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.
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
Philippines port operator International Container Terminal Services Inc (ICTSI) said on Wednesday it is raising $450 million through a bond issue. In a disclosure to the local stock exchange, ICTSI said its board of directors approved on Tuesday night the offering of new senior perpetual capital securities through subsidiary Royal Capital BV. (http://bit.ly/1hLsASV) The corporate bonds would yield 5.5 percent per annum and would be guaranteed by ICTSI.
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 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
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
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
Hoofddorp, the Netherlands, 27 April, 2015 – CEVA Logistics, one of the world's leading supply chain companies, today announced the appointment of two senior executives with deep sector-specific operations expertise to further drive its customer-focused Contract Logistics strategy. In its Contract Logistics business line, CEVA has established an industry sector and solutions approach led by industry operations experts in Automotive, Industrial, Technology, Consumer and Retail
New Jersey Governor Chris Christie on Friday said his transportation commissioner Jamie Fox would step down by the end of the month to return to the private sector after only a year in the position. Fox was previously a lobbyist with airline company United Continental Holdings Inc
Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore, DP and FMEA Group. Mr Kruszewski joins Braemar Engineering with immediate effect
Epic Gas Ltd has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction. The facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with Coordinator
Matson, Inc., a U.S. carrier in the Pacific, announced today the issuance of $75 million in 30-year final maturity senior unsecured notes pursuant to a previously announced private placement on July 30, 2015. The notes will have a weighted average life of approximately 13 years and will
Crowley Maritime Corp. took delivery of Ohio, the first of four new, Jones Act, product tankers this week from Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA. The delivery is momentous not only for Crowley
The sudden appearance of a submarine has caused excitement among hundreds of ferry users at Penang Port, Malaysia. The Australian navy submarine HMAS Sheean arrived in for a visit Penang at around 11.30am Monday. HMAS Sheean is in the port for the crewmen’s holiday before they
Kohler Power Systems, manufacturer of diesel and gasoline marine generators for a range of pleasure and commercial craft applications, is introducing new 175 kW (50 Hz) and 200 kW (60 Hz) models to its growing lineup of EPA Marine Tier 3-compliant diesel generators.
Ron L. Phillips has been appointed Senior Vice President of Human Resources – Office of People and Potential for Carnival Cruise Line. In this capacity, Phillips will oversee shoreside and shipboard human resources for the world’s largest cruise line
Jill Mackie will join shipbuilder and repairer Vigor’s executive team as senior vice president of public affairs, the company announced today. In her new role, Mackie will provide leadership and oversight of strategic communications, community and government relations at the local
Swire Pacific Offshore (SPO) announces a change in leadership with the appointment of a new Managing Director in Singapore. Mr Ron Mathison has taken over the helm as the new Managing Director on Monday, 21st September 2015. Mr Mathison has also been appointed as Director of John
NYK will begin car carrier transport service from Port Canaveral to Central and South Americas, starting October 10, 2015. The first vessel will be the MV Neptune Leader V 65. “With the relatively short trucking distance between Port Canaveral and the numerous auto and heavy
Seanergy Maritime Holdings Corp., a shipping company that owns and operates dry bulk vessels, has taken delivery of the first of seven newly acquired secondhand dry bulk vessels. The 170,024 dwt Capesize vessel, which has been renamed M/V Premiership
Press release - DP World’s flagship Jebel Ali Port has retained its leadership position by winning the Best Seaport – Middle East Award for the 21st year in a row at the Asian Freight, Logistics and Supply Chain Awards (AFLAS) 2015 in Hong Kong.
The President of Indonesia, HE Joko Widodo, today visited DP World flagship Jebel Ali Port where he was received by Chairman HE Sultan Ahmed Bin Sulayem and toured the leading integrated port and free zone facility that supports and drives the growth of Dubai and the wider region of some
Seaspan, an association of Canadian companies primarily involved in coastal and deepsea transportation, bunkering, ship repair and shipbuilding services, named three senior leaders to its corporate executive team, the company announced today.