Corporate Management News

Singaporean shipbuilding group Seatrium announced it has appointed Adrian Teng as Chief Financial Officer (CFO), effective January 1, 2024.Teng brings over two decades of diverse international experience in strategy, finance, restructuring, operations and corporate management across developed and emerging markets. Prior to his current appointment, Teng was Group Chief Financial Officer and Chief Operating Officer of Clifford Capital Holdings, with responsibilities in finance, treasury…

Classification society ClassNK said it has conducted a third-party verification of greenhouse gas (GHG) emissions from the entire value chain—including Scope 3 emissions—of shipping company NS United Kaiun Kaisha (NSU) and issued a GHG verification statement.While efforts to build a decarbonized society are being accelerated such as through strengthened GHG reduction targets in various countries and with the progress of sustainable finance, a framework for assessing GHG emissions has also been introduced to International Maritime Organization (IMO) regulations.

Danish based Maersk Tankers has taken delivery 115,000 dwt tanker Maersk Sara from Chinese shipbuilder Dalian Shipbuilding Industry Company (DSIC).The LR2 vessel, second in a series of 10, is said to be 20% more fuel-efficient than similar vessels she will replace in the existing fleet and meets the Energy Efficiency Design Index (EEDI) phase 3 requirements applicable from 2025.Maersk Sara is equipped with deepwell cargo pumps – an installation that increases cargo carriage flexibility and can save up to 50% fuel at every discharge…

Maersk Tankers has taken delivery of Maersk Sandra, the first in a series of 10 newbuild LR2 tankers on order from Dalian Shipyard, in China.The series' first six vessels were ordered in May 2018, and options for the final four vessel were exercised in May 2019.Due for delivery from 2020 through 2022, the vessels will come under Maersk Tankers’ commercial, technical and corporate management.

Danish ship owner Maersk confirmed it has exercised an option to order four additional product tankers from China's Dalian Shipyard.The order completes a a series of 10 newbuilds planned for delivery from 2020-2022 as part of Maersk's ongoing fleet renewal program in the LR2 segment. The first six vessels were ordered in May 2018.Søren C. Meyer, Chief Asset Officer at Maersk Tankers, said, “We are building the LR2s to ensure we have a portfolio of vessels that best fits our customers’ demands.

Ultra Petroleum informed that David Honeyfield has been appointed to serve as CFO of the gas producer with assets in Wyoming’s Green River Basin.A press release from the energy company engaged in domestic natural gas and oil exploration, development and production said that Honeyfield has over 25 years of experience in the energy and natural resources fields with a strong background in accounting and the corporate management of public oil and gas companies.Most recently, Honeyfield served as Senior Vice President and Chief Financial Officer of PDC Energy, Inc. and Chief Financial Officer of Jonah Energy LLC. He has also served in various leadership roles including President and Chief Financial Officer of Intrepid Potash…

John Morganti has joined Ecochlor in the new position of Vice President of Sales and Marketing.Morganti will direct the sales and marketing team, manage major client accounts, develop short- and long-range objectives to reach sales quota goals and revenue expectations, and work with corporate management to create five- and 10-year business plans for the company.Morganti is an accomplished senior executive and entrepreneur with a 25 year plus background in Sales and Operations Management.

The supervisory board of Hapag-Lloyd AG has unanimously approved to extend the contract of Chief Executive Officer Rolf Habben Jansen for a further five years until 31 March 2024. “With Rolf Habben Jansen at the head, Hapag-Lloyd has further improved its position as a leading global liner shipping company in a challenging market environment and as an active driver of industry consolidation. The extension of his contract ensures continuity in the corporate management,” said Michael Behrendt, chairman of the supervisory board of Hapag-Lloyd AG. Michael added: "We have thereby created the best conditions for the continuation of the successful course of Hapag-Lloyd.

Maersk Tankers announced a move to renew its fleet with a confirmed order for six Chinese-built LR2 product tankers for delivery from 2020.Maersk Product Tankers’ board of directors approved the order for the six LR2 newbuilds on contract with Dalian Shipyard. The deal includes an option for four additional vessels.“The current market makes the investment attractive because it offers competitive asset prices. The fleet renewal will help to sustain a competitive fleet that is meeting customers’ demands and retain a strong market position in the LR2 segment…

NETSCo president and CEO Richard A. Mueller has been nominated by his peers and approved by the Fellows Committee to be elevated to Fellow membership in the Society of Naval Architects and Marine Engineers (SNAME). Mueller has been a SNAME member for more than 39 years and has held various elected positions including four terms as Chairman for the Great Lakes/Great Rivers Section, F.V.P. of Planning/Public Policy and he currently serves as the Functional Vice President of Membership as well as on the Council and the Executive Committee.

The Stena Immaculate, the ninth vessel in a series of 13 new IMOIIMAX MR tankers, was named January 10, 2017 at a ceremony at China’s Guangzhou Shipbuilding International (GSI). A large number of guests, from both corporate management and partners as well as representatives of the shipyard had gathered on the quayside to attend the naming ceremony. The ceremony began with traditional Chinese dance and music before the ship’s godmother Katarina Ljungqvist, Head of Handelsbanken Western Sweden…

Egil Haugsdal has been selected to take over as President of Kongsberg Maritime. Haugsdal holds extensive leadership experience from KONGSBERG, currently leading Kongsberg Oil & Gas Technologies, with previous experience as Executive Vice President of Business Development and as President of Kongsberg Protech Systems. Haugsdal will assume his new position after a short period of overlap with current president Geir Håøy, who will assume the position of CEO of KONGSBERG in June 2016. “I am delighted with the confidence I have been given,” Haugsdal said.

