The Manitowoc Company, Inc. named Timothy M. Wood as its new senior vice president and chief financial officer. He assumes the role from Carl J. Laurino, corporate treasurer, who had been serving on an interim basis since May. Wood, 54, of Chicago, brings 30 years of financial experience to the post. He previously held the same title at Redem Technologies, but spent the bulk of his career - 23 years - with Borg-Warner Corporation. For six years, he served as vice president of finance and chief financial officer for the billion-dollar company.
Blount/Barker ShipBuilding, Warren, R.I. has elected Jacob A. Stevens III as its new senior vice president. A well-known shipbuilder, whose career highlights include the construction of six 92 ft. (28 m), 4,000 hp Marci-Class Z drive tug boats in under 20 months for Moran Towing, Stevens will be responsible for all shipyard operations including engineering, design, labor, purchasing, scheduling and working with outside contractors.
American Commercial Lines LLC and its affiliated debtors today filed their Joint Plan of Reorganization in the United States Bankruptcy Court, Southern District of Indiana, New Albany Division. ACL and its affiliated debtors, including American Commercial Barge Line LLC and Jeffboat LLC, filed for Chapter 11 protection on January 31, 2003. Richard L. Huber, Chairman and Chief Executive Officer of ACL said “This reorganization of ACL as a stand-alone company provides the best recovery to the
Stolt-Nielsen S.A. announced plans to issue new senior five-year unsecured bonds with a term from April 15, 2004 to April 15, 2009. The senior five-year bonds will have a fixed yearly coupon of 8.75%. The first tranche of the senior five-year bonds will be NOK 500-700 million, with a total borrowing limit of NOK 1 billion. The nominal value of the senior five-year bonds will be NOK 500,000. The purpose of the bond issue is to refinance
Neptune Orient Lines (NOL) Group President & CEO Ronald D. Widdows announced new senior management appointments to head the Group’s APL Logistics business unit and its South Asia Region organisation. Jim McAdam has been promoted and assumes the position of President, APL Logistics, the unit of the NOL Group that provides international supply chain capabilities for customers globally. He replaces Brian Lutt who recently left the Group to pursue other opportunities.
Crowley Maritime Corporation's group recently completed the sale of 2.836 acres of unimproved land to Nenana Tortella Council on Aging for a mere $500. The lot, which has a market value of $25,000 upon recent appraisal in 2013, will be used by the council as a community match which is required to secure additional funds for a desperately needed, new Senior Center. Crowley’s Nenana terminal serves as a loading port for barges making fuel and freight deliveries to communities on the
American Commercial Lines LLC (ACL) announced that on April 15, 2002 it commenced an offer to the holders of its outstanding senior notes to exchange new 11-1/4% cash pay senior notes due January 1, 2008 and new 12% pay-in-kind senior subordinated notes due July 1, 2008 for its outstanding 10-1/4% senior notes due June 30, 2008. In connection with the exchange offer, ACL is also soliciting its noteholders to (1) become party to, and a beneficiary of, a mutual release
Trico Marine Services, Inc. has closed its previously announced refinancing of its existing U.S. revolving credit facility ("U.S. Dollar Facility"). The Company refinanced the U.S. Dollar Facility to relieve the Company of the maintenance debt covenants under that existing facility and to add operating flexibility. The Company's new $55 million senior secured credit facility ("New Credit Facility") is secured by 43 supply vessels. The
WQIS has learned that even market leaders and pioneers need to stay dynamic and never get complacent. Shaking things up can break barriers for even the strongest organizations. By insuring some 35,000 vessels, across every major waterway in the US, WQIS says it has earned the backing of 16 of the largest insurance companies in the United States. For a company with these credentials, it would be easy to settle into a routine
Trailer Bridge, Inc. announced the appointment of Dave Miskowiec to the role of Executive Vice President, Commercial. In his new role he will be responsible for all commercial activity focusing on automotive, NVOCC and charter barge - heavy lift sectors within Trailer Bridge. Mr. Miskowiec began his career at Trailer Bridge in May of 1997 and has since served in numerous executive capacities, most recently as Vice President of Sales.
Beth Bodensteiner has been promoted to senior vice president, revenue management for Holland America Line. In this capacity, Bodensteiner will lead the development and execution of all revenue management programs and initiatives that support Holland America Line’s revenue goals
The appointment of Tim Marsh as senior vice president sales and marketing by Canadian Pacific Railway Ltd is aimed at bolstering its battered intermodal business, says a report from Globe and Mail. Marsh, who brings 25 years of international shipping industry sales and marketing experience
Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12
Carnival Cruise Lines is to return to Europe next year with its biggest ship ever, the 3,936-passenger Carnival Vista. The Doral-based cruise line revealed details about the new 133,500-ton vessel. The ship, which starts sailing in May of 2016, will include the first IMAX Theatre at sea
With the launch of MSC Oscar, Mediterranean Shipping Company (MSC) sets a new record in terms of TEU capacity; at 19,224 TEU, the vessel is largest containership ever built.The ship was officially inaugurated at the Daewoo Shipbuilding and Marine Engineering (DSME) Shipyard in South Korea on
Hapag-Lloyd is preparing to become the world’s first MRV-Ready certified shipowner, working with classification society DNV GL on a verification program that will prove their readiness with incoming EU emission monitoring regulations for their entire own-managed fleet
Norwegian Cruise Line has selected a Rolls-Royce permanent magnet tunnel thruster to upgrade the propulsion package onboard cruise vessel Norwegian Epic. According to Rolls-Royce, the permanent magnet tunnel thruster offers numerous advantages over traditional tunnel thrusters
The U.S. Navy authorized ships in the Aegis Combat Weapon System baselines 5.3 and 3.A.0 series to carry the Raytheon Company Standard Missile-6. The authorization expands the missile's use from five ships to more than 35 ships. "SM-6 is the longest range integrated air and missile
AVEVA announced that Eversendai Offshore, a brand new customer, has made a significant investment in AVEVA’s Integrated Engineering & Design solutions through its deployment of AVEVA Marine. The agreement includes the full suite of AVEVA Marine engineering and design applications that
Crowley Maritime Corporation’s liner services group will add a 400 FEU capacity, flat deck barge to its South Atlantic Puerto Rico service in the first quarter, increasing the rotation between Jacksonville, Fla., and San Juan to four sailings each week
Euronav NV announced the commencement of its underwritten initial public offering in the United States of 13,550,000 ordinary shares. The company will grant the underwriters a 30-day option to purchase additional ordinary shares representing up to 15% of the offered shares.
ABS has awarded approval in principle (AIP) for Hyundai Heavy Industries' next-generation HD12000 heavy duty, wide beam drillship design. The drillship, which can accommodate a 20,000-psi blowout preventer system, has been designed in full compliance with the ABS Guide for the
The CMA CGM Group announced the opening of the CMA CGM Academy, its new in-house university, located in its Marseilles (France) headquarters. The first in-house university was launched years ago to make the group’s collaborators’ training a priority
The keel for the first of two liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ships for Crowley Maritime Corp.’s liner services group was laid during a ceremony at ship-builder VT Halter Marine, Inc.’s facility in Pascagoula, Miss.
Bollinger Shipyards announces the promotions of three key leaders, as Tim Martinez, Scott Theriot and Corey Phelps enter new roles. Making the announcement, Bollinger’s President and CEO Ben Bordelon, said, “We will be strengthening our position in the market by developing our