Navios Maritime Appoints Loizos to Board
Navios Maritime Holdings Inc., a vertically integrated seaborne shipping and logistics company, announced the appointment of Efstathios Loizos to its Board of Directors. Efstathios Loizos is a member of the Board of Directors of ION S.A.. He is also the President of the International Packaging Association and the Vice President of the board of directors of the Hellenic Association of Steel Packaging Manufacturers. Mr. Loizos received a Maitrise en Sciences Economiques from the University of Strasbourg and an M.B.A. in finance from New York University.
Kurz Joins Hvide As CEO
In the latest of various corporate changes that have occurred at Fort Lauderdale, Fla.-based Hvide Marine, the company has elected Gerhard E. Kurz as CEO and a member of its Board of Directors. He replaces James J. Gaffney, who had been serving as interim chairman and will now hold the position of non-executive chairman of the board. Jean Fitzgerald, who managed to bring Hvide to new levels by taking the fledgling company out of Chapter 11 bankruptcy, took on Hvide's reins as chairman and CEO following the resignation of longtime CEO, Erik Hvide last year. Fitzgerald, who recently underwent successful heart surgery, will continue to serve Hvide as a consultant and member of its Board.
Iran is Committed to Freedom of Navigation in Persian Gulf
Iran's foreign minister on Wednesday offered assurances that Tehran is committed to maintaining freedom of navigation in the Persian Gulf in the aftermath of the seizure of a commercial ship by Iranian forces a day earlier. "The Persian Gulf is our lifeline ... We will respect international navigation," Mohammad Javad Zarif told an audience at New York University. "For us, freedom of navigation in the Persian Gulf is a must." He added that senior foreign ministry officials and deputy foreign ministers from Iran and six powers would resume negotiations on a final nuclear deal on Thursday. He suggested the talks would take place in New York, where he is attending a review conference on the 1970 nuclear Non-Proliferation Treaty. (Reporting by Louis Charbonneau)
Tidewater Elects President
Tidewater Barge Lines, headquartered in Vancouver, Wash., has appointed Stephen A. Frasher as president and COO. Frasher, who holds an MBA from New York University, has 27 years of experience in the transportation industry, including time with Burlington Northern and Conrail.
Iran Says Respects Navigation Freedom, Day After Ship is Seized
Iran's foreign minister told an audience in New York City on Wednesday that Tehran respects freedom of navigation in the Gulf, a day after Iranian patrol boats seized a Danish container ship in one of the world's busiest oil shipping lanes. "The Persian Gulf is our lifeline ... We will respect international navigation," Foreign Minister Javad Zarif said during a discussion hosted by the New York University Center on International Cooperation and the think tank New America. Danish shipping company Maersk said the crew of the Maersk Tigris was safe and "in good spirits." Iranian authorities seized the vessel in the Straight of Hormuz on Tuesday, spurring the United States to send military vessels to monitor the situation.
Foxx Sworn in as 17th U.S. Secretary of Transportation
Charlotte Mayor Anthony Foxx was sworn in as the nation’s 17th Secretary of Transportation by Judge Nathaniel Jones in a private ceremony at U.S. Department of Transportation headquarters at 11 a.m. yesterday (July 2). The ceremony was attended by Foxx’s wife, Samara, and their two children, Hillary and Zachary, and used a Bible belonging to Secretary Foxx’s great-grandparents, Peter and Ida Kelly. Secretary Foxx worked for Judge Jones as a law clerk for the U.S. Sixth Circuit Court of Appeals after law school and invited Judge Jones to administer the oath of office today.
Justh Appointed to Odyssey Board of Directors
Odyssey Marine Exploration, a company in the field of deep-ocean shipwreck and offshore mineral exploration, appointed Mark B. Justh to its board of directors. The appointment adds a seat to the board, bringing the total number of directors to seven, including five independent directors. Justh previously served for 12 years at JP Morgan. There he was a managing director and head of Pan Asian Equities Distribution in Hong Kong. During his tenure at JP Morgan he was also responsible for Cash Equities Distribution in the Americas. Prior to JP Morgan, he was a partner at a startup fund in the media space, HPJ Media Ventures/DeNovo Capital. Earlier in his career, he was a vice president at Goldman Sachs International in International Equities. Justh holds a B.A.
