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ConocoPhillips Announces Senior Management Changes

ConocoPhillips announced the following actions concerning the company's senior management: John Carrig, currently executive vice president, Finance, and chief financial officer, will become president and chief operating officer.  He will continue to report to Jim Mulva, chairman and chief executive officer. Jim Gallogly, currently executive vice president, Refining, Marketing & Transportation, will become executive vice president, Exploration & Production. Willie Chiang, currently senior vice president, Commercial, will become senior vice president, Refining, Marketing & Transportation. Greg Goff, currently president, Strategy, Integration and Specialty Businesses for Refining, Marketing & Transportation, will become senior vice president, Commercial. Ryan Lance will remain president, Exploration & Production – Europe, Asia, Africa and the . Messrs. Sig Cornelius, currently senior vice president, Planning, Strategy & Corporate Affairs (PS&CA), will become senior vice president, Finance, and chief financial officer. Jeff Sheets, currently vice president and treasurer, will become senior vice president, Planning & Strategy. Red Cavaney, who will retire from his position as president and chief executive officer of the American Petroleum Institute on Oct. 31, 2008, will become senior vice president, Government & Public Affairs in November 2008. 

Crowley Announces Management Team for Petroleum Services Group

Crowley Maritime Corporation announces the appointment of Bruce Barto to vice president and general manager of its newly formed Petroleum Services group based in Seattle. Barto has profit and loss responsibility for Petroleum Services and reports directly to Tom Crowley Jr., chairman, president and CEO of Crowley Maritime Corporation. Reporting to Barto are Bruce Harland who has been promoted to director, operations and will be relocating from Houston to Seattle; Jim Dwight, sales manager

Trico Marine Names New VP

Trico Marine Services, Inc. announces the appointment of Robert V. O'Connor as Senior Vice President of Business and Strategic Development. Prior to joining Trico, O'Connor spent in excess of 20 years in the marine transportation business in commercial, technical, and financial roles with domestic and international companies. Most recently, he spent the past five years with The CIT Group, Inc., a leading commercial and consumer finance company, as Vice President of financial sales

DOT Issues Broad Agency Announcement

The Department of Transportation (DOT) has issued a Broad Agency Announcement discussing the Port Security Grant Program. The program is coordinated by the Transportation Security Administration (TSA), with assistance from the U.S. Coast Guard and the Maritime Administration. TSA is awarding competitive grants to critical national seaports to finance the cost of enhancing facility and operational security. Eligible parties consist of critical national seaports and terminals

MarineCFO Secures Series A Round

MarineCFO Inc., announced that it has closed a Series A Financing Round. The round was led by EmergingISV Capital Partners  also investing were customers and select individuals active in the marine transportation and energy industries.

China & Taiwan Agree to Open Up Cross Straits Trade

China's mainland and Taiwan sign an agreement to open up their service sectors, including transportation. The signing in Shanghai followed two years of negotiations, reports Shanghai Daily, and will take effect later this year. Under the agreement signed by the mainland-based Association for Relations Across the Taiwan Strait and the Taiwan-based Strait Exchange Foundation, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland

Blueprint For Transportation System Unveiled

Addressing a projected increase in waterborne commercial vessel traffic that is expected to double or triple over the next 20 years, U.S. Secretary of Transportation Rodney E. Slater issued a major report, An Assessment of the U.S. Marine Transportation System, outlining recommendations to meet the growing challenges to the nation's marine transportation system (MTS). The recommendations include improved vessel traffic management to ensure safety and greater focus on operational efficiencies

Martin Midstream Acquires Marine Services Assets

Martin Midstream Partners L.P. has completed the acquisition of marine services assets from Tesoro Marine Services, L.L.C., a subsidiary of Tesoro Petroleum Corporation, a refiner and marketer of petroleum products. MMLP purchased assets associated with Tesoro's shore based marine activities for $25 million plus approximately $1.8 million for Tesoro's lube oil inventories. The assets acquired include 13 marine terminals located along the Gulf Coast from Venice, Louisiana to Corpus

Matson Planned Separation on Track

Matson finalizes post-separation financing arrangements, maintains strong balance sheet as a stand-alone company‚Ä® Alexander & Baldwin Holdings, successor by merger to Alexander & Baldwin, Inc., has announced that its wholly-owned subsidiary, Matson Navigation Company, Inc. ("Matson Navigation"), has entered into a series of debt financing agreements undertaken on behalf of Matson, Inc. ("Matson") as part of the previously announced plan to separate the Company's

WFW Advises ING Bank on $340m Loan Facility for Euronav

wfw logo.jpg

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV. The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes

