KEY EQUIPMENT FINANCE
Ismael Estrada has been promoted to director of Port Operations for Crowley Liner Service's Isla Grande terminal in San Juan, Puerto Rico. In his new role, he is responsible for all operational activities of the terminal including equipment control, freight services, security and maintenance. Estrada joined Crowley in 1990 as Supervisor of Vessel Cargo Operations and was subsequently promoted to Manager of Terminal Operations. Estrada will report to Roberto Lugo, Jr., Vice President and General Manager. Jose F. Nazario has been promoted to Director of Finance and Administration for Crowley Liner Service's Puerto Rico operations. In his new role, he is responsible for the direction and administration of the budget process, forecasting, tax interpretation, financial planning, accounting services and other reporting activities. Nazario joined Crowley in 1985 and has held a number of key managerial positions including his latest as Director of Port Operations. Nazario will continue to report to Roberto Lugo, Jr., Vice President and General Manager.
The lines of credit are for Petrobras to purchase equipment & services from Japanese companies in Brazil & abroad, based on an earlier MOU that established a strategic partnership between JBIC and Petrobras. Petrobras has signed two financing programs with the Japan Bank for International Cooperation - JBIC for the offer of two lines of credit amounting to US$ 1.5 billion. Mizuho Bank, Ltd. is the agent bank for these programs and the lines of credit will be 60% financed by JBIC and
A 'Wind Energy Update' survey identified key factors determining investor's choice of contracts; an offshore wind risk summit is planned “Experience of the team” was recently named as the principal trait to accumulate capital for current offshore wind projects as found in Wind Energy Update’s survey on offshore wind investment and finance. Further to this, survey participants also saw that: ”the use of proven technologies’’ and the
Douglas-Westwood (DW) forecast offshore wind installations averaging 3.2 GW per year over the next ten years with capital expenditure hitting a peak of $24.1B in 2016. The fifth edition of DW’s World Offshore Wind Market Forecast launched today presents a new longer-term forecast and examines the key commercial developments since the last publication to provide detailed insight to established players and new entrant alike.
International law firm Ince & Co has announced that it has advised Fugro on a sale and lease back agreement with ICON Investments regarding two of its geotechnical drill ships Fugro Scout and Fugro Voyager. ICON financed the acquisition of the vessels by loan facilities from a syndicate of lending banks led by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. Dutch stock exchange listed offshore operator Fugro is the world’s largest integrator of geotechnical, survey
Marine safety equipment manufacturer and servicing provider VIKING Life-Saving Equipment A/S is to establish a local presence in Korea through a joint venture agreement with leading Korean marine safety equipment and servicing company Daemyung Marine Co. Ltd. The new joint venture, VIKING Life-Saving Equipment Korea LLC, has VIKING as the majority shareholder. The venture aims to bring faster access for Korean-based and foreign-flag ship managers in the cargo
Cat Financial reported second-quarter 2014 revenues of $728 million, an increase of $34 million, or 5 percent, compared with the second quarter of 2013. Second-quarter 2014 profit after tax was $146 million, a $35 million, or 32 percent, increase from the second quarter of 2013. The increase in revenues was primarily due to a $36 million favorable impact from higher average earning assets. Profit before income taxes was $206 million for the second quarter of 2014
Russia's Rosneft, Gazprombank, Sovcomflot with Korean shipbuilding company Daewoo Shipbuilding & Marine Engineering Co. (DSME) have signed a Memorandum of Understanding (MOU) on key terms of co-operation to establish a shipbuilding and industrial cluster in the southern part of Primorskiy Krai (Russian Far East). The parties agreed to jointly complete the construction and launch a new shipyard – shipbuilding complex Zvezda – in 2016
Awilco Offshore (AWO) has exercised an option with PPL to build a 375-ft. jackup drilling rig with drilling depth of 30.000 ft. The rig will be named WilConfidence. The rig is to be delivered in the second quarter of 2009, and has a delivered cost of $149m. The delivered cost includes contract price with the yard, site supervision, pipe handling equipment, spare parts and finance costs during construction.
