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Chief Executive

Olivier Named UK Club Chairman

Alan Olivier, the new Chairman and President of the UK P&I Club

Alan Olivier was elected Chairman and President of the UK P&I Club at their board meeting in Bermuda on October 28. He succeeds Dino Caroussis who has retired from the board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy Chairman in 2006. Mr. Caroussis, 61, of Chios Navigation, had been the Club’s Chairman for the past five years, having joined the board in 1996 in the shipping division. He held senior treasury and financial positions before his appointment as chief executive of Unicorn Shipping in 1995. He was appointed to the Grindrod Limited board in May 1999, where he is now chief executive. Alan is a director of local and international subsidiary companies, including Grindrod Bank Limited. Following the Club’s Annual General Meeting seven new Directors joined the UK board. They are Sheikh Talal Al-Khalid Al Sabah of Kuwait Oil Tanker Company; Angela Chao of Foremost Group, New York; Michael Fostiropoulos of Almi Tankers; Polys Hajioannou of Safe Bulkers, Athens; Edouard Louis-Dreyfus of Louis Dreyfus Armateurs, Paris; Paul Wogan of Gaslog, Monaco; and Riad Zein of Naftomar Shipping & Trading, Athens. Sheikh Talal Al Khalid Al Sabah is the Chief Executive Officer of Kuwait Oil Tanker Company in Kuwait. He joined Kuwait Oil Company in 1983 after graduating in business administration and gained his MBA in 1986


British Ports Reorganizes American Management

Associated British Ports Holdings Plc has appointed Douglas Tipton as head of the Seaport container terminal division at its American Port Services subsidiary, and will reorganize top management including the appointing. Tipton has been president and chief executive officer of Contship Containerlines Inc. for the past three years. He has extensive experience of the container industry, having also worked at Mitsui OSK, Maersk and Sea-Land


APS Management Restructured

Associated British Ports Holdings Plc is reorganizing top management at its American Port Services subsidiary, including appointing Douglas Tipton as head of the Seaport container terminal division. Tipton has been president and chief executive officer of U.S. shipping firm Contship Containerlines Inc for the past three years. He has extensive experience of the container industry, having also worked at Mitsui OSK, Maersk and Sea-Land


Ronald D. Sugar Elected President and Chief Operating Officer of Northrop Grumman

Northrop Grumman Corporation has named Ronald D. Sugar, president and chief operating officer chairman and chief executive officer. Dr. Sugar was elected to Northrop Grumman's board of directors last April. Kent Kresa, chairman and CEO, stated, "With our recent acquisition of Litton Industries, Northrop Grumman is now a $15 billion top-tier global enterprise with 80,000 employees. Ron's appointment provides our company with additional management depth


Lund Named New Statoil CEO

At its meeting on March 7, 2004, Statoil's board of directors appointed Helge Lund (42) as new chief executive for the Statoil group. Mr Lund is currently chief executive of Aker Kværner ASA. "Helge Lund was the first choice of the board and we are very pleased that he has agreed to lead Statoil in the years ahead," said Statoil chair Jannik Lindbæk. Lund graduated as a business economist at the Norwegian School of Economics and Business Administrationin Bergen


EDHEC-Risk Institute Welcomes Eight New Members

EDHEC-Risk Institute announced that eight new members have joined its international advisory board, which brings together scholars, representatives of regulatory bodies as well as senior executives from business partners and other institutions. The role of the international advisory board is to validate the relevance and goals of the research program proposals presented by the institute’s management and to evaluate research outcomes with respect to their potential impact on industry


NASSCO, BP Hold Naming Ceremony

Preparing to name the Alaskan Frontier are Richard Vortmann, President of NASSCO, ship's Sponsor Pamela Olver, spouse of Richard Olver, Deputy Group Chief Executive of BP, Richard Olver, Diane Malone, Matron of Honor, spouse of Bob Malone chief executive of BP Shipping, Ltd., and Bob Malone. National Steel and Shipbuilding Company (NASSCO joined BP p.l.c. in naming the Alaskan Frontier, the first of four Alaska-class double-hull oil tankers being built for BP Oil Shipping Company.


ConocoPhillips Announces Senior Management Changes

ConocoPhillips announced the following actions concerning the company's senior management: John Carrig, currently executive vice president, Finance, and chief financial officer, will become president and chief operating officer.  He will continue to report to Jim Mulva, chairman and chief executive officer. Jim Gallogly, currently executive vice president, Refining, Marketing & Transportation, will become executive vice president, Exploration & Production.


