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Corporate Finance News

02 Feb 2024

Seacor Sells Its Caribbean Liner Business

(File photo: SEACOR Island Lines)

SEACOR Holdings Inc. announced it has concluded the sale of its Caribbean liner and logistics business SEACOR Container Lines LLC (“SEACOR Island Lines”) to King Ocean Services Ltd. The transaction includes all operations and assets.King Ocean specializes in marine transportation and logistics solutions to close to 50 destinations across the Caribbean and South and Central America out of their Port Everglades facilities in Ft Lauderdale, Fla.“For 40 years, King Ocean, a multi-generational…

10 Oct 2023

Inspirit Completes CWind Acquisition

(Image: Inspirit Capital)

U.K. investment firm Inspirit Capital announced it has completed the carve-out of CWind, a provider of offshore wind support services, from Global Marine Group.CWind completes approximately 60,000 crew transfers annually, utilizing its fleet of crew transfer vessels (CTV), including the world’s first hybrid surface effect ship, CWind Pioneer. The company has operated in support of more than 50 U.K. and European offshore wind farms since 2010.London-based Inspirit Capital specializes…

25 May 2023

Port of Rotterdam Names Siemons Interim CEO

Boudewijn Siemons (Photo: Port of Roterdam Authority)

Boudewijn Siemons will become interim CEO of the Port of Rotterdam Authority effective July 15, 2023, taking the reins from Allard Castelein, who is stepping down as CEO this summer after nearly a decade in the position.Siemons, who currently serves as the port's COO, will combine both positions until a new CEO has been appointed.In addition, Vivienne de Leeuw will stay on as CFO. Her term of office has been extended by four years.Miriam Maes, chair of the Supervisory Board, said, "The process of finding a new CEO is still in progress.

30 Jan 2023

HII Names Chewning EVP Strategy & Development

Eric Chewning (Photo: HII)

Eric Chewning, former chief of staff to the U.S. Secretary of Defense and deputy assistant secretary for industrial policy, is joining HII as executive vice president, Strategy & Development, reporting directly to HII President and CEO Chris Kastner. Chewning assumes the role on Jan. 30.Chewning joins HII as it grows its customer set across the armed forces and executes on its significant shipbuilding backlog for its primary customer, the U.S. Navy. HII is the nation’s only builder of aircraft carriers and its largest military shipbuilder…

28 Sep 2022

Savage Appoints Roberts as COO, Coler as CFO

(Photos: Savage)

Savage, a global provider of industry infrastructure and supply chain services, announced the appointments of Jeff Roberts as Executive Vice President and Chief Operating Officer (COO) and Tom Coler as Executive Vice President and Chief Financial Officer (CFO). Both appointments will be effective Oct. 1, 2022.“We’re excited to have Jeff Roberts step into a new role as COO, where his leadership abilities, enthusiasm, and commitment to our culture and strategy will help drive ongoing growth and operational excellence across the company…

05 Aug 2022

Braemar Names Beckwith HR Director

John Beckwith (Photo: Braemar)

Braemar, expert advisors in shipping investment, chartering, and risk management, today announced the appointment of John Beckwith as Group Director of Human Resources.The hire of Beckwith strengthens Braemar’s leadership team, enhances and enables Braemar’s ability to grow organically and via Mergers and Acquisitions (M&A), and it represents a further investment in the professional development of its shipbroking and corporate finance teams.Beckwith has been the HR/people subject-matter expert on multiple mergers, demergers, and acquisitions throughout his career, including an IPO process.

05 Jul 2022

Avenir LNG Names Baltar CFO

Abigail Baltar (Photo: Avenir LNG)

liquefied natural gas (LNG) supplier Avenir LNG announced it has appointed Abigail Baltar as its new chief financial officer.Baltar first joined Avenir assuming the role of head of finance in 2020. She brings with her over 20 years of financial, investment and corporate finance experience, the last 11 of which have been within the shipping and oil and gas industry.Avenir LNG chief executive officer, Peter Mackey, said, "I am delighted to appoint Abigail as our CFO. She has built a strong track record since she joined Avenir and has been critical to our recent success and growth.

