Hans Feringa News

Bermuda-based global shipping company Team Tankers International finalized the sale of the last two of its five older medium range (MR) tankers.Team Tankers has managed to free up a funds for new investments