Financial Management News

25 Apr 2019

Wallem to Implement BASSnet

Logo: Wallem

As a core backbone for their vision to be the leading provider of technology-driven maritime solutions and transform customers experience the Wallem Group has chosen BASSnet Fleet Management Systems. Wallem has selected the complete suite of integrated software to manage their entire fleet.The signing of Wallem marks a key milestone for BASS, signaling a wider move to complete enterprise solutions in the maritime industry as a means to effectively standardize ship processes. Wallem has chosen to use BASSnet as a total solution for maintenance…

06 Sep 2018

Morten Mosegaard Christensen New CFO for Maersk Tankers

Morten Mosegaard Christensen. Photo: Maersk Tankers

Maersk Tankers has appointed Morten Mosegaard Christensen as its new Chief Financial Officer (CFO).Christensen joins Maersk Tankers from Danske Bank where he serves as interim CFO and Chief of Staff. Previously, he has held leadership positions at Danske Bank, including Head of Group Finance and Head of Group Financial Management.He has long experience in finance in areas such as performance management, tax, cost control, accounting, business intelligence and capital management. He has also worked in strategy and business development at a senior management level.

22 Aug 2018

Marco Wirén Appointed President at Wärtsilä

Marco Wirén(Left) and Arjen Berends. Photos: Wärtsilä Corporation

Marco Wirén, M.Sc. (Econ.), has been appointed President of Energy Solutions, Executive Vice President and member of the Board of Management of Wärtsilä Corporation, effective October 1, 2018.In this position, he is responsible for Wärtsilä's Energy Solutions business globally, and will report to President & CEO Jaakko Eskola.Wirén is currently the Chief Financial Officer of Wärtsilä, holding this position since August 2013. Prior to joining Wärtsilä, he had broad-ranging experience of financial management and international business management from the steel manufacturer SSAB…

06 Apr 2018

Huisman Taps Bruijninckx as CEO

Theo Bruijninckx (Photo: Huisman)

Huisman announced Theo Bruijninckx has been appointed as the company’s new chief executive officer to replace Joop Roodenburg, who decided to step down to the president role. Bruijninckx joined Huisman as chief financial officer and member of the board in May 2017. In his new role as CEO, he is responsible for the daily operation of the company, while Roodenburg will focus on the development of technical solutions and customer relationships. “Since 1981 Huisman is a family owned business. I have taken over from my father and my wish is to handover the company to the next generation.

23 Feb 2018

CEO Haugan Leaves Kvaerner to Lead Aker Energy

Jan Arve Haugan (Photo courtesy Kvaerner)

Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO. Haugan has been President & Chief Executive Officer with Kvaerner since its demerger from Aker Solutions and stock listing in the summer of 2011. "Under Jan Arve Haugan's management, Kvaerner has developed into a leading, renowned oil service company with EPC services as our specialty.

02 Oct 2017

MasterCraft Acquires NauticStar

Photo: MasterCraft

MasterCraft announced that it has acquired NauticStar, a leading manufacturer and distributor of 18-28 foot, high-quality bay boats, deck boats and offshore center console boats for approximately $79.8 million. Founded in 2002, NauticStar, located in Amory, Mississippi, is privately owned and operated. With more than 15 years of boat manufacturing experience—including a 200,000 square-foot manufacturing facility—NauticStar has a reputation for reliability, quality and consistency…

25 Sep 2017

Logimatic, Eiger Marine Join for Fleet Management Solution

Photo provided by  Logimatic

Logimatic has formed an alliance with Eiger Marine to market the most comprehensive and operational Fleet Management System to the shipping industry, in Greece and Cyprus. The partnership will offer customers in the maritime sector a complete software solution for Fleet Management: SERTICA. SERTICA provides integrated Maintenance, Procurement, and HSQE for easy and flexible vessel management. Eiger Marine is a process improvement solutions provider. Extending their offerings with…

09 Mar 2017

Glickman to Take over as ZIM CEO

File photo: ZIM

Eli Glickman has been nominated by ZIM Integrated Shipping Services’ board of directors as the container carrier’s new president and CEO. Glickman will assume the role July 1, replacing current CEO Rafi Danieli, who last year advised that he would be stepping down. Danieli led ZIM as CEO for the past eight years, and before this held various positions at ZIM, including CFO and deputy CEO. “It has been a privilege to lead ZIM during the most difficult times the industry has ever faced,” Danieli said.

