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KEY EQUIPMENT FINANCE

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.


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.


BRAZIL: U.S. Find New Opportunities

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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


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


Trico Marine Announces Financing Arrangement

Trico Marine Services, Inc. announced that Trico and GE Commercial Equipment Financing have entered into an agreement that will provide approximately $11.4 million of funding for the marine services company. Under the operating lease arrangement, GE will pay Trico approximately $11.4 million for three 155-foot crew boats currently being built for the company by Gulf Craft, Inc. Upon the completion of each vessel, GE will charter the vessels to Trico


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


Brent Oil Hits 26-month Low Under US$97

HFO: File image

 Brent crude oil on Monday slumped to its lowest in over two years, below $97 per barrel as lacklustre economic data from China, the world's top energy consumer, cast a shadow over the outlook for oil demand at a time of abundant supply.


IGCC System for Tokyo Electric Power

Artists View of IGCC Plant

  A consortium led by Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has received an order from Tokyo Electric Power Company, Incorporated (TEPCO) for design work for a large-scale integrated coal gasification combined-cycle (IGCC) system to be adopted for a project to create the world's most


Twin Disc Mid-Atlantic Hires Ricky White

Ricky White: Photo Mill Log

Mill Log Equipment Company DBA Twin Disc Mid-Atlantic informs it has hired Ricky White as the Territory Manager for the southern Mid-Atlantic States to include the state of North Carolina (less the Outer Banks), and South Carolina. Ricky will operate out of the full service Rock Hill


USCG Repatriates Cuban Boat Migrants

The Cutter Dauntless smallboat crew inspects a rustic vessel used by 20 Cuban migrants south of Dry Tortugas, Florida, Sep. 6, 2014. The migrants were later repatriated by the crew aboard the Coast Guard Cutter Knight Island. U.S. Coast Guard photo.

The U.S. Coast Guard (USCG) Cutter Knight Island repatriated 45 Cuban migrants to Bahia de Cabañas, Cuba, Wednesday. These repatriations are a result of two separate interdictions of people attempting to illegally migrate to the United States through the Florida Straits.


KVM in Maritime Use

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Special fields of application such as maritime environments pose extreme working conditions for IT devices. A challenge faced by KVM manufacturer Guntermann & Drunck who optimized their products for the use in maritime applications: ship bridges, control rooms


Sea Trucks Signs $130m Facility for Offshore Newbuild

Jascon 18 at Kwong-Soon shipyard

Sea Trucks Group Limited, an international oil and gas marine contractor with a track record in the key oil and gas producing regions, particularly West Africa, announced a $130 million facility to finance the completion of Jascon 18 has been signed.


MAN's PrimeServ Clinches DOF Service Deal

 Pictured at the signing ceremony: (standing, from left) Mikael Adler – Managing Director, MAN Diesel & Turbo, Norway; Serghei Nastas – MAN PrimeServ O&M Sales Manager; Dr. Stephan Timmermann – Member of Executive Board, MAN Diesel & Turbo; Stefan Eefting – Vice President, Head of MAN PrimeServ; (seated, from left) Lars-Heine Njåstad – Chief Procurement Officer, DOF; and Wayne Jones – Senior Vice President, Head of MAN PrimeServ Diesel

SMM signing ceremony commits DOF to five-year Framework Service Agreement At a signing ceremony at SMM, the international marine trade fair in Hamburg, MAN PrimeServ, MAN Diesel & Turbo’s service division, signed a service framework agreement with DOF ASA


Transas Launches a Versatile T-Bridge

Transas T-Bridge

Transas Marine has expanded its extensive product portfolio with the launch of the T-Bridge, the most advanced integrated navigation system where professional bridge equipment meets aviation, automation and even tablet technology.  


Baker Hughes Names Kimberly Ross as CFO

Kimberly A. Ross

  Baker Hughes Incorporated has today announced appointment of Kimberly A. Ross, as Senior Vice President and Chief Financial Officer (CFO) effective October 22, 2014. Ross currently serves as Executive Vice President and CFO of Avon Products, Inc


DOT Holdings Takes Half-Interest in New OSV

OSV: Image courtesy of Oceanteam

Oceanteam Shipping ASA says that it has secured, through its joint venture DOT Holdings AS, an interest in a new build Offshore Support Vessel, and as a result a 
partnership with Pacific Radiance Ltd., subject to certain conditions subsequent, has been established.


Brambles Acquires Ferguson Group

Photo courtesy of the Ferguson Group

The Ferguson Group announces that it has been acquired by Brambles Limited for an enterprise value of £320 million. Brambles Limited is a supply-chain logistics company operating in more than 50 countries, primarily through the CHEP and IFCO brands


New Features Added to Revamped XChange

Airbus Defense and Space has added new features to its XChange communications management platform with the release of version 3.1 at SMM 2014. Headlining the new version is a unique system that provides Universal Remote Access to any device connected to on board networks or the IT network itself


New Integrated Bridge Solution from Transas

Image: Transas

Transas Marine expanded its product portfolio with the launch of the T-Bridge, an integrated navigation system that meets professional bridge equipment with aviation, automation and tablet technology. The new Transas T-bridge brings together diverse systems into a single bridge environment


MN 100: Hyde Marine, Inc.

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2000 McClaren Woods Drive Coraopolis, PA  15205 Tel: (724) 218-7304    E-mail: mriggio@hydemarine.com Website: www.hydemarine.com President & CEO: John Platz The Company: Hyde Marine, Inc. is a US-based manufacturing company offering ballast water treatment systems


AW-Energy to Tie-up with LR to certify WaveRoller™ technology

WaveRoller™ technology

  The world-leading Finnish wave energy technology developer AW-Energy has taken another major step towards commercialising its WaveRoller™ technology. In mid-August the company signed a Framework Agreement with the independent certification organisation Lloyd’s Register Energy






 
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