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KEY EQUIPMENT FINANCE

Crowley Announces Promotions

Ismael Estrada has been promoted to director of Port Operations for Crowley Liner Service's Isla Grande terminal in San Juan, Puerto Rico. In his new role, he is responsible for all operational activities of the terminal including equipment control, freight services, security and maintenance. Estrada joined Crowley in 1990 as Supervisor of Vessel Cargo Operations and was subsequently promoted to Manager of Terminal Operations. Estrada will report to Roberto Lugo, Jr., Vice President and General Manager. Jose F. Nazario has been promoted to Director of Finance and Administration for Crowley Liner Service's Puerto Rico operations. In his new role, he is responsible for the direction and administration of the budget process, forecasting, tax interpretation, financial planning, accounting services and other reporting activities. Nazario joined Crowley in 1985 and has held a number of key managerial positions including his latest as Director of Port Operations. Nazario will continue to report to Roberto Lugo, Jr., Vice President and General Manager.


Petrobas Signs for US$1.5-Billion Japanese Bank LOC

The lines of credit are for Petrobras to purchase equipment & services from Japanese companies in Brazil & abroad, based on an earlier MOU that established a strategic partnership between JBIC and Petrobras.
 Petrobras has signed two financing programs with the Japan Bank for International Cooperation - JBIC for the offer of two lines of credit amounting to US$ 1.5 billion. Mizuho Bank, Ltd. is the agent bank for these programs and the lines of credit will be 60% financed by JBIC and


Offshore Wind Investment Survey – Summit Planned

A  'Wind Energy Update' survey identified key factors determining investor's choice of contracts; an offshore wind risk summit is planned “Experience of the team” was recently named as the principal trait to accumulate capital for current offshore wind projects as found in Wind Energy Update’s survey on offshore wind investment and finance. Further to this, survey participants also saw that: ”the use of proven technologies’’ and the


Energy, Finance & the GoM

© Scott Bufkin / Adobe Stock

Some positive market indicators could presage an investment revival in the U.S. Gulf of Mexico – and beyond.   The good news, reported by Bloomberg, is that in the third quarter of 2016, the largest oil companies increased cash from operations by nearly $26 billion. This reflects a 67 percent increase from the previous quarter and more than twice the amount of the first quarter of 2016. Exxon Mobil, Royal Dutch Shell, Chevron


Offshore Wind Spend to Average $21B per year

Douglas-Westwood (DW) forecast offshore wind installations averaging 3.2 GW per year over the next ten years with capital expenditure hitting a peak of $24.1B in 2016. The fifth edition of DW’s World Offshore Wind Market Forecast launched today presents a new longer-term forecast and examines the key commercial developments since the last publication to provide detailed insight to established players and new entrant alike.


Ince & Co Advises Fugro on Vessels Sale

International law firm Ince & Co has announced that it has advised Fugro on a sale and lease back agreement with ICON Investments regarding two of its geotechnical drill ships Fugro Scout and Fugro Voyager. ICON financed the acquisition of the vessels by loan facilities from a syndicate of lending banks led by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. Dutch stock exchange listed offshore operator Fugro is the world’s largest integrator of geotechnical, survey


VIKING, Daemyung Marine Invest in Korea

Courtesy VIKING

Marine safety equipment manufacturer and servicing provider VIKING Life-Saving Equipment A/S is to establish a local presence in Korea through a joint venture agreement with leading Korean marine safety equipment and servicing company Daemyung Marine Co. Ltd. The new joint venture, VIKING Life-Saving Equipment Korea LLC, has VIKING as the majority shareholder.   The venture aims to bring faster access for Korean-based and foreign-flag ship managers in the cargo


Cat Financial Announces Second-Quarter 2014 Results

CAT Brand

  Cat Financial reported second-quarter 2014 revenues of $728 million, an increase of $34 million, or 5 percent, compared with the second quarter of 2013. Second-quarter 2014 profit after tax was $146 million, a $35 million, or 32 percent, increase from the second quarter of 2013. The increase in revenues was primarily due to a $36 million favorable impact from higher average earning assets. Profit before income taxes was $206 million for the second quarter of 2014


Multi-National Consortium to Construct Russian Far East Shipyard

Russia's Rosneft, Gazprombank, Sovcomflot with Korean shipbuilding company Daewoo Shipbuilding & Marine Engineering Co. (DSME) have signed a Memorandum of Understanding (MOU) on key terms of co-operation to establish a shipbuilding and industrial cluster in the southern part of Primorskiy Krai (Russian Far East). The parties agreed to jointly complete the construction and launch a new shipyard – shipbuilding complex Zvezda – in 2016


Awilco Exercises Option for Jackup Drilling Rig No. 8

Awilco Offshore (AWO) has exercised an option with PPL to build a 375-ft. jackup drilling rig with drilling depth of 30.000 ft. The rig will be named WilConfidence. The rig is to be delivered in the second quarter of 2009, and has a delivered cost of $149m. The delivered cost includes contract price with the yard, site supervision, pipe handling equipment, spare parts and finance costs during construction.


