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
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.
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, 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
Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.5 billion in the Stampede development, which is expected to begin production in 2018
Miko Marine AS has opened a subsidiary in Morgan City, La. from where it will be able to supply ship operators and salvage companies throughout the United States with its range of products, including its magnetic patches to prevent ships from sinking.
Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of the existing gas plant to process increased natural gas volumes from
Chevron Corporation announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the development of the Hess Corporation-operated Stampede project in the deepwater U.S. Gulf of Mexico
Enterprise Marine Services, a subsidiary of Enterprise Products Partners L.P., is making a major commitment to Z-Drives for the U.S. inland waterways. They currently have four Z-Drive boats in service and have taken delivery of two new Z-Drive vessels from Sneed Shipbuilding in Texas with three
A Chinese construction firm began work on a new Mediterranean port in Israel on Tuesday, prompting a strike at Haifa docks further up the coast where the workers oppose the new competition. Israel's government, looking to break up the monopoly of two state-owned ports in Haifa and Ashdod
Incat Crowther announced the delivery a pair of 30m catamaran passenger ferries, Macôco and Panguila, to Instituto Marítimo e Portuário de Angola. The vessels, built by Astilleros Armon in Spain, will be operated by subsidiary TMA Express.
VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered, combination Container Roll-On/Roll-Off (ConRo) vessels for Crowley following the signing of the contract
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction (EPC) contract by ExxonMobil Petroleum & Chemical BVBA (“Esso”) for the Antwerp Northwest Europe Resid Upgrade
The U.S. Navy has awarded General Dynamics Electric Boat an $18.9 million contract modification to perform reactor-plant planning yard services for nuclear submarines and support-yard services for moored training ships. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”) on terms consistent with the merger implementation agreement entered into on March 12, 2014.
The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a 80,000 DWT bulk carrier, "CIC EPOS", to its European Buyer.
WESMAR (Western Marine Electronics) delivered one of its bow thruster systems to another fireboat this month. This systems will be installed on a ‘super pumper’ for the city of San Francisco. The new fireboat is being built by Vigor Fab, Seattle, a subsidiary of Vigor Industrial
Kalmar, part of Cargotec, has signed a repeat order for nine all-electric rubber-tyred gantry cranes (RTGs) with Piraeus Container Terminal (PCT) S.A. in Greece, a wholly-owned subsidiary of COSCO Pacific Limited. The cranes, four of which are the world's widest
Drillsearch Energy Limited announced having successfully completed compulsory acquisition of the outstanding shares in Ambassador Oil & Gas Limited (Ambassador). Following compulsory acquisition, Ambassador is a wholly-owned subsidiary of Drillsearch.