The chemical and product tanker Stena Imperative was yesterday named at China Merchants Wharf in Hong Kong. The vessel, an IMOIIMAX MR tanker, is wholly owned by Stena Bulk and was delivered a few days ago from the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME*) in Guangzhou. The traditional naming ceremony took place in a rainy Hong Kong attended by representatives of corporate management, the owner, customers, partners and shipyard representatives from all over the world. The happy and proud godmother is Kim Olsson, wife of Dan Sten Olsson’s son William.

Attendees of BIMCO’s Annual Conference in Hamburg will today hear the very latest findings on the potential vulnerabilities of ships to cyber attacks. In a session dedicated to the topic, BIMCO and industry experts will show three scenarios showing the possible risks and the methods of prevention for a cyber attack on ships’ systems. The session is designed for corporate management but also focused on the safety of seafarers and ships. BIMCO delegates will hear from Andrew Fitzmaurice, CEO of Templar Executives, and a long-standing thought leader in the global information assurance and cyber security community. Today’s conference session…

Carsten J. Reinhardt, President and CEO of Voith Turbo and member of the Corporate Management Board of Voith GmbH, has resigned Tuesday in order to pursue other interests, the company announced. Dr. Uwe Knotzer will become the new Chairman of the Board of Management of Voith Turbo GmbH & Co. KG and member of the Corporate Board of Management of Voith GmbH with immediate effect Dr. Knotzer has been on the Board of Management of Voith Paper since 2012, where he is in charge of the Products & Services business line.

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced today that William E. Jenkins has assumed the role of chairman of the board after being elected at a meeting of the directors and trustees on March 13. Joining the Foundation's board in 2009, Jenkins served as treasurer and vice-chairman prior to being elected board chair. Jenkins is a director on the Board of American Bureau of Shipping, Inc., a trustee of Webb Institute, and was president and CEO of ExxonMobil affiliates providing worldwide shipping and marine transportation when he retired from ExxonMobil in 2012.

Knightsbridge Shipping Limited and Golden Ocean Group Limited have today entered into an agreement and plan of merger pursuant to which the two companies have agreed to merge, with Knightsbridge as the surviving legal entity. The Combined Company will be renamed Golden Ocean Group Limited upon completion of the merger. As a result of the expected merger, the Combined Company would become one of the world's leading dry bulk companies with a modern fleet of 72 vessels, of which 36 are newbuildings under construction. The merger is subject to approval by the shareholders of Golden Ocean and Knightsbridge in separate special general meetings expected to be held in December 2014 or January 2015 and the merger is expected to close shortly thereafter.

Manager and operator of the first semi-automated terminal in the Middle East, Khalifa Port Container Terminal, says it has appointed Mr. Mohamed Al Afeefi as Technical Director. Mr. Al Afeefi, who has been working in the oil & gas, aviation and energy intensive industries for the past 15 years, will be a key member of the corporate management team, with overall responsibility for overseeing technical, facility and workshop activities at ADT’s Khalifa Port Container Terminal. Bringing a wealth of industry experience to the terminal operator, Mr. Al Afeefi comes with a robust technical background as he led preventive maintenance programs…

Havyard Group informs that Roar Stenersen has been appointed as Executive Vice-President of Havyard Fish Handling & Refrigeration to replace Leif Gjelseth who takes over as leader of sales and business development. Roar Stenersen, has since October 2013 been the general manager of the two product areas in Havyard Fish Handling and Refrigeration and had day-to-day responsibility for operations. The Board has now appointed Stenersen as Executive Vice President for Havyard Fish Handling & Refrigeration AS. He also replaces Leif Gjelseth in the corporate management at Havyard Group ASA. The Group explains that since it acquired a majority stake in MMC Tendos Holding in 2012, there has been an ongoing process of integration of the company's activities in Havyard Group.

A global conference for shipbuilding corporate management gathered 74 top executives of the major shipyards from Japan, Europe, China, Korea and the U.S. (JECKU) to exchange views on global economic development, supply and demand prospects as well as important technological and regulatory developments to improve environmental performance of ships. The conference conclusions by Chairman Kazuo Tsukuda from the Shipbuilder’s Association of Japan highlighted that there are still a number of global economic uncertainties including energy security and the global slowdown of emerging economies.

Nordic Shipholding has entered a conditional restructuring agreement with Nordic Maritime, who will take over Nordic Ship Holdings debt of about  US$ 58,000,000. The company inform that after the restructuring it will be a tonnage provider in the product tanker segment and the objective is to grow the fleet. The five 37,000 dwt handy-size vessels will remain in commercial management with Maersk, where they participate in the Handytankers Pool, while the technical management of these vessels will remain with TB Marine in Hamburg.

Henning Nordgulen has been appointed Chief Financial Officer (CFO) of shipbuilders & offshore service providers Bergen Group ASA. Bergen CEO Asle Solheim said he was very pleased that Nordgulen had accepted the engagement: “Mr. Nordgulen has a comprehensive background from leading positions in finance, shipping and industry. Henning Nordgulen (48) has for the last seven years been Director of the corporate division and a member of the corporate management team in Sparebanken Vest.

Growth in the global economy and containerized transportation by sea in 2013 was slightly below the level of the previous year. Once again, available global slot capacity outpaced container transport volume as deliveries continue to exceed the level of scrappage, which also increased. As a consequence of the continuing overcapacity, freight rates in most trades remained under pressure or declined still further. The only positive support came from fuel prices, which have fallen slightly from the highest level of the previous year.