GWMC Appoints Strand and New Board Members
Goltens Worldwide Management Corp. (GWMC) has announced the appointment of Roy Strand as Chief Operating Officer. Strand has previously served as the Vice President of Operations in the Americas and Europe, and will continue to serve as the Advisory Board Chairman within the Goltens Worldwide group of companies. Prior to joining Goltens, Strand held various managerial and global executive positions in the professional services field, including at KPMG Consulting, Netegrity and Computer Associates.
Horizon Lines Expands Board of Directors
Board to expand to eleven from eight; seven New Board Members Join Four Existing Directors; Four Directors Retire. Horizon Lines, a domestic ocean shipping company, today announced that it will expand its Board of Directors to 11 members from eight, effective November 25, 2011. In conjunction with the expansion, seven new directors will be appointed and four of the existing eight directors will retire. • Jeffrey A. Brodsky, Kurt M. Cellar, Carol B. Hallett, James LaChance, Steven L. Rubin, Martin Tuchman and David N. Weinstein will join the board as independent directors.
Barging Ahead in Uncharted Waters
A Real-Life Study in Creative Vessel Financing, or What Happens When Plan ‘A’ Is Not Working. Much has been written on the various structures and approaches that can be used to finance the construction and purchase of vessels. Such articles typically speak in general terms, presenting what might be called the textbook version of the approach under consideration. But what happens when reality rears its ugly head, and forces the deal to leave the well-marked channel and to venture into uncharted waters?
HAL & Kelly Clark in ‘Attorneys Who Matter’ List Again
The Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, recognized Holland America Line and Seabourn’s Kelly Clark for the second consecutive year in its “2014 Attorney’s Who Matter” list of lawyers in the Best General Counsel category. Clark serves as vice president, general counsel, and chief ethics officer for the Seattle-based cruise lines. This award showcases individuals representing the best and brightest in the legal field — from in-house counsel, ethics and compliance officers to outside counsel.
Northrop Grumman Appoints Maureen Del Duca Vice President
Northrop Grumman Corporation has appointed Maureen Del Duca vice president and deputy general counsel, Litigation and Investigations, effective immediately. In this role, Del Duca will be responsible for leading and managing the company's top quality internal team, and overseeing outside counsel for litigation, arbitration and investigations. Del Duca joins Northrop Grumman from her former position at AOL, where she was senior vice president and deputy general counsel, litigation, and chief ethics and compliance officer.
Amid Melting Arctic Ice, Kerry sees Looming Climate Catastrophe
Standing near Greenland's Jakobshavn glacier, the reputed source of the iceberg that sank the Titanic over a century ago, U.S Secretary of State John Kerry saw evidence of another looming catastrophe. Giant icebergs broken off from the glacier seemed to groan as they drifted behind him, signaling eventual rising oceans that scientists warn will submerge islands and populated coastal region. Briefed by researchers aboard a Royal Danish Navy patrol ship, Kerry appeared stunned by how fast the ice sheets are melting.
Book Review: Tugboats of New York
"Tugboats of New York" is one of those rare constructions where everything works just about perfectly. The text is insightfully, appreciatively, and masterfully written. The illustrations are informative, handsome, and sometimes — deliberately, one gathers, given some of the credits — quite beautifully artistic. The photo captions are detailed and often lengthy, turning the book into sort of an A-V show on paper. And what paper. The stock is coated and 60-lb. heavy, bright, easy on the eyes, apparently formulated to last the next century or two. The illustrations glisten with a sheen more reminiscent of actual photographic prints than something screened into a book.
American Society of Civil Engineers: Not Just a Tough Grader
Within the U.S. inland waterways industry, any mention of the American Society of Civil Engineers (ASCE) will almost certainly be in reference to the “Infrastructure Report Card” that ASCE prepares and issues every four years, describing the condition and performance of America’s infrastructure in 16 categories: aviation, bridges, dams, drinking water, energy, hazardous waste, inland waterways, levees, ports, public parks, rail, roads, schools, solid waste, transit and waste water.
