Emas Chiyoda Subsea Files for Bankruptcy
to court documents. The loan requires Emas Chiyoda to file a bankruptcy exit plan in 60 days and to have the plan confirmed by U.S. Bankruptcy Judge Marvin Isgur, who was assigned to the case, in 120 days. Ezra of Singapore owns 40 percent of Emas Chiyoda, Chiyoda owns 35 percent and Nippon Yusen KK of Japan owns the remainder, according to court documents. A creditor of a subsidiary of Emas Chiyoda filed a court petition this month to liquidate the unit. (Reporting by Tom Hals; Editing by Noeleen Walder, Bernard Orr
FPSO Turritella Producing, On Hire
Louisiana in the Walker Ridge area. The lease and operate contracts include an initial period of 10 years with future extension options up to a total of 20 years. The FPSO is owned and operated by a Joint Venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha in which SBM Offshore's shareholding is 55 percent
Nippon Yusen to Invest in EMAS Chiyoda Subsea Services JV
Japanese shipper Nippon Yusen Kaisha (NYK) has agreed to invest in EMAS Chiyoda, a subsea services joint venture between oilfield services firm Ezra Holdings Ltd and Chiyoda Corp, Ezra said in a statement late on Friday. Singapore's Ezra, through its EMAS AMC subsidiary, plans to sell a 10 percent stake in the joint venture for $36 million, while engineering company Chiyoda will sell a 15 percent stake. Once the deal is completed, Ezra will hold 40 percent of the joint venture, Chiyoda 35 percent, while NYK will hold 25 percent. Ezra, one of the city-state's many oilfield service firms hit by a
Shipping Industry Signs Up to Pilot XVELA Platform
that have committed to pilot XVELA to date include terminal operators Hamburger Hafen und Logistik AG (HHLA), PSA International (PSA), DP World, Modern Terminals Limited (MTL), and Port of Tanjung Pelepas, along with ocean carriers Maersk Line, MCC Transport, Orient Overseas Container Line (OOCL), Nippon Yusen Kabushiki Kaisha (NYK Line), and Hapag-Lloyd, who previously announced their agreement to pilot XVELA on February 17, 2016. “Clearly the industry sees the value to be gained from the real-time information sharing and collaboration capabilities XVELA offers,” said Christopher
NYK Aims at Developing New Shipping and Logistics Solution
Tokyo-based shipping line NYK Group (Nippon Yusen Kaisha) has decided to establish a new company, Symphony Creative Solutions (SCS) in Singapore, to develop and market new solutions in the shipping and logistics fields. NYK, along with its subsidiaries, the Monohakobi Technology Institute and NYK Business Systems, has teamed up with Weathernews and Kozo Keikaku Engineering for the new venture to further the development of the Symphony Project. "Symphony Project" will aim to create new value in the auto logistics supply chain and offer next-generation solutions for its customers
SBM Offshore Completes $1.55 bln FPSO Financing
SACE $167 million and UKEF $53 million; NEXI covered tranche of $400 million; and uncovered commercial tranche of $350 million. FPSO Cidade de Saquarema is owned and operated by a joint venture owned by affiliated companies of SBM Offshore (56 percent), Mitsubishi Corporation (20 percent), Nippon Yusen Kabushiki Kaisha (19 percent), and Queiroz Galvão Óleo e Gás S.A. (5 percent). The vessel has processing capacity of up to 150,000 barrels of crude oil and 6 million cubic meters of gas per day, and storage capacity of approximately 1.6 million barrels of crude oil. The joint
SBM Offshore Divests Stake in Turritella Project
SBM Offshore has entered an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating Floating Production Storage and Offloading (FPSO) Turritella, the company announced today. Mitsubishi Corporation (30 percent interest) and NYK Line (15 percent interest) have acquired a 45 percent combined stake in the joint venture companies. SBM Offshore, MC and NYK Line are also partners in other joint venture companies incorporated for the purpose of owning and
February 2025
