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
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
The cabotage fleet of Hamburg Süd’s subsidiary Alianҫa has once again gained a new member. Within the scope of a customer event, the new container ship “Bartolomeu Dias” was christened on 14 April 2015 at the TECON Terminal in the southern-Brazilian port of Rio Grande
UK subsea equipment manufacturer Specialist Machine Developments (SMD) has been acquired by Zhuzhou CSR Times Electric Co, a subsidiary of Chinese company CSR Corporation. The two companies have signed a sale and purchase agreement for the entire share capital of the SMD group
Tube bending machine manufacturer, Schwarze-Robitec has opened a North American subsidiary as of April 2015. Schwarze-Robitec America Inc. has been implementing the entire sales and service for the high-quality Tube Cold Bending Machines Made in Germany.
Singapore Technologies Engineering Ltd (ST Engineering) today informed that further to the announcement made on 27 August 2013, the members’ voluntary liquidation of its indirect wholly owned subsidiary, PMB Project Management Business Sdn Bhd (PMB Malaysia), has been completed.
Africa-focused proprietary investment firm L.A.T Cleveson (LATC) has signed an order with Damen Shipyards Group for the supply of two PSV 3300 Platform Supply Vessels and two FCS 5009 Fast Supplier Vessels. This transaction will bring next generation Damen PSVs to the offshore industry of Nigeria
Diana Containerships Inc., 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 Los Angeles, a 2006-built Panamax container vessel of approximately 5
Genco Shipping & Trading Limited and its subsidiary Baltic Trading Limited has announced that they have entered into a definitive merger agreement under which Genco will acquire Baltic Trading in a stock-for-stock transaction. Under the terms of the agreement
Zamakona Yards has signed a partnership agreement with British company Subsea Masters, a specialist in drilling equipment maintenance and repair. With this agreement the Basque-Canarian Group expands its range of services adapted to the offshore industry.
Eurasia Drilling Company Limited has appointed Taleh Aleskerov as Chief Financial Officer commencing April 1, 2015. Mr. Aleskerov has served as Senior Vice President - Finance of the Company's chief Russian subsidiary since 2007. W
The U.S. Navy has awarded General Dynamics Electric Boat a $32.6 million contract modification to perform nuclear-maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics.
Klein Systems Group Ltd. is pleased to announce that it has entered into an agreement with Port Saint John, New Brunswick, to install the KleinPort Port Management Information System. The Port will be using KleinPort to manage and track its operational activities and cargo data
Klein Systems Group Ltd. announced today that it has entered into an agreement to install the KleinPort Port Management Information System at Port Saint John, New Brunswick. The Port will be using KleinPort to manage and track its operational activities and cargo data
French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth in volume and significantly reduced costs. Consolidated operating revenue for the company increased by 5
BMT Nigel Gee (BMT), a subsidiary of BMT Group, has announced the completion of new offices in Southampton in order to meet a large increase in design work. Operating across four principal market sectors, the naval architectural practice delivers design and engineering services for
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