FSL Trust Sells Vessel to Trim Debt
FSL Trust Management, as trusteemanager of First Ship Lease Trust (FSL Trust), announces that the Trust has sold its chemical tanker, FSL Tokyo, for a cash consideration of US$13.8 million. FSL Tokyo is a 2006, Japanese-built, 20,938 DWT chemical tanker that has been deployed in the spot market. The net proceeds from this Disposal will be applied in full to the outstanding loan facility in 1Q2018. FSL Trust will record a related impairment charge of approximately US$9.0 million in 4Q2017.
D'Amico Announces Sale & Lease Back of MR Vessel
D'Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Freedom, a 49,990 dwt medium-range product tanker vessel, built in 2014 by Hyundai-Mipo, South Korea for a consideration of US$ 28.0 million. D'Amico Tankers is an operating subsidiary of d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market. This transaction allows d’Amico Tankers to generate around US$ 13.4 million in cash…
TEN Sells, Leaseback Two Suezmax Tankers
Greece-based Tsakos Energy Navigation (TEN) has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike. The sale proceeds have been used to reduce debt and add $16.0 million of cash to TEN’s balance sheet. The vessels were delivered to their new owners in late December 2017. “Following the 15-vessel renewal program that was completed last quarter, the sale and purchase of vessels remains an integral part of TEN’s strategy to maintain its owned fleet modernity and enhance liquidity…
Jacobsen, Smordalen Wilhelmsen Management
The new vice presidents will have two roles. Each will be responsible for their own fields of operations - International Customer Services and International Sales - but they will also have a critical role in the CMT. Jacobsen started her career in shipping with the company in 1995. Since that time she has been employed in a number of key positions within Sales and Marketing, before moving into International Sales in 2008. Smordalen has a background in sales management. He started in 1993 as a sales trainee and rose to the position of Sales Director, Europe.
Bueno Joins Sales Team at ACR Electronics
Jose Bueno Joins the ACR Electronics Sales Team as International Sales Manager. Bueno is an international sales and marketing veteran having most recently held positions with Directlink International and Cosmo Communications Corp. both located in Miami, Florida. Bueno will oversee marine and bridge electronics, government, outdoor and aviation market sales for ACR¹s international division covering Asia, the Pacific Rim and Latin America.
SBM Offshore Hands over FPSO Turritella to Shell
SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V. Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017. The Turritella FPSO is contracted for the Stones deepwater development in the Gulf of Mexico, which began production in 2016. The vessel has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.
Taylor Made Appoints New Sales Director
Taylor Made Environmental has elected Ned Trigg to the position of international and domestic OEM sales director. Trigg will be responsible for all aspects of sales operations, including assigning OEM territories, OEM relations and coordinating requirements between sales and production, applications and engineering. Upon receiving a Bachelor of Science degree in Mechanical Engineering from North Carolina State University in 1987, Trigg joined Marine Development Corporation (MDC) as an applications engineer. Two years later, he became an OEM sales manager and called on key domestic accounts for over 10 years. In 1997 he was given the added responsibility of Southeast Asia.
Lang Expands Management Team
Lang Manufacturing Company, cooking solutions provider, has appointed new sales managers for its national and international sales coverage. Kenneth Fader was named national accounts manager for the eastern region; Mark Pumphret as eastern regional sales manager, and Jon Walker as director of government contracts, marine & international sales.
Kelvin Hughes Expands Sales Force
Kelvin Hughes has expanded its international sales team to meet the growing interest in its range of hi-tech radar equipment for the commercial, military and leisure sectors. Ian Yuill has been appointed International Sales Manager and Peter Chahal and Wilko Smit have become Area Sales Managers. Yuill has a background in sales and marketing spanning over 25 years with companies such as Northern Foods, BT and BBL Medical. He joined Kelvin Hughes from US based software company, Compassoft, where he managed the European sales operation as Director of EMEA. Smit, originally from Rotterdam, served in the Royal Dutch Navy for six years as a Technical Specialist before working as a Sales Engineer for one of Kelvin Hughes’ main distributors.
Hyundai Heavy Sets 2018 Sales Target $7.5 billion
South Korea's leading shipbuilder Hyundai Heavy Industries (HHI) aims to achieve 7.98 trillion won ($7.5 billion) in sales this year as its president warned of an unprecedented crisis due to declining order backlogs, reports Yonhap. Hyundai Heavy has not won any offshore plant orders for the past two years. The company's 2018 sales target represents a 60 percent decline from a decade ago. The shipyard said it is expected to post an estimated 10.03 trillion won in sales for 2017. The sales target is based on a parent base.
EMMF Relocates to Antwerp
EXXONMOBIL Marine Fuels (EMMF) is relocating its International Sales for Europe, Africa and Middle East to Antwerp, effective February 2, 2004. This strategic move will see EMMF's International Sales Team, currently located in Leatherhead (UK), co-locate with its Benelux Marine Fuels Sales Team, which recently relocated to Antwerp from Breda (Netherlands).
W&O Announces New Hires
W&O Supply announced two new hires. In order to develop relationships and partnerships with its clients, W&O Supply has created two new positions: Business Development Manager and Director of Sales and Marketing. With more than 25 years of sales and marketing experience and leadership in multiple industries, Sam Entriken has been hired as W&O Supply’s Director of Sales and Marketing. Entriken will be responsible for growing W&O Supply’s domestic leadership position and providing leadership on the company’s international market growth goals. A leader in sales, marketing and business development, new hire Steve Stafford joins W&O Supply as Business Development Manager.
