Glencore Boss Glasenberg Steps Down, Nagle Named CEO
Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO.Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing pressure from investors to cut carbon emissions.Glasenberg, 63, has been chief executive since 2002 and investors have been expecting a succession plan after several senior members…
USA's Ingram Barge Appoints Coal Division Sales Leader
Joe Johnson has been promoted to Assistant Vice President, Coal, in the Ingram Barge Company of Nashville, Tennessee. Joe Johnson already is serving in this newly created position, and the Ingram sales team now reports to him, with respect to their coal accounts. He joined Ingram in 2002 and has handled the majority of the company’s utility and export coal customer base. Prior to joining Ingram, he gained over 20 years of experience in the coal industry. The new Asst. V-P is an alumnus of the University of Denver…
Mercator Announces H1 Results
For the half year period ended 30th September, 2011, Mercator Lines Ltd. registered 25% growth in Total Income which stood at Rs.1584 crores (Rs.1268 crores). The Consolidated Net Profit for the period stood at Rs.21.41 crores (Rs.113.22 crores). During the period, the Coal Division contributed 58% revenue while Dry Bulk contributed 22%; Tanker 10%; Dredging 5% and Offshore Division 5%. The coal volumes are expected to further improve in the coming quarters. The recent coal mine acquired in Indonesia would commence commercial operations in the last quarter of FY12. The Oil and Gas Division has successfully commissioned FPU unit in Nigeria and the operations are doing well as per schedule. Exploration activities of two onshore oil blocks in Gujarat are on schedule.
