Sumitomo And Mitsui Finalize Merger Conditions
Sumitomo Marine & Fire Insurance Co. and Mitsui Marine & Fire Insurance Co. on Tuesday announced terms under which they will merge next October, creating Japan's largest non-life insurer with assets of 5.7 trillion yen ($51.6 billion). In a joint statement, the companies said 1.09 Mitsui Marine shares will be allocated for one Sumitomo Marine share. The merged entity will be named Mitsui Sumitomo Insurance Co. with Mitsui Marine president Takeo Iguchi and Sumitomo Marine president Hiroyuki Uemura serving as co-chief executive officers. Mitsui Marine, currently Japan's third-largest casualty insurer, and fourth-ranked Sumitomo Marine agreed to merge in March. The merged entity will surpass is size current Japanese casualty insurance industry leader Tokyo Marine & Fire Insurance, which has assets of 5.37 trillion yen. Sumitomo Marine's shares on Tuesday closed down 18 yen or 2.44 percent at 721, and Mitsui Marine's closed down eight yen or 1.22 percent at 646. The merger terms were announced after the close of trading.
MN 100: Donjon Marine Co., Inc.
100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812 Email: firstname.lastname@example.org Website: www.donjon.com President & CEO: J. Arnold Witte The Company: Donjon Marine Co., Inc. offers the marine community full-service solutions to meet every need in the field of marine salvage, dredging, material recycling and related services. Founded in 1964, Donjon Marine’s principal business activities were marine salvage, marine transportation, and related services
ZF Marine Named Supplier of the Year
ZF Marine has been chosen as one of Mercury Marine’s suppliers of the year. Each year Mercury Marine evaluates over 1,500 suppliers, and selects only 12 to receive this award. AJ Halavacs, Pleasure Craft Segment Manager, and John Shea, Account Manager, both from ZF Marine were on hand to receive the award from Mercury Marine. It was presented last month at the Mercury Marine Supplier Conference in Sarasota. Fla
PFI Marine Electric in Dutch Harbor Year Round
Pacific Fishermen Shipyard and Electric, LLC (PFI Marine Electric) announced that it will now be providing year round marine electrical services in Dutch Harbor, Alaska, as well as the Puget Sound area, maintaining marine electricians on site 24/7. Seattle’s PFI Marine Electric shares facilities with Dutch Harbor’s Lunde Marine Electronics to provide marine electrical services in Alaska along with Lunde Marine’s electronic services
Drew Marine Acquires Chemring Marine
Affiliates of Drew Marine (“Drew Marine”) have reached a definitive agreement with Chemring Group PLC (“Chemring”) to acquire Chemring’s maritime interests (“Chemring Marine” or the “Company”) for a cash consideration of £32 million, subject to standard closing adjustments. Under Drew Marine’s ownership, the business will be named Drew Marine Signal and Safety (“DMSS”).
MN100: Cummins Marine, Inc.
