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. Prior to joining Blount/Barker, Stevens was production and project supervisor at Washburn & Doughty Associates. While there, Stevens implemented an in-house CAD technology to facilitate quick design adjustments and e-mail communication with subcontractors. Instead of building one Marci-Class tug at a time for Moran, he developed a modular approach to production, used subcontractors for bulkier vessel prices, and created more efficient work routines to enable workers to duplicate processes multiple times.
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
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 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
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
Stolt-Nielsen Limited is contemplating the issuance of new senior unsecured bonds in the Norwegian bond market with a minimum amount of NOK 700 million ($89 million). Proceeds will be used for general corporate purposes. The offering will be made to (i) Norwegian professional investors and eligible counterparties as defined in the Norwegian Securities Trading Regulations Sections 10-2 to 10-4, (ii) to non-"United States persons" in "offshore transactions" within
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.
The Board of Trustees for the Cleveland-Cuyahoga County Port Authority today unanimously elected Chris Ronayne as new board chair. As President and CEO of University Circle, Inc., which oversees the growth and direction of one of Ohio’s fastest growing employment district
Mitsui O.S.K. Lines, Ltd. today announced the appointment of a new chairman and president. Current President and Representative Director Koichi Muto will assume the position of Representative Director and Chairman, and current Director and Senior Managing Executive Officer Junichiro Ikeda
Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's senior secured debt and increased credit availability. Rand said in a statment that the refinancing accomplishes the following
The Israel Navy’s fourth submarine, the ISS Tanin (Crocodile), is expected to become fully operational in a few weeks and participate in naval operations. The nuclear-capable submarine boasts an array of sophisticated weaponry
Tore Sjursen will assume the position as executive vice president for operational improvement and risk management at Aker Solutions on April 1. Knut Sandvik will at the same time replace Sjursen as head of the company's maintenance, modifications and operations business.
Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.1 percent. The placement was oversubscribed. The settlement date for the bonds will be April 8, 2015
"Our first three months of Emission Control Area operation have run without a hitch," said Carisbrooke Shipping CEO Robert Wester. "We put this down to careful preparation supported by the skill and diligence of our sea staff."
IRClass (Indian Register of Shipping) has established a senior level advisory committee in the United Arab Emirates in an effort to increase activity and foster business links in the region. The committee comprises of 11 senior representatives from the shipping industry in UAE and is headed by
Mitsui O.S.K. Lines, Ltd. today announced the graduation of 105 students in the fourth class of the "3rd Year Program," which MOL introduced with the goal of developing crewmembers who will uphold strict safety standards in vessel operation.
The maiden voyage of Crowley Liner Services’ new flat-deck barge will end on Monday when the barge is scheduled to arrive in San Juan with a full 400-load delivery. The vessel’s deployment is a major part of Crowley’s rapid response to the sudden departure of Horizon
The new General Manager for Egypt is Dr Hans-Hermann Ecke, who is responsible for the business of the Egyptian subsidiary of DEA Deutsche Erdoel AG based in Cairo since the beginning of March. “I am looking forward to the upcoming tasks in Egypt
The on-time percentage of liner services improved slightly in February, but the ships that missed their berthing window missed it by a wider margin due in large part to labor strife at West Coast U.S. ports, according to this month's Carrier Performance Insight from Drewry.
Statoil was today awarded new exploration acreage through the Aru Trough I licence offshore Indonesia. The licence covers an area of approximately 8,300 square kilometres, adjacent to Statoil’s existing exploration acreage in the Aru and West Papua IV licences
Aker Philadelphia Shipyard ASA informed that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has executed definitive documentation with PIDC Regional Center, LP XXXI for a secured term loan of up to USD 60 million.
India's state-owned Gail India Ltd would reissue the multi-billion dollar tender to build three massive liquefied natural gas (LNG) carriers in India with “changed norms”, reports Financial Express. There has been news that GAIL has scrapped a tender that would have led