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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.


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


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


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

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


Hike in Service Tax at Indian Ports

  The Indian Ministry of Finance has advised an increase in service tax and applicable at all ports. The effective date has not yet been announced. The rate of Service Tax will increase from 12% plus Education Cesses to 14%. The 'Education Cess' and 'Secondary and Higher Education Cess'


Added Value Innovation Drives Control of BWTS

Ian Hamilton (Photo: CMR Group)

Specifying for ballast water treatment systems can be a difficult process. Ian Hamilton, sales manager for marine electrical wiring control and instrumentation specialists CMR Group, offers guidance.   Ballast water, which is used to maintain balance and stability when a ship is empty of


EC Study on LNG as Shipping Fuel Reveals Industry Backing

LNG carrier LNG Pioneer. By MOL

 As efforts to combat climate change increase worldwide, pollution stemming from maritime shipping presents a particular challenge.     The study on the perception of the risks and opportunities of LNG as a shipping fuel is presented by the European Commission.  


Wheelabrator Opens Ontario Location

Marty Magill, Dave Taylor, Jennifer Taylor, Dave Foster, Mark Lambrix, Andrew Carmichael, Shawn Horton, Pierre Tanguay, Neil Moseley, Tim Ogden (Photo: Wheelabrator)

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington, Ontario.   The brand new office facility offers spacious conference rooms and modern work


Indian Shipping Policy Waiting for Final Nod

Image: The shipping ministry of India

 The shipping ministry of India had circulated a draft policy note seeking comments from various ministries ahead of its submission to the cabinet. But the finance ministry headed by Arun Jaitley is yet to offer its comments on the note, says a report in the Livemint  


Ledwidge Named CFO of Irish Continental Group

David Ledwidge (Photo: Irish Continental Group)

David Ledwidge has been appointed to the position of chief financial officer at Irish Continental Group Plc (ICG).   A Member of the Institute of Chartered Accountants Ireland and a Bachelor of Science graduate from Dublin Institute of Technology


BAE Systems Gets $1.3b for New UK Warships

Image: BAE Systems

The U.K. Ministry of Defense has signed a $1.3 billion contract with BAE Systems for equipment to build the next generation of warships for the British navy, Prime Minister David Cameron announced today. BAE Systems has been working on plans to provide Britain with 13 new warships since 2010


BIMCO's New Charter Contract for LNG Shipping

Image: BIMCO Headquarters

 With the amount of LNG traded on the spot market continuing to grow, the Baltic and International Maritime Council (BIMCO) is developing a new contract for the transportation of LNG under voyage charter terms.    This will add additional flexibility to the spot market and give


Malta Freeport Chosen by 2 Mega Alliances

Image: Malta Freeport Terminals Ltd

 Malta Freeport Terminals have been chosen by two mega shipping alliances -  2M Alliance and Ocean Three Alliance - as their main transshipment hub in the Central Mediterranean.   The '2M' Alliance is made up of Maersk Line and Mediterranean Shipping Company and the 'Ocean Three


Singapore Budget Sops for Maritime

Image: Singapore’s Maritime & Port Authority

 With a focus on improving maritime business sectors through a series of incentives to raise productivity, innovation, and internationalization the government of Singapore extended a number of its maritime incentives in its 2015 budget.  


Biggest Irish Port Project Gets Underway

(L-R) Michael Collins (Chairman,SFPC), Paschal Donohue (Minister for Transport, Tourism and Sport) and Patrick Keating (CEO, SFPC).

Ireland’s largest bulk port company, Shannon Foynes Port Company (SFPC), announced yesterday the commissioning of the first ports infrastructure project since the turn of the millennium, with a €50million capital investment programme at Foynes.


Greek Banks Mull Cutting Shipping Portfolios

Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources. Greece has secured an extension to its bailout from its European partners


NMM lines up Box Buy

Courtesy of Navios Maritime Partners

  Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration, an option to acquire a 2012 South Korean-built container vessel of 13,100 TEU from an unrelated third party


ADB Okays $30mln for Pak LNG Terminal

Image: Port Qasim

 The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s first liquefied natural gas (LNG) regasification terminal at the Port Qasim.  


COMPIT to Showcase Smarter Ships, Systems & Solutions

DNV GL COMPIT. Preview

  The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany. First held in the year 2000, COMPIT has established itself as a key conference in information technology (IT) for the






 
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