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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

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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


SITA UK, Forth Ports Form Port Recycling Hub

Suez Environment subsidiary, SITA UK, and Forth Ports Limited announced a long-term partnership that will see the creation of a major recycling and resource management hub based at the Port of Tilbury on the River Thames. The partnership is part of a growth strategy for both companies that


Partners Sign Up for Marseilles Intermodal Project

Six partners led by the Marseilles Fos port authority have formed the Mourepiane combined transport terminal company (MTTC) to help finance and manage construction of the port’s long-planned intermodal upgrade development in the Marseilles harbor area.


MHI to Integrate Two Group Companies

Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation Voxcel air-cooled heat pump module chiller]

  Effective October 1, Mitsubishi Heavy Industries, Ltd. (MHI) will integrate two of its group companies: Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation, which handles majority of domestic sales of air-conditioning and refrigeration (AC&R) products


McDermott Awarded Megalodon Platform Installation

Photo: McDermott

McDermott International, Inc. announced today that one of its subsidiaries was awarded a contract to provide transportation and installation services to Walter Oil & Gas Corporation for the Megalodon platform destined for South Timbalier Block 311 in the Gulf of Mexico


ST Electronics Establishes Brazilian Subsidiary

  Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has set up a subsidiary, ST Electronics do Brasil Serviços e Soluções em Sistemas Eletronicôs Ltda


Igor Sechin Held Negotiations in Venezuela

Igor Sechin Hold Negotiations in Venezuela

  Rosneft President Igor Sechin held talks with the Minister of Popular Power for Oil and Mining and President of Petróleos de Venezuela, SA (PDVSA ), Rafael Ramirez Carreno. The parties discussed a wide range of issues regarding current cooperation between the companies


FERC Accepts Kinder Morgan's Application

Proposed  Magnolia LNG Project

Liquefied Natural Gas Limited (LNGL) informs that the US   Federal Energy Regulatory Commission (FERC) has accepted Kinder Morgan  Louisiana Pipeline LLC’s (KMLP) application pursuant&


Bay Shipbuilding Awarded USCG Repair Contracts

Hollyhock (WLB-21)

Fincantieri Marine Group (FMG) subsidiary, Bay Shipbuilding Company (BSC) of Sturgeon Bay, Wisconsin, has been awarded a USCG contract for drydock repairs to the United States Coast Guard Cutter Hollyhock (WLB-21) and a second USCG repair and sustainment contract for the icebreaker Mackinaw


Rosneft Brasil to Acquire Controlling Stakes in Solimoes Project

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Rosneft Brasil (Rosneft subsidiary) and HRT O&G (HRT subsidiary) received approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) for the Rosneft Brasil transaction to acquire additional 6% in the Solimoes project.


FURUNO and Electronic Navigation Join Forces

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Electronic Navigation Ltd (ENL), New Zealand’s largest marine electronics company and the developer of the WASSP sonar, and FURUNO Electric Co., Ltd of Japan, a manufacturer in the global marine electronics industry, are joining forces


BMT to Showcase Monitoring Portfolio at SMM

BMT SMART (Credit BMT)

BMT SMART Ltd (BMT), a fleet performance management system and BMT Group Ltd subsidiary, will showcase its performance monitoring portfolio this coming September at SMM in Hamburg, Germany. The SMART suite of solutions works by continually collecting vessel performance data and presenting key


Peel Ports Enters 10-year Deal with Volkswagen

Volkswagen Golf SV (Photo courtesy of Volkswagen)

Peel Ports Medway signs 10-year deal with Volkswagen Group UK; new multimillion pound facility will generate 100 new jobs and add more than 50,000 car imports Peel Ports Group said it sees the automotive sector as a major growth opportunity and is working continually to provide vehicle


Foster Wheeler-Led JV to Develop Nafusah Onshore Oilfield

Roberto Penno Chief Executive Officer of Global Engineering & Construction Group

  Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V


Evergreen Holds Naming Ceremony for New Ship

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Evergreen Group held the naming ceremony for Ever Loading, the sixth of its L-type vessels to be built by CSBC Corporation in Taiwan. The ceremony took place at CSBC's Kaohsiung shipyard and was officiated by Bronson Hsieh, Evergreen Group's Second Vice Group Chairman


Kirby Awards ATB Contracts to Bay Shipbuilding

Photo courtesy of Bay Shipbuilding

Bay Shipbuilding Company (BSC) of Sturgeon Bay, Wisconsin, a subsidiary of Fincantieri Marine Group (FMG), has been awarded a contract to build two 155,000-barrel capacity barges and two 6,000 HP tugs for Kirby Corporation. The vessels are to be operated as Articulated Tug-Barge (ATB) units and






 
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