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
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
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.
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
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
Marine terminal operator DP World, UAE Region, has reached an agreement with an affiliate of The Dow Chemical Company based in Jebel Ali to support the distribution of Dow‘s products. The contract was signed recently by Mohammed Al Muallem
Mundra International Container Terminal (MICT) received the Gateway Award for Container Terminal of the Year in recognition of its performance, operational excellence, growth in throughput and breaking the one-million-TEU mark.
Webb Institute announced Michael T. Martin, PE as its new Assistant Professor of Electrical Engineering. Prof. Martin has over 23 years of experience as a marine electrical engineer with a broad background in electrical systems including, electrical propulsion, power generation, power distribution
U.S. shipbuilding and repair yard Great Lakes Shipyard informs it has signed a contract to build another of its HandySize Class, 3,400 HP twin-screw tugboat for harbor towing operations in Puerto Quetzal, a commercial cargo, container and cruise port located on the Pacific coast of Guatemala in
Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Folha said police searched for documents that could prove their
Up to 2,500 shipbuilding jobs in Adelaide will be safe for "all time", the Prime Minister says, ahead of the expected announcement to build a new fleet of Navy ships worth $39 billion, reports ABC. However, he said naval shipbuilding jobs in Adelaide would drop from about
After four groundbreaking years as head of the UK Ship Register (UKSR), Debasis Mazumdar is moving on to become CEO of the London-headquartered St Kitts & Nevis International Ship Registry (SKANReg), with a mission to drive further growth for the ambitious ten-year-old Caribbean flag state.
VT Halter Marine, Inc., the Pascagoula, Miss. based shipbuilding subsidiary of Vision Technologies Systems, Inc., today announced several promotions within its leadership team. The shipbuilder named Richard A. Zubic (Rick Zubic) to Executive Vice President
Worldwide shipping group CMA CGM informs that two of its containerships are leading a vessel procession that celebrates the inauguration of the newly expanded Suez Canal on Thursday, August 6. The two vessels at the head of the procession, CMA CGM Laperouse and CMA CGM Titan
Genco Shipping & Trading Limited takes delivery of Ultramax newbuilding Baltic Scorpion to commence spot market-related time charter Drybulk cargo shipper Genco Shipping & Trading Limited announced that it has taken delivery of a 64
Carnival Corporation names Michael Ungerer to new Chief Operations Officer Role for Asia, also appoints Felix Eichhorn as President of AIDA Cruises Carnival Corporation & plc announced that Michael Ungerer, currently President of Germany-based AIDA Cruises
Danish dry cargo and tanker shipping company Dampskibsselskabet Norden A/S informs it has combined a number of management functions in order to reduce its executive management team from five to three members. “With the changes we are consolidating a number of functions creating a
A new report released today by Oil Change International and Greenpeace USA details a clear case against drilling for oil in the Arctic ocean based on climate science imperatives. The report, “Untouchable: The Climate Case Against Arctic Drilling,” shows U.S
BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015.
Owners, operators, masters, senior officers and all others on board a tanker ships have a responsibility to comply with good and correct tanker practice, including all proper safety and operational standards. Oil Tankers – A Pocket Safety Guide