ABS New Council and Committee Members
Melvyn J. Dennett, Admanthos Shipping Agency, Inc. Jim Bradford, General Manager – Operations, Gulf Offshore N.S. Dr. William J. Dr. David W. Costas M. Fostiropoulos, Chairman, Almi Tankers S.A. Dr. Ian J. Jim Miller, President & CEO, Aker Philadelphia Shipyard, Inc. Mrs. Leif Kristian Nielsen, Executive Vice President, A.P. Dimitrios Patrikios, General Manager, Springfield Shipping Co., S.A. Leonidas S. Polemis, Manager, Remi Maritime Corp. Gerard H. Capt. Yodchai Ratanachiwakorn, Operations Director, Thoresen & Co., (Bangkok) Ltd. I.S. Dalton Marcio Schmitt, Managing Director, Astromaritima Navegacao S.A. William Scott, Manager, Engineering & Technical Services, Tidewater Inc. Peter S. Josh M. Suhartoko, Senior Vice President – Shipping, PT.
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.
