The Jv News

The Northern Lights JV has added a third liquefied carbon dioxide (LCO2) carrier to its fleet, as it expands transport capacity for Europe’s carbon capture and storage (CCS) network.The vessel, Northern Phoenix, was formally welcomed in Bergen and will support the scaling of cross-border CO2 transport under the Northern Lights project.Designed to transport liquefied CO2, the ship will carry captured emissions from Yara to the Northern Lights receiving terminal in Øygarden, where…

Stolt-Nielsen Limited and Nippon Yusen Kabushiki Kaisha announced that, through Stolt-Nielsen’s subsidiary Stolt-Nielsen Gas Ltd., Stolt-Nielsen has entered into a share purchase agreement to sell 50% of Avenir LNG Limited to NYK Line. Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.With this partnership, Stolt-Nielsen and NYK Line will expand their future small-scale LNG and LNG bunkering opportunities through the joint venture…

Deutsche Offshore Schifffahrt (DO) has started construction of a new fleet of construction commissioning service operation vessels (C-CSOVs), with the first steel cut for the lead vessel DO Joule at CSSC Huangpu Wenchong Shipyard in Guangzhou, China.The vessel is the first in a series of four ships ordered by Schoeller Holdings, with all vessels to be built to identical specifications.Columbia Shipmanagement will provide technical management of the vessels, while DO will act as developer…

Italy’s Fincantieri and Spain’s Navantia have signed a memorandum of understanding to jointly coordinate and execute the European Patrol Corvette (EPC) program, strengthening industrial cooperation under one of Europe’s most ambitious defense initiatives.The two shipbuilders plan to create a joint venture to manage and execute the program. The vehicle will be open to participation from other project partners, with incorporation subject to the finalization of transaction documents…

KESTO, a joint venture between Denmark’s ESVAGT and South Korea’s KMC Line, has secured its first contracts to provide offshore service logistics for Vestas at the Shinan-Ui offshore wind farm in South Korea.From 2028 and for a minimum period of 10 years, KESTO will provide vessels to support Vestas’ service scope at the Shinan-Ui project. KESTO will begin servicing Vestas during the construction phase and will continue to deliver service operations once the wind farm becomes operational…

Northern Lights JV has awarded a charter agreement to a consortium of “K” Line and MISC Berhad initially for one new liquid CO₂ transport vessel. A second vessel will be awarded to the same consortium in April 2026. Further, two charter agreements have been awarded to Mitsui O.S.K. Lines for two new CO₂ transport vessels.The three first vessels awarded will each have a 12,000 m3 cargo capacity.The long-term time charter agreements are for cross-border transport of CO₂ from commercial customers in Europe.

French shipping group CMA CGM and U.S. investment firm Stonepeak have agreed to create a joint venture valued at nearly $10 billion to operate and invest in port terminals, including in the United States, the companies said on Wednesday.CMA CGM, the world's third-largest container shipping group, last year announced plans to invest $20 billion in the United States, winning plaudits from President Donald Trump who has made reviving the U.S. shipping sector a policy priority.Under the terminal joint venture…

Engineering and design company Stantec and AECOM has been selected by the U.S. Naval Facilities Engineering Systems Command (NAVFAC) to lead multidiscipline architect-engineer and consulting services as part of a five-year, US$150 million single award contract.The Stantec-AECOM Joint Venture work will directly support the US Navy’s Shipyard Infrastructure Optimization Program (SIOP) focusing on the modernization of Portsmouth Naval Shipyard (PNSY) in Kittery, Maine.SIOP is upgrading…

In a move that underscores how quickly artificial intelligence is moving from pilot projects to production systems in global shipping, Ocean Network Express (ONE) and MTI Ltd. have established a new joint venture, QUAVEO Company Limited, aimed squarely at fast-tracking digital transformation (DX) across maritime operations.Formed in December 2025 and headquartered in Ho Chi Minh City, the new venture—trading as QUAVEO—is designed to blend ONE’s real-world container shipping expertise with MTI’s AI development and human-resource training capabilities. The goal: move the industry beyond proof-of-concept experiments and into scalable, operational AI solutions that deliver measurable gains in efficiency…

MPC Container Ships (MPCC) has entered into contracts with Taizhou Sanfu Ship Engineering in China for the construction of six 3,700 TEU container vessels scheduled for first delivery in second half of 2028.Each vessel will operate under a 10-year time charter, with extension options, to a top five liner company.The vessels are based on the newest design, which optimizes speed and fuel consumption for regional and feeder trades, while keeping enough flexibility to shift between…

Odfjell SE and Japan’s Nissen Kaiun Co., Ltd. have formed a new Bergen-based joint venture, Odfjell Hakata Maritime AS, marking a significant expansion of their long-standing partnership and adding substantial capacity to the global chemical tanker market.The JV will launch with a fleet of 10 stainless-steel chemical tankers, equally contributed by the two companies. Nine of the vessels are already operating under Odfjell Tankers via existing charter agreements, while the tenth is set to join the fleet in early December.

