Intermarine To Add 15 New Vessels
As part of its ongoing commitment to provide the highest level of service to its heavy lift and project cargo customers, Intermarine, LLC (Intermarine) is adding 15 new vessels to their fleet. “We are launching our fleet renewal program with long term charters on a series of new vessels from Sanfu Shipyard & Huanghai, two of the foremost builders of ships in China. These state-of-the-art, fuel-efficient, eco-friendly new builds further enhance and validate our commitment to being a high quality partner and operator in heavy lift/project transport.
Döhle, Costamare JV ‘Blue Net Chartering’ Operational
Germany's Peter Döhle and Greece's Costamare are merging operations of their container ships in a new joint venture (JV) named dubbed Blue Net Chartering headquartered in Hamburg. Blue Net Chartering will serve the container fleets operated by both as well as third-party vessels. It will provide brokerage services for 220 box ships with an aggregate capacity of 1.1M TEU. The official launch took place on 1 February. According to Costamare, the Blue Net Chartering aims to provide “best-in-class employment opportunities for containership owners.
Igor Sechin Held Negotiations in Venezuela
Rosneft President Igor Sechin held talks with the Minister of Popular Power for Oil and Mining and President of Petróleos de Venezuela, SA (PDVSA ), Rafael Ramirez Carreno. The parties discussed a wide range of issues regarding current cooperation between the companies, Rosneft activities in Venezuela and the outlook of development of new projects. Currently Rosneft and PDVSA cooperate in the realization of 5 Joint Ventures in the upstream sphere in Venezuela. Project Carabobo-2,4 (JV Petrovictoria). JV PetroMonagas. Project Junin-6 (JV PetroMiranda). JV Boqueron. JV Petroperija.
Major Offshore Wind Turbine Manufacturers Form Joint Venture
Industry majors, Gamesa and Areva, have announced exclusive negotiations to create a 50/50 joint-venture company in the field of offshore wind power. The principals consider that the offshore market represents one of the most promising areas for the development of renewable energies over the next decade, particularly in the coastal countries of northern Europe, where the installed base should reach over 25 GW by 2020, and in Asia. The two companies believe that by joining forces they will become leading players in the global offshore wind market.
Saudi Aramco, Hyundai Heavy Sign MoU
Saudi Aramco, Dussur – the Saudi Arabian Industrial Investments Company, and Hyundai Heavy Industries (HHI) announced a Memorandum of Understanding (MOU) to jointly collaborate on engines and pumps business development in the Kingdom of Saudi Arabia. The MOU lays out an engine and pump business cooperation framework, through the formation of a joint venture (JV) to manufacture two-stroke engines, four-stroke engines and marine pumps; including sales and aftersales services in the MENA region.
Maersk Analysts Strike Cautious Tone
Analysts believe results and outlook in the final quarter report of Maersk (Feb. 9) might be weighed down by consolidation effects from the Hamburg Sud deal and the market situation in China. Morgan Stanley says integration expenses related to the deal would limit profitability contribution in 2018 and that Maersk Line will return to peak EBIT margins in 2020. Jyske Bank, which keeps rating "sell" for the company, sees a potential threat to Maersk Line Q4 volumes and EBITDA from significant cuts in China's import of waste materials.
Rolls-Royce & Hispano-Suiza MoU for Transmission Systems
Rolls-Royce and Hispano-Suiza (Safran) have signed a Memorandum of Understanding (MoU) to establish an exclusive long term joint venture (JV) for the development of world-leading accessory drive train transmission systems. The new business will be a 50:50 JV which addresses the entire product lifecycle of Rolls-Royce civil aero engine applications. The JV will have activities in France, UK and Germany, as well as a competitive production facility. The headquarters will be in France. The JV will call on the complementary resources and expertise of its two parent companies.
Shanghai MHI Begin Diesel Engine Production
Shanghai MHI Engine Co., jointly established by Mitsubishi Heavy Industries, Ltd. (MHI) & Shanghai Diesel Engine Co. (SDEC) now manufacturing. Shanghai MHI Engine was established this February based on a JV agreement signed in March last year between MHI and SDEC. The JV is capitalized at 200 million yuan (approx. 3 billion yen), with ownership divided equally between the two companies. It manufactures industrial-use diesel engines with power outputs in the 500 to 1,600 kW range under a manufacturing and marketing license from MHI. Leveraging MHI's advanced technology in industrial-use diesel engines and SDEC's vast domestic networks in procurement…
Shanghai MHI, JV with Shanghai Diesel Engine Begin Operation
Shanghai MHI Engine Co., Ltd., a manufacturer and marketer of diesel engines jointly established by Mitsubishi Heavy Industries, Ltd. (MHI) and Shanghai Diesel Engine Co., Ltd. (SDEC) – a Chinese diesel engine manufacturer – has launched operation. The JV aims to establish a solid position in the Chinese market for industrial-use diesel engines by building up market share through more competitively priced products. To celebrate the commencement of operation, Shanghai MHI Engine held an opening ceremony at the company's site in Yangpu District, Shanghai.
Japanese Joint Venture on LNG Carriers
Mitsubishi Heavy Industries (MHI) and Imabari Shipbuilding jointly establish the MI LNG Company, Limited. Through establishment of the JV, the two companies aim to proactively prepare a structure capable of responding to large-scale LNG carrier construction projects, which are expected to increase in tandem with expanding global demand for LNG. By combining MHI's technology development capabilities and Imabari Shipbuilding's cost competitiveness, supported further by the effective management of their respective shipyards…
Coast Guard Rescues Three from Sinking Tug
A boat crew from Coast Guard Station Port O'Connor rescued three men off the sinking tug, Charles Alfred, May 27 in San Antonio Bay, approximately six miles south of Seadrift, Texas.The crew of the Charles Alfred contacted the Coast Guard at 9:25 p.m. and reported that they were sinking. Two boat crews from Station Port O'Connor, Texas, and a helicopter crew from Air Station Corpus Christi, Texas, responded. The three crewmembers were safely rescued from the tug and taken to Station Port O'Conner.The Charles Alfred was towing a barge, carrying 9,700 barrels of cyclohexane, alongside when it began to sink. The barge is keeping the tug from completely sinking. Both are in shallow water and are not blocking any ship traffic.