While the U.S. economy may be in the doldrums, smart U.S. companies are looking increasingly to exports to help their bottom lines. A major market for U.S. exports is Brazil. This article examines new market opportunities in the oil and gas, shipbuilding and port infrastructure in Brazil, and identifies certain financing sources available to U.S. companies seeking to participate in these markets. Brazil’s growth in recent years has been amazing
P3: An alternative to tolls or lockage fees in public-private partnerships for inland waterways. Within the generally sorry state of the U.S. inland waterways infrastructure, there are some locations where conditions are particularly dire
Maersk Line has ordered 14,800 new reefer containers in 2016, driving the average age of its 270,000 unit reefer container fleet down to 7.9 years. Part of the reefers replace older equipment, and add to the 30,000 reefers acquired by Maersk Line in 2015.
A.P. Moller-Maersk , Danske Bank and Nordea Bank will sell their shareholdings in shipping lender Danish Ship Finance worth 4.25 billion Danish crowns ($638.05 million) to a consortium of Danish investment funds, the company said Wednesday.
China's COSCO Shipping Co Ltd may consider buying the port assets of troubled South Korean firm Hanjin Shipping Co Ltd, Chinese online finance magazine Caixin reported on Wednesday. But COSCO Shipping has no plans to buy the world's seventh-largest container carrier's ships
Ratification of the International Maritime Organization’s (IMO) Ballast Water Management (BWM) convention has been welcomed by stakeholders throughout the maritime industry, including CMR Group, which said it sees the move as a boost for system and equipment manufacturers.
Carnival Corporation & plc has announced that its cruise joint venture in China has signed a non-binding memorandum of agreement (MOA) to order the industry’s first new cruise ships built in China for the Chinese market. The MOA is subject to several conditions including closing of the
Shell loads first LNG vessel, using new LNG fuel infrastructure at Gate terminal. The new LNG fuel infrastructure included the construction of a new berth. This new berth has now started operations. The loading of Shell’s chartered LNG vessel, the Coral Methane happened on September 19th
A unit of India's Adani Enterprises Ltd will buy the company that operates Australia's Abbot Point Coal Terminal from Glencore Plc for A$19.25 million dollars ($14.52 million), ending a legal wrangle over control of the port. The statement from Adani and Glencore said Adani Ports and Special
Jotun believes the European Union’s decision to approve the use of copper in marine antifoulings will ensure continued delivery of powerful benefits for both the shipping industry and environment. Copper is a key ingredient of most antifouling coatings
Navig8 Chemical Tankers Inc. an international shipping company focused on the transportation of chemicals, today announced that it has entered into a sale and leaseback transaction with subsidiaries of Japan-based SBI Holdings Inc (“SBI”) for two 25
German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders - among the biggest backers of shipowners over the past 20 years - are behind up to a quarter of the world's $400 billion of outstanding shipping loans
The Maritime and Port Authority of Singapore (MPA) has established the International Maritime Center 2030 (IMC 2030) Advisory Committee to chart the future directions of Singapore’s IMC. Andreas Sohmen-Pao, Chairman of BW Group
Matson, Inc. announced the issuance of $200 million in privately placed 15-year final maturity senior unsecured notes pursuant to a previously announced commitment letter on July 18, 2016. The notes will have a weighted average life of approximately 8.5 years and will bear interest at a rate of 3
Alphatron Marine has signed a premium member contract with Chemgas Shipping covering eight gas carriers. The Gas Carriers are fitted mainly with bridge equipment which Alphatron Marine has many years of experience of installing and also supporting these and other high tech navigation and
Despite many adversities for the maritime sector over the last year, seaborne perishable reefer trade increased in 2015 – and is forecast to grow further still in 2016. By 2020, seaborne reefer cargo will reach a staggering 120 million tonnes – increasing by an