Angela Chao News

Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.Before joining Foremost Group in 1996, Angela Chao worked in the mergers and acquisitions department of Smith Barney…

New York City-based privately-held, family-run shipping company announced that it has taken delivery of a new 85,004 metric tons deadweight post-Panamax bulk carrier, the M/V Ting May. American dry bulk shipping company informed that the ship builds upon Foremost Group's tradition of operating a fleet of modern, environmentally-friendly ships built to the company's stringent specifications.This newest Eco-friendly post-Panamax ship will be immediately put in service for Bunge Limited, the ship’s charterer, which will deploy the ship to transport its dry-bulk cargoes to ports around the world according to its requirements.Consistent with industry practice in which the overwhelming majority of dry bulk ships are built in Asia…

Conference organizers have announced the speaker lineup for the 21st annual Hellenic-American and Norwegian-American Chambers of Commerce conference, often called the New York Shipping Conference. Entitled “The Life of a Ship”, the conference will feature luminaries including Steinar Nerbovik of Aker Philadelphia Shipyard, Ben Ognibene of Heidmar, Craig Stevenson Jr., Joseph Hughes of Shipowners Claims Bureau, Paal Johansen of DNV GL, and Angela Chao of Foremost Group . The event will be held on Wednesday, February 11 at the Waldorf-Astoria starting at 8:15 a.m. with conference registration and continental breakfast sponsored by DNB Bank ASA. The luncheon keynote speaker will be Sturla Henriksen, CEO of the Norwegian Shipowners’ Association, organizers said.

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.

The UK Club Board has decided on a general increase for 2014 renewal of 10 per cent. This across the board premium rating increase is in addition to any increase in the cost of the International Group reinsurance. Overall, the Club’s financial position remains strong with the free reserves and capital standing at US$473 million and total assets of US$1.6 billion as at 20 August 2013. Since these figures were recorded at the half year, the position has improved with investment income increasing from $6 million to $33 million.