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Norway-based oil-services investment company Akastor has announced it has completed the sale of 50% of AKFOS Offshore to form a joint venture with Mitsui and MOL, per the agreement signed in June this year.

Stone Marine Propulsion in the UK and NGC Marine in China are teaming up to create a new supplier of propulsion and marine gearbox propulsion equipment.

Bumi Armada continues to build on its wins in the West Africa market, setting up a joint venture (jv), through its unit Bumi Armada Marine Holdings,  with Shapoorji Pallonji & Co and Cypress Energy to bid for a floating, production, storage and offloading (FPSO) project in Ghana.

Shipping group CMA CGM and Adani Ports and Special Economic Zone (APSEZ) have signed a joint venture to operate a new container terminal (CT4) at Mundra Port, India, for the next 15 years. 

Finnish engine manufacturer Wärtsilä is exiting a joint venture for two-stroke engines with China State Shipbuilding Corp (CSSC) and take writedowns in the second quarter.

Euronav has terminated a joint venture with Bretta Tanker Holdings for a joint venture covering four suezmax tankers.

Stolt-Nielsen Limited and Golar LNG today announced that they have entered into a joint venture to produce and distribute small-scale LNG.

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.

Bibby Ship Management and United Ship Management (USM) have formed a joint venture to focus on the Chinese and North Asian market.

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