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Jv Company News

11 Sep 2023

Northern Lights CCS: Trailblazing the Path to Europe’s Net Zero Emissions

Image © Equinor

In the global quest for achieving net zero emissions and slowing down global warming, carbon capture and storage (CCUS) technology has emerged as an important solution. Among the notable projects being developed in the field is the Northern Lights offshore carbon capture and storage project in Norway, a country with long experience with offshore CO2 storage.The transition to a sustainable energy future requires innovative solutions that go beyond simply halting fossil fuel projects.

16 Jan 2023

Alka Marine, Acta Marine Partner to Purchase a Damen Multicat

(Photo: Alka Marine)

Alka Marine and Acta Marine have teamed up within a joint venture (JV) to purchase a Damen Multicat 2712, operated by Alka Marine.The JV company called Alka Marine International, is incorporated under the French law and registered in Saint Nazaire. The vessel is named Coastal Aurora.Built in 2014, the 27-meter-long vessel is adapted to offshore wind support operations, including anchoring works, subsea structure maintenance, among others. With its 2 x 9.8-ton cranes at 16.5-meter, and a 150-ton winch, the Coastal Aurora has a bollard pull of 34 tons and has a 150-square-meter deck space.

15 Apr 2020

ONGC to Extend Armada Sterling FPSO Contract

File Photo: Armada Sterling - Credit: Keppel Corp.

Indian oil and gas company ONGC plans to extend the contract for the Armada Sterling FPSO, owned by a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited.Bumi Armada said Wednesday that its JV company had recently received notification from ONGC, about the oil company's plan to extend the contract of the Armada Sterling FPSO from April 20, 2020. "According to ONGC, approval for the formalisation of the contract extension has been delayed due to the COVID-19 lockdown in India…

07 Nov 2019

CDWE Wins Taiwanese OWF Gig

Taiwanese marine joint venture (JV) company CSBC-DEME Wind Engineering (CDWE) has signed two contracts for the transport and installation of foundations and turbines at the 300MW Zhong Neng offshore wind farm (OWF).The JV between Taiwanese outfit CSBC and Belgian contractor DEME Offshore will aim to deliver the project, owned by China Steel Corporation (CSC), in 2024.The 300 MW Zhong Neng offshore wind farm, developed by China Steel Corporation, is planned for completion in 2024. In order to implement the localisation policy required by the Taiwanese government, the Zhong Neng Wind Power Corporation Preparatory Office has worked closely with CDWE, with the aim of maximising local content.

31 Jul 2019

Swiber Forms JV with Hilong Marine

Singapore offshore company Swiber Holdings' wholly-owned subsidiary, Swiber Offshore Construction (SOC) has entered into a shareholder's agreement with Hilong Marine Engineering (HME) to establish a joint venture company in Singapore.The shareholders (51% Hilong and 49% Swiber) have named the new company – Ocentra Offshore. New joint venture to target offshore construction and installation sector.According to the company, the principal business of the new JV firm will be pipe-laying and integration of pipeline systems, offshore heavy lifting and installation, subsea tie-in and underwater maintenance, as well as barge and vessel management and chartering.The JV Company will be held by Hilong Marine Engineering and SOC as to 51% and 49%…

21 Feb 2019

DIS Sells a Tanker

The international marine transportation company d’Amico International Shipping (DIS) announced that its joint venture (JV) company DM Shipping (DMS)  signed a memorandum of agreement for the sale of its product tanker vessel MT High Strength  for a consideration of USD 16.4 millionThe 46,800 dwt MR tanker is , built in 2009 by Nakai Zosen Corporation, Japan. DMS is a JV with the Mitsubishi Group, in which d’Amico Tankers (Ireland) holds a 51% participation.MT High Strength will continue its current time-charter out contract with d’Amico Tankers until October 2019, said the product tanker market operator.This transaction allows DM Shipping to generate around US$ 12.3 million in cash…

