UQM, a developer of alternative energy technologies, is merging with the Danfoss Power Solutions (US) Company, a subsidiary of Denmark-based Danfoss, in a deal worth approximately US$100m.

The chief financial officer of state-owned Oman Shipping Company (OSC) has spoken of the firm’s ambitious expansion plans as the company hopes to cement its role in the bulk and container market.

Technology group Wärtsilä is to provide the ship design, main engine and other propulsion equipment for a new state-of-the-art fishing vessel.