The Company: Cummins, Inc. is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Cummins has also created a dedicated Cummins Marine organization within the existing Engine Operating Segment. By consolidating its commercial and recreational teams
Jurong Shipyard Chooses AVEVA Marine
AVEVA Group plc (LSE:AVV), providers of engineering design and information management solutions for the plant, power and marine industries, announced that Jurong Shipyard, a subsidiary of Sembcorp Marine has selected AVEVA Marine (12 Series) as their engineering and design solution for major marine and offshore projects. Jurong Shipyard has a long standing relationship with AVEVA. AVEVA Marine (12 Series), is the most modern offering of AVEVA’s marine solutions and has the ability
Orion Marine Wins Caribbean Offshore Mooring Contract
Orion Marine Group, Inc. headquartered in Houston, Texas, announce award of a contract which is worth approximately US$14-million. The contract is for the design and construction of offshore mooring facilities for a liquids terminal in the Caribbean. The project is expected to commence in the 4th quarter and to last approximately 12 months. Orion Marine Group, Inc. provides a broad range of marine construction and specialty services on, over and under the water along the Gulf Coast
Reflex Marine Launches Service Center
Reflex Marine, producer of the industry-leading Frog and Toro personnel carriers and expert in marine personnel transfer, continues to expand its global network of Accredited Service Centres (ASCs) with the launch of its latest Center in Canada. Nord Marine Services Ltd, a supplier of marine safety equipment, has been appointed to operate the new Accredited Service Center in Mount Pearl, Newfoundland. As a result Canadian operators will be able to access local maintenance
IMUA Names Award-winning Marine Underwriter
Gina Domitrovich, AMIM, Senior Marine Underwriter, AIG Global Marine & Energy, is the first recipient of the new American Marine Claims Award, by Inland Marine Underwriters Associations (IMUA). The award presentation was made closing ceremonies during IMUA"s 83rd Annual Meeting held in Buckhead, Atlanta, GA. As the winner of the American Marine Claims Award, Ms. Domitrovich will receive a $2,000 cash award and a stipend towards attendance at the International Marine Claims
New BWTS for Big Bulk Carriers
U.K.-based ballast water treatment systems (BWTS) manufacturer Coldharbour Marine has launched a new treatment process designed specifically for large dry bulk vessels and ore carriers. The system uses the company’s existing inert gas based GLDTM treatment plant to meet the needs of large bulk carriers, which often ship large volumes of ballast water in upper wing tanks and discharge it directly into the sea.
The Complicated Business of Marine Construction Worker Claims
The right insurance policy could help you stay above water after a workplace incident. The day-to-day job of marine construction workers has many potential hazards. While restoring shorelines, dredging harbors, repairing bridges and building docks, they often operate heavy machinery. Manning cranes, forklifts and excavators day or night, it is not uncommon to work in sweltering heat, freezing cold temperatures and an array of other challenging weather conditions
Webb Institute Senior Awarded Crowley Scholarship
Crowley Maritime Corp. has awarded a Thomas B. Crowley Sr. Memorial Scholarship to Tyler Gray-Hoehn, class of 2018 at the Webb Institute, a highly-selective undergraduate institution in Glen Cove, N.Y., specializing in naval architecture and marine engineering. Gray-Hoehn, who hails from Brookfield, Wisc., was recognized for his dedication, academic excellence and leadership as a student Webb. He is senior class president and vice president of the Webb Institute’s
Arab Women in Maritime Association Launched
A ground breaking event took place in Alexandria, Egypt (15-19 October) when 30 women from nine Arab countries officially launched The Arab Association for Women in the Maritime Sector (AWIMA). The new network joins the International Maritime Organization (IMO) family of regional Women in Maritime Associations (WIMAs), giving visibility and recognition to the role women play as key resources for the maritime sector.
Mackay Communication, Inmarsat Partner
Mackay Communications Inc., a worldwide marine electronics and airtime service provider, has announced it has signed a partner agreement with Inmarsat (LSE: ISAT.L) to distribute its award-winning Fleet Xpress service to the global maritime market including deep sea vessels, commercial fishing, oil and gas, defense, and cruise-passenger lines. Mackay will offer a complete end-to-end Fleet Xpress package including the full range of Fleet Xpress airtime service options and choice of approved
Semi-submersible Crane Vessel Hermod Retired
Heerema Marine Contractors said its semi-submersible crane vessel Hermod will retire at the end of this year after nearly 40 years of operational performance. Designed and constructed in the 1970s, Hermod and sister vessel Balder were the first semi-submersible crane vessels of their kind in the offshore construction industry. The semi-submersible concept was developed with the aim to extend the operability in the harsh North Sea environment and furthermore to deliver superior
St. Lawrence Seaway Cargo Volumes Buoyant
As marine shipping continues to support the growth of the Canadian and U.S. economies, St. Lawrence Seaway cargo shipments to-date for 2917 are 14 percent ahead of 2016 volumes. Total cargo tonnage from March 20 to September 30 reached 24.3 million metric tons – 3 million metric tons more compared to the same period in 2016, according to The St. Lawrence Seaway Management Corporation. “Our results point to the strength of the Canadian and U.S. economies
Solstad Farstad Sells 22-year-old PSV
Farstad Marine AS, a wholly owned subsidiary of Solstad Farstad ASA, said it has sold the 1995-built platform supply vessel (PSV) Far Service. The 4,683 DWT vessel was delivered to its new owner October 3, 2017. Solstad Farstad said the sale will result in an immaterial accounting effect for Q4 2017.
