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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.


Raytheon Anschütz Opens Service Center in Panama

Photo: Raytheon Anschütz

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


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


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


Milaha launches Qatar - India Service

Khalifa Ali Al Hitmi

Milaha Maritime & Logistics, a subsidiary of the Qatar based Milaha Group which delivers integrated transport and supply chain solutions in the GCC, has announced the launch of the first direct container service between Qatar and India. The non-stop service will connect Qatar’s Doha


Update on Noreco's Danish Licences

Logo

  As previously reported, Norwegian Energy Company ASA’s (Noreco) Danish subsidiary was in January prevented from making payments for its share of production costs at the Nini field, and it was consequently in breach of the licence agreement


Hamburg Süd Christens Third San Class Ship

Christening in Montevideo: (left to right) Captain Uwe Köhler, Roland Maier, Sponsor Elisa Maier and Frank Smet, member of the Hamburg Süd Executive Board (Photo: Hamburg Süd)

Hamburg Süd christened its third container vessel in the new San class yesterday, officially naming newbuild San Vicente at the Cuenca del Plata terminal in Montevideo.   The new ship class in the Hamburg Süd fleet has a nominal container slot capacity of around 9


Two ASD Tugs Delivered to URAG

Photo courtesy of Damen

URAG has taken delivery of two ASD 2411 Tugs to add to its existing fleet. Named Brake and Perfect, the new vessels have joined their sister ship Prompt in the port of Hamburg under the URAG subsidiary Lutgens und Reimers (L&R). The order for the tugs was placed in September 2014 and work


Conrad Shipyard Bags LNG Order

Image: Conrad Shipyard

 Energy infrastructure and LNG solutions provider WesPac Midstream and its subsidiary Clean Marine Energy (CME) have awarded a contract to Conrad Orange Shipyard for the construction of a dedicated LNG bunker barge for the marine market in North America.  


Keppel FELS to Deliver 100th Jackup Rig

Photo courtesy of Keppel FELS

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling) on time


GasLog Post 4Q 2014 Results

GasLog

  GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31, 2014. Highlights •         Agreement to acquire two


G&D Launches US Subsidiary

Image courtesy of G&D

German KVM company Guntermann & Drunck GmbH (G&D) announced it will distribute its equipment from new U.S. subsidiary G&D North America Inc. in Miami, Fla.      With the founding of its new subsidiary, G&D said it aims to increase its presence in the North American


Fiera Axium Consortium Buys Montreal Terminals

Image credit: Montreal Gateway Terminals Partnership

 A consortium led by Fiera Axium Infrastructure Inc. has acquired a 100% ownership interest in Montreal Gateway Terminals from Morgan Stanley Infrastructure Partners for an undisclosed amount, reports WSJ   The consortium includes Desjardins Group


Keel of First Eco Tanker for APT laid

Mrs. Katherine Faulconer, wife of Mayor Kevin Faulconer and First Lady of San Diego, welds her initials onto a steel plate that will be permanently affixed to the APT-1’s keel. Click on the image for hi res version.

  On Saturday, March 7, General Dynamics NASSCO hosted a keel laying ceremony for the first ECO tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. San Diego's First Lady, Mrs. Katherine Faulconer, was the honoree for the ceremony.


ICTSI Chairman Visits Basra Gateway Terminal

Construction underway fro the new BGT Quay

  Enrique K. Razon Jr., International Container Terminal Services Inc.(ICTSI) chairman and president, recently visited Basra Gateway Terminal (BGT), ICTSI’s subsidiary in the port of Umm Qasr, Iraq. Razon personally inspected the continuing upgrade works in Berth 20


DP World Parent Completes $1.2 bln Loan

Port and Free Zone World (PFZW), the holding company for Dubai-based ports operator DP World, has closed a $1.2 billion loan deal, banking sources aware of the matter said on Wednesday. The funds have a lifespan of five years, and will be used to help the company meet commitments at the group


Ecke is GM of DEA Egypt

Dr Hans-Hermann Ecke

  The new General Manager for Egypt is Dr Hans-Hermann Ecke, who is responsible for the business of the Egyptian subsidiary of DEA Deutsche Erdoel AG based in Cairo since the beginning of March. “I am looking forward to the upcoming tasks in Egypt


Diana Containerships Adds Two Panamax Ships

Diana Containerships Inc. announces agreement to acquire two Panamax container vessels   Through two separate wholly-owned subsidiaries, Diana Containerships Inc. has signed two Memoranda of Agreement to purchase two Panamax container vessels from an unaffiliated third party.  


Milaha Rolls Out First Direct Qatar-India Service

Image by Milaha Maritime & Logistics

 Milaha Maritime and Logistics, a subsidiary of Milaha Group, launched its first direct container service, known as the Nhava Sheva Doha Express (NDX), between Qatar’s Doha port and India’s port Nhava Sheva in Mumbai.  






 
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