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.
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
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
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
Satellite communications company, Globalstar, has reported its results for the quarter ended June 30, 2001, which showed steady increases in both voice and data traffic, with a broadening base of new customers among key industry targets. Efforts to restructure the company's finances are continuing with the assistance of outside advisors. In the meantime, the company's marketing and sales efforts are showing growing acceptance of the service across industries and government organizations
Philadelphia Gear Corporation announces the hiring of Stephen Verget to the position of Chief Financial Officer (CFO). Verget replaces Matt O'Reilly, and will be responsible for leading all accounting, financial analysis and treasury functions for Philadelphia Gear. He will also play a key leadership role in defining and executing Philadelphia Gear's evolving business model focused on specialized gear aftermarket service and marine propulsion drives.
Bollinger Shipyards, Inc. has delivered the Charles Sexton, the eighth Fast Response Cutter (FRC) to the United States Coast Guard. The announcement was made by Bollinger President, Chris Bollinger, “We are very pleased to announce another successful on-time and on-budget FRC delivery to
HMAS Tobruk has completed its mission in the Philippines and is returning to Australia with a load of Army engineer machinery, vehicles and 35 Army personnel. A small Recovery Support Force of 65 combat engineers, tradesmen and support personnel
Portable machining and welding systems company CLIMAX hire Thomas Pesch to further accelerate international growth in the role of Vice President of Global Operations. The move marks CLIMAX’s continued focus on growing its international market capabilities and improving operational
Nordic American Tankers Limited inform that, in connection with its previous public offering of 8,125,000 common shares at a public offering price of $8.00 per share, the underwriters have exercised a portion of the option granted to them by the Company and will purchase an additional 1,018
In the operation and development of a sour gas field, a key challenge is ensuring the process safety and integrity of the asset and, most importantly, the safety of the personnel working with high concentrations of hydrogen sulphide (H2S). To help the industry manage the risks throughout the
Marine Propulsion Systems, a business unit of ZF Friedrichshafen AG, shared at the sidelines of Marintec China 2013 that China continues to be a key focus for the company and shared plans to strengthen its footprint in the market. ZF Marine has been in China since 2006 and currently operates a
The Long Beach City Council voted unanimously to confirm Mayor Bob Foster’s appointment of the City’s former Chief Financial Officer (CFO) Lori Ann Farrell to the Board of Harbor Commissioners, which oversees the Port of Long Beach and the staff of the City’s Harbor Department.
Regarded by many as the only gateway to the Asian maritime market, Marintec China 2013 has opened with due ceremony in Shanghai. With a significant increase in the floor area from 2011, this year's Marintec China covers more than 70,000 square metres
This past week in California, HGH Infrared Systems participated in the Offshore Platform Security Threat Awareness and Response (OPSTAR) program, developed and conducted by the Naval Postgraduate School’s Center for Asymmetric Warfare, and designed to explore the homeland security
New Zealand Government Transport Minister Gerry Brownlee has announced a $2 million package to help Maritime New Zealand (MNZ) improve New Zealand’s wider maritime response capability following an independent review of its response to the grounding of the container ship 'Rena' off the coast
David Sneddon is to succeed Robert Hingley-Wilson as Chief Accounting Officer and Senior Vice President of Seadrill Management Limited. Mr Sneddon joined Seadrill effective December 1, 2013 as Senior Vice President and Chief Accounting Officer
Marine and fire safety equipment leader VIKING Life-Saving Equipment (VIKING) and MOL Techno-Trade Ltd. (MOLTECH) have entered a strategic alliance and sole agency agreement, establishing MOLTECH as the exclusive agent for VIKING in Japan.
International private maritime security company Sea Marshals Ltd. has expanded into new premises to cope with its growing workload, particularly in the Gulfs of Guinea and Aden. Sea Marshals marked its expansion with an open evening held at its new 4
Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American
Ship Finance International Limited announced its preliminary financial results for the quarter ended September 30, 2013, reporting preliminary 3Q 2013 results and quarterly dividend of $0.39 per share Hamilton. Highlights Declares third quarter dividend of $0.39 per share