Morgan Stanley May Run Larger Tankers for Oil Trades
Morgan Stanley plans to expand its oil tanker business as global demand for crude rises, according to two people briefed on the discussions, according to Bloomberg. The company is considering operating suezmaxes, 1 million- barrel vessels that would be the largest Morgan Stanley controls, said the people, who declined to be identified because the plan is still being debated. The ships often haul crude from West Africa and the Black Sea to the U.S. and Europe. Morgan Stanley, which has traded crude oil since 1984, wants to bolster its shipping unit to compete with companies such as Glencore International AG and Vitol Group. The New York-based company purchased a tanker operator last year for $200 million.
MHI, Siemens Establish Production Machinery Joint Venture
Today Mitsubishi Heavy Industries, Ltd. (MHI) concluded an agreement with Siemens AG of Germany calling for the establishment of a joint-venture company (JV) in steel and metal production machinery effective as of January 2015 subject to regulatory approvals. According to MHI, the move has two aims: expansion of the product line in the steel and metal production machinery business and acceleration of globalization. The JV will swiftly take steps to put in place a structure enabling the provision of a full lineup of products involved in everything from upstream to downstream processes…
Ng Joins A/S Dan-Bunkering Ltd.
A/S Dan-Bunkering Ltd. Shanghai Rep. Office is pleased to announce that as of 12 August 2013, Alfred Ng has been employed as Marketing Executive. Alfred is originally from Guangzhou, China, and has been working with different parts of the bunker business since 2009. He has joined the team in Shanghai which now consists of 9 employees.
POSH Terasea Forms World’s Largest and Youngest Fleet
PACC Offshore Services Holdings (POSH), through its EPIC division, has announced the formation of a joint venture company POSH Terasea Pte Ltd with Terasea Pte Ltd (Terasea). POSH will contribute to the JV a fleet of five specialized Anchor Handlers (12000BHP to 13500BHP) while Terasea contributes four units of newbuilding modern deepwater 16000BHP Anchor Handlers, to be delivered successively over the next 11 months. With this merger, Posh Terasea will operate the largest and youngest fleet of vessels for the ocean towage market.
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. Under the terms of the JV Agreement, COM and AOME respectively will hold 51% and 49% equity interest in ARPL, making ARPL as indirect subsidiary of the Company.
Bharati Shipyard, Apeejay Shipping Enter JV
Mumbai-based Bharati Shipyard and Apeejay Shipping have signed a 50:50 joint venture agreement for setting up large modern shipbuilding yard along the eastern coast. According to sources at Bharati Shipyard, they are in the process of finalizing the site and will be able to announce the location in the coming weeks. The shipbuilding venture between a reputed shipbuilder and a leading shipping company is expected to commence operations by first quarter of 2009. Bharati and Apeejay would jointly invest in the state of the art technology and modern shipbuilding and ship repair facilities and would have the capacity to build and repair vessels of all sizes up to VLCC. The JV will see an investment of Rs 2,000 crore in the new shipyard.
PDVSA Sees Shell, Mitsubishi LNG JV Deal
PDVSA expects to sign a final JV deal with Royal Dutch/Shell Group and Mitsubishi Corp. to develop the $2.7B Mariscal Sucre LNG project by the end of Nov.2003. PDVSA recently decided to use Shell's gas liquefaction technology in the project.
TOTAL & LUKOIL To Develop Tight Oil In Bazhenov
Total signed today an agreement with Lukoil creating a joint venture (JV) to explore and develop the tight oil potential of the Bazhenov play in Western Siberia. Total will hold 49% of the JV and Lukoil 51%. This agreement finalizes the memorandum of understanding signed between the two companies in December 2013. The JV will assess the technical feasibility of developing the tight oil potential of the Bazhenov formation initially on 4 licenses covering an area of 2,700 km² in Khanty-Mansi Autonomous District. Seismic acquisition will start in 2014 and exploration drilling will follow in 2015.
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.
Ceona, Seaweld Form Ghana Partnership
Ceona, SURF contractor with heavy subsea construction capabilities, has entered into a Joint Venture (JV) with Seaweld Engineering which will act as a strategic partner for offshore deepwater construction projects in Ghana. The JV allows Ceona to extend its operations in West Africa and build upon the success it has already achieved in the region. The agreement will see Seaweld Engineering supporting Ceona in delivering its full line of products and expertise in Ghana. The companies…
Rosneft, Pietro Barbaro JV Enters Global Shipping Markets
Russia's Rosneft and Italy's shipping company Pietro Barbaro have agreed to jointly develop international sea freight operations, as the oil group has been aiming to expand its shipping business. Rosneft (represented by RN-International projects) and Pietro Barbaro S.p.A. have signed an agreement to establish a Joint Venture (JV) for international sea freight at the ХХ St. Petersburg International Economic Forum. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Pietro Barbaro Group owner Giovanni Barbaro.
Singapore Approves Japan Shipping JV
The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines. Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK), announced last year an integration of their container shipping business with the establishment of a joint venture by 1 July 2017 and the commencement of joint servce from 1 April 2018. Under the JV, the Parties will merge their container liner shipping business, and their container terminal services businesses outside Japan.