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Tom Reilly News

03 Mar 2011

CHEMOIL ANNOUNCES NEW MANAGEMENT TEAM

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI) announced today that as part of its efforts to build upon the company’s strengths and expand its business reach, it has promoted various Chemoil veterans and brought in experienced top talent to help lead the company towards sustainable growth. Tom Reilly, who was appointed Chemoil’s new CEO in January 2011, said “Chemoil is entering the next phase of growth and I am excited to be working with a new talented management team that comprises not only of dedicated employees whose commitment help make Chemoil one of the leading energy suppliers today…

07 Jan 2011

Chemoil Acquires Oceanconnect’s Marine Fuel Group

Tom Reilly

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI), supplier of marine fuel, announced its acquisition of OceanConnect Holding’s (OCH), marine fuel business. The purchase price as agreed by both parties is expected to be approximately $25m and took into account factors such as the marine fuel business’ historical and future earnings potential. The deal includes the acquisition of OCH’s marine fuel business, its independent online bunker auction portal, and a team of experienced bunker brokering and trading employees and staff in the United States…

12 Oct 2001

OceanConnect Announces New Equity Partner

Booz Allen Hamilton concludes that OC is bringing efficiencies to the marine industry. OceanConnect.com, the global marketplace for the purchase and sale of marine fuels, today that management and technology consultancy Booz Allen Hamilton has entered into a letter of intent to become an equity partner in OceanConnect. The announcement follows OceanConnect's news that it has reached the million-ton milestone for bunkers sold. "In our work with oil and gas companies, we have seen how the introduction of new business channels such as OceanConnect can lead to advantaged supply chain management and back office integration. After reviewing their performance record and product development plans…

20 Feb 2001

OceanConnect.com Offers Credit Insurance

OceanConnect.com, the independent online marketplace for the purchase and sale of marine fuels, products and services introduced an innovative feature called OceanConnect.com Credit Solutions. Through the website, up to $1 million of credit protection could be available per ship owner closing business on the OceanConnect.com site. OceanConnect.com Credit Solutions provides the opportunity for suppliers to be covered for losses due to insolvency or default by buyers. Coverage is provided by an underwriter rated "A+XV" by A.M. Best Company. When an auction is created, available coverage is calculated instantly and can be viewed by buyers and invited suppliers on the auction monitor. OceanConnect.com Credit Solutions provides benefits to both suppliers and buyers alike.

27 Jul 2006

Judge Nullifies State Oil Spill Law

A federal judge has nullified Massachusetts’ landmark Oil Spill Prevention Act, striking down regulations on oil shipping in Buzzards Bay that included mandatory tug escorts and navigational routes as well as minimum staffing. U.S. District Judge Joseph L. Tauro ruled the state violated federal law because those areas fall under Coast Guard jurisdiction. He said the state regulations ''are pre-empted, invalid and unconstitutional under the Supremacy Clause of the United States Constitution.'' The Massachusetts Legislature passed the Oil Spill Act in 2004, amid warnings from the oil industry that it was stepping on federal jurisdiction. Lawmakers moved quickly to respond to a 98,000-gallon oil spill in Buzzards Bay on April 27, 2003, when a Bouchard Transportation Co.

14 Jan 2003

Marco Joins OceanConnect

Strategic Advisor effective January 15, 2003. "Mike Marco was a chief architect of one of the most highly successful ship brokerage firms. His shipping expertise is unparalleled. OceanConnect is honored to have Mike join our team. We look forward to working with him as OceanConnect adds more services that bring value to shipowners," OceanConnect President Tom Reilly said. The collaboration will be an expansion of Marco's existing role at OceanConnect as author of the daily "Marcogram", one of the site's most popular features. continue," Reilly said. is a widely respected participant in industry forums. Director, Vice Chairman, and former President. includes stints at Simpson, Spence & Young, Jones & Thompson. Mechanical Engineering from the U.S. Point, New York.

30 Aug 2001

OceanConnect, Boosted by Alliances, Achieves Million-ton Milestone

OceanConnect.com, the global online marketplace for the purchase and sale of marine fuels, announced that the company has reached the million-ton milestone for bunkers sold by offering the only comprehensive online and offline bunker purchasing system. Neptune Orient Lines Ltd (NOL), one of the world's largest container shipping lines, created the transaction that put OceanConnect over the top. Their enquiry generated fourteen bids by four suppliers and closed online with Fuel and Marine Marketing LLC (FAMM). Each company was proud to be part of OceanConnect's historic milestone. "We were excited that our auction accounted for OceanConnect's millionth ton. Their service saves us time and money, and is the best platform for bunker purchasing.