The JV is named SEASOSCO Offshore and has placed contracts to acquire eight new platform supply vessels (PSVs) from Cosco Shipping Heavy Industry’s Guangdong shipyard for a sum of $161.1m.
SEASOSCO intends to receive seven PSVs in 2018, while delivery of the final vessel is scheduled for 2019.
The JV has also entered an agreement with Rolls-Royce Marine to equip six of the PSVs with battery energy storage systems to reduce their fuel consumption.
DP World and India’s National Investment and Infrastructure Fund (NIIF) have introduced a new investment platform to invest up to $3bn of equity into ports, terminals, transportation and associated businesses across India.
The creation of the new platform follows of a memorandum of understanding (MoU) that was signed between the two partners in May 2017.
The investment platform is anticipated to seek development opportunities in the areas of river ports, freight corridors and port-led special economic zones.
It will also be involved in the development of inland container terminals and cold storage services.
Damen Shipyards Group has received a contract to supply two Modular Multi Cat 1205 vessels to Group Ocean.
The Multi Cat vessels have been designed for easy transportation and can be deployed for dredging, towing and anchor-handling operations, as well as dive support and offshore activities.
Delivery of the vessels is slated to be completed by the second quarter of this year.