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
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
A group of 75 companies and organizations have collectively voiced opposition to a Public Private Partnership (P3) project that would seek to toll the Illinois Waterway and that could make its way into the Water Resources and Development Act (WRDA) of 2016. The group consisting of a variety of stakeholders across the logistics chain and led by the Waterways Council, Inc. (WCI) yesterday signed and delivered letters urging the House Transportation & Infrastructure and Senate Environment
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
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
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
The top four Korean shipbuilders have 2.3 trillion won ($1.9 billion) in notes maturing next year, the most in Bloomberg-compiled data going back to 1997. Bloomberg reports that some of them may have trouble paying debts without help from the government or group firms
Some positive market indicators could presage an investment revival in the U.S. Gulf of Mexico – and beyond. The good news, reported by Bloomberg, is that in the third quarter of 2016, the largest oil companies increased cash from operations by nearly $26 billion
TFI International Inc., formerly known as TransForce Inc., a North American leader in the transportation and logistics industry, has announced that a wholly-owned subsidiary of TFI International has acquired Brampton, Ontario based National Fast Freight (NFF) from Calyx Transportation Group
Wanax AS, a wholly owned subsidiary of S.D Standard Drilling Plc, will invest USD 5.215mln in platform supply vessels (PSV) Opportunity III DIS. The investment will be done through subscription of ownership interests in PSV Opportunity III and gives Wanax AS
The American Maritime Partnership (AMP) has issued the following statement on the selection of Secretary Elaine L. Chao as the next United States Secretary of Transportation. “The American Maritime Partnership congratulates Secretary Elaine Chao for her nomination by President-elect
Taiwan's shipping lines aren't looking quite so young and fresh as they were earlier, reports Bloomberg. While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, Taiwan's shipping lines have remained proudly single.
Sri Lanka will take part in a joint venture with China Merchants Port Holdings Company Limited to develop a port in its south, where China has also been offered an investment zone. The cabinet approved a plan under which Sri Lanka will lease 80 percent of the Hambantota port to Hong
U.S. Department of Transportation’s Maritime Administrator Paul “Chip” Jaenichen visited the Port of Greater Baton Rouge’s container-on-barge operation Tuesday while delivering his personal congratulations on the recent awarding of a $1
At the 33rd ordinary meeting on Thursday, 1 December, the Board of Directors of the Merchant Marine Fund (CDFMM), at the Ministry of Transport, Ports and Civil Aviation in Brasilia (DF), approved to finance basis 2.15 billion reais for the construction of a new ship repair facility in Brazil
Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction. The private-public partnership is being developed to supplement local
The global shipping industry will hit a credit crunch if proposed new bank capital rules are implemented in a sector already weighed down by toxic debt, bankers involved say. The Basel Committee of banking supervisors from nearly 30 countries met in Chile last month in an effort to complete
Royal HaskoningDHV appoints two new leaders at Corporate level for Finance & Control and Global HR Services: Jasper de Wit has been named Corporate Director Finance & Control per January 1, 2017, and Abhishek Kaushal has been appointed to lead Global HR Services per December 12, 2016
Shipping confidence improved for the third successive quarter in the three months to end-November 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.
Ship Finance International Limited (SFL) said it has taken delivery of MSC Anna, the first of two 19,200 TEU container vessels from Huyndai Heavy Industries, Korea. The vessel is chartered out for a period of 15 years, and lease financing has been secured for the full term of the charter.
Shipping confidence improved for the third successive quarter in the three months to end-November 2016, says a report by Moore Stephens, an accounting and advisory network in UK. In November 2016, the average confidence level expressed by respondents was 5.6 out of 10