Cocoa tree

Olam in JV with North America’s largest cocoa processor

Global integrated supply chain manager of agricultural products and food ingredients, Olam International, has inked a 50:50 joint venture with Blommer Chocolate Company, the largest cocoa processor and ingredient chocolate supplier in North America.

The JV, GrowCocoa, will be headquartered in the US and bolster the two cocoa giants’ supply chain in origin sourcing and access to farmer groups, technical chocolate product manufacturing expertise and established retail customer relationships.

GrowCocoa aims to improve the livelihoods of cocoa communities, encourage long-term commitment and investment in a sustainable supply chain and develop strategic partnerships with governments, national institutions, relevant NGOs and funding partners.

Related story: Sold Down In 1H2012: WILMAR, SAKARI, OLAM, EU YAN SANG, Q&M

Anwell executive director Ken Wu

Japan solar power boom augurs well for Anwell

In its bid to cut dependence on atomic energy, Japan’s solar electricity tariffs, with effect from 1 July, will be about triple what industrial users now pay.

The rate reflects the government's intention to set up many solar power stations very quickly.

“Solar energy is the leading source of alternative energy. Our cost competitiveness and strong R&D capabilities will allow us to benefit from the fast-growing global solar market,” said Anwell Technologies executive director Ken Wu after Japan announced the decision on Monday.

According to Bloomberg New Energy Finance forecasts, Japan’s decision may spur at least US$9.6 billion in new installations with 3.2 gigawatts of capacity.

Japan ranked sixth worldwide by new installations last year, when it added 1.3 gigawatts of solar to bring its installed base to 5 gigawatts.

Next year, builders will erect triple that level, or another 3.2 to 4.7 gigawatts.

Related story: TECHNICS, ANWELL, DMX: What Analysts Say Now...

New charter contract for Otto's SOC Endeavour
Otto Marine secures charter worth up to US$57.3 million

Otto Marine has secured a ship chartering contract for 180 days, with option to extend for 3 months + 3 years for its newly-built 75-meters work maintenance vessel.

The contract is expected to generate about US$7.6 million for the minimum scheduled period of the charter and up to US$57.3 million if options are included.

The vessel to be chartered is a 4,200-bhp work maintenance vessel christened “SOC Endeavour”.

It measures 75 x 24 meters, is ABS-classified and will be deployed for general maintenance works in Kuwaiti, UAE and offshore Iraqi waters.

Deputy president Au Chin Leng said that Otto intends to expand its chartering segment.

Related story: OTTO MARINE, STRACO CORP: Latest Happenings....

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