IMO in China to Share Policies

Image: International Maritime Organization (IMO)

 Addressing over 300 industry experts at the Green Shiptech China Congress 2017 (20-21 April), International Maritime Organization (IMO)'s Heike Deggim briefed the audience on the latest IMO regulations.    She drew attention to the global 0


Volvo Penta Names Bjuve VP, Customer Support/Training

Martin Bjuve (Photo: Volvo Penta)

 Volvo Penta of the Americas has appointed Martin Bjuve as vice president for customer support and training. In this position, he will provide strategic direction and management for support and product training for dealers and customers across the U.S


Quality of Ocean Carriers “Poor to Average”

Image: Drewry Shipping Consultants Limited

 The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey of exporters, importers and freight forwarders conducted jointly by Drewry and the European Shippers’ Council (ESC).  


ABS Broadens Type Approval Coverage for SubM

Joshua LaVire (Photo: ABS)

ABS, a leading provider of classification and technical services to the marine and offshore industries, has expanded its Type Approval product certification process to allow original equipment manufacturers (OEMs) to meet compliance with 46 CFR Subchapter M Regulations.  


ABB, Presserv Partner to Preserve Idle O&G Vessels

Photo courtesy of ABB

ABB’s marine and ports business will partner with Presserv to offer maintenance packages for vessels that serve the oil and gas industry that are laid-up for prolonged periods.   The two companies will combine specialized services to enable the preservation of equipment onboard


New ABS Guide Advances Industry FSRU Development

Depiction of the world’s first Floating LNG Liquefaction, Regasification and Storage Unit (FLRSU). FIle Photo: Marinelink

 ABS, a leading provider of classification and technical services to the marine and offshore industries, has published the ABS Guide for Building and Classing LNG Regasification Vessels, outlining guidance for classing LNG regasification vessels.  


Future of Shipping on the Agenda in Malta

Photo: International Maritime Organization (IMO)

International Maritime Organization (IMO) Secretary-General Kitack Lim joined Ministers responsible for shipping from various EU States and other countries to discuss the future of shipping, at a conference in Valletta, Malta.   Speaking at the High Level Ministerial Stakeholder Conference


ABS Published FSRU Development Guidance

ABS has published the ABS Guide for Building and Classing LNG Regasification Vessels, outlining guidance for classing LNG regasification vessels.   “ABS has developed this industry-leading guidance based on extensive experience with the classification of LNG carriers


Damen Unveils Emergency Response Vessel

Image: Damen

 Damen has introduced a new first line assistance vessel, the Responder 5413, engineered specifically for assistance in disaster relief and emergency response operations.   Developed partly in response to the increasing number of extreme weather events across the globe


Project to Address Marine Bio-invasions Concludes

Photo: International Maritime Organization

 A decade-long project to promote implementation of an international treaty stemming the transfer of potentially invasive species in ships’ ballast water has reached a successful conclusion at a meeting of stakeholders from Governments, industry and UN bodies. 


Hapag Lloyd-UASC Merger Hits Snags

Photo: Hapag-Lloyd

A merger of Hapag-Lloyd and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say.


ABB to Power and Remotely Monitor LNG FSRU Vessel

Photo courtesy of ABB

ABB will supply the power and electric propulsion system to a new Floating Storage and Regasification Unit (FSRU) for BW Group, which will also be remotely connected to ABB’s Collaborative Operations Centers.    The equipment onboard will provide data to the shore-side Centers


BW LPG Refinances Six Ex-Aurora Ships

Photo: BW LPG

 BW LPG Limited has signed a Debt Facility Agreement of USD290 million for the re-financing of six 2016 built ex-Aurora ships.    The re-financing has been raised from The Export-Import Bank of Korea (KEXIM) as ECA (Export Credit Agency) lender, with ABN AMRO Bank N.V


Heading Towards the 2020 Sulphur Limit

Photo: International Maritime Organization (IMO)

 The need for all stakeholders to work towards effective and consistent implementation of the 2020 0.50% global sulphur limit has been highlighted during maritime industry events in Denmark this week.    International Maritime Organization (IMO)’s Edmund Hughes spoke about


Crowley’s New STS Cranes Arrive in San Juan

Photo: Crowley

Three new ship-to-shore cranes that were constructed in Ireland were delivered to Crowley Puerto Rico Services’ Isla Grande Terminal in San Juan on Wednesday. The cranes are a key element of the $130 million Crowley is investing in infrastructure improvements to its Isla Grande Terminal






 
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