25 Apr 2022

K&L Gates Adds Maritime Lawyer in Houston

© travelview / Adobe Stock

Global law firm K&L Gates LLP has added Felisa Sanchez as of counsel in the maritime and finance practices. She joins the firm’s Houston office from Foley & Lardner LLP.Sanchez focuses her practice on a wide variety of corporate, finance, and commercial matters for domestic and international clients in the financial services, maritime, transportation, and energy sectors. She has nearly 20 years of experience representing public and private companies in complex transactions, including maritime financings and restructurings…

08 Apr 2022

HAL Making 'Good Progress' With Boskalis Takeover Offer

Boskalis heavy transportation vessel carrying an FPSO - Image Credit; Boskalis

HAL Holding, which on March 10 announced plans to launch a takeover offer for the Dutch marine services and dredging giant Boskalis' all remaining shares, said Thursday it was making good progress with the offer preparation.The company had said in March it planned to launch an all-cash voluntary public offer of €32.50 per share for all issued and outstandingordinary shares of Boskalis. HAL had 46.2% shares at the time of the announcement."HAL confirms that it is making good progress on the preparation of the Offer.

20 Oct 2021

Fairbanks Morse Defense Names Starr CFO

Robert Starr (Photo: Fairbanks Morse Defense)

Power and propulsion solutions company Fairbanks Morse Defense (FMD) announced that Robert Starr is joining the executive team as chief financial officer. In this role, he will lead the corporate finance team and oversee all financial reporting for the company.“Rob’s background working with commercial and military customers makes him a great fit for the Fairbanks Morse Defense team,” said George Whittier, CEO of FMD, an Arcline Investment Management portfolio company. “His ability…

15 Jun 2021

Odyssey Marine Exploration Appoints Jones as CFO

U.S.-based subsea mining company Odyssey Marine Exploration, Inc. announced it has expanded its executive and legal teams. On Monday, the firm's Board of Directors appointed Christopher "Chris" E. Jones as Chief Financial Officer and reappointed Jay Nudi as the company’s Principal Accounting Officer and Treasurer.“As we evaluated our strategic plans and every part of our business over the past year, it became clear that we needed to add specific expertise to our executive team to allow Odyssey to execute on its strategic plan,” commented Mark D. Gordon, Chairman and CEO of Odyssey. “Chris brings extensive experience in international business development…

01 Jun 2021

Stoltenberg Joins VIKAND as Non-executive Director

Klaus Stoltenberg (Photo: VIKAND Solutions)

Maritime medical operations and public health provider VIKAND Solutions announced it has appointed Klaus Stoltenberg as non-executive director for commercial shipping.Stoltenberg brings a wealth of experience to VIKAND. He is currently the co-owner of Constellation ApS, and was formerly the Chairman of Global Shipping, Deutsche Bank where he managed a team of corporate finance and shipping experts. He has also served as Global Head of Ship and Aircraft Finance for NORD/LB; Head of Transport…

12 May 2021

Invenergy, BW LNG Secure Financing for FSRU Project in El Salvador

Illustration only - An LNG Tanker - Credit: Altin Osmanaj/AdobeStock

Sustainable energy developer Invenergy and LNG solutions provider BW LNG have secured a $128.3 million loan from IDB Invest to fund the construction of a floating storage and regasification unit (FSRU), a key part of the Energía del Pacífico (EDP) LNG-to-power project in El Salvador.The financial package has a 15-year contractual term granted to FSRU Ltda. de CV in El Salvador. Invernergy said the loan provided valuable resources for the purchase and conversion of the BW Tatiana LNG carrier to an FSRU.

17 Sep 2020

Wilson Sons Names New CEO of Operations in Brazil

A Wilson Sons offshore vessel -Credit: Damen (File Photo)

Brazilian maritime logistics and port operator Wilson Sons has accepted the resignation of Cezar Baião from the position of CEO of Operations in Brazil, effective from March 5, 2021. The company has this week said that its board has accepted the nomination and decided to appoint Fernando Fleury Salek as CEO of Operations in Brazil.Salek has acted as CFO of the company's Brazilian subsidiaries and Head of Investors Relations for the past five years. He is an economist having graduated from PUC-Rio with a specialization in Corporate Finance, International Finance, and Marketing.

18 Mar 2020

Seaspan Marine Transportation Names Wortman CFO

© edb3_16 / Adobe Stock

Seaspan Marine Transportation said it has appointed Linda Wortman as Chief Financial Officer.Wortman brings to this position more than 25 years of accounting and finance experience. She joined Seaspan in 2008 as Controller, Marine and was promoted to Vice President, Corporate Finance, Accounting in 2016. Her responsibilities were expanded to include Seaspan’s Corporate Supply Chain Management and Risk and Insurance functions in 2017.

