Hilo Harbor cargo terminal breaks ground

Construction of a new $55 million interisland cargo terminal at Hilo Harbor will begin after a Wednesday groundbreaking ceremony by the state Department of Transportation. Cargo is currently handled at outdated Pier 2 facilities originally built in the 1920s.

The new facility will be built in three phases, the first of which will consist of dredging the harbor to accommodate ships that will dock at the future Pier 4. The shoreline slope also will be dredged for construction of the new pier. The first phase will cost $8.1 million.

The second, $10 million phase, to begin later this year or early next year, will encompass construction of a cargo yard, while construction of the $34 million Pier 4 is set to commence in the summer of 2013.

$50 million Pearl Harbor contract awarded

The U.S. Naval Facilities Engineering Command Pacific at Pearl Harbor has awarded a $50 million contract to TEC-AECOM Pacific, a joint venture. It is a one-year contract with four one-year options.

The companies will provide environmental planning services, preparing National Environmental Policy Act documents, perform related environmental studies and technical services requested by the U.S. Navy and U.S. Marine Corps in Hawaii, Guam, Japan and other locations in the Pacific Basin, Indian Ocean and on the mainland.

AECOM trades in technical and management support services for the transportation, facilities, environmental, energy, water and governmental markets, while TEC is an employee-owned company providing consulting expertise in several of the same markets as well as in others.

Cyanotech taps new chief financial officer

Kona-based microalgae producer Cyanotech Corp. announced Wednesday the appointment of Jole Deal as chief financial officer.

Deal succeeds Deanna Spooner, who resigned after nearly three years as CFO.

"Cyanotech is fortunate to attract an executive of Jole Deal’s caliber as its new CFO," said Brent Bailey, president and chief executive officer of Cyanotech.

"Jole brings extensive experience as a senior financial executive in consumer products and nutritional supplement manufacturing companies as well as a strong public accounting background."

Deal previously was chief financial officer of Puretek Corp., a private manufacturer of nutritional supplements, generic pharmaceuticals and beauty care products, based in San Fernando, Calif.

Japan exports fall for fifth straight month

TOKYO » Japan’s exports fell for the fifth straight month in July as the country contends with a strong yen and the ongoing impact of the March earthquake and tsunami.

Exports fell 3.3 percent from a year earlier to ¥5.78 trillion ($75.6 billion), the finance ministry said today.

Exports are a key driver of the world’s No. 3 economy, and the country is hoping that overseas demand will help it bounce back from the March 11 disaster. Data earlier this week showed that Japan’s economy shrank for the third straight quarter in the April-June period.

The earthquake and tsunami damaged or destroyed factories in northeast Japan, which led to serious parts shortages for manufacturers in the auto and electronics industries.

Abercrombie & Fitch income jumps 64%

NEW ALBANY, Ohio » Abercrombie & Fitch Co. said Wednesday its second-quarter net income rose 64 percent, boosted by higher demand for its preppy fashions in the U.S. and Europe.

The retailer said Wednesday that its net income rose to $32 million, or 35 cents a share, from $19.5 million, or 22 cents a share last year. Analysts expected earnings of 29 cents a share.

Revenue rose 23 percent to $916.8 million from $745.8 million last year. U.S. sales rose 12 percent to $684.9 million. International sales rose 74 percent to $231.9 million.

Revenue in stores open at least one year rose 9 percent, including a 5 percent increase at Abercrombie & Fitch, a 7 percent increase at Abercrombie kids stores, and a 12 percent increase at its popular surf-themed Hollister stores.

After losing market share to cheaper competitors during the recession, Abercrombie & Fitch has rebounded as it focuses on international expansion and closing underperforming stores.

The company plans to open 40 international Hollister stores this year and close 60 to 65 U.S. stores.

ON THE MOVE

Royal State Insurance has promoted Lynn Arce to customer service manager for Royal State National Insurance Co. She has been with the company since 1992, serving as a corporate secretary and administrative assistant to the president and chief executive officer.

Maui Divers Jewelry has hired Timothy Deegan as vice president of marketing. He has more than 23 years of high-level marketing experience, including serving as president and chief executive officer of Loomis Integrated Strategic Communications.

King & Neel has announced: 

» Sean K. Spencer has been promoted to assistant vice president. He has been with the company since 2008 and works in the areas of construction bonding, employee benefits, business insurance and self-insurance group programs.

» Vice president Tim Matthews has become one of the owners of the insurance agency. He joined the company in 2007 and has 15 years of global construction-related safety experience.