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BP and Sinopec Fuel Oil have come together to form a 50:50 marine fuels bunkering joint venture named BP Sinopec Marine Fuels, based in Singapore, the world’s largest bunkering port.

Reederei NSB has founded a new subsidiary with Columbia Shipmanagement (CSM) in Manila - Asia Marine Philippines as it moves towards the flagging-out of its fleet and laying-off of 486 German seafarers by 2017.

Navios Maritime Holdings is to acquire 14 vessels from HSH Nordbank, through a new joint venture Navios JV, for a $14m investment and assuming the participating HSH loans on the vessels.

Singapore’s Pacific Radiance, through its subsidiary Alstonia Offshore, has entered into a joint venture deal with Malaysia’s Duta Marine.

China’s Jiangsu Rainbow Heavy Industries (RHI) has entered into a partnership agreement with Singapore-based engineering firm Ten-League International Holdings to set up a joint venture in Singapore.

Regional-focussed shipping and logistics group SITC said that its SITC Logistics unit and Viboon Enterprise have agreed to establish a joint venture to promote and develop logistics park services in Thailand.

China Ocean Shipbuilding Industry Group (COSIG) and Zhejiang Ouhua Shipbuilding Company are planning to form a joint venture for the design of ships, and management and consultancy services.

Shanghai Bestway Marine Engineering Design has ventured into financial leasing with an investment of RMB60m ($9.7m).

SBM Offshore is selling off Diving Support and Construction Vessel (DSCV) SBM Installer to new jv company OS Installer for $150m.

China Merchants Holdings (International) Co has entered into an agreement to develop a container port project in Sri Lanka with partners for a total investment of $601m.

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