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 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 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
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 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'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
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
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.
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
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
Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore
The U.S. Department of Transportation’s Maritime Administrator Paul ‘Chip’ Jaenichen today visited the future site of a marine cargo dock at the Port of Brownsville made possible, in part, through a $12 million Transportation Investment Generating Economic Recovery (TIGER)
Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors, LLC, the principal bondholder under the group's senior bond loan agreement, has confirmed its continued support for the Cecon
On December 9, 2014, Nordic American Tankers Ltd. announced that preliminary contracts had been entered into with a South Korean shipyard, for the construction of two suezmax tankers to be delivered in the third quarter 2016 and first quarter 2017. The final documents were signed December 19, 2014
OAO Sovcomflot (SCF Group) signed a new USD 319 million 10 year credit facility with a consortium of leading European banks with ING acting as Agent. The funds will be used towards financing two new ice-class LNG carriers SCF Melampus and SCF Mitre
BP is to axe middle managers and could freeze projects as it grapples with the plummeting oil price, The Sunday Times reported, citing finance director Brian Gilvary. "What you'll see with this simplification plan is that headcounts are starting to come down across all of our activities in
Kenya's delayed Lake Turkana Wind Power project is expected to start generating power by 2017 after the African Development Bank backed financing to build a transmission line to connect it to the national grid, the project's director said.
Two new Suezmax newbuilding tankers increase NAT's fleet size to 24 vessels. Nordic American Tankers Limited (NAT) has announced that it has entered into a preliminary agreement with Sungdong Shipbuilding & Marine Engineering Co., Ltd
A/S Dan-Bunkering Ltd. has announced that Morten Rosenberg Nielsen has been employed as Group Credit Analyst effective from 1st December 2014. Morten who holds a Master Degree in finance comes from a similar position, where he was responsible for credit activities predominantly within
Chevron Corporation informed that Alexander B. Cummings Jr. has been elected to Chevron's board of directors, and he will serve on the company's Audit Committee. John Watson, chairman of the board and chief executive officer of Chevron said, "Mr
Caterpillar Inc. today announced the following officer changes effective January 1, 2015: * Julie Lagacy will become the company’s Chief Information Officer and vice president with responsibility for the Global Information Services Division;
The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83
Waterways Council, Inc. (WCI) and its members and stakeholders tonight applauded the Senate’s passage, by a vote of 76 to16, of a 9-cent increase to the barge diesel fuel user fee. The provision was a part of tax extenders legislation that was combined with the “Achieving a
Waterways Council, Inc. (WCI) and its members and stakeholders applauded the Senate’s passage, by a vote of 76 to16, of a 9-cent increase to the barge diesel fuel user fee. The provision was a part of tax extenders legislation that was combined with the “Achieving a Better Life
Boxco Logistics has set the bar high yet again, by moving the LONGEST COLUMN EVER that was transported in and out of Mumbai Port. It all started in the industrial township of Dahej in the state of Gujarat at ISGEC Heavy Engineering’s manufacturing plant