02 Feb 2017

Gruenhagen Named CFO at MV WERFTEN

Richard Gruenhagen (Photo: MV WERFTEN)

Shipbuilding group MV WERFTEN said it has appointed Richard Gruenhagen as Managing Director of Finance and Administration to reinforce the group's Management Board as new CFO effective February 1.   Gruenhagen graduated from Indiana University, is a Certified Public Accountant (USA), has many years of experience as Executive Financial Management Professional, broad business experience as CFO, Director of Finance, Chief Accountant and as Head FP&A & Controlling in large global companies and startups, incl. ABB and GE. Most recently, Gruenhagen worked as CFO at DHL Logistics in Switzerland.

24 Jan 2017

New Navy Leaders as Trump Takes Office

The Honorable Sean J. Stackley assumed the responsibilities of acting secretary of the Navy Jan. 20, 2017. (U.S. Navy Photo)

The Honorable Sean J. Stackley assumed the responsibilities of acting secretary of the Navy Jan. 20 at noon. Stackley, who served as the assistant secretary of the Navy (Research, Development and Acquisition) for more than eight years, will carry out the day-to-day responsibilities of the secretary of the Navy until the incoming Trump administration nominates, and Congress confirms, a replacement for Secretary of the Navy Ray Mabus. The Honorable Thomas W. Hicks, deputy undersecretary of the Navy (Management)…

07 Jan 2017

Ciklin elected Chairman of Palm Beach Port

Blair J. Ciklin Photo Port of Palm Beach

On Tuesday, January 3, 2017, the Port of Palm Beach Board of Commissioners elected its new Chairman, Blair J. Ciklin, the longest serving Port Commissioner in the United States having completed his 38th year as a Port of Palm Beach District Commissioner in 2016. Since joining the Port of Palm Beach Board of Commissioners in 1977, as its youngest member, Ciklin has helped to guide the Port through many years of landmark growth and change. With a strong focus on fiscal responsibility, Ciklin’s proven record of success has always targeted new expanded revenue while curtailing Port expenditures.

16 Sep 2016

Los Angeles Port Issues $35.2 mln in 'Green' Bonds

The Port of Los Angeles

The Port of Angeles has expanded its commitment to sustainability by issuing $35.2 million in green bonds as part of a larger debt refinancing successfully completed this week. The move marks the first time a U.S. port has entered the growing sustainability bond market where investors support projects and companies making positive social and environmental change. “Running a competitive and environmentally responsible port permeates every facet of our operations,’’ said Marla Bleavins, the Port’s Deputy Executive Director and Chief Financial Officer.

09 May 2016

AWO Holds Spring Convention

Tom Allegretti (Photo: AWO)

AWO members converge on Washington D.C. The American Waterways Operators’ (AWO) 2016 Spring Convention attracted more than 200 members to Washington, D.C. April 19-21, including 36 first-time attendees. The annual event included a day of organization-wide and sector-specific meetings to discuss priority industry issues, the 14th Annual Barge-In, the Annual Membership meeting, at which AWO’s new member leadership was elected and new members of the Board of Directors were enrolled, and the Board of Directors meeting.

01 Feb 2016

Rough Waters for Washington State Ferries

The process of installing the superstructure built by Nichols Brothers Boat Builders onto the hull of the M/V Tokitae at Vigor’s yard, March 2013.

Improved funding and management changes have the nation’s largest ferry system on a course to better times. Challenges remain, but WSF tackles each one in turn. Unlike the citizens of British Columbia, which pays a German shipyard to build its ferries, Washington state residents resolutely invest at home. By law, ferries are built locally and the results, overall, seem win-win. The state’s Office of Financial Management estimates that every $75 million in ferry construction generates about $90 million for the state’s economy.

09 Dec 2015

Hempel Appoints Boyer-Søgaard as CFO

Hempel appoints Anders Boyer-Søgaard as CFO and member of the Executive Board

Hempel A/S announces that Anders Boyer-Søgaard, CFO and member of Executive Management of GN Store Nord A/S, will succeed CFO Kim Junge Andersen who will join Rockwool as CFO as per January 1, 2016. In 2007, Anders Boyer-Søgaard joined GN Store Nord where he is the CFO and member of the Executive Board. GN Store Nord is listed on Nasdaq OMX Copenhagen and is part of the OMX C20 index. GN Store Nord had 5,000 employees and revenue of more than DKK 7bn in 2014 in the two businesses GN ReSound and GN Netcom. Anders started his career with A.P.

05 Oct 2015

Navy Kicks Off Tours with Industry Program

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The Navy kicked off a new program Oct. 5, designed to give high performing officers and Sailors experience at large corporations for approximately one year. Three participants began work today with Amazon in Seattle, Washington, and two with FedEx, in Memphis, Tennessee, as part of program's first cohort. As Secretary of the Navy Ray Mabus first announced in his May 2015 speech at the Naval Academy, this program is designed give our Sailors exposure to leading-edge business practices, techniques, and technologies with the competitiveness of the corporate business cycle.

