Memories Group Limited has entered an agreement with Tint Tint Travel and Tours Company Limited and Freepier Limited to acquire Burma boating business for MMK1.3bn ($0.96m).
The purchase consideration will be financed through internal funds of Memories Group.
Upon completion of the transaction, the acquiring company will take ownership of the flagship Meta IV yacht, the Burma Boating brand, as well as its existing contracts and bookings.
All the companies involved in the deal are based in Myanmar.
The transaction enables Memories Group to increase its earnings and expand its footprint in the Myanmar tourism market.
Emirates Global Aluminium (EGA) has inked a memorandum of understanding (MoU) with Abu Dhabi Ports to develop ports, logistics infrastructure, and services outside the UAE.
The agreement enables Abu Dhabi Ports to improve the overseas infrastructure used by EGA to ship raw materials to UAE.
Austal has entered a A$68m ($53m) contract with Japan-based JR Kyushu Jet Ferry for building an 83m-long trimaran ferry.
The ferry can accommodate 502 passengers and will serve the route between Fukuoka, Japan, and Busan, South Korea.
Don Design Associates’ designer Eiji Mitooka has provided the interior design for the vessel.
Scheduled for delivery in 2020, the vessel will sail at an operational speed of 37kt.
Nakilat has extended its joint venture (JV) with Maran Ventures to add two new LNG vessels to its portfolio.
Based in Qatar, Nakilat is a gas transport company, while Maran is a shipping firm in Greece.
The latest addition of vessels brings the total fleet owned by the JV to 15.
The new vessels, Woodside Rogers and Woodside Goode, were built by Daewoo Shipbuilding and Marine Engineering (DSME).
The LNG ships feature modern technology and dual-fuel diesel-electric (DFDE) propulsion models.
The transaction enables Nakilat to increase profits for its stakeholders and support Qatar’s LNG exports.
Winterthur Gas and Diesel (WinGD) has inked an agreement with Hyundai Heavy Industries (HHI) Group to offer new smart shipping solutions.
WinGD is a Switzerland-based developer of low-speed gas and diesel engines, while HHI is a South Korea-based shipbuilding firm.
The engine diagnostic system (EDS) developed by WinGD will be integrated with HHI’s INTEGRICT-Smart Ship Solution (ISS) in order to provide insight from engine and ship data to the ship owners.
The partnership provides digital knowledge to shipping firms to minimise operational costs. It will also provide support for the challenges faced with engine and ship operations.
WinGD’s EDS system sends an alert to the operator about maintenance, which will avoid engine interruptions.
Lloyd’s Register (LR) has joined forces with Hanseaticsoft to enhance ship management procedures.
The collaboration will employ Cloud Fleet Manager, which is the cloud-based ship management software of Hanseaticsoft. The software provides single and accurate information to employees, crew at sea, and external partners of a shipping firm.
It improves the management processes of shipping companies and delivers vessel audits in digital format through tablet or smartphone.
The solution includes more than 25 applications, which include purchase, schedule and agents, inspections and audits, crewing, charter, risk assessment, as well as maintenance.