Anthony and Nicolás Remain on Hapag-Lloyd Board
Hapag-Lloyd AG has announced the continuity in the executive management - Anthony J. Firmin remains COO and Nicolás Burr remains CFO. The Supervisory Board of Hapag-Lloyd AG extended the Executive Board contracts of Anthony J. Firmin (COO) and Nicolás Burr (CFO) by two years until 30 June 2019 and 29 February 2020 respectively. “In this important phase involving the upcoming closing and subsequent integration of UASC, we are counting on continuity in the executive management.
MOL Holds Graduation Ceremony for Filipino Seafarers
Mitsui O.S.K. Lines announced the graduation of 88 students in the sixth class of the "3rd Year Program," which MOL introduced with the goal of developing crewmembers who will uphold strict safety standards in vessel operation. The 3rd Year Program targets new seafarers from among third-year students at partner maritime schools in the Philippines. MOL provides education and training at the Magsaysay Institute of Shipping (MIS), its training center in the Philippines. On hand for the graduation ceremony were Development Bank of the Philippines President, Cecilia C.
Eley to Take over as Polarcus CEO
Duncan Eley has been appointed chief executive officer of Oslo listed offshore geophysical services company Polarcus Limited, replacing Rod Starr, who has resigned following a two year reorganization period. Eley has been promoted to the CEO role from his current position as chief operating officer, succeeding Starr effective immediately. Starr will continue to work with the executive management team and Polarcus' Board of Directors for a transition period during the second quarter of 2017.
GasLog Partners buy GasLog Greece
Greece-based GasLog Partners LP has reached an agreement to buy 100% of the shares in the entity that owns and charters the liquefied natural gas (LNG) tanker GasLog Greece from GasLog Ltd. The aggregate purchase price for the Acquisition will be $219 million, which includes $1 million for positive net working capital balances to be transferred with the vessel. GasLog Partners expects to finance the acquisition with cash on hand, including proceeds from its recent equity offering, and the assumption of $151 million of GasLog Greece's existing debt.
Ocean RIG Files for Bankruptcy Protection in US
Rig contractor Ocean RIG UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court amid a deep and prolonged downturn in the industry. Shares of the company plunged 36.4 percent to 46 cents in early trading on Tuesday. The Cyprus-based company, which had $3.25 billion in debt as of Dec. 31, filed for bankruptcy in the United States Bankruptcy Court for Southern District of New York on Monday. Under U.S. bankruptcy laws, Chapter 15 grants a foreign company protection from creditors looking to seize its assets in the country.
Dryships Acquires Four Newcastlemax Vessels
DryShips Inc. has entered into agreements with unaffiliated third parties to acquire four Newcastlemax bulk carriers of approximately 206,000 DWT and with an average age of 3 years. The company expects to take delivery of the vessels before the end of June 2017. DryShips will finance the total gross purchase price of approximately $124 million using cash on hand. Current liquidity stands at approximately $455 million. Two of the vessels will be employed under time charter contracts, while the other two will trade in the spot market.
Borr Drilling Scoops up Transocean Rigs for $1.4 Bln
Borr Drilling, founded by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water drilling rigs for $1.35 billion. The rig market deal is Borr's biggest since it was set up last year by Tor Olav Troeim and other executives who had left Seadrill, once the jewel in the crown of Norwegian-born shipping tycoon John Fredriksen but now battling with $14 billion in debt and liabilities. After years at Fredriksen's side, Troeim split with him in 2014. Since then Troeim has re-established himself as an independent player in the global shipping market with a high profile and a reputation for successful capital raising. Transocean, executives at Borr Drilling and Troeim were not immediately available for comment.
Hansen Joins Hempel as CCO
Hempel has appointed Michael Hansen as its new executive vice president and chief commercial officer (CCO). He will join the coatings manufacturer’s executive management board on 1 May, reporting directly to group president and chief executive officer (CEO), Henrik Andersen. Hansen joins Hempel after 19 years with Maersk, where he most recently held the position of vice president and global head of sales in Maersk Line. Based in Hempel’s headquarters in Denmark, Hansen will cooperate with his colleagues across the world and across Hempel’s different coating segments: protective…
Norway's Solstad Offshore, Farstad Shipping and Deep Sea Supply Agree Merger
Norwegian OSV companies Solstad Offshore, Farstad Shipping and Deep Sea Supply have signed off on merger plans first announced on February 6, 2017. The statutory merger plans have been approved and signed by the boards of Solstad, Farstad, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged. Deep Sea Supply and Farstad Shipping will merge into and be established as individual subsidiaries under Solstad Offshore, with shareholders of Deep Sea Supply and Farstad Shipping receiving shares in Solstad Offshore as consideration.