Fincantieri has signed a Memorandum of Understanding (MoU) with KAYO, an Albanian company specializing in strategic industrial infrastructure, to establish a joint venture (JV) for the construction and maintenance of military vessels in Albania.The signing took place during the Italy–Albania Intergovernmental Summit in Rome, chaired by Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama, in the presence of Fincantieri CEO Pierroberto Folgiero and KAYO CEO Ardi Veliu.Under the agreement…

Accelleron, Turbo Systems United—its joint venture—and seawise have entered into a partnership agreement to expand the reach of Accelleron’s digital solutions in the Japanese maritime market. Under this agreement, certain Accelleron digital solutions, including LOREKA360° Tekomar XPERT Engine, will be available as optional features on seawise’s vessel data platform, swDPF. This marks the first such collaboration in Japan and is expected to enhance swDPF’s functionality while strengthening…

Ocean services provider DeepOcean and Saudi Arabia-based Jana Marine Services have signed a heads of terms agreement to establish a joint venture company that will offer integrated subsea solutions to the offshore energy industry in the Middle East.The intended joint venture, to be named JADE Subsea Services, plans to enter into a five-year charter agreement with Jana Marine for a newbuild DP2 hybrid diving support vessel (DSV) capable of performing subsea construction, inspection…

U-Ming Marine Offshore (UMO) and Purus have teamed up to form UPO Holdings (UPO), a joint venture aimed at expanding offshore wind operations in Taiwan and the region.UPO is commissioning two state-of-the-art VARD 419 Commissioning Service Operation Vessels (CSOVs), each 88 meters long and designed explicitly for Taiwan’s operating conditions.The vessels will be equipped with Seaonics All-Electric Walk-to-Work (W2W) 3D gangways, enhanced DP2 dynamic positioning, and hybrid propulsion…

The delivery of the next-generation construction support vessel (CSV), under construction at Turkish Sefine Shipyard for Norway’s Eidesvik Offshore and Agalas, has been delayed for later in 2026.The delivery of the CSV, which will feature a battery hybrid system and be capable of operating on methanol, has been rescheduled from early 2026 to the third quarter of the same year.The vessel, named Viking Vigor, will be owned by an entity to be named Eidesvik Agalas AS, where Eidesvik will be the majority owner with 50.1%.The newbuild will be equipped to perform inspection, maintenance and repair (

Combifloat Group of the Netherlands and Poseidon Barge of the United States, with the backing of Marine Equipment Solutions (MES), have launched a new joint venture (JV) under the name of Poseidon Jackup to bring ‘world-class’ modular jack-up technology to North America.The partnership will offer Jones Act compliant solutions tailored to the needs of U.S. and Canadian marine contractors.Poseidon Jackup introduces purpose-built, modular jack-up barge systems engineered for performance…

NYK Stolt Tankers, a joint venture between NYK and Stolt Tankers, has signed a contract with Nantong Xiangyu Shipyard in China to build two parcel chemical tankers.Scheduled for delivery in 2028 and 2029, the vessels will join the chemical tanker pool operated by Stolt Tankers.This order brings the total number of chemical tankers under construction to eight, including the six vessels ordered from the same shipyard in 2024.Parcel tankers are multi-purpose chemical tankers that can carry various cargo…

Aesen Pte. Ltd. (Aesen) and Dutch Offshore Contractors Holdings B.V. (DOC)  formed Aesen DOC Cable Logistics Pte. Ltd., a joint venture to address the growing global demand for subsea cable transport, storage and logistics solutions.With global electrification and offshore wind expansion accelerating, demand for high-voltage subsea cables is surging, and the joint venture aims to address critical industry gaps such as supply bottlenecks, limited storage capacity, and the need for reliable end-to-end logistics.As part of its investment strategy…

DEME, through its Taiwanese joint venture CDWE with CSBC Corporation, has secured a contract for the Formosa 4 offshore wind farm in Taiwan, covering the transport and installation of 35 foundations and the offshore substation, as well as the scour protection works.DEME will deploy several vessels from its fleet, including the floating offshore installation vessel Green Jade, owned and operated by CDWE and the first of its kind designed and built in Taiwan.A rock placement vessel will be deployed for the scour protection works.

ElbFeeder, a joint venture of the Icelandic transportation company Eimskip and German listed ship-owner Ernst Russ, signed contracts for a pair of 2,280-TEU container vessels with the shipyard China Merchants Jin Ling Shipyard (Nanjing) Co. Ltd. The newbuildings will be an addition to the ElbFeeder joint venture and expand it to a total of nine vessels. Options for two additional vessels were negotiated.The newbuildings will be employed in the Eimskip Blue Line between Reykjavik…

ABB and shipping company Wallenius Marine have formally established a new joint venture based in Stockholm, Sweden, to expand their OVERSEA™ collaboration.Launched in September 2022 as a collaboration between ABB and Wallenius Marine, OVERSEA™ is a combined digital solution and ‘fleet-support-center-as-a-service’ offering designed to help ship owners, operators, and managers enhance the efficiency and sustainability of maritime operations.OVERSEA™ leverages ABB’s significant expertise…

The development Argentina’s vast Vaca Muerta share is transforming the nation into a rising energy exporter, with oil and pipeline gas already flowing abroad and an ambitious multi-phase ‘Argentina LNG’ initiative aiming to secure a permanent place in the global liquefied natural gas (LNG) market. While geological resources appear sufficient, the scale and pace of development, however, present challenges.‘Argentina LNG’ is a large-scale LNG scheme designed to massively develop Vaca Muerta's resources to deliver energy to domestic and international market.