Holland America Line & Seabourn names Kammerer is V.P
Mark Kammerer has been named vice president, international marketing and sales for Holland America Line and Seabourn. In this role, he will be responsible for the companies’ sales offices in the U.K., the Netherlands and Australia, as well as Holland America Line and Seabourn’s growing international business. Kammerer will report to Joe Slattery, Holland America Line’s senior vice president, global marketing and sales. “Mark brings incredible knowledge and experience to this position, and his expertise supports the continued growth in our international presence,” said Slattery.
Crowley Names Vargas VP, Business Development
Veteran sales executive in ocean transportation and logistics Daniel Vargas has been appointed vice president of international business development to support the Crowley Maritime Corp. liner and logistics services groups. He will work closely with Crowley's new director of logistics in St. Maarten, Jeffrey de la Combe, to bring supply chain solutions for customers and their cargoes originating outside the U.S. In the newly created role, Vargas will spearhead the development of both full- and less-than-container load cargo (FCL/LCL) originating from international locations…
Jet Edge Appoints New International Sales Engineer
Jet Edge, Inc., a manufacturer of ultra-high pressure waterjet and abrasivejet systems for precision cutting, surface preparation and hydrodemolition, has appointed Antoine Deproost as its new International Sales Engineer. Deproost is responsible for sales of Jet Edge systems in Europe, South America and the Middle East, and for developing international distribution partners in Africa, Asia, Australia, the Caribbean and Central America. Antoine brings to Jet Edge more than 20 years of experience in international sales and global product management. Deproost has an Electro-Mechanics engineering degree from T.I.K.B of Belgium and a specialization diploma in electronics from PBNA, a Dutch engineering academy. He also has received training in marketing and sales.
Rolls-Royce Shares Jump as Commercial Marine Unit Sale Mulled
Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units. Shares in the company jumped after it said the loss-making unit could be sold. They were trading up 7.2 percent at 1330 GMT. The announcement came as part of a restructuring of the aero-engine maker into civil aerospace, defence and power systems units, with naval marine and nuclear submarines consolidated into defence and civil nuclear into power systems.
Cummins Reports Results for Q2 2013
Cummins Inc. today reported results for the second quarter of 2013. The company said they expect full year revenues to be in line with 2012. Second quarter revenues of $4.5 billion increased 2% from the second quarter of 2012. Revenues in North America increased by 7% and international revenues declined by 4%. Within international markets, growth in Brazil and China was offset by weaker demand in Europe, India and Mexico. Earnings before interest and taxes (EBIT) were $621 million or 13.7% of sales, compared to $663 million or 14.9% of sales a year ago, excluding special items. Net income attributable to Cummins in the second quarter was $414 million ($2.20 per diluted share), compared to $465 million ($2.45 per diluted share) in the second quarter of 2012 excluding special items.
Karlstad Named Director of Sales at SIS
Star Information Systems (SIS), a world provider of integrated fleet management software, has appointed Martin Karlstad as the new Director of Sales of SIS Oslo, effective immediately. In this role, Martin will be responsible for the company’s marketing and sales strategy. Martin will also play a leadership role in SIS’s strategic direction and sales practices. Martin brings over a decade of experience in specialized software for shipping and internet technology with companies such as KPNQWEST, ShipNet, and SpecTec (now Xantic). At the beginning of his career, Martin gained solid experience within international sales and market analysis while working as a broker for Sea Service International and market analyst with the US shipowner, Lexmar, Norway.
L-3 Acquires International Electronics
L-3 Communications, announced has acquired the six corporations of G.A. International Electronics Group. G. A. International Electronics is a high seas marine electronics business providing sales and service of marine electronics equipment for navigation and communications onboard commercial tankers, freighters and major cruise liners operating within the United Sates and in the . The business will be combined into a single unit and renamed L-3 G.A. International and will be integrated into the L-3 Marine and Power Systems Group. Headquartered in , L-3 G.A. International has been successfully providing sales, installation, and service for a broad range of OEM navigation and communications products to commercial maritime shipping and cruise line companies for nearly 25 years.
Tajikistan to Use Caspian Sea
Tajikistan is interested in supplying cargoes to international markets through the Caspian Sea, Ambassador Extraordinary and Plenipotentiary of the Republic of Tajikistan to Azerbaijan to Azerbaijan Soli Rustam said during his visit to the Azerbaijan Caspian Shipping Company (ACS). ACS Chairman of the Shipping Rauf Veliyev informed the guest about the activities, carried out in Azerbaijan in the field of maritime transport, the successes, achieved in the process of updating the fleets, and the contribution of AZerbaijan to the development of transport corridors.
MOL (America) Inc. Welcomes New Manager
MOL (America) Inc. appointed of Akira Kunimatsu to the position of Senior Manager, International Sales, Midwest region. Mr. Kunimatsu, who is based in Elmhurst, IL, is responsible for managing all aspects of MOL’s international sales activity in the U.S. Midwest.
Mathewson Joins FarSounder as Sales Director
Marine electronics manufacturer FarSounder, Inc. announced that Michael Mathewson has joined the company in a newly-created position of Director of Global Sales, charged with addressing the continued growth in the international marketplace for FarSounder key technologies for commercial, defense and private luxury yachts. He will report to CEO Cheryl M. Zimmerman. A mechanical engineer by training with expertise in the marine science, technology, engineering and international marketplace…
L-3 GAI Appoints Schwiering as Sales Manager
L-3 G.A International (L-3 GAI) announced that it has appointed John Schwiering as the sales manager of its Seattle, Wash. office.Schwiering was formerly a regional sales manager for Japan Radio Company and has over 20 years of experience in the maritime industry. Having also served in the same sales capacity for Radio Holland USA for 17 years, Schwiering is experienced in marine electronics and well-versed in both national and international sales. A division of L-3 Marine & Power Systems, Ft.