Container Shippers Ordered to Testify in US Investigation
The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation into an industry that is the backbone of global trade, the companies said on Wednesday. The world's biggest container shipper, Denmark's A.P. Moller-Maersk, Germany's Hapag Lloyd, Taiwan-based Evergreen, Hong Kong-based Orient Overseas Container Line (OOCL) said their executives were among those who had been subpoenaed. The United States is concerned that the proposed alliances of several major companies…
CMA CGM Supports Le Carburateur
CMA CGM, a leading worldwide shipping group, and le Carburateur, an incubator for small companies in the Marseille Northern Area in France, team up to stimulate entrepeneurship and job creation in the city. Under the guidance of Rodolphe Saadé, CMA CGM ‘s Chief Executive Officer, the company will offer all incubation costs within Le Carburateur to five newly created companies from the Marseille area. A jury, chaired by Rodolphe Saadé, CMA CGM’s CEO, will select five newly created companies related to the maritime…
Shigemi Named Executive VP at ClassNK
Dr. Toshiyuki Shigemi has been appointed as Executive Vice President as well as Executive Director of ClassNK, effective March 7, 2016. Yasushi Nakamura has stepped down as Senior Executive Vice President, and has been appointed as an Advisor to the Society. Dr. Shigemi joined ClassNK in 1981. After a career including roles in plan approval, ClassNK’s research institute, and on-site surveys, he took up the position of General Manager of the Development Department in 2008, where he was responsible for overseeing ClassNK’s rule development activities for over one decade…
14 Appointed to NOIA Board
The National Ocean Industries Association (NOIA) elected 14 industry leaders to its Board of Directors on April 21, 2016 during its Annual Meeting in Washington, DC. Gary Luquette, President and Chief Executive Officer, Franks International, N.V. Kirk Meche, President and Chief Executive Officer, Gulf Island Fabrication, Inc. Richard Morrison, Regional President Gulf of Mexico, BP America, Inc. W. Matt Ralls, Executive Chairman, Rowan Companies, Inc. Jeff Platt, President and Chief Executive Officer, Tidewater, Inc.
BW LPG Refinances Six Ex-Aurora Ships
BW LPG Limited has signed a Debt Facility Agreement of USD290 million for the re-financing of six 2016 built ex-Aurora ships. The re-financing has been raised from The Export-Import Bank of Korea (KEXIM) as ECA (Export Credit Agency) lender, with ABN AMRO Bank N.V., Singapore branch and Oversea-Chinese Banking Corporation Limited as Mandated Lead Arrangers. ABN AMRO Bank N.V., Singapore branch also acted as coordinator and facility agent. The all-in cost for this financing is LIBOR plus 1.88%, with a 16-year amortization profile.
Singapore Supports ReCAAP ISC’s Roadmap for the Future
Singapore endorsed the roadmap and strategies to strengthen Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) Information Sharing Centre (ISC) as a Centre of Excellence for Information Sharing on piracy and armed robbery against ships in Asia by 2020. Singapore, as a Contracting Party to the ReCAAP and host to the ReCAAP ISC, has participated in the 11th Governing Council meeting held from 14-16th March 2017. The Roadmap was the result of several rounds of consultations and discussions amongst Governors…
Malgrain Named Executive VP of Bourbon
At a meeting on November 4, Bourbon’s board of directors appointed Nicolas Malgrain as executive vice president effective December 1, 2014. He will be in charge of the group’s strategy, finance and administration. Malgrain, nominated on the proposal of the chief executive officer Christian Lefevre, will succeed Laurent Renard, who will retire effective December 31, 2014, on the executive committee. The group's executive committee now includes Christian Lefevre, Chief Executive Officer…
ClassNK Announces Boardroom Reorganization
Tokyo - Japanese ship classification society Nippon Ippon Kyokai (ClassNK) has announced the following changes in its Executive Board of Directors, effective March 22, 2012. Executive Vice President Hiroshige Kitada has retired, and two executive officers, Tetsushi Agata and Tetsuya Kinoshita, General Managers of the General Affairs Department and Planning Department, respectively, have been promoted to the position of managing director. The board consists of Noboru Ueda, Chairman and President; Toshitomo Matsui, Executive Vice President; Shosuke Kakubari, Executive Vice President; Koichi Fujiwara, Executive Vice President; Takuya Yoneya, Executive Vice President; Yasushi Nakamura, Executive Vice President; Tetsushi Agata, Managing Director; Tetsuya Kinoshita, Managing Director. Dr.