19 Feb 2019

Nakilat, McDermott Form Fabrication JV

Qatar's Nakilat and McDermott are establishing a 60:40 joint-venture (JV) company that provides offshore and onshore fabrication services in Qatar."The strategic partnership aims at increasing productivity levels at Nakilat’s world-class Erhama Bin Jaber Al Jalahma Shipyard and developing local construction capabilities to support the increasing demand for the construction of offshore and onshore structures in Qatar," said the Qatari marine company providing the essential transportation link in the State of Qatar's LNG supply chain.The agreement was signed in the attendance of His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs…

18 Jan 2018

Ocean Network Express Completes Merger Approvals

South Africa’s competition watchdog becomes final signatory allowing Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ),  Nippon Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can start operations on April 1. "K Line, MOL and NYK have  announced that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required for the launch of service by the newly established joint venture company," said a press statement. The green light makes ONE the sixth-largest ocean carrier.

13 Aug 2017

DP World Forms JV with Egypt’s Suez Canal

DP World, has formed a joint venture (JV) company with Egypt’s General Authority for the Suez Canal Economic Zone. The new venture will see the global terminal operator assist in developing projects in the SCZone, the main trade route between Europe and Asia, serving more than 8% of annual global trade. The new venture will develop projects in the Suez Canal Zone, one of the most promising trade zones given the calibre of its logistics facilities and its strategic location. The announcement of the joint company came during Egyptian President Abdel-Fattah El-Sisi's meeting today with DP World Chairman and CEO, Sultan Ahmed bin Sulayem, and the Chairman of the Suez Canal Authority, Mohab Mamish.

25 Nov 2015

Swan Energy to Invest $845 mln for FSRU Terminal

Swan Energy Limited will invest around Rs. 5,600 crore ($845 mln) towards setting up of Jafrabad LNG Port project in Gujarat with one jetty-moored Floating, Storage and Regasification Unit (FSRU). The joint venture project by Swan Energy Limited (SEL) and its Belgium partner Exmar Marine N.V. will be the country's first jetty-moored FSRU. Swan Energy holds 51 per cent stake in the JV company, Swan LNG Pvt Ltd, while Exmar Marine and Gujarat-government's Gujarat State Petroleum Corporation (GSPC) hold 38 per cent and 11 per cent respectively. To be commissioned in January 2019, the Jafrabad LNG Port will see a 5 MTPA receiving terminal…

17 Sep 2015

Sanmar Built Vessel Join Svitzer’s Fleet

Sanmar Shipyard Tuzla has built M/T Svitzer Amstel (Boğaçay XII) will join Svitzer’s fleet at the Port of Amsterdam, The Netherlands. The vessel measures 24.4m x 11.25m with a 60 tonne bollard pull derived from a pair of 3512 C Caterpillar engines, each developing 1,765kW at 1,800 rev/min. connected to Rolls Royce azimuthing thrusters of US 205 FP type. Sanmar has delivered two sister vessels to Svitzer in 2014 named as Bogacay II and Svitzer Tyne. Last month Svitzer signed a newbuilding contract with Sanmar Shipyard in Turkey for the construction of six vessels, with delivery of the first one to be expected in Q4 2016. The vessels are being built to fulfil for Svitzer’s commitment to current and upcoming new contracts in various terminal towage markets.

03 Mar 2013

Subsea Arctic, Black Sea: Technip Signs Russia J/V's

Technip signs two agreements with State Corporation Russian Technologies (Rostec) for subsea equipment production. Technip and RT-Chemcomposite Holding Company, a Rostec subsidiary, signed a memorandum of understanding to express their intention to form a joint-venture (JV) company for subsea activities in Russia. Under the terms of this memorandum, the joint venture is a cooperation in the production of equipment for the oil and gas industry and in particular flexible composite pipes based on Technip’s technology. It allows to produce oil and gas at the depth of down to 3,000 meters and provides for speedy pipe laying operations. They will also intend to evaluate the possibility of establishing a research and development center.

15 Aug 2012

Teekay, KOTUG JV In Australian Towage Market

Teekay Shipping Australia Pty Ltd. (Teekay) and KOTUG International B.V. The Netherlands (KOTUG) today announced the establishment of a new Joint Venture (JV) company, called KT Maritime Services Australia Pty Ltd, to pursue new business opportunities in the Australian towage market. “We believe there are new opportunities for trusted and experienced companies like Teekay and KOTUG to provide superior towage services at existing and greenfield terminal developments,” commented Ard-Jan Kooren, CEO of KOTUG. “The JV between Teekay and KOTUG will bring together complementary skills from each partner. At KOTUG, we have many years of practical and technical experience in the towage field, including the deployment of our highly maneuverable RotorTug technology.

07 Jun 2012

Singapore's Swiber Win Major Offshore Contracts

These awards include offshore construction projects and vessel chartering services in the Asia Pacific region. In addition, it has received a letter of award (“LOA”) through its JV Company to charter out a spread of support vessels in the Middle East. Swiber’s contract wins in the Asia Pacific region include projects for engineering, procurement, and installation of pipelines, umbilicals, and subsea systems; and transportation and installation of wellhead structures and associated pipelines. In addition, the Group will provide vessel chartering services in the region. Work for these projects will commence immediately this year and will carry on into 2014.

29 Sep 2011

Polarcus Alima travels the Northern Sea Route

One of the X-BOW vessels designed by ULSTEIN, the seismic vessel ‘Polarcus Alima’, recently transited to Asia-Pacific via the Northern Sea Route (NSR). This is the first known passage of a 3D seismic vessel along the Northern Sea Route. Her passage commenced on September 15 from Hammerfest in Norway after completion of seismic operations in the Barents Sea. After only nine days and 3,000 nautical miles the vessel reached Cape Dezhnev in the Bering Straits. She is presently continuing her onward passage to New Zealand to commence operations there.

18 Apr 2011

Keppel & Seafox Group’s MPSEP SEAFOX 5 Secures First Job

The KFELS MPSEP vessel will be deployed for foundation works at DanTysk in the German Sector of the North Sea, starting 4Q2012. Keppel FELS Limited (Keppel FELS) is pleased to announce that a contract from the joint-venture Aarsleff Bilfinger Berger (ABJV) Dan Tysk, worth in excess of EUR 35 million, has been secured for SEAFOX 5, the KFELS Multi-Purpose Self-Elevating Platform (MPSEP) wind turbine installation vessel owned and managed with the Seafox Group. The customer ABJV DanTysk has an option to extend the charter by an additional 90 days. Keppel FELS is on track to complete the construction of SEAFOX 5 in the second half of 2012.

02 Aug 2010

Keppel's New Wind Turbine Installation Vessel

Photo courtesy Keppel FELS

The Offshore arm of Keppel FELS has commercialized its new wind turbine installation vessel design for deeper waters in partnership with leading fleet owner and operator Seafox Group. Keppel FELS Limited’s (Keppel FELS) multi-purpose self-elevating platform (MPSEP) design has been chosen by the Seafox Group (Seafox) as the basis for a new-generation, wind turbine installation vessel that can withstand harsh offshore environmental conditions all year round in water depths of 65 metres in the North Sea.

25 May 2007

Golar LNG Announces Q1 Results

Golar LNG reports its highest ever quarterly net income at $53.3 million for the three months ended March 31, 2007, as compared to $36.6 million for the three months ended December 31, 2006. These results include the gain on the sale of newbuilding DSME Hull 2244 of $41.1 million. Operating income was also increased at $58.6 million for the first quarter as compared to $40.4 million for the fourth quarter. Revenues have been negatively impacted by a generally weaker spot market for trading LNG ships during the first quarter. Two of Golar's six vessels exposed to the spot market were fixed throughout the period at good rates, but this was offset by two of the other vessels suffering extended periods of idle time.