Marine Link
Friday, January 19, 2018

Sign Joint News

Petrobras To Sign Joint Venture With Shell, Mobil And Exxon

Petrobras will reportedly sign an exploration and production contract with the local units of Shell, Mobil and Exxon.

Seaarland, Nordic Tankers Sign Joint Venture

Seaarland Shipping Management and Nordic Tankers signed a joint venture that will see both of these companies enter the Handysize product carrier market. The joint venture will involve investment in modern second-hand vessels as well as new buildings. The vessels will be jointly owned by both partners in varying proportions. The first acquisition by the joint venture, the 2000-built 35,820 dwt Hanne, is to be concluded soon. Seaarland will be fully responsible for managing the vessels which will be operated in the Handytankers pool, currently made up of vessels from Seaarland, Maersk, D'Amico, Motia and CST.

MARIS Signs Joint Agreement with COSCO/ENS

Maritime Information Systems AS (MARIS) has signed a Joint Development Agreement with COSCO/ENS to produce a range of low cost navigation and marine IT products for the world shipping market. The products, based upon proven MARIS technology, will be sold under both MARIS and COSCO/ENS badge names. China Ocean Shipping Company (COSCO) a national flag carrier of the People’s Republic of China, was established in Bejing in 1961 taking international shipping as its main line of business. COSCO has been the world’s fastest growing shipping company over the past decades. COSCO own and operate over 600 vessels of different types including container vessels, conventional vessels, timber carriers, refrigerated ships, passenger vessels, bulk carriers and oil tankers.

ABS & Vietnam Register Sign Joint Cooperation Agreement

ABS has signed an expanded agreement of cooperation with Vietnam Register (VR) covering the provision of a wide range of classification and statutory certification services. Christopher J Wiernicki, ABS President and Nguyen Van Ban, General Director of Vietnam Register signed the agreement at ABS’s Corporate Headquarters in Houston on Monday 14 May. The two societies had been operating under a more limited cooperative agreement, originally signed in 1994 and subsequently amended in 1999. A key element of the new agreement is a program that will be instituted by ABS to train and qualify VR surveyors to ABS standards. The agreement also…

LR Asia, China Classification Sign Joint Venture

Lloyd’s Register Asia signed an agreement to establish a joint venture with China Classification Society (CCS). The exclusive agreement was signed by David Moorhouse, Executive Chairman of Lloyd’s Register, and Li Kejun, President of CCS. The joint venture, to be based in Beijing, will enable the rapid roll out of a number of key products and services to the benefit of the maritime industry in China. Lloyd’s Register Asia is keen to introduce more of its established products and services into China, while CCS has a large Chinese client base and wishes to widen its portfolio. The agreement will make it possible for both parties to introduce relevant products and services, in Chinese, in a much shorter time than would otherwise be the case.

Shipbuilding Support from MHI for Sinopacific Newbuildings

Shipyard Sinopacific: Photo credit MHI

MHI will provide technological support to Sinopacific in the area of commercial vessel construction. MHI is currently promoting expansion of its engineering business mainly through licensing of technology, while Sinopacific is taking steps to strengthen its shipbuilding business through introduction of technologies from advanced shipbuilders. The respective aims of the two companies thus coincide. As their first collaborative work, the two firms will jointly develop an 82…

OOPS and Ulysses Systems Sign Joint Agreement

O'Brien Oil Pollution Service, Inc. (OOPS) and Ulysses Systems, Inc. have signed an agreement to jointly market their maritime consulting services and Ulysses' Task Assistant(TM) applications software for the marine industry. OOPS will continue to provide clients with vessel management plans, procedures and best practices that enhance the quality, environmental and safety operations on-board. Implementing these plans with the Task Assistant(TM) will make them much more readily available and accessible to the people who need to see them on a daily basis. "From our perspective, Ulysses' technical solutions will assist our clients in becoming more efficient and productive in managing the large amount of information necessary to meet today's regulatory requirements for vessel operations…

UK’s North Sea Faces Rig Shortage

The government is putting together an action plan to solve a rig shortage crisis in the North Sea, but experts claim that no new rigs are available for hire until the end of 2007, the Sunday Herald reported. Surging demand for equipment is caused by the high oil price, which has made previously abandoned discoveries economically viable again. The shortage of exploring rigs has forced the industry and the Department of Trade and Industry to come up with a plan, yet to be published, which involves the sharing of rigs. Mobile rigs are used to drill for oil and assess the extent of a find. Rigs, which sat disused in the Moray Firth three years ago, in a flat exploration market, are now the hottest properties on the sea.

Saudi Aramco Shipyard Joint Venture Appoints CEO

(Photo: Saudi Aramco)

Saudi Aramco and its partners have appointed Fathi K. Al-Saleem as chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. The state-owned oil giant said in a statement on Friday that International Maritime Industries (IMI) had been officially launched in partnership with National Shipping Co of Saudi Arabia (Bahri), engineering firm Lamprell Plc, and South Korea’s Hyundai Heavy Industries Co.

Bahri Dry Bulk Secures Newbuild Finance

New vessels being built by Hyundai Mipo Dockyard will be used to cater to the growing demand for the import of essential grains into Saudi Arabia. Photo: Bahri Dry Bulk

Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia. The fund is to finance the purchase of four new bulk carriers as part of an agreement signed by the company‎ in 2017 with Hyundai Mipo Dockyard (HMD), a member of Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding company based in South Korea.