Transocean Ltd. Announces Management Appointments
Transocean Ltd. announced the following management appointments, effective immediately. Ricardo H. Rosa has been named Executive Vice President and Chief Financial Officer. Prior to being named to his current position, Mr. Rosa served as Senior Vice President and CFO. Arnaud A.Y. Bobillier has been named Executive Vice President, Operations Integrity, responsible for driving continuous improvement companywide. Before being named to his current position, Mr. Bobillier served as Executive Vice President, Asset and Performance. Ihab Toma has been named Executive Vice President, Operations, responsible for global business and asset and performance. He has assumed the function of principal operating officer of the company. Before being named to his current position, Mr.
Halliburton Announces Management Changes
As a further effort to strengthen its operational efficiencies, augment its management and succession development opportunities and maximize its financial performance, Halliburton announced several changes to its executive management team. Executive Vice President and Chief Operating Officer Andrew Lane will retire effective Dec. 31, 2007. Halliburton will eliminate the COO position, and the Companyâ€™s Eastern and Western Hemisphere presidents as well as the Completion and Production, and Drilling and Evaluation Divisions now will report directly to Dave Lesar, Halliburtonâ€™s Chairman of the Board, President and Chief Executive Officer. In addition, the following executive management changes are effective Jan. * Executive Vice President and Chief Financial Officer C.
Intelsat Announce Numerous Executive Appointments.
Intelsat’s Board of Directors elected Dave McGlade, currently Deputy Chairman and Chief Executive Officer, to the position of Chairman and Chief Executive Officer, effective April 1, 2013. Mr. McGlade has served as the Company's Chief Executive Officer for eight years. Mr. McGlade has appointed Stephen Spengler to the position of President and Chief Commercial Officer, effective March 18, 2013, a new role for the Company. Mr. Spengler has been with Intelsat in various executive positions since 2003, most recently serving as Executive Vice President, Sales, Marketing and Strategy. Mr.
Global Maritime take Center Stage @ Danish Forum
The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry. Discussions at this year’s Danish Maritime Forum are influenced by volatility in global markets and uncertainties about future growth and will focus on how the maritime industry can address these challenges in both the short and long term. Other topical issues will include the New Chinese Silk Road, the global energy outlook and the future of ocean governance.
Hapag-Lloyd Ensures Continuity within Executive Management
At its meeting today, the Supervisory Board of Hapag-Lloyd AG has set the course at an early stage for maintaining continuity in the Executive Board of Germany’s largest liner shipping company. Rolf Habben-Jansen will succeed Chief Executive Officer Michael Behrendt, who is set to leave in the middle of next year. Habben-Jansen has been appointed to the Executive Board of the company with effect from April 1, 2014 and will assume the position of Chairman of the Executive Board on July 1, 2014. Habben-Jansen is a successful and experienced manager in the logistics sector. Having held positions at the Royal Nedlloyd Group and at DHL, he became CEO of the freight forwarding group Damco NV in The Hague in 2009.
Nigel Pusey Appointed Chief Commercial Officer ISS
Inchcape Shipping Services (ISS) a leading maritime services provider appoints vastly experienced industry executive to new post. Nigel Pusey has extensive senior executive experience in the shipping sector including working for P&O Nedlloyd as Chief Commercial Officer, Corporate Finance Director, as well as Managing Director of Southern Africa, also as Chief Executive Officer for The Maersk Company (UK), Senior Vice President, A.P. Moller – Maersk Group, and Non Executive Chairman of INTTRA. He will be reporting directly to Claus Hyldager, Chief Executive Officer and will be a member of ISS’ executive management team. The new position…