10 Sep 2015

Tersan Fishing Trawler for Nenets Rybakkolhozsoyuza

Fishing vessel, named Pechora

The vessel, named "Pechora" eighth day of September was launched at a shipyard in Istanbul. The new sea trawler will be released in 2016. It will replace the outdated fleet of seven collective farms, which are included in the Nenets rybakkolhozsoyuz. So far, the Union owned three trawlers, the last of which - "Nes" - was built in 1994. The trawler built for Norwegian technology. A vessel of 60 and 15 meters wide, is equipped with a navigation system, modern equipment and a factory trawler for processing, freezing and packing fish.

06 Aug 2015

Malcolm Elected to General Dynamics Board

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The board of directors of General Dynamics has elected Mark Malcolm to be a director of the corporation, effective August 5, 2015. He has been appointed to serve on the Audit Committee. Malcolm is the president and chief executive officer of Tower International, Inc. (NYSE: TOWR), a position he has held since August 2007. Tower International is one of the largest independent global suppliers of engineered automotive structural metal components and assemblies for major vehicle manufacturers.

20 May 2015

Marsh to Take Over as Lloyd’s Register CEO

Alastair Marsh (Photo: LR)

Alastair Marsh, current CFO at the Lloyd’s Register Group Ltd. (LR), has been appointed as the successor to CEO Richard Sadler who has decided to step down at the end of 2015. Sadler will pass the CEO role to Marsh on October 1, 2015 and commence a formal handover period until the end of December 2015. Simon Nice, currently Group FP&A Director, will take up the role of Interim Group Financial Director during the transition. Following Sadler’s decision to step down as CEO, the LR board of directors conducted a six-month internal and external review of potential successors…

12 May 2015

US Navy Awards Alion $192m Lifecycle Contract

With U.S. Navy ships staying in service for extended periods, ensuring they are ready to meet national security goals requires continual efforts. In response to this need, Alion Science and Technology, a global engineering, technology and operational solutions company, has been awarded a contract valued at up to $192 million by the Naval Sea Systems Command (NAVSEA) Deputy Commander for Surface Warfare (SEA 21). Alion’s technical, program, business and financial management experts will help ensure that all non-nuclear surface ships (with the exception of the Littoral Combat Ships) are maintained and modernized during their service life. Additionally, Alion will support training systems that will familiarize crews with systems throughout each ship.

11 May 2015

Hiltwein Joins Rand Logistics as VP, CFO

Rand Logistics, Inc. has welcomed Mark Hiltwein as Vice President & Chief Financial Officer, reporting to Rand's President and Chief Executive Officer, Edward Levy. In this role,  Hiltwein will be responsible for all aspects of the company's financial management, and will also oversee information technology, purchasing/procurement, and insurance. He brings to Rand more than two decades of financial management experience, in positions of increasing leadership and responsibility. "The combination of Mark's deep technical accounting and compliance background, together with his extensive proven problem-solving skills, will support our continued focus on improving our operating and financial performance," said Levy. Prior to joining the company, Hiltwein spent seven years at Cenveo, Inc.

07 May 2015

Alion to Support Navy Surface Ship Lifecycle

With U.S. Navy ships staying in service for extended periods, ensuring they are ready to meet national security goals requires continual efforts. In response to this need, Alion Science and Technology, a global engineering, technology and operational solutions company, has been awarded a contract valued at up to $192 million by the Naval Sea Systems Command (NAVSEA) Deputy Commander for Surface Warfare (SEA 21). Alion’s technical, program, business and financial management experts will help ensure that all non-nuclear surface ships (with the exception of the Littoral Combat Ships) are maintained and modernized during their service life. Additionally, Alion will support training systems that will familiarize crews with systems throughout each ship.

08 Apr 2015

USCG Adm. Zukunft: The Man, His Mission

Credit: USCG photo, Patrick Kelley, Photographer to the Commandant

Adm. Paul F. Zukunft, the 25th commandant of the U.S. Coast Guard has a full plate. Driving sexual assault out of the Coast Guard; Preparing the fleet for operations through the year 2061; Coordinating intel and assets to stem the flow of illegal drugs ... they are all on the short list. From his Washington, DC, HQ he shares his vision and mission with Maritime Reporter. You are almost a year in this position as the Commandant of the United States Coast Guard. Looking back, critique year one.

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Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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