The Manitowoc Company, Inc. named Timothy M. Wood as its new senior vice president and chief financial officer. He assumes the role from Carl J. Laurino, corporate treasurer, who had been serving on an interim basis since May. Wood, 54, of Chicago, brings 30 years of financial experience to the post. He previously held the same title at Redem Technologies, but spent the bulk of his career - 23 years - with Borg-Warner Corporation. For six years, he served as vice president of finance and chief financial officer for the billion-dollar company.
Blount/Barker ShipBuilding, Warren, R.I. has elected Jacob A. Stevens III as its new senior vice president. A well-known shipbuilder, whose career highlights include the construction of six 92 ft. (28 m), 4,000 hp Marci-Class Z drive tug boats in under 20 months for Moran Towing, Stevens will be responsible for all shipyard operations including engineering, design, labor, purchasing, scheduling and working with outside contractors.
American Commercial Lines LLC and its affiliated debtors today filed their Joint Plan of Reorganization in the United States Bankruptcy Court, Southern District of Indiana, New Albany Division. ACL and its affiliated debtors, including American Commercial Barge Line LLC and Jeffboat LLC, filed for Chapter 11 protection on January 31, 2003. Richard L. Huber, Chairman and Chief Executive Officer of ACL said “This reorganization of ACL as a stand-alone company provides the best recovery to the
Stolt-Nielsen S.A. announced plans to issue new senior five-year unsecured bonds with a term from April 15, 2004 to April 15, 2009. The senior five-year bonds will have a fixed yearly coupon of 8.75%. The first tranche of the senior five-year bonds will be NOK 500-700 million, with a total borrowing limit of NOK 1 billion. The nominal value of the senior five-year bonds will be NOK 500,000. The purpose of the bond issue is to refinance
Neptune Orient Lines (NOL) Group President & CEO Ronald D. Widdows announced new senior management appointments to head the Group’s APL Logistics business unit and its South Asia Region organisation. Jim McAdam has been promoted and assumes the position of President, APL Logistics, the unit of the NOL Group that provides international supply chain capabilities for customers globally. He replaces Brian Lutt who recently left the Group to pursue other opportunities.
Crowley Maritime Corporation's group recently completed the sale of 2.836 acres of unimproved land to Nenana Tortella Council on Aging for a mere $500. The lot, which has a market value of $25,000 upon recent appraisal in 2013, will be used by the council as a community match which is required to secure additional funds for a desperately needed, new Senior Center. Crowley’s Nenana terminal serves as a loading port for barges making fuel and freight deliveries to communities on the
American Commercial Lines LLC (ACL) announced that on April 15, 2002 it commenced an offer to the holders of its outstanding senior notes to exchange new 11-1/4% cash pay senior notes due January 1, 2008 and new 12% pay-in-kind senior subordinated notes due July 1, 2008 for its outstanding 10-1/4% senior notes due June 30, 2008. In connection with the exchange offer, ACL is also soliciting its noteholders to (1) become party to, and a beneficiary of, a mutual release
Trico Marine Services, Inc. has closed its previously announced refinancing of its existing U.S. revolving credit facility ("U.S. Dollar Facility"). The Company refinanced the U.S. Dollar Facility to relieve the Company of the maintenance debt covenants under that existing facility and to add operating flexibility. The Company's new $55 million senior secured credit facility ("New Credit Facility") is secured by 43 supply vessels. The
WQIS has learned that even market leaders and pioneers need to stay dynamic and never get complacent. Shaking things up can break barriers for even the strongest organizations. By insuring some 35,000 vessels, across every major waterway in the US, WQIS says it has earned the backing of 16 of the largest insurance companies in the United States. For a company with these credentials, it would be easy to settle into a routine
Trailer Bridge, Inc. announced the appointment of Dave Miskowiec to the role of Executive Vice President, Commercial. In his new role he will be responsible for all commercial activity focusing on automotive, NVOCC and charter barge - heavy lift sectors within Trailer Bridge. Mr. Miskowiec began his career at Trailer Bridge in May of 1997 and has since served in numerous executive capacities, most recently as Vice President of Sales.
U.S. President Barack Obama told Russian President Vladimir Putin on Monday that the United States preferred a diplomatic solution to the crisis in Ukraine but blasted Russia for taking actions that were not "conducive" to such a path.
ESAB has announced that Colfax Corporation has completed the previously announced acquisition of Victor Technologies Holdings, Inc. Victor is a preeminent global manufacturer of cutting, gas control and specialty welding solutions with many strong brands that are well-recognized around the globe
On March 21, 2014, senior management from N-KOM and Nakilat attended the launching and naming ceremony of N-KOM’s Q-Max sized floating dock at Hyundai Samho Heavy Industries in South Korea. 42,000T of fabrication work has been completed for the floating dock named Laffan
Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes, announced today that WireCo has acquired the assets of Endenburg B.V., a Netherlands-based company
Ryan Flynn is returning to Konecranes Plc and he has been appointed Executive Vice President and Head of Business Area Equipment. Flynn will be a member of the Konecranes Group Executive Board and will report to Pekka Lundmark, President & CEO
International Transport Workers’ Federation (ITF) president Paddy Crumlin has met with key stakeholders in Auckland, New Zealand, about the ongoing campaign to secure NZD30 million in unpaid wages for fishers in the region. The ITF has contributed to Slave Free Seas’ campaign to
Greek drybulk cargo ship owner, Paragon Shipping, informs it has entered into a firm commitment with a European bank syndicate to partly finance up to 60 % of the market value of their two new Ultamax newbuilds due to be delivered in 2015. The new $120
Women have a significant role to play in the development of the maritime sector in the Caribbean, region but in order to survive and thrive they need access to professional training and education systems backed by internationally recognized and enforced employment standards.
Edward Scott, chief operating officer of Excelerate Energy, will deliver the keynote address at the SHIPPINGInsight 2014 Marine LNG Symposium, Sept. 30 in Stamford, Conn. The Marine LNG Symposium is a forum dedicated to all aspects of conversion to LNG as a marine fuel
The Seamen’s Church Institute (SCI) announces the recipients of awards it will confer at its 37th Annual Silver Bell Awards Dinner in New York City on Thursday, June 5, 2014. SCI presents the Silver Bell Award, in recognition of outstanding leadership in the maritime community, to Orrin H
Silver Discoverer, Silversea's latest addition to its award-winning expedition fleet, welcomes her first guests today, exactly 20 years to the day since the company launched its first ultra-luxury cruise ship. Setting sail at 4:30 p.m. on her inaugural voyage from the port city of Broome
BMT ARGOSS (BMT), a subsidiary of BMT Group, has announced the award of a number of metocean assessments for Tullow Oil Plc., including comprehensive overviews of meteorological and oceanographic conditions in West Africa and South America, to help support the company’s offshore oil and gas
The United States on Friday dismissed suggestions that Iran was exporting much more oil than it is allowed to sell under a preliminary nuclear deal with world powers and predicted that aggregate Iranian oil sales would meet targets set for Tehran.
Online registration is now open for SHIPPINGInsight 2014, North America’s premier maritime industry technical forum, scheduled for Sept. 30 - Oct. 2, 2014 at the Sheraton Hotel in Stamford, Conn. Now entering its third year
China's imports of coal in 2014 are expected to remain at the same level as last year, with demand growth slowing and the domestic market already well-supplied, a senior energy official said on Thursday. China imported 267 million tonnes of coal for the whole of 2013