Latest news from Heavy Lift & Project Forwarding International Magazine

ST Engineering signs JV to form Hovertrans Solutions

January 13 - Singapore Technologies Engineering Ltd (ST Engineering) subsidiary, Singapore Technologies Marine Ltd (ST Marine) has signed a joint venture agreement with Hovertransport Consultants Ltd (Hovertransport) and Clearstone Investments LLC (Clears

ST Marine will hold a 51 percent stake in Hovertrans Solutions, while the remaining 49 percent shareholding will be held equally between Hovertransport and Clearstone.

ST Marine paid USD600,000 to acquire the intellectual property rights and other business considerations with another USD600,000 as working capital into the new Hovertrans Solutions.

Hovertrans Solutions seeks to exploit the use of hoverbarges for heavy lift in difficult terrain in the global oil and gas, and specialist transportation industries.

"This strategic partnership to form Hovertrans Solutions leverages our mutual design and engineering capabilities, through which we intend to jointly develop new innovative product offerings and solutions and actively pursue opportunities to grow the business." said Chang Cheow Teck, president, ST Marine.

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 235
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 593
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 624
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 475

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.