The companies have decided to delay the merger, which was to take place this month, because of a decline in demand for ships. In mid-January 2008 it was announced that IHI Corp, Japan's third-biggest heavy-machinery maker, was in talks with JFE Holdings, the nation's second-biggest steelmaker, to create the biggest Japanese shipbuilder to compete against Asian rivals. The two units could be merged as early as this year creating a company with sales of ¥345bn. IHI Marine United would be merged into Universal Shipbuilding, which JFE is currently seeking to raise its stake in from 50% to 80%, buying out part of Hitachi Zosen's 50% share.
Thursday, March 5, 2009
Japanese yard merger postponed
Tokyo: JFE Holdings Inc. and IHI Corp. will postpone a merger of shipbuilding operations until after autumn.
The companies have decided to delay the merger, which was to take place this month, because of a decline in demand for ships. In mid-January 2008 it was announced that IHI Corp, Japan's third-biggest heavy-machinery maker, was in talks with JFE Holdings, the nation's second-biggest steelmaker, to create the biggest Japanese shipbuilder to compete against Asian rivals. The two units could be merged as early as this year creating a company with sales of ¥345bn. IHI Marine United would be merged into Universal Shipbuilding, which JFE is currently seeking to raise its stake in from 50% to 80%, buying out part of Hitachi Zosen's 50% share.Read More
The companies have decided to delay the merger, which was to take place this month, because of a decline in demand for ships. In mid-January 2008 it was announced that IHI Corp, Japan's third-biggest heavy-machinery maker, was in talks with JFE Holdings, the nation's second-biggest steelmaker, to create the biggest Japanese shipbuilder to compete against Asian rivals. The two units could be merged as early as this year creating a company with sales of ¥345bn. IHI Marine United would be merged into Universal Shipbuilding, which JFE is currently seeking to raise its stake in from 50% to 80%, buying out part of Hitachi Zosen's 50% share.
Petrobras to invest $ 2.4 bn in biofuels
Rio De Janeiro: Petrobras Biocombustivel, Brazilian state-owned energy giant Petrobras' biodiesel subsidiary, plans to invest 2.4 billion U.S. dollars in biodiesel and ethanol production for the 2009-2013 period.
80 percent of the 2.4 billion dollars will be invested in ethanol, while the other 20 percent will be earmarked to biodiesel. A total of 91 percent will be made in Brazil. The figures represent an 87 percent increase compared with the amount in the company’s 2008-2012 Business Plan, and are part of Petrobras' 2.8 billion dollars investment in the biofuel sector. The remaining 400 million dollars will go towards infrastructure such as ethanol pipelines. An extra 530 million dollars will be invested in biofuel research, which may include the purchase of shares or even the total capital of research companies. "It is possible to acquire technology companies both in Brazil and abroad," said Alan Kardec, the company's president, "We may buy them to assure the technological acceleration of our projects." In the Business Plan, Petrobras said it intends to reach a domestic production of 640 million liters of biodiesel by 2013. To achieve the goal, the company plans to build a new plant in northeastern Brazil, and is considering acquiring two others. The company is also expected to duplicate its Candeias plant in the state of Bahia, and adapt the experimental plants in Guamare, in the state of Rio Grande do Norte, for commercial production.Read More
80 percent of the 2.4 billion dollars will be invested in ethanol, while the other 20 percent will be earmarked to biodiesel. A total of 91 percent will be made in Brazil. The figures represent an 87 percent increase compared with the amount in the company’s 2008-2012 Business Plan, and are part of Petrobras' 2.8 billion dollars investment in the biofuel sector. The remaining 400 million dollars will go towards infrastructure such as ethanol pipelines. An extra 530 million dollars will be invested in biofuel research, which may include the purchase of shares or even the total capital of research companies. "It is possible to acquire technology companies both in Brazil and abroad," said Alan Kardec, the company's president, "We may buy them to assure the technological acceleration of our projects." In the Business Plan, Petrobras said it intends to reach a domestic production of 640 million liters of biodiesel by 2013. To achieve the goal, the company plans to build a new plant in northeastern Brazil, and is considering acquiring two others. The company is also expected to duplicate its Candeias plant in the state of Bahia, and adapt the experimental plants in Guamare, in the state of Rio Grande do Norte, for commercial production.
Offshore Unlimited secures charter deal
Australia: Tasmanian Company, Offshore Unlimited recently secured a charter in the Bass Strait region, with their new vessel ‘Unlimited’ for subsea survey work.
‘Unlimited’ is a 24-metre aluminium catamaran designed by Incat Crowther and built by Hobart’s Richardson Devine Marine. Features of the new vessel include, 32-tonne deck load, 25,000 litres of fuel, 3.5-tonne deck crane, 15-tonne bollard pull with remote release towing hook, transfer capacity for up to 38 persons, overnight accommodation for twelve, latest Inmarsat Fleet Broadband and Iridium Openport communications, endurance in a chase / patrol boat role of up to 40 days without refuelling and storing, and USL 2A survey.Read More
‘Unlimited’ is a 24-metre aluminium catamaran designed by Incat Crowther and built by Hobart’s Richardson Devine Marine. Features of the new vessel include, 32-tonne deck load, 25,000 litres of fuel, 3.5-tonne deck crane, 15-tonne bollard pull with remote release towing hook, transfer capacity for up to 38 persons, overnight accommodation for twelve, latest Inmarsat Fleet Broadband and Iridium Openport communications, endurance in a chase / patrol boat role of up to 40 days without refuelling and storing, and USL 2A survey.
Containerships deal opens up Mediterranean market
Baltic container shipping line Containerships has extended its coverage into new areas.
The Finnish company has acquired 100% of the shares in Turkish shipping line Contaz Maritime and Transport, opening up the Mediterranean market and routes into southern Russia. The transaction was fully financed by Containerships' equity. Sigurjón Markusson, chief executive officer of Containerships, says: "We have long considered expansion of our operating territory into the Mediterranean. The Contaz operations are not only profitable but in fact a mirror image of the services Containerships operate in the Baltic and North Sea. "The new company can now offer unique door-to-door services between the Baltic, North and Mediterranean seas. This is a trading area of 500 million people, with growing economies and many opportunities." Charles Patton, managing director of Containerships UK, says the acquisition will mean "a considerable increase in volumes for the UK arm of the company, good news in the current economic climate".
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Inauguration of upgraded Davao port
The Philippines: The newly upgraded facilities of Davao Port will allow the port to handle more cargo vessels from South East Asia, the Middle East and the USA.
The US$8.6 million upgrade was recently completed and the inauguration, held last Friday was attended by President Gloria Arroyo. The port’s 42.35-metre by 18-metre quay was upgraded and the facilities were expanded to include a 3,180 square metre reinforced concrete wharf. Also known as the Sasa Wharf, the Port of Davao is ranked fourth in the Philippines in terms of container cargo traffic and container volume performance. The expansion project was part of a multi-million dollar infrastructure program initiated by President Arroyo as part of her plan for the country’s overall development strategy.Read More
The US$8.6 million upgrade was recently completed and the inauguration, held last Friday was attended by President Gloria Arroyo. The port’s 42.35-metre by 18-metre quay was upgraded and the facilities were expanded to include a 3,180 square metre reinforced concrete wharf. Also known as the Sasa Wharf, the Port of Davao is ranked fourth in the Philippines in terms of container cargo traffic and container volume performance. The expansion project was part of a multi-million dollar infrastructure program initiated by President Arroyo as part of her plan for the country’s overall development strategy.
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