Obituary: John Newbold
John "Jock" Newbold died Saturday, April 12, in New York. He was among the most well-known and highly respected figures in shipping and financial circles. Jock was most recently a Non-Executive Director of Castalia Partners Limited and also a member of the Advisory Board of Castalia Straits L.P. Newbold retired from Citigroup in 1997 after a 36-year career, the last 21 of which were spent with Citibank’s business with the shipping industry. From 1985 to 1997, Newbold was Division Executive in charge of the Global Shipping Division with offices in New York, London, Piraeus, Tokyo and Hong Kong. Earlier in his career, he held positions as Head of the Corporate Bank in Japan…
Campbell CEO Stephaich Weighs in on All Things Inland
Peter H. Stephaich is Chairman and CEO of Blue Danube Incorporated and Campbell Transportation Company. Peter is also on the Board of Directors of Blue Danube, a position that he has held since 1982. If today he isn’t the most familiar name on the domestic waterfront, then perhaps, he should be. Serving the barge industry for over 30 years in a number of key roles, he also counts among his many qualifications his tenure(s) as Past Chairman and Past Treasurer of the American Waterways Operators (AWO)…
Keppel Corporation Appoints New Board Director
Keppel Corporation Limited (Keppel) is pleased to announce the appointment of Mr Tan Puay Chiang (陈培璋) as Independent Director on the Board with effect from June 20, 2012. Mr Tan, 65, is a veteran in the oil, gas and petrochemicals sector. During his 38-year career with Mobil Oil and later ExxonMobil, he held executive management roles in Australia, Singapore and the United States. These included the positions of Vice-President, Mobil Research & Technology Corp, USA and Chairman & Managing Director of Mobil Oil Australia. Mr Tan retired as Chairman, ExxonMobil (China) Investment Co in 2008. Dr Lee Boon Yang, Chairman, Keppel Corporation, said, "We welcome Puay Chiang to the Board. Mr Tan is a non-executive Independent Director of Singapore Power and Neptune Orient Line.
Kurz & Widdows Receive AOTOS Award
The United Seamen's Service (USS) 2009 40th Annual Admiral of the Ocean Sea Awards (AOTOS) will be presented to Donald Kurz, President and CEO of Keystone Shipping Co., headquartered in Philadelphia, and to Ronald Widdows, Group President and CEO of NOL (Neptune Orient Lines) of Singapore, parent company of American President Lines (APL). A Special AOTOS Award will also be presented to the United States Coast Guard. The maritime industry's most prestigious honors will be awarded at a gala industry dinner and dance to be held at the Sheraton New York Hotel and Towers, New York City, on November 13, 2009. Richard Hughes, Chairman of the USS AOTOS Committee and President of the International Longshoremen's Association, AFL-CIO, made the announcement on the occasion of the USS Annual meeting.
Rethinking Inland Infrastructure Finance
P3: An alternative to tolls or lockage fees in public-private partnerships for inland waterways. Within the generally sorry state of the U.S. inland waterways infrastructure, there are some locations where conditions are particularly dire. Among those in this latter situation are several locks and dams on the Illinois River, including the La Grange Lock and Dam and the Peoria Lock and Dam, both of which were completed in 1939. Both of them are on the U.S. National Register of Historic Places, which is a dubious distinction for a major transportation facility of the twenty-first century.
Kurz, Widdows, USCG 2009 AOTOS Recipients
The United Seamen’s Service (USS) 2009 40th Annual Admiral of the Ocean Sea Awards (AOTOS) were presented to Donald Kurz, President and CEO of Keystone Shipping Co., headquartered in Philadelphia, and to Ronald Widdows, Group President and CEO of Neptune Orient Lines (NOL) of Singapore, parent company of American President Lines (APL). A Special AOTOS Award was also presented to The United States Coast Guard. The maritime industry’s most prestigious honors were awarded at a gala industry dinner and dance held at the Sheraton New York Hotel and Towers, New York City, on November 13, 2009.
Navios Appoints George Malanga to Board
Navios Maritime Holdings Inc. (NYSE:NM), a global, vertically integrated seaborne shipping and logistics company, announced the appointment of George Malanga to its Board of Directors. George Malanga is currently serving as the Chief Credit Officer of The Bank of New York Mellon Corporation. Malanga holds a bachelor degree in Business Administration from Rutgers College and an MBA in Finance from New York University. Navios Holdings has also announced that Rex Harrington, who has been a director of Navios Holdings' since October 2005, has resigned so that he can join the board of Navios Maritime Acquisition Corp. (NYSE:NNA.U).