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Crowley Announces Promotions

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.

Petrobas Signs for US$1.5-Billion Japanese Bank LOC

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

Offshore Wind Investment Survey – Summit Planned

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

Offshore Wind Spend to Average $21B per year

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.

Multi-National Consortium to Construct Russian Far East Shipyard

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

Cat Financial Announces Second-Quarter 2014 Results

CAT Brand

  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

Awilco Exercises Option for Jackup Drilling Rig No. 8

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.

K-Sea Acquires Integrated Tug Barge Unit

K-Sea Transportation Partners L.P. has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan

BRAZIL: U.S. Find New Opportunities

iStock brazil web.jpg

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

Atlas Copco Names Business Development Manager

Stephen Nelson, business development manager for Atlas Copco

Stephen Nelson appointed business development manager for Atlas Copco Construction Equipment.   Stephen Nelson has been appointed to the position of business development manager at Atlas Copco Construction Equipment, Commerce City, Colo., effective Jan. 3. In his new role Nelson will report directly to Erik Sparby, president and general manager of Atlas Copco Construction Equipment. Nelson has more than 20 years of sales and management experience working in the construction equipment

MacGregor to Supply Cargo Access Systems for Mega RoRo Ships

MacGregor, part of Cargotec, has been contracted by South Korean shipbuilder Hyundai Heavy Industries to deliver RoRo access equipment packages for a series of two post-Panamax RoRo carriers. The vessels are under construction at Hyundai Mipo Dockyard (HMD) for the Luxembourg-based operator CLdN

South Korean Orders for MacGregor's Pusnes Deck Machinery

MacGregors Pusnes Deck Machinery courtesy MacGregors

  MacGregor, part of Cargotec, has secured orders for a series of Pusnes deck machinery packages for various shipowners. The Pusnes equipment has been specified for different ship types that are going to be built by the Hyundai Group and Sungdong Shipbuilding & Marine Engineering

Two New Crewboats for ISS

Photo: ISS

Maritime and logistics service provider Inchcape Shipping Services (ISS) has expanded its launch fleet with two more fast crewboats, bringing its total fleet size to 18 vessels. The two newbuild 42-meter vessels have been added in response to a growing demand in the oil and gas sector for

MacGregor Wins Orders for Pusnes Deck Machinery

Pusnes Deck Machinery (Photo: MacGregor)

MacGregor, part of Cargotec, announced it has secured orders for a series of Pusnes deck machinery packages for several shipowners. The Pusnes equipment has been specified for different ship types that are going to be built by the Hyundai Group and Sungdong Shipbuilding & Marine Engineering

Kalmar Machines for MIRRAT

The order includes four Kalmar DCE330-RoRo forklifts Photo Kalmar

  Kalmar, part of Cargotec, has received an order from Australia's newest and largest automotive and RoRo terminal due to open in April 2016. The terminal has been designed, constructed and will ultimately be operated by the newly formed Melbourne International RoRo and Automotive Terminal

Oman Shipping Names Two New Tankers

The recently named tanker Muscat Silver (image: Oman Shipping)

Oman Shipping Company (OSC) has performed the naming ceremony for two new product and chemical tankers – the Muscat Silver and Rustaq Silver.   The ceremony took place at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal

Cavotec Wins Port Equipment Orders

Photo: Cavotec

Press release- Global engineering group Cavotec has won five separate orders with a combined value of more than $9.6  million for some of its key innovative technologies, including the Group's MoorMasterTM automated mooring system and the new Automatic Plug-in System (APS)

DP World's Plan to Tackle Africa's Infrastructure Gap

DP World Chairman HE Sultan Ahmed Bin Sulayem

  A five point plan to help tackle Africa’s infrastructure gap is among the findings of a new DP World report to be unveiled at the Africa Global Business Forum this week.   Public private partnerships, domestic bond financing

Transas Launches High Voltage Training Breaker

Photo: Transas

Coming in response to recently introduced STCW requirements, Transas has launched a high voltage training solution for marine engineering and electrical training. The new rules require training to be conducted using real equipment, leading Transas to partner with the power technology specialist

ABB’s Norway Integrated Ops Center

Photo courtesy of ABB

ABB has unveiled a new Integrated Operations Center which allows ship owners to take greater control of their fleet from shore.   From the center, situated in Billingstad in Norway, its expert engineers can connect to any vessel anywhere in the world which is fitted with ABB technology

Damen Ice class Dredger for Rosmorport

Launching ceremony Courtesy Damen

This month Damen Shipyards Group launched ice class Trailing Suction Hopper Dredgers TSHD 2000 for Russian Port Agency FSUE “Rosmorport”.   Song Thu Corporation shipyard in Da Nang, Vietnam is building the Damen TSHD 2000 under Russian Maritime Register of Shipping (RMRS)

Manila asks Japan for South China Sea Patrol Boats

Japanese Prime Minister Shinzo Abe may consider a request from the Philippines for large coastguard ships to patrol the disputed South China Sea, after the two allies reached a deal on defence equipment and technology. China has overlapping claims with Brunei, Malaysia, the Philippines

Transpacific Container Lines Address Economic Pressures Ahead in 2016

Pic: Transpacific Container Lines

 In a container freight market challenged by volatility and facing the prospect of further consolidation, member shipping lines in the Transpacific Stabilization Agreement (TSA) have announced a phased increase in rates and a package of 2016-17 service contract guidelines intended to ensure

Frontline Reports Strongest 3Q

Frontline has one of the worlds largest fleets of VLCC and Suezmax tankers Credit Frontline

  * Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.

Fredriksen's Firms See Diverging Fortunes

Rig firm Seadrill sees tough market continuing in 2016. Firms in Norwegian-born billionaire John Fredriksen's empire saw contrasting fortunes on Tuesday, as rig firm Seadrill booked $1.8 billion in writedowns while tanker firm Frontline turned around its fortunes after years of turmoil.

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