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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


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.


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


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


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


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


Coast Guard Cutter William Trump Commissioned

Collette Eddy, daughter of William Trump, presents Lt. Jared Harlow a plaque during the commissioning ceremony for the Coast Guard Cutter William Trump at Coast Guard Sector Key West, Fla., Jan. 24, 2015. Coast Guard hero,

  The Coast Guard Cutter William Trump was commissioned during a ceremony at Coast Guard Sector Key West Saturday Jan. 24, 2015. The Trump is the 11th fast response cutter in the Coast Guard fleet. Rear Adm. Jake Korn served as the presiding official at the Cutter William Trump


Port of Indiana-Jeffersonville Sets Shipping Record

Grain, steel, salt help port exceed 2 million tons for first time in 29-year history   The Port of Indiana-Jeffersonville handled over 2.4 million tons of cargo in 2014, up 48 percent from the previous year. This was the first time annual shipments exceeded two million tons in the port's


Sino-Global to Acquire Tanker

RONG ZHOU

  Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"), between the Company and Rong Yao International Shipping Limited


Ghana Wants to Expand Maritime Industry

Image:  Ghana Ports and Harbours Authority

Port authorities in the West African states must act together to explore the full potential of the region's maritime industry to enable them compete in the global economy, Richard Anamoo, Director-General of the Ghana Ports and Harbours Authority (GPHA), has said.


Russia Sets Clear Agenda for Competitive Opportunity

  Russia’s renewed focus on the commercial shipbuilding industry was set as a key aim by Prime Minister, Dmitry Medvedev in his recent discussions on the development of the sector through 2015. Various industry ministries have been charged with analysing industry prospects until 2030


SCI’s New Chapter in Maritime Training

Seamen’s Church Institute (SCI) launched an initiative on December 10, 2014 aiming to transform training for America’s inland mariners at its Center for Maritime Education in Paducah, KY.   The day before its 15th Annual River Bell Awards ceremony


Venezuela's Oil Falls to $42.44

Image for Venezuelas oil

  Venezuela's petroleum export basket dropped to $42.44 per barrel this week from $47.05 last week to reach a 5-1/2-year low, the Petroleum Ministry said on Friday. The South American OPEC member's basket, which includes crude oil and refined products


Bleavins Named CFO at Port of LA

Marla Bleavins (Photo: Port of Los Angeles)

The Port of Los Angeles has appointed Marla Bleavins as its Chief Financial Officer. Bleavins will oversee the port’s financial affairs, which include accounting, financial management, debt and treasury, risk management and audit functions


Port Updates Uderway in Santiago de Cuba

Image: Guillermón Moncada Port

With Chinese and Cuban construction specialists survey, the work on a new multipurpose terminal at the Guillermón Moncada Port in Santiago de Cuba has officially began.   This large multipurpose maritime terminal for Santiago de Cuba will convert the present harbour into an


Japan Lends Kenya $270m to Help Expand Mombasa Port

Kenya signed a $270 million loan deal with Japan on Friday to help expand capacity at Mombasa port, a busy facility that is the main trade gateway to east Africa.   The port handles fuel, consumer goods and other imports for Uganda, Burundi, Rwanda, South Sudan


UNDP and IMO Chiefs Meet

UNDP Administrator Helen Clark with IMO Secretary-General Koji Sekimizu (Photo: IMO)

United Nations Development Program (UNDP) Administrator Helen Clark met International Maritime Organization (IMO) Secretary-General Koji Sekimizu at IMO Headquarters on January 20, where the two highlighted common commitment to sustainable development and discussed the important role of maritime


Kalmar Automation System for Melbourne's CT

Photo : Kalmar

  Kalmar, part of Cargotec, has been awarded a contract to provide an integrated automation system to handle operations at Victoria International Container Terminal Ltd's (VICT) new terminal in Melbourne, Australia. According to the contract


Oman Drydocks Handls 300th Vessel

Image: Oman Drydock Company

 The Oman Drydock Company has celebrated the handing over of the 300th vessel since starting its operations in 2011, under the auspices of Said bin Hamdoon al Harthy, Undersecretary of the Ministry of Transport and Communications for Ports and Marine Affairs.


Dynamic Positioning & the Potential for USCG Regulations

POSH Xanadu is a new generation DP3 Semisubmersible Accommodation Vessel (SSAV) for PACC Offshore Services Holdings Limited (POSH). (Photo courtesy of PACC Offshore Services Holdings Limited)

  Dynamic positioning is a vessel capability provided by integration of a variety of individual systems and functions to automatically maintain a vessel’s position and heading by use of the vessel’s propellers and thrusters, and has been in use


Upgraded Winch Control from Rexroth

New DS2R electrohydraulic controller with proportional valve is now available for the Rexroth hydraulic axial piston units that function as secondary control devices in offshore winch applications (Image: Bosch Rexroth)

Bosch Rexroth has upgraded the electrohydraulic controller used on the company’s A4VSO and A4VSG hydraulic axial piston components, which function as secondary control units in the Rexroth Active Heave Compensation (AHC) system for offshore winching applications.  






 
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