Companies Sign Joint Contract with ConocoPhillips

Bay-Houston Towing Co., Suderman & Young Towing Co. LP, and Moran Towing Corporation are pleased to announce they have jointly contracted with the ConocoPhillips Company to provide harbor tug services for LNG vessels calling at the Freeport LNG terminal, currently under construction in the Port of Freeport, Texas. Bay-Houston and Suderman & Young will each provide one 6300 hp Z-Tech tractor tug while Moran Towing Corp. will provide a 5100 hp ASD tractor tug. ABS Escort Service; and ABS Fire Fighting Vessel Class 1. Galveston, Texas will operate the three tugboats. The tugs will deliver a combined bollard pull in excess of 235 short tons. The Z-Techs are powered by two Caterpillar 3516C HD engines providing 6300 hp (4700 kw). Schottel Model SRP 1520 Z-drives.

Azerbaijan, Russia Introduces New Cruise

Photo: Azerbaijan Caspian Shipping

The Chairman of Azerbaijan Caspian Shipping Company (ACSC) Rauf Veliyev and Konstantin Anisimov, the General Director of Moscow River Shipping Company (MRSC) signed in Baku a memorandum of cooperation in cruise shipping in the Caspian region with the use of the new cruise passenger vessel "Peter the Great". The agreement was signed during the visit of the Russian delegation headed by Konstantin Anisimov to Baku. The agreement provides for joint activities on study and development of optimal routes for cruise passenger vessels…

New CEO, Co-CEO to Lead MHI Vestas Offshore Wind

Photo: Vestas Wind Systems A/S

Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…

Ocean Network Express Completes Merger Approvals

Graphics: Ocean Network Express

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…

Concordia Maritime Charters Two More MR Vessels

Image: Concordia Maritime

Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East. As with previous charters, these latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent.

Maersk Drilling Bags Contract with Tullow Ghana

Photo: Maersk Drilling

Maersk Drilling has been awarded a four year contract for the deep-water drillship Maersk Venturer by Tullow Ghana Ltd. The contract, which was signed December 2017, is expected to commence in February 2018 and covers development drilling on the Jubilee and TEN fields offshore Ghana. Maersk Venturer is currently in transit for the job offshore Ghana thereby further strengthening Maersk Drilling’s presence in the region. ”I am very pleased that Maersk Drilling will be mobilising another deepwater rig for this significant job in a strategically important region.

Rosneft, Pietro Barbaro Form JV for Shipping

Rosneft headquarters, Moscow Photo Rosneft

Rosneft and Pietro Barbaro S.p.A. signed a Memorandum of Understanding with the scope of creating a Joint Venture (JV) in the area of international shipping. The signed document envisages the performance by working groups of the companies of a joint analysis of potential formats of the JV’s organization. The parties highly value the prospects of the implementation of the projects, taking into consideration the prominent synergetic effect of such an alliance in the area of international…

Iran, Kazakhstan Deal for Shipping JV

Photo: IRISL GROUP

The chief executive officers of Islamic Republic of Iran Shipping Line (IRISL) and Kazakhstan’s KTZ Express – a subsidiary of the country’s national railways company- signed an agreement for establishing a joint company. The deal could lead to the creation of a new transport corridor connecting Iran’s southern ports to the upper parts of Central Asia - and even possibly Russia and China. On the sideline of Iran's president visit to Kazakhstan, an agreement for establishing a joint…

Maersk, IBM to Launch Blockchain Joint Venture

(Photo: A.P. Moller-Maersk)

The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018, depends on whether Maersk and IBM can convince shippers…

China Cosco, DEME in Offshore Wind Deal

Photo: DEME

The Belgian dredging, environmental and marine engineering group DEME Group and Chinese COSCO Shipping have officially embarked on a joint journey to develop offshore wind energy in China, under an umbrella agreement signed on 31 October, following the two companies’ joint venture announcement in May. DEME and China COSCO Shipping are both market leaders in their sectors and have found one another in the COSCOCS - DEME joint venture active in offshore wind energy in China. As the largest shipping company in the world…

Port of Rotterdam: 2017 in Review

Photo: Kees Torn, Port of Rotterdam

Over the past year, 29,646 seagoing vessels entered the port of Rotterdam, up more than 600 from 2016's 29,022. The number of incidents in the port fell from 159 to 129, and included one ‘serious accident’ involving an inland vessel that went adrift after hitting a groyne with its rudder. According to National Harbour Master René de Vries, the decrease in the number of minor incidents can be explained by the Port Authority’s investments in infrastructure in recent years: “Thanks to the new buoy configurations and dolphins…

AlMansoori Joint Venture with Key Energy

AlMansoori Petroleum Services, a subsidiary of AlMansoori Specialized Engineering, regional provider of oilfield services in the Middle East, has signed a joint venture agreement with American-based onshore energy production services company Key Energy Services. The joint venture will bring several new services to AlMansoori’s capabilities in coil tubing, workover rigs, pumping/cementing, fracturing and acidizing. The joint venture will see Houston-born Key Energy Services establish a base in the Middle East for the first time and signifies AlMansoori’s expansion into the region, it will target heavily in 2010.

Fincantieri & Technip JV for Offshore Market

Fincantieri and Technip in Italy signed a Memorandum of Understanding aiming to increase their joint competitiveness by starting to address Italian and Mediterranean Sea offshore markets. The agreement was signed by Marco Villa, CEO of Technip Italy S.p.A. and by Giuseppe Bono, CEO of Fincantieri. This agreement follows the existing collaboration between the two companies which are bidding for the construction of a platform to be located offshore Sicily. This would represent an important opportunity for employment development in Sicily, where the joint team plans to build the platform’s topside. Thus, the technical and commercial synergies between the two companies will be leveraged through a more effective integrated offer.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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