Wood Jr. Appointed Chairman at American Superconductor

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, announced the appointment of John W. Wood Jr. as chairman of the Board, effective August 16. He replaces former chairman and company founder, Gregory J. Yurek, who retired as chief executive officer earlier this year. Wood, 67, has been an independent director of AMSC since 2006. Prior to joining AMSC’s Board, Wood was chief executive officer of Analogic Corporation


Reservoir Names MD for Well Intervention

Fraser Louden (Photo: Reservoir Group).

Reservoir Group announced the appointment of Fraser Louden as managing director of its well intervention and measurements business. Acting as the Group management team’s interface with its growing portfolio of companies, Louden joins from an executive advisor role at FMC Technologies and previous expertise at READ Well Services Ltd., where he held key roles, including chief executive officer, vice president, business development manager and R&D manager.


Ukraine Suspends Gas Payments to Russia

Ukraine Suspends Gas Payments to Russia

 Ukraine is suspending payments to Russia for gas deliveries until the conclusion of price talks, chief executive Andriy Kobolev said on Saturday.   State-run Naftogaz has suspended payments to Russia amid increasing tensions in a standoff that has the potential to leave European Union


Gondán Lays Keel for MS-SC Training Vessel

Photo courtesy Gondán Shipyard

Gondán Shipyard celebrated the keel laying ceremony of the sail training vessel that the yard is building for the British Marine Society & Sea Cadets (MS-SC). In the ceremony, which took place this morning in Figueras Shipyard (Castropol) participated representatives from the British


ISC Expects Faltering Q1 2014 Financial Results

ISC Jones Act vessel: Photo courtesy of ISC

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3


Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger scale and risk for the deep-sea contracting and construction sector. Saipem of Italy announced a $4 billion contract related to


Canpotex Reaches Agreement with Indian Customers

Canpotex Limited announced it has agreed to an annual contract with its government and private sector partners in India to supply approximately 1 million metric tons of potash at a price of $322 per metric ton on a CFR basis. Steven Dechka, Canpotex's President and Chief Executive Officer


Kuwait's oil output capacity rises to 3.3 mln bpd - KPC

Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5 million bpd in 2015, the head of its state oil company said on Monday. Kuwaiti officials have previously said that capacity in the OPEC member state was around 3.1-3


Pellerin Builds HF- SEP for Stone Energy

Horizontal Flotation Separator

Pellerin Water Solutions (PWS), a subsidiary of Pellerin Energy Group (PEG), has designed and built a Horizontal Flotation Separator (HF- SEP) for Stone Energy Corporation. The specifically designed HF- SEP with dissolved gas flotation (DGF) technologies will enhance the separation process of


BV Strengthens Vehicle Inspections in U.S.

 Bureau Veritas has just completed the acquisition of Quiktrak Inc., an American company specializing in vehicle and agricultural machinery stock audit.   Founded in 1991 and headquartered near Portland, Oregon, Quiktrak provides field inspections and inventory auditing services for


Songa Offshore expects to secure financing for remaining rigs

Norwegian oil driller Songa Offshore is confident it can raise the debt it needs in order to pay for the last two rig newbuilds it has ordered, Chief Executive Bjoernar Iversen told Reuters on Tuesday. The two units have a combined price of just over $1


Chile Miner to Reopen Patache Port after Quake

Chilean copper miner Collahuasi said on Tuesday that it has received authorization to reactivate its Patache port in the country's north following a massive 8.2 magnitude earthquake and tsunami last week. "We just received authorization and a ship has already entered the port to load


NewLead to Acquire Two Panamax Dry Bulk Vessels

NewLead Holdings Ltd announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million. The two vessels are expected to be delivered to NewLead's fleet within the next three


Shell, CNPC cooperating in deep-sea exploration, shale gas

Royal Dutch Shell and the China National Petroleum Corp (CNPC) have signed a deal to boost cooperation in sectors like deep sea exploration as well as liquefied natural gas (LNG) and unconventional gas sources like shale, CNPC said on Wednesday.


Canada Grain Handlers to Expand, Crops Overwhelm System

Three Canadian grain handlers said this week that they will expand facilities to handle the country's crops, after a record-smashing harvest overwhelmed the transportation system. Viterra, owned by Glencore Xstrata PLC, said on Thursday it will spend C$100 million ($92 million) to boost grain


Two Refiners to Load Oil at Libya's Hariga Port

noc logo.bmp

Barely a day after Libya's National Oil Corp (NOC) lifted force majeure at Hariga port, two refiners are already preparing to pick up Sarir crude from storage over the next two weeks, trading and shipping sources said on Friday.   The Aegean Dignity is on subjects - meaning final


Oil Major Total Close to Angola Kaombo Decision

Kaombo block (Courtesy Total)

French oil major Total is on the verge of making a final investment decision on Angola's Kaombo oil project after lowering the cost by $4 billion, its chief executive said on Friday. "We're on the verge," Christophe de Margerie told reporters on the sidelines of an oil conference in


 
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