Wärtsilä Dual-fuel Engines for LNG Carrier Newbuilds
Wärtsilä, through its joint venture company CSSC Wärtsilä Engine (Shanghai) Co (CWEC), has been contracted to deliver 16 engines for four new LNG carrier vessels being built at the Hudong Zhonghua shipyard in China. The order was booked in August 2017. Each of the four 174,000 m3 capacity vessels will be fitted with four Wärtsilä 34DF dual-fuel generating sets running primarily on LNG fuel to provide the ships with auxiliary power
Alfa Laval’s PureSOx Tallies 100+ Installs
To date, a total of 109 vessels have been installed with Alfa Laval PureSOx platform for compliance with IMO SOx emissions regulations. With more than 75 PureSOx systems in operation today, Alfa Laval claims to have the marine industry’s most extensive list of reference installations for any single SOx scrubber technology. This represents every PureSOx commissioned since the first installation, including those on board a number of ships in the fleet of Danish company DFDS
Marine News Boat of the Month: October 2017
RIBCRAFT delivers new 41’ model: robust, multi-nissioned and all-new RIBCRAFT recently introduced the all new 41’ RIBCRAFT 12.5 with the recent delivery of a specialized USCG Sub Chapter T Certified tour boat to a customer in New England. At 41’, the RIBCRAFT 12.5 is the newest and largest model in the RIBCRAFT model line. The ultimate offshore platform for tour operators, security and patrol operations, military applications, and discerning recreational boaters
John Deere Rolls Out Trio of Marine Engines
John Deere Power Systems has expanded its lineup with three new marine engines available for order from early 2018. The new 4.5L PowerTech 4045SFM85 offers high power to weight ratio for repowering and new vessel construction, and is ideal for planing and semi-displacement hulls, the manufacturer said. It has two ratings for light-duty commercial vessels, high-speed governmental applications and high-speed pleasure craft, which includes an M4 rating with 205 kW (275 hp) at 2
MOL Tabletop Drill Focuses on Car Carrier Safety
Mitsui O.S.K Lines (MOL) has announced that it conducted a tabletop drill based on an incident involving a car carrier managed by an MOL Group ship management company. MOL holds these drills periodically to confirm its emergency response system in preparation for serious marine incidents. The drill was held on Tuesday, October 17, 2017, with the goal of raising company-wide safety awareness through the simulated experience of a serious marine incident
Clean Marine Secures Multi-Vessel EGCS Contract
Clean Marine, developer of Exhaust Gas Cleaning Systems (EGCS), has secured a multi-vessel contract from Inventor Chemical Tankers AS (ICT). The agreement, covering seven 19,900 DWT chemical tankers, marks the launch of the firm’s CleanSOx Compact Hybrid Allstream scrubber to the marketplace. According to Clean Marine CEO Nils Høy-Petersen, the company has been exclusively dedicated to EGCS solutions since its inception in 2006
Helm CONNECT Secures ClassNK Type Approval
Canadian maritime software company, Helm Operations, a ClassNK subsidiary, sai dit has earned Class Type Approval for its planned maintenance software, Helm CONNECT. On September 1, 2017 after a detailed review process, Nippon Kaiji Kyokai (ClassNK), issued a Type Approval Certificate for Helm CONNNECT as a recognized planned maintenance software system. ClassNK is a member of the International Association of Classification Societies (IACS)