion of a Floating Production
Star Bulk Carriers Corp. (NASDAQ: SBLK) announced that following the settlement and adjudication of the company's subsidiary Star Borealis LLC claim for damages and due hire related to the repudiation of the long-term time charter of the M/V Star Borealis by charterer Pan Ocean Co Ltd