Pacific Radiance, Allianz JV in Middle East
Crest Offshore Marine (COM), the wholly owned subsidiary of Pacific Radiance, has entered into a Joint Venture (JV) Agreement with Allianz Offshore Middle East (AOME). According to JV agreement, both companies are jointly incorporating a company in Singapore known as Allianz Radiance (ARPL). ARPL has been incorporated on the same date. AOME is a company incorporated in Saint Vincent and The Grenadines.
COSCO (Dalian) Shipyard Delivers Flag Lama
COSCO (Dalian) Shipyard Co has delivered an bulk carrier, “FLAG LAMA”, to its European buyer, the company said in its press release. The delivery documents were signed by and between COSCO Dalian and the buyer recently. The bulk carrier measures 229 meters in LOA (length of all), 32.26 meters in breadth and 20.05 meters in depth. COSCO (Dalian) Shipyard is one of the core subsidiary enterprises of COSCO Shipyard Group.
COSCO Singapore Wins FSRU Deal
Cosco (Qidong) Shipyard Co, a subsidiary of Cosco Corp's 51 per cent subsidiary Cosco Shipyard Group Co, has entered into an agreement with a European buyer for the construction of the floating storage regasification unit (FSRU) module. Cosco Corp did not identify the European buyer. COSCO Qidong and the European buyer have agreed to keep the contract prices confidential. Delivery of the module is scheduled for the first quarter of 2018.
Marco Polo Seeks Protection from Creditors
The Board of Directors of Marco Polo Marine informed that PT Marcopolo Shipyard (PTMS), has filed an application to place itself under a Penundaan Kewajiban Pembayaran Utang (PKPU) suspension of debt payment plan in accordance with Law on Bankruptcy and Suspension of Debt Payment. On 18 May 2017 and pursuant to the PKPU application filed by PTMS, it was ordered, amongst others, that a temporary restraint of legal proceedings against PTMS be put in place for 45 days commencing from 18 May 2017.
Gulf Navigation Sails to Profit
Dubai-based shipping company Gulf Navigation Holding has reported a 39% growth in net profit at the end of the first quarter of 2017 compared to the same period in 2016. The result came at a stage while the company is witnessing a significant improvement in its performance, successful settlement of legal cases and entering into various global partnerships to strengthen its competitive position in the marine sector.
Ships Combine for Moreton Anniversary
In the middle an intense training and systems check period, HMAS Darwin slipped into the Brisbane River and berthed across from Navy’s home in southern Queensland, HMAS Moreton. The frigate’s arrival in Brisbane coincided with the first anniversary since the local base was re-commissioned. On arrival, Commanding Officer Darwin Commander Phillip Henry was met by the Commanding Officer Moreton, Commander Mark McConnell, who welcomed the ship to the city.
Martek Marine Hire Head of UAV Operations
Martek Marine announced the official appointment of highly-acclaimed aviation expert Paul Forster as their Head of UAV Operations. Paul brings over 30 years’ unparalleled aviation experience to Martek, in both high-profile operational and leadership roles. The drone industry is booming and Martek are the driving force behind the most disruptive and talked about Unmanned Aerial Vehicle (UAV) technology that's taking the market by storm!
McDermott, Saudi Aramco Sign MoU
McDermott International has signed another memorandum of understanding (MOU) with Saudi Aramco to expand and develop the company’s physical and human capital within Saudi Arabia as part of Aramco’s In-Kingdom Total Value Add (IKTVA) initiative. The MOU was signed as part of the first ever Saudi-U.S. CEO Forum. McDermott was the only engineering, construction, procurement, and installation (EPCI) services contractor attending the summit along with other major U.S. business leaders.
Maritime Expert Hails NIMASA for Removing Wrecks
The reported wrecks removal initiative by the Nigerian Maritime Administration and Safety Agency (NIMASA) has received wide commendations from industry player and Stakeholder in the maritime sector, Dr. Chris Asoluka. Speaking in Lagos recently, Dr. Asoluka, a former Chairman of Oil and Gas Free Zone Authority (OGFZA), noted that the efforts of the Dr. Dakuku Peterside led Management of NIMASA to reposition the maritime sector is a development long overdue.
Navy Christens USNS City of Bismarck
Austal celebrated the christening of Expeditionary Fast Transport ship USNS City of Bismarck (EPF 9) with a ceremony at its state-of-the-art shipyard on May 13. City of Bismarck is the ninth of 12 Expeditionary Fast Transport vessels (EPF) that Austal has under contract with the U.S. Navy as part of a contract worth over $1.9 billion. The ship’s sponsor, Congresswoman Jane Harman, headlined the group of officials…