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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

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

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

Matson Planned Separation on Track

Matson finalizes post-separation financing arrangements, maintains strong balance sheet as a stand-alone company
 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

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

Petrobras Unit to Spend $1.2B on Tankers

The transportation unit of Brazil's state oil company Petrobras said Wednesday that it will pay $1.2b to build 10 oil tankers. Brazil's National Development Bank will finance the shipbuilding project with $1.16m, the press office of Brazilian President Luiz Inacio Lula da Silva said in a statement earlier Wednesday. Silva and Petrobras Chief Executive Sergio Gabrielli signed the deal at the port of Suape in the northeastern state of Pernambuco.

Xerox, MHI Ink ITS Project Deal

Signing ceremony

  Today, at the ITS World Congress and Exhibition, Xerox and Mitsubishi Heavy Industries (MHI), both leaders in transportation solutions, signed a Memorandum of Understanding to explore, globally, on a case-by-case basis, potential joint Intelligent Transport System (ITS) opportunities.

MARAD Backs Emissions Reduction Projects

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it will provide more than $1 million to support the development of two new emission-reducing maritime solutions. The first is a liquefied natural gas (LNG) conversion demonstration project

New Jersey Transportation Chief to Resign

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

Epic Gas Secured Credit Facility for 7 Newbuilds

Pic: Epic Gas Ltd.

 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

Hapag-Lloyd Secures Financing for Five Newbuilds

The new ships are being built by the South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI). (Photo Hapag-Lloyd)

Container shipper Hapag-Lloyd announced it has signed a 12-year $372 million facility agreement with a banking syndicate to finance the construction of five new vessels ordered from a South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) in April 2015.  

Intermarine Promotes Corporate Finance Director

Chad Call (Photo: Intermarine LLC)

Project, breakbulk and heavylift cargo transporter Intermarine, LLC reports it has promoted Chad Call to Director of Corporate Finance. Call will continue to report to Michael Dumas, Executive Vice President and Chief Financial Officer.

EBRD buys into Turkish Port Operator

Photo credit: European Bank for Reconstruction and Development

 The European Bank for Reconstruction and Development (EBRD) has acquired stake in Turkish cruise port operator Global Ports Holding (GPH), one of the world’s largest port operating companies.   In a statement, the bank said the minor stake would be used to finance GPH's

Calif. Forum Examines Transport ‘Beyond Traffic’

Paul “Chip” Jaenichen (Photo: MARAD)

Maritime Administrator Jaenichen, Vice Mayor Lowenthal Host Town-hall style Forum on Beyond Traffic Framework   U.S. Maritime Administrator Paul “Chip” Jaenichen and Long Beach Vice Mayor Suja Lowenthal today hosted the third of 11 nationwide regional forums on the Beyond

Scorpio Tankers to Sell Assets, Upsize Credit Facility

Press release - Scorpio Tankers announced an agreement to sell STI Highlander, newbuilding vessel deliveries, and the upsizing of a previously announced credit facility. The company reached an agreement to sell its 2007-built Handymax product tanker, STI Highlander, for approximately $19

Seanergy Maritime 2Q Revenue Nets $1.8 mln

Dry bulk shipper Seanergy Maritime Holdings Corp.  announced its financial results for the second quarter and six months ended June 30, 2015. For the three months ended June 30, 2015, the company generated net revenues of $1.8 million. Total equity as of June 30, 2015 was $9.4 million.

TSB to Investigate Tug Incident in Fraser River

The TSB is publishing selected data pertaining to accidents and reportable incidents from its Marine Safety Information System (MARSIS) for use by professionals and the public to advance transportation safety.

  The Transportation Safety Board of Canada (TSB) is deploying a team of investigators following the girding and sinking of the tug Sea Imp X in the North Arm of the Fraser River, British Columbia. The occurrence took place yesterday at approximately 20:00 PDT.

Leaders Call on Canadian Marine to Grow Economy

Robert Lewis-Manning (Photo: CSA)

The Federal Election is an important opportunity to boldly support the marine industry as a means to sustainable Canadian growth. During this election and post-election period, political leaders are urged to build upon Canadian domestic shipping for the Canadian economy and sustainable economic

APM Terminals Liberia Sees Economic Recovery

George Adjei at New York Investment Conference

  Addressing the US - Liberia Trade & Investment Forum in New York City, APM Terminals Liberia Managing Director George Adjei points to a 30% increase in import container traffic at Liberia’s largest port as a reason for great confidence in Liberian investment.  

Seaspan Appoints Three to its Executive Team

Vancouver Shipyards (Photo: Seaspan)

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.  

Caterpillar Launches Asset Financial Solutions

Press Release - Caterpillar Oil & Gas has announced the introduction of Asset Financial Solutions, a financial product that provides 100 percent financing new offshore or marine assets. The new solution enables Caterpillar to offer customers a tailored solution to optimize their business and

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