Ottco, Royal Vopak to Establish Joint Venture in the Special Economic Zone at Duqm
Oman Tank Terminal Company (OTTCO), a subsidiary of OQ Group, and Royal Vopak, signed a shareholder agreement to establish a new company in the Special Economic Zone at Duqm (SEZAD). The agreement, concluded during the Duqm Economic Forum 2025, reflects OQ’s continued commitment to expanding its investments in Duqm and supports national efforts to attract foreign investment and strengthen global partnerships.The agreement was signed by Ashraf Hamed Al Mamari, Group Chief Executive Officer of OQ and Chris Robblee…
Aesen, DOC JV Targets Subsea Cable Logistics
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…
Contract Signed for In-Service Support of FREMM Frigates
Orizzonte Sistemi Navali (OSN), the joint venture owned by Fincantieri and Leonardo, has signed the Through Life Sustainment Management (TLSM 2) in-service support contract with OCCAR (Organisation for Joint Armament Cooperation). This marks the continuation of a long-standing strategic collaboration that began with the delivery of the first FREMM-class frigates and their related logistical support. TLSM2 is an in-service support contract for all systems and equipments on FREMM units built and delivered by OSN to the Italian Navy.The agreement…
Inchcape Shipping Services, Symmetry Group Announce Partnership in Guyana
Inchcape Shipping Services (ISS) and Symmetry Group Inc. (SGI) have announced a strategic joint venture in Guyana, marking a significant milestone in the maritime and logistics sectors. This partnership aligns with Guyana's Local Content requirements, combining the strengths of both companies to offer an integrated suite of services tailored to the needs of the country's burgeoning oil and gas industry.Symmetry Group Inc. has acquired a 51% majority stake in ISS Guyana, combining SGI's local expertise with ISS's global reach and capabilities.
Noatum Maritime, ASRY Mark Commencement of JV with Tugboat Delivery
Noatum Maritime and The Arab Shipbuilding and Repair Yard Company (ASRY) marked the operational commencement of their joint venture (JV) to provide integrated marine services in Bahrain, with the arrival of four modern tugs at ASRY’s headquarters.The arrival of the tugs, part of Noatum Maritime’s existing fleet, was celebrated during a ceremony attended by representatives from various ministries, public bodies and leading industrial firms at ASRY’s headquarters in Bahrain.This development follows the announcement of the JV in February 2025…
UAE Shipbuilding Joint Venture Announced
EDGE, a global technology and defense group, and CMN NAVAL, a naval shipbuilding group specializing in the design, engineering, and construction of naval and commercial vessels and mega yachts, agreed to create a new Abu Dhabi-based shipbuilding joint venture (JV) named AD NAVAL (ADN). Leveraging an existing order pipeline worth approximately EUR 7 billion, the JV will bring together both companies under an exclusivity agreement on the segment of high value small to mid-size naval vessels including Corvettes…
JA Moody Announces Partnership with New Heritage Capital
JA Moody, a maritime supplier of fluid control valves, actuators, strainers, parts and services to the United States Navy and Commercial Marine industry, today announced a strategic partnership and investment from New Heritage Capital ("Heritage"), a Boston-based private equity firm specializing in founder-owned businesses.The investment was structured using Heritage's Private IPO solution, which preserves operational control for JA Moody's management while providing capital for accelerated growth.
$434m Order placed for 10 Offshore Patrol Vessels
EDGE and Fincantieri have formalized the launch of a joint venture dubbed MAESTRAL, a JV created in the shipbuilding sector based in Abu Dhabi. The JV is aiming to capture global opportunities in the design and manufacturing of naval vessels. EDGE holds a 51% stake in the JV, with pre-emptive rights for non-NATO orders along with a number of strategic orders placed by selected NATO member countries, with a commercial pipeline of orders estimated to be worth around $32.6 billion.The…
CETO JIP to develop Low Pressure Solutions for CO2 Ship Transport
Equinor, Shell, TotalEnergies, Gassco and DNV announced the kick-off of a new JIP to develop low-pressure solutions for the transportation of CO2 by ships. The CETO (CO2 Efficient Transport via Ocean) JIP will carry out the technology qualification of a low-pressure ship design and identify solutions to scale CO2 transportation volume, while reducing the associated risks, to support the development of opportunities in CCS. CETO is funded by the project partners and GASSNOVA through the CLIMIT program and is expected to be completed in 2023.
FSRU: Nakilat, Karpowership sign MoU
Nakilat and Karpowership signed a Memorandum of Understanding (MoU) to collaborate in the LNG-to-power market and jointly own and operate Floating Storage Regasification Units (FSRUs)."This fits very well with Nakilat’s long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector,” said Nakilat’s CEO Eng. Abdullah Al-Sulaiti.The MoU outlines an ambitious plan for the immediate future. Nakilat and Karpowership hope to set up a new joint venture and deliver the first FSRU by 2023.
