Finance Division News

The Greenbrier Companies, Inc., supplier of equipment and services to global freight transportation markets, announced on Tuesday that its Board of Directors appointed President and Chief Operating Officer (COO), Lorie Tekorius, as the company's next CEO and President, effective March 1, 2022. On the same date, Greenbrier's co-founder, Chairman and CEO William A. Furman will assume the newly created role of Executive Chair until his retirement in September 2022. Furman 's current Board term continues until January 2024.Furman said…

Energy trader Mercuria Group has agreed to provide a $1 billion trade finance facility to Greece's Aegean Marine Petroleum Network, the marine fuel logistics and supplies company said on Thursday, sending Aegean's stock up more than 150 percent.New York-listed Aegean Marine underwent a major leadership change this year after losses prompted an activist investor revolt to sever ties with the company founder, shipping and oil tycoon Dimitris Melissanidis.Aegean announced a $200 million write-off in early June after a new chairman, Donald Moore, was appointed in May to lead a strategic review.Shares in Aegean were up 127 percent at $1.43 as of 1359 GMT, having risen as high as $1.53.Swiss-based Mercuria will initially inject at least $30 million in cash, Aegean Marine said.Aegean Marine also

Bjorn Giaever will take up his position as the new chief financial officer (CFO) at Nordic American Tankers Limited (NAT) and Nordic American Offshore Ltd. (NAO) from October 16, 2017.   Giaever joins NAT/NAO from maritime focused investment bank Fearnley Securities AS, where he served as a director and partner in the Corporate Finance division. Giaever has served as a corporate advisor in the John Fredriksen group in London, top rated Senior Shipping Analyst in DNB Markets and partner in Inge Steensland AS, specializing in gas related maritime matters.    Outgoing NAT/NAO CFO, Turid M. Sorensen, will leave her administrative duties before the end of 2017. She will be suggested as board member of NAT.

Nordic American Tankers (NAT) and Nordic American Offshore (NAO) has appointed Bjørn Giaever (50) as Chief Financial Officer (CFO). He is expected to join us later this year and as early as possible. Giaever joins NAT/NAO from the well reputed firm of Fearnley Securities AS with main office in Oslo, Norway. This is an investment bank with special focus on the maritime sectors, where he served as a director and partner in the Corporate Finance division. Giaever has more than 20 years of experience in the shipping industry, holding key roles in corporate finance and equity research. In addition to having worked as investment banker towards the shipping & offshore industry for the past seven years…

Marine News looks back at the past 12 months and showcases the best of North America’s workboat design shop and shipyard output. In a year where some stakeholders might not rank 2016 as the best of years in the shipyard or on the waterfront, we might disagree. And, there is plenty to write about. New contracts, deliveries and designs all combine to show that the collective workboat waterfront is moving forward, with technology, the environment and replacement tonnage requirements as the main drivers.

The two newest inland river towboats in Tidewater Transportation and Terminals’ fleet, Granite Point and Ryan Point, were christened during a late afternoon ceremony Saturday, June 11 at Vancouver Landing in Vancouver, Wash. After Deacon Tim Dooley from Portland’s Holy Family Parish delivered a blessing, Patty Reed, wife of Bruce Reed, Tidewater’s Vice President and Chief Operations Officer, and Diane Laya, wife of Marc Schwartz, Tidewater’s Maintenance and Engineering Manager…

The Board of Harbor Commissioners has approved the appointments of new directors for the Port of Long Beach’s Finance, Surveys and Transportation Planning divisions. Maurina Lee, previously the Harbor Department’s controller, will become the Director of Finance. She has been controller since March of last year and was previously finance manager for the city of Downey from 2006 to 2015. The Finance Division oversees an annual budget that is $829 million this fiscal year. It is part of the Finance and Administration Bureau. Robert Seidel, who has been the Port of Long Beach’s chief surveyor since 2006, will be the new Director of Surveys.

On 1 March 2013, Alexander Kocherscheidt (39) will commence his duties as Managing Director of Atlas Elektronik. As Chief Financial Officer, he will be responsible for the Finance Division as well as for the Human Resources, Legal and Compliance Divisions. With a degree in business law, he currently holds the position of CFO at Regional Centre British Islands of ThyssenKrupp Elevator, which has its headquarters in London. Alexander Kocherscheidt succeeds Dieter Rottsieper, who has joined the Management Board of ThyssenKrupp Marine Systems GmbH (TKMS). www.atlas-elektronik.com

The ordinary general meeting of shareholders of Costa Crociere S.p.A, held March 31, 2004, adopted the financial statement for the period December 1, 2002/November 30, 2003. 2003 was a record year for Costa Crociere: the company topped the half-million mark for the number of passengers carried in a 12-month period (a historic achievement and a first for a European cruise operator) with 557,300 guests, compared to 462,036 the year before (+21%), amounting to 4,300,000 passenger days (up 19% on 2002). Sales rose by 7.2%, at euro 785.6 million. Operating income was also substantial, at euro 105 million, although down on the figure recorded in 2002 on account of the strong pressure on prices that occurred throughout the year.

Rainer Schöndube, Member of the Executive Board at Germanischer Lloyd AG, will resign from office leaving the management on September 300. He will, however, stay affiliated with Germanischer Lloyd as adviser. With his retirement Schöndube, who has been responsible for the commercial field and the Industrial Services at Germanischer Lloyd, gives way for a change in the Executive Board. On September 1, 2007 the Executive Board of Germanischer Lloyd will be extended by Dr Joachim Segatz. Dr Segatz will take over Mr Schöndube's finance division. Dr Segatz studied Mechanical Engineering with emphasis on aircraft construction and fluid mechanics at the Technical University Braunschweig, Germany.

GE Capital Solutions said it has acquired CitiCapital's Marine Finance division, an Irving, Texas unit of Citigroup. CitiCapital Marine finances and leases commercial workboats and passenger vessels in U.S. and Canadian waters and the Gulf of Mexico. The acquisition, which closed last week, will add approximately $250 million in assets to GE Capital Solutions’ marine portfolio. Terms of the agreement were not disclosed. Joseph Pitch, senior vice president, CitiCapital Marine Finance, will join GE as part of the Marine industry team. GE Capital Solutions finances such vessels as tugs and barges, car and passenger ferries, pilot boats, offshore supply vessels/anchor handlers and dredges and derrick cranes.

The partners of SSY announced the formation of SSY Capital LLC to serve global shipowners in the capital markets. The new unit will be led by Tom Kane, a leading American finance expert with particular expertise in international finance. SSY Capital will offer financial products tailored to its clients’ needs. Several products will be available to clients, including project and asset finance facilities, a variety of lease and debt financing structures, as well as non-traditional forms and capital sources. SSY recently celebrated its 125th anniversary. In the last 20 years, SSY has expanded its traditional broking expertise to include maritime consultancy and research, gas, chemicals, containers and freight derivatives.