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.
German navigation system manufacturer Raytheon Anschütz has established its new subsidiary Raytheon Anschuetz Panama, S. de R.L., in Panama City. The new company, to open on February 1, 2015, will be positioned as the regional customer support and service coordination center, including service training capabilities and a large spare parts depot for Panama, Middle and South America and the Caribbean. The facility of Raytheon Anschuetz Panama is located close to the Panama Canal
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, 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
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
Miko Marine AS has appointed Spencer Go as managing director of its new subsidiary in Singapore which was established in May. Miko Marine Asia Pte Ltd has opened a new office in Lokyang, Singapore from where Spencer Go will be spearheading the sale of Miko products and services throughout Asia. Go will be supported by Indonesia-based naval architect Per Johansson who is an established member of the Miko team and is known in the region for his knowledge of innovative marine and offshore
Vard Holdings Limited (VARD) has announced that through its subsidiary Seaonics, it has acquired ICD Software, a leading provider of automation and control system software for the offshore and marine sectors. Established in 2011 and 51% controlled by VARD, Seaonics delivers winches
Ceremony signals the start of construction for the second SEA-Vista ECO Tanker to be constructed at the General Dynamics NASSCO shipyard in San Diego. General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, signaled the start of construction for the second of three 50
Offshore oil and gas drilling firm Northern Offshore Ltd. has reached agreement on the terms of a recommended $165m cash acquisition by Shandong Offshore International Company Limited. The NOK7.59 per share offer by Shandong has been unanimously recommended by the board of
Uni-Asia Holdings Limited has acquired a new wholly owned Panama-incorporated company known as Fortuna Containership S.A. as a ship owning subsidiary for the purpose of acquiring a 3,500 TEU second hand containership. Fortuna Containership was incorporated in Panama on 20 May 2015
Crowley Maritime Corp.’s ship management group has been awarded a new contract with Sunrise Operations LLC, a subsidiary of The Pasha Group, of San Rafael, Calif., for the operation, crewing and maintenance of four Jones Act ships operating between the U.S. West Coast and Hawaii.
Rolls-Royce secured a contract to supply a power and propulsion package for an ice-class multipurpose vessel under construction at Keppel Singmarine for Singaporean shipowner New Orient Marine Pte Ltd. The propulsion package includes a 1,650kW and two 3,000kW tunnel thrusters, two US ARC 0
ABS has granted Approval in Principle (AIP) to a new gas containment system concept designed in Norway by Brevik Technology, a Vard subsidiary. The containment system uses a series of independent, cylindrical IMO Type-B tanks and for the AIP was designed for application in a gas
The U.S. Navy has awarded General Dynamics Electric Boat a $6.5 million contract modification to support development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics. The VPM will comprise four large-diameter payload tubes in a new
A subsidiary of Islamic Republic of Iran Shipping Lines (IRISL) has launched a series of new routes across the Caspian linking Russia and Kazakhstan, reports Informatore Navale. This initiative will bring six sailings per month for new services
Otto Marine Limited, a builder and charterer of complex offshore support vessels and specialized offshore services provider, announced that its wholly-owned subsidiary, Swordfish 1 Pte Ltd, has entered into a long-term bareboat charter contract worth $27 million.
Diana Shipping Inc. specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto
Cosco (Guangdong) Shipyard secured a contract worth over 129 million yuan ($20.8m) to build one research vessel, to be delivered in the fourth quarter of 2017. The contract will become effective upon the receipt of letter of guarantee from the shipyard's bank.
A subsidiary of Singaporean conglomerate Keppel Corp Ltd said it signed a 15-year contract with the International Seabed Authority to search the ocean for scarce minerals. The push to explore the ocean is gaining momentum as ore grades on land decline and demand grows for metals in
Indian shipping company Great Eastern Shipping has announced that its wholly owned subsidiary, Greatship, has sold and delivered anchor handling tug supply (AHTS) vessel Greatship Akhila (7,080 bhp, built 2009) to unnamed buyers.
Newport News Shipbuilding to host ground-breaking ceremony for aircraft carrier and submarine production facility Huntington Ingalls Industries' Newport News Shipbuilding subsidiary will hold a ground-breaking ceremony for its new Joint Manufacturing and Assembly Facility (JMAF) on Monday