ACL Acquires AEP River Operations

Mark Knoy (Photo: American Commercial Lines)

 Marine transportation service company American Commercial Lines (ACL) announced it has acquired commercial inland barge company AEP River Operations from American Electric Power (AEP).   AEP River Operations is based in Chesterfield, Mo., with operations in Paducah, Ky

Rescue Ship Idar Ulstein Named in Norway

Gunvor Ulstein (Photo: ULSTEIN)

The search and rescue boat Idar Ulstein was named in Ulsteinvik today, becoming the latest newbuild to join the fleet of the Norwegian Society for Sea Rescue.   RS Idar Ulstein is also the first vessel in the new Ulstein class, named after ULSTEIN’s long-time CEO

Georgia Ports' Container Volume Up 3%

Customer demand has required a steady increase in capacity at the Ports of Savannah and Brunswick Courtesy Georgia Ports Authority  Stephen B. Morton)

  The Georgia Ports Authority handled a total of 321,094 Twenty-foot Equivalent Unit (TEUs) containers in October 2015, an additional 9,335 units, or 3 percent increase over the same period last year. For the fiscal year to date (July-October), the GPA has moved 1

Frontline Reports Strongest 3Q

Frontline has one of the worlds largest fleets of VLCC and Suezmax tankers Credit Frontline

  * Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.

Commerzbank Slashes Ship Finance Portfolio

Pic: Commerzbank

 The German lender Commerzbank is making money in tough market as it sheds another $1.2bn of ship loans.   For the first time ever, Commerzbank's shipping portfolio stands at less than EUR 10 billion, according to the third quarter interim report

New Barge Fleeting and Switching Operation in Cairo Harbor

 American River Transportation Company (ARTCO), a subsidiary of Archer Daniels Midland Company (ADM), today announced plans to launch new barge fleeting and switching operations in the Cairo, Illinois, harbor starting January 1, 2016.   

VT Halter Launches Another ATB Tug for Bouchard

M/V Morton S. Bouchard Jr.  6,000hp Twin Screw ATB tug (Photos: VT Halter)

Shipbuilder VT Halter Marine, Inc. and Bouchard Transportation Co. Inc. announced the launch of M/V Morton S. Bouchard Jr., a 6,000hp Twin Screw Articulated Tug Barge (ATB) tug, on October 29, 2015.   The M/V Morton S. Bouchard Jr. is part of a two-vessel contract awarded to the shipyard

K-Line Rolls Out UAE Logistics Firm

 Image: K Line Europe Ltd

 Japan-based Kawasaki Kisen Kaisha (“K” Line) and Sharaf Group have established a new firm, K Line Shipping & Logistics (KLSL).    Based in Dubai, UAE, KLSL will carry out businesses in the fields of marine transportation, logistics, land transportation

Nordic Tankers joins forces with Borealis Maritime

NordicMarianne. Photo: Nordic Tankers A/S

 Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market.  

Seaspan Announces Senior Management Changes

  Seaspan Corporation announced that Sai Chu, Chief Financial Officer, has informed of his resignation and retirement from Seaspan effective November 6, 2015, after more than 10 years' of service with Seaspan and related entities. Gerry Wang, Chief Executive Officer

Waldner Appointed LR's Group CFO

Mary Waldner is Group CFO

  Global engineering, technical and business services organisation, Lloyd’s Register (LR), has announced the appointment of Mary Waldner as Group CFO. Mary is currently Group Finance Director at FTSE 250 listed defence, security, transport and energy company Ultra Electronics and

ICBC Signs Financing Deal with F.Laeisz

F.Laeisz fleet. Photo by F.Laeisz GmbH

 The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH.    Under the agreement, the ICBC will provide 65 million U.S. dollars in export buyer's credit for F

TORM Product Tanker Freight Rates Climbs Up

TORM Gerd.  Photo by TORM A/S

 TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard.   TORM has demonstrated its financial and strategic flexibility with the exit from

First Vessel Launched for BigRoll Shipping

BigRoll Barentsz (Photo: BigRoll Shipping)

 The heavy marine transportation provider BigRoll Shipping announced its first of four MC Class vessels under construction, BigRoll Barentsz, was launched on October 27, 2015 at Cosco Dalian Shipyard. The vessel construction and commissioning remains on schedule for delivery in March 2016.

TIGER Revs Up the Hoosier State

(Photo: U.S. Department of Transportation)

Since 1985, the Port of Indiana-Jeffersonville has played an important role in handling millions of tons of steel, grain, fertilizer, salt and other bulk cargoes for both inbound and outbound markets – domestic and abroad.   Located directly across the Ohio River from Louisville, Ky

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