Latest news from Heavy Lift & Project Forwarding International Magazine

Vestas and MHI target offshore wind

September 30 - Danish wind turbine manufacturer Vestas Wind Systems and Japan's Mitsubishi Heavy Industries (MHI) have agreed to a joint venture dedicated to offshore wind energy projects.

Vestas will transfer the development of its V164-8.0 MW turbine, its V112 offshore order book, existing offshore service contracts and approximately 300 employees to the JV. MHI will contribute EUR100 million (USD135 million) cash to the venture, plus a further EUR200 million (USD270 million) dependent on the achievement of certain performance milestones.
The JV will be headquartered in Aarhus, Denmark. Masafumi Wani will become chairman of the board of directors (currently executive senior vice president and head of power systems at MHI); Anders Runevad  has been named vice chairman (currently group president and ceo of Vestas); while Jens Tommerup has been appointed ceo of the JV (currently president of Vestas Asia Pacific & China).
Under the agreement both parties hold a 50 percent stake in the venture. An option to change the ownership ratio to 51 percent in favour of MHI and 49 percent for Vestas can be activated in April 2016.
According to a Vestas statement, the main markets for offshore wind turbines that it will target are the North Sea coastal countries, particularly the UK and Germany.
The deal is subject to regulatory approval and should close during March 2014.

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: 171
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: 347
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: 408
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: 371

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