ABN AMRO Finances Celsius BWTS Installs
ABN AMRO Transportation has concluded financing for the installation of ballast water treatment systems on several vessels for its Danish client, Celsius Shipping. As per September 8, 2017, the IMO Ballast Water Treatment (BWT) Convention will enter into force. The convention will stop the spread of invasive aquatic species, which can be a threat to local ecosystems and affect biodiversity. Under the convention, vessels will be required to install a BWT system. This will have implications for both shipping clients and ABN AMRO as the core financier. Ballast water is carried on board a vessel to keep it stable when it is not, or not (fully) loaded. Once cargo has been loaded onto the vessel, the ballast water needs to be discharged.
Terminal Expansion at Galveston Port to be Feted
On Tuesday, December 9, 2014 at 4 p.m., the Port of Galveston along with Moody National Bank, Texas First Bank, Hometown Bank and Webber L.L.C. will celebrate the expansion of Cruise terminal 2. The ceremony will take place at the Port of Galveston in front of cruise terminal 2 located on Harborside Drive. The three Galveston County community banks have worked together on financing for a $13 million expansion of the Port of Galveston’s Cruise Terminal No. 2. Each bank pitched in for the unique funding package for the expansion of Cruise Terminal No. 2 to accommodate larger vessels and more passengers. When completed next spring, Cruise Terminal No. 2 will feature 150,000 square feet of space and have a seating capacity of over 2,000 passengers.
CAG Finance New SF Bay Tugboat
Capital Access Group (CAG) says that its $10.4 Million 504 Loan has enabled the acquisition of a powerful, 85-ton tractor tugboat for San Francisco Bay – Baydelta Maritime's 'Delta Audrey'. Capital Access Group is a commercial real estate lender specializing in U.S. Small Business Administration 504 financing for growing businesses. CAG explain that the Delta Audrey features the most modern design, engines, and equipment to increase safety, reduce fuel consumption and carbon emissions, and provide increased capability to stop or redirect a tanker in shorter distances. “Our customers, the ship owners, continually demand more powerful tugs that can stop or redirect a tanker in a shorter distance…
Ingram Barge Names New CEO
Ingram Barge Company announced today that Orrin H. Ingram is the new Chief Executive Officer of the company, succeeding Craig Philip who is retiring effective June 30, 2014. Ingram has been the Chairman of Ingram Barge Co. since 1998. He also is the President and CEO of the barge company’s parent company, Ingram Industries Inc. “Craig’s valuable guidance has played an integral part in the success of the barge company during his 28 years with Ingram,” Orrin Ingram said. “Craig led the transformation of our marine group…
