New Senior

Manitowoc Appoints New Senior Vice President

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 Appoints New Senior V.P.

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.

ACL Files Reorganization Plan

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. Announces Bond Issue

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

Trico Announces Completion of New Senior Secured Credit Facility

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

NOL Key Senior Appointments

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.

SENESCO Names Schuler as New CEO

The Southeastern New England Shipbuilding Company (SENESCO) has appointed Gary C. Schuler, the former President of Stanley-Bostitch, as the company’s CEO. In addition to his new post as CEO, Schuler becomes one of two private investors in SENESCO having made a personal investment in the fast growing company. Robert Jarvis, who has served as President of SENESCO for the past two years, will continue in this position and also serve as the COO.

GD Appoints Welch As Senior VP

General Dynamics (GD) has named John K. Welch as senior vice president of the corporation and head of the marine systems group, which includes all of the company's shipbuilding and marine service operations. Welch will report to Nicholas D. Chabraja, GD chairman and CEO, at the company's Falls Church, Va. headquarters. Welch, who has been a vice president of the corporation and president of the company's Electric Boat business since 1995, will succeed James E. Turner, Jr

Keppel Elects New Executive Chair

Keppel Corp. Limited and Keppel TatLee Bank Limited have appointed Lim Chee Onn as executive chairman upon the retirement of Sim Kee Boon, effective January 1, 2000. Boon will continue to act as senior advisor to the Keppel Group. Onn, who holds a BSc in Naval Architecture from the University of Glasgow and a Masters in Public Administration from Harvard University, has been senior executive director of Keppel Corp. since September 1983

ACL Outlines Restructure Plan

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