Semco Maritime strengthens Management Team
The international contracting and engineering company Semco Maritime has strengthened its Aberdeen team with three new appointments to support its continued growth. Brian Donaldson takes up the role of business development manager, with Colin Stewart and Gustav Ferrao appointed as assistant accountant and senior systems engineer respectively. Donaldson is a mechanical engineer and a member of the Institute of Measurement & Control. Donaldson's primary focus is to grow Semco's business in the UK, particularly in regards to Aberdeen based clients. “It is exciting to join Semco's team at this important phase in the company’s development,” said Donaldson. As assistant accountant, Stewart will support the Aberdeen-based finance team with the accountancy operations of Semco's UK facilities.
Making Coatings Pay Twice Over: Joint Eco-Initiative
AkzoNobel’s Marine Coatings business, supplier of International advanced hull coatings and The Gold Standard Foundation draw attention to a new and unique marine-based methodology to reward the improved fuel efficiency of ships within the international maritime industry. Certification by The Gold Standard for the first of its kind, peer-reviewed methodology will allow ships to generate carbon credits, thus income, for the CO2 emission reductions they achieve. The methodology is based on ship owners and operators converting existing vessels from a biocidal antifouling system to a premium, biocide-free advanced hull coating such as Intersleek.
Trailer Bridge Finalizes Senior Loan Amendment
Trailer Bridge, Inc. announced the execution of an amendment to its financing agreement with GE Capital and the addition of four new members to the Company’s Board of Directors. The amendment with GE Capital waives past non-compliance with certain covenants and establishes new financial covenants that the Company is confident it will remain in compliance with. Trailer Bridge has a $15 million revolving credit facility, with actual draws determined by a borrowing base formula. At March 31, 2002, the amount outstanding under this facility was $4.7 million. The Company also has approximately $10.3 million outstanding under a term loan facility with GE Capital. The Company also announced that Peter S. Shaerf has joined the board and that Malcom P. McLean, Jr., Greggory B. Mendenhall and F.
