Local Subsidiary News

The world's top passenger port is installing a network shore power systems for cruise ships that, once completed, will be the largest of its kind globally.PowerCon said it has been tapped as a subcontractor to deliver five systems that will supply shore power for cruise ships at PortMiami's V (Virgin), F (Carnival), A (Royal Caribbean), B (Norwegian Cruise Line) and MSC Cruise Line terminals.The Denmark-based engineering and manufacturing company said it has established a local subsidiary…

The Saudi Ports Authority (Mawani ) has issued a license to the local subsidiary of Maersk in order to operate in all ports across Saudi Arabia.According to the state news agency SPA, the step comes along with the authority’s strategy to improve the efficiency and quality of performance and services offered in Saudi ports.The new Maersk shipping license is the fourth of its kind to be issued to foreign investors in the Kingdom. Maersk joins other major lines of Barwil, Hapag-Lloyd and the Mediterranean Shipping Company, already operating.Saad Abdul Aziz Al-Khalb, President of the Saudi Ports Authority, (Mawani) commented that “We have issued a license to Maersk (Saudi Arabia) to operate in all 9 Saudi ports.

With India’s high economic growth and the improvement of container market, Hyundai Merchant Marine (HMM) has been aggressively expanding its sales activities within the region. HMM currently operates seven services and ten vessels between Asia-India, and its export volume from India last year increased almost 70% year-over-year. With the continuous growth of Indian market, HMM – as Korea’s first shipping carrier – has established India’s local subsidiary company in 2005 and has elevated its status as a ‘subsidiary’ to ‘Headquarter’ last September. HMM held its invitational event for its VVIPs in Mumbai, India recently. It was held to further enhance the communication between its valued customers, the event took place at St.

Australian defence officials warned French naval contractor DCNS to beef up security in Australia, where it is preparing to build a A$50 billion ($38.13 billion) fleet of submarines, in the wake of a massive data leak, a government spokesman said on Friday. DCNS was left reeling after more than 22,000 pages outlining details relating to submarines it is building for India were published in The Australian newspaper earlier this week, sparking concerns about its ability to protect sensitive data. A senior Australian defence official, acting on orders from Defence Industry Minister Christopher Pyne, warned DCNS that the government was deeply concerned by the implications of the leak, a spokesman for the minister told Reuters.

Today Mitsubishi Heavy Industries America, Inc. (MHIA), a Group company overseeing the business of Mitsubishi Heavy Industries, Ltd. (MHI) in North America, commenced full-scale operations at its newly relocated Head Office in Houston, Texas, following a move from its previous base in New York. MHIA held a reception at Rice University today to mark the occasion in the presence of guests including The Honorable Greg Abbott, Governor of Texas. Present at the reception, MHI President & CEO Shunichi Miyanaga offered the following remarks: "I am delighted that we have been able to set up a new base in Houston to better serve our customers and oversee our Group operations in North America.

Brazil's Santos port authority has decided to reduce the drafts on some terminals, including the ones operated by Noble Agri, a local subsidiary of Asian commodities trader Noble Group, and Copersucar due to excess sediment, two shipping agencies said on Monday.   The reductions vary from 0.30 to 2 meters, possibly reducing ship loading capacity at the terminals, the agencies said.     (Reporting by Gustavo Bonato; Writing by Marcelo Teixeira; Editing by David Gregorio)

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited  through its local subsidiary AziBras Exploração de Petróleo e Gás Ltda. Following completion of this agreement, which is subject to the approval of the Brazilian authorities, AziLat will hold a 25% equity interest in Chariot's BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 blocks in the Barreirinhas Basin, in return for paying 50% of the 3D seismic acquisition and processing costs to be incurred across these blocks. Chariot will remain Operator with a 75% equity interest. AziLat is a subsidiary of the Azimuth Group.

Two executives from offshore drilling contractor Noble Corp have agreed to settle civil claims they participated in a bribery scheme to obtain permits for oil rigs in Nigeria, days before the case was set to go to trial. Jury selection had been scheduled for next Monday in the U.S. Securities and Exchange Commission's case against Mark Jackson, Noble's former chief executive officer, and James Ruehlen, director of the oil and gas services company's Nigerian subsidiary. The two men were sued under the Foreign Corrupt Practices Act (FCPA), which bans U.S. companies from bribing foreign officials. A federal judge in Houston called off all trial deadlines on Tuesday pending a final settlement. The terms, which must be approved by a judge, were not disclosed in court papers.

Mitsubishi Heavy Industries, Ltd. (MHI) changed the name of its subsidiary in Almere, the Netherlands, which handles its turbocharger and engine businesses in Europe from the previous "MHI Equipment Europe B.V." to "Mitsubishi Turbocharger and Engine Europe B.V." In tandem with the changeover, the renamed company will now further accelerate activities to expand its business not only in the European market, where demand is robust, but also in newly emerging markets such as Africa.

For more than 35 years, Advanced Subsea (AS) has been deeply involved in marine technological innovation. Through steady research and partnerships with research institutes in France and Brazil, Advanced Subsea has been developing new tools, procedures and methods for monitoring oceanographic and meteorological parameters. AS is an independent French company specialized in deep water subsea construction support and services with its head office in Paris and support offices in Houston, Luanda and Rio Janeiro. Advanced Subsea’s Modeling & Forecast Services are based on a partnership between Advanced Subsea SAS & LEGOS – CNRS Laboratory for Geophysics & Spatial Oceanography.

Dutch Koninklijke Boskalis Westminster NV bought fellow dredger Dragapor from the Portuguese government. The unit, which was put up for sale in December, will be merged with Boskalis' local subsidiary Sociedade Portuguesa de Dragagens Lda. No financial details of the deal were disclosed. Dragapor has about 20 employees and a fleet consisting of two dredgers, some barges, a cutter suction dredger, a hopper dredger and a lift barge. Boskalis, the world's largest dredger, said the acquisition would be of economic importance to its position in southern Europe and fitted its policy of home market positioning. Earlier this year, Boskalis launched a 643 million euro ($620 million) hostile bid for Dutch construction and dredging firm Hollandsche Beton Groep (HBG).

Norwegian shipbuilding company Aker Promar plans to invest $45.7m in building a new shipyard in the northern region of Rio de Janeiro state, the state government announced. U.S. offshore support company Edison Chouest will invest through local subsidiary Alfanave in the construction of an offshore support base in the same region close to the town of Quissama and Brazil's oil industry hub of Macae. The companies set the foundation stones on Tuesday. This will be Aker Promar's second shipbuilding facility in the country. The new shipyard will be large enough to build and carry out maintenance on large ships and oil production platforms.

Former U.S. President Jimmy Carter symbolically placed the Panama Canal into Panamanian hands last Tuesday with the simple words, "it's yours," granting the tiny Central American nation sovereignty over all its territory for the first time since its birth in 1903. "Today we are gathered in the spirit of mutual respect, acknowledging without question the full sovereignty of Panama," Carter told hundreds of Panamanian and foreign dignitaries gathered under a light rain at the Miraflores Locks at the Canal's Pacific entrance. In what Carter and Panama President Mireya Moscoso called a pivotal moment in the history of the hemisphere, the two leaders signed a symbolic accord marking the Canal's passage to Panama. Under the 1977 Panama Canal Treaties brokered by Carter, the U.S.