Leo L. Mellam, chairman of Flexi-Van Corporation, the New York City-based maritime equipment leasing company, recently announced the appointment of Hasko W. Hofmeister as vice president, Western Region of its subsidiary, Flexi-Van Leasing, Inc.
Mr. Hofmeister will direct the company's container and chassis leasing activities from San Francisco.
Flexi-Van Leasing, Inc. spans five continents, with over 219 offices where over $400 million in intermodal equipment is provided to the transportation industry worldwide.
Prior to joining Flexi-Van, Mr.
Hofmeister was a vice president at Pacific Far East Line, Inc., a San Francisco-based steamship company. Previous to that, Mr.
Hofmeister was associated with, and one of the founders of, Trans Ocean Leasing, a West Coastbased international intermodal leasing corporation. During his association with the intermodal container-leasing industry, he developed and implemented intermodal transportation service systems for U.S. exporters and im- porters throughout the world.
Using his extensive experience and expertise in all modes of transportation, he was responsible for developing total distribution programs for exporters and importers.
Flexi-Van Corporation, the parent company, recently announced third quarter earnings for 1977 of $5,545,000. The corporation also announced net income for nine months, September 30, 1977, of $13,368,000. According to Mr.
Mellam, chairman of Flexi-Van: "Mr. Hofmeister brings to the corporation's West Coast operations personal expertise and an in-depth knowledge of the region's marketing needs." Flexi-Van Leasing, Inc. is located at 351 California Street, San Francisco, Calif. 94104.
most efficient way to finance equipment to keep up with the robust demand? Is ownership of the vessel through a loan structure the best option, or would a lease make better use of working capital? Another issue that operators face is how to evaluate the wave of marine lenders now entering the market and vying
. The "jumboization" increased the vessel's length to a C-8 vessel equivalent and more than doubled its refrigerated cargo-carrying capacity. Farrell leased the S/S Austral Entente in 1973 through a leveraged lease financing arrangement with General Electric Credit Corporation (GECC), the shipowner
DiFlo International recently announced that the company is introducing a monthly lease program for its Series 1000 Fuel Management Systems as an alternative to an outright purchase, according to Thomas E. Prosser, DiFlo president. Available to financially qualified operators of vessels and fleets in
loan (if there is any). The potential lender describes the collateral, lists any additional collateral to be pledged; describes the method for release of additional collateral; names guarantors; specifies loan amount and down payment. The lender will propose the term of the loan; the interest rate
A group of Oregon investors has purchased FMC Corporation's Marine and Rail Equipment Division in Portland, bringing corporate ownership back to the State. The new company, named Gunderson Inc., will re-establish more than 400 manufacturing jobs in the Portland area. The acquisition was spearheaded
the New York City Metropolitan Area waterways. Proposals are requested from qualified contractors for providing equipment and related services on a lease basis. The proposed demonstration project will use a minimum of one and not more than three highspeed marine vessels, with a minimum seating capacity
Shipbuilding subsidiary at the former Brooklyn Navy Yard, and the largest commercial ship ever ibuilt in the United States, the Brooklyn will be leased by General Electric to a corporation which has a 25-year time 'charter to American Petrofina, Inc., a Dallas, Texas-based oil company. Joseph
wished to purchase a new inland waterways tank barge for its fleet. For various reasons, BargeCo’s balance sheet would not support conventional loan or lease financing from the financial institutions that were the usual sources of financing for this type of vessel. Word of BargeCo’s plight reached HopperCo
by GE Credit. The Stuyvesant, like its sister vessels, is capable of delivering 1,600,000 barrels of oil. GE Credit has arranged a 20- year leveraged lease of the vessel to the newly formed shipping corporation, Queensway Tankers, Inc., which in turn has arranged a three-year time charter to SOHIO to
. Zidell is a long-established marine repair and construction company located on the Willamette River. It builds barges of all types for sale or lease, and operates extensive repair facilities for ships and barges in two drydocks and large-scale ship fitting areas. Zidell Marine Corporation, Tacoma
Sea Containers Atlantic Ltd., the Bermuda affiliate of Sea Containers Inc., One World Trade Center, New York, N.Y. 10048, has announced the signing of a letter of intent with Nippon Kokan K.K., Japan, for the construction of four large containerships. The proposed vessels will each have a capacity
MARINE CRANES in way of changes to the NY Canal’s work barge had to be made in order to install the crane. “The existing holes through the four-inch foundation mounting plate were drilled to accept slightly larger bolts and an additional four holes were drilled to increase the total number of mounting
MARINE CRANES Exceptional (Market) Reach Lifts a Crane Retro? t to Success T e New York State Canal System, Advance Marine and MelCal Cranes all enjoy a reputation for versatile applications in challenging conditions. It’s no wonder that their recent deal to replace an aging maintenance crane
COLUMN OP/ED ? re? ghting is not a pro? table or sustainable venture. For determine that marine ? re? ghting services require dedi- example, to meet the regulatory standards ASA companies cated assets in contrast to vessels of opportunity currently have pre-positioned marine ? re? ghting equipment
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I INSIGHTS: GOVERNMENT UPDATE ed several times. The changes, among countries or places. sisted for at least 48 hours; (3) has more board is or may be contaminated with a other things, make it easier for the CDC Operators of ships on international than common diarrhea; (4) has severe communicable
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Image Courtesy Yaskawa’s The Switch China challenge: The Switch presence in China includes this site in Luan. based wind turbines. The hope is to also for wind. A factory in Lu’an makes con- Parpala says, “Generally speaking, it get them buying drives for wind-service verter components. Beijing and
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