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Korean Register (KR) and Iranian Classification Society have signed a memorandum of understand to set up a joint venture firm in Tehran to offer plant facility certification and engineering services.

Singapore’s Keppel Offshore & Marine (Keppel O&M) has entered into an agreement with Russian state firm Rosneft Oil Company and Norwegian drilling equipment firm MHWirth to set up a joint venture in Russia.

The growing cruise market, particularly in Asia, points to a good time for companies to tap on its positive prospects.

Engine manufacturer Wartsila and China State Shipbuilding Corporation (CSSC) have signed a letter of intent to establish a new joint venture company to focus on China's growing market for electrical & automation (E&A) solutions for marine applications.

Offshore Oil Engineering Co (COOEC) in Zhuhai, China has formed a joint venture with US firm Fluor Corporation to develop offshore marine equipment for the international market.

Singapore’s Ezion Holdings has entered into a joint venture agreement with a Chinese state-owned enterprise (SOE) for the deployment of service rigs to support the offshore windfarm market.

Tanker firm Norstar will set up a new commercial management joint venture based in Westport Connecticut in the US named Norstar Chartering (USA) LLC.

Dubai-based port group DP World has launched a joint venture with the Russian Direct Investment Fund (RDIF) dubbed DP World Russia, to invest a total of $2bn in upgrading the country’s ports.

Viking Life-Saving Equipment is entering a joint venture with Korean marine safety equipment and servicing company Daemyung Marine to establish a local presence in Korea. 

Singapore’s Pacific Radiance has aborted its venture into the West African offshore market, but reinforced its position in Malaysia with new joint venture agreements.

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