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
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.
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
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 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
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
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
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 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
Overall confidence levels in the shipping industry fell to their lowest level for two-and-a-half years in February 2015, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.
The Board of Trustees for the Cleveland-Cuyahoga County Port Authority today unanimously elected Chris Ronayne as new board chair. As President and CEO of University Circle, Inc., which oversees the growth and direction of one of Ohio’s fastest growing employment district
Poland's liquefied natural gas (LNG) terminal at the Baltic port of Świnoujście will be completed only if Italian firm Saipem receives further payment, reports Reuters. The terminal, under construction by a consortium including Italy's Saipem
Mitsui O.S.K. Lines, Ltd. today announced that the coal carrier Hakutaka, which will serve Tokyo Electric Power Company, Inc. was delivered at Mizushima Shipyard of Sanoyas Shipbuilding Corporation on March 26, 2015. The vessel jointly developed by Sanoyas Shipyard and MOL
Norwegian authorities have given the Stavanger-based energy giant Statoil the go-ahead on joint projects with Rosneft, a Russian oil titan that was the target of Western sanctions in 2014. Statoil and Rosneft previously agreed on four projects to explore and produce oil on the Russian
Exhaustive studies by The National Waterways Foundation (NWF), a center for research and learning where industry leaders address public policy issues related to America’s inland waterways system, conclude that inland waterways transport generates fewer emissions of particulate matter
Scorpio Tankers Inc. announced today that it has received commitments from two leading European financial institutions for two separate loan facilities of up to $113.2 million in aggregate to partially finance the purchase of four LR2 product tankers that was announced in December 2014.
Aker Philadelphia Shipyard ASA informed that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has executed definitive documentation with PIDC Regional Center, LP XXXI for a secured term loan of up to USD 60 million.
Pierre Danet, current vice president and regional CFO of Hewlett Packard, Printing and Personal Systems in EMEA, will join Maersk Line on April 7 as chief financial officer (CFO) and be part of the management board of Maersk Line, the company announced today.
U.S. Treasury Secretary Jack Lew, together with U.S. Sen. Ben Cardin (D- Md.), visited Ellicott Dredges March 9 at the company’s Baltimore plant for a discussion about U.S. export policies, the U.S. Government financing entity Eximbank and infrastructure investment programs.
Losses in benchmark Brent and U.S. crude oil briefly accelerated in Thursday's late trade as the dollar pared its earlier weakness, weighing on commodities priced in the currency. Brent's front-month was down 70 cents, or 1.2 percent, at $56.84 at 2:10 p.m
Ghana's finance minister said on Thursday that the forecast for oil revenues in 2015 had been slashed to 1.5 billion cedis ($416.7 million), down from 4.2 billion cedis forecast in the budget presented in November due to falling oil prices.
The joint venture between Aker Philadelphia Shipyard ASA (AKPS) and Crowley has received a firm and fully underwritten commitment from a group of banks and other financial institutions for a USD 325 million senior secured term loan facility.
Given that the Asian shipping industry is in a substantially better position than many other market participants, thanks to strong intra-Asia cargo traffic, the European shipping sector hopes that Asian investors will "come to their rescue," says HSH Nordbank’s recent survey
Indonesia is seeking US$7 billion in foreign investment to upgrade its ports as part of a five-year plan to improve its ports network, Finance Asia said. The plan involves modernizing existing ports and building new ones in the country