10 Mar 2020

Golar LNG Appoints New CFO

© Eugene Sergeev / Adobe Stock

Golar LNG said on Tuesday it has appointed Callum Mitchell-Thomson as its new Chief Financial Officer, effective April 20.In October 2019, Golar LNG announced its current CFO, Graham Robjohns, would step down. Robjohns will remain in his current position until April 20, 2020 and will leave Golar on April 30, 2020.Robjohns' successor, Mitchell-Thomson, has 21 years of experience advising energy, utility and infrastructure companies on M&A and capital markets transactions while working for JP Morgan.

23 Jul 2019

García Joins the SENER

Luis GarcĂ­a (Photo: SENER)

SENER has hired Luis García Jiménez as its Director of Corporate Development. This post is essential to the growth and development of the SENER Group, and reports directly to the CEO, Jorge Unda.From his new position, Luis García will be in charge of analyzing, organizing and coordinating medium- and long-term opportunities involving mergers, acquisitions and investments. He will also participate, together with the CEO and the directors of SENER's different divisions, in defining…

22 May 2019

Optimarin Gears Up for BWMS Retrofit Wave

Tore Andersen (Photo: Optimarin)

Optimarin is growing its staff to effectively handle the growing wave of ballast water management system refit activity.The company, which expects to double its turnover this year, has employed Leiv Kallestad as its new CEO, allowing Tore Andersen, the incumbent, to spend his time enhancing market focus and customer service. In order to handle the expected surge in retrofit installations, expected to peak in 2022-23, Optimarin will now make plans for additional expansion, with growth in the technical and sales departments.Optimarin has now sold 750 of its simple…

15 May 2019

Klaveness Combination Carriers to List in Oslo

Norway's Klaveness Combination Carriers (KCC) has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing on May 22.Following the successful private placement, KCC has declared two options for the construction of the seventh and eight CLEANBU combination carrier with Jiangsu New Yangzi Shipbuilding Co., Ltd in China.The two newbuilds are scheduled for delivery in January and February 2021. Following the declaration, the KCC fleet will grow to 17 vessels within 1st quarter of 2021. The company holds options for further vessels.“We…

30 Jan 2019

Pacific Green Appoints Iain Lees as CEO

Pacific Green Technologies has announced the  appointment of Iain Lees as Chief Operating Officer to support company growth initiatives around proprietary emission control systems for marine vessels.The owner of the ENVI-Marine and ENVI-Clean Exhaust Gas Scrubbing Systems said in a press note that Lees joins the Company from HannawayCA Corporate Finance Limited (HCACF), a leading financial and business advisory firm in Northern Ireland where he has served as Managing Director since January 2017.Pacific Green CEO Neil Carmichael said: “We are proud to welcome a senior executive of Iain’s caliber to the Pacific Green management team. Iain has deep expertise leading key aspects of a variety of organizations including extensive work with energy projects.

18 Dec 2018

Ardmore Shipping Appoints Curtis McWilliams as Chairman

The US-based chemical tanker company  Ardmore Shipping Corporation announced that Reginald L. Jones is stepping down as Chairman of the Board of Directors of the Company effective December 31, 2018. Curtis McWilliams has been appointed as Chairman of the Board effective January 1, 2019, said a stock exchange announcement from the company.Jones will remain as a director until the Company's annual general meeting in 2019, when he does not intend to stand for re-election. He is a co-founder and Managing Partner of Greenbriar Equity Group LLC, Ardmore's initial investor in 2010 which exited its position in Ardmore as part of the monetization of its Fund II in November 2017. McWilliams became a director of Ardmore in January 2016.

17 Dec 2018

NYK Introduces Its Green Bond Initiatives

Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK), the first company in the global shipping industry to issue labelled green bonds, presented its initiatives at a seminar conducted by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. in Tokyo.A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.The importance of environmental, social, and governance (ESG) initiatives is getting a lot of attention in capital markets, and this seminar provided information on current ESG affairs to issuers interested in ESG bonds.Yuichi Shirane, deputy manager of the Corporate Finance Team in NYK’s Finance Group…

12 Dec 2018

Norway to Drillers: Fix Oil Rig Lifeboat Safety

© Marius Dobilas / Adobe Stock

Norway's Petroleum Safety Authority (PSA) has told Transocean, Maersk Drilling and Odfjell Drilling to beef up emergency evacuation equipment and procedures on 22 offshore oil rigs, it said on Wednesday.Drilling rigs are equipped with enclosed lifeboats that can be dropped into the ocean in an emergency and owners must meet a series of technical and operational requirements for how to plan and carry out evacuations."All the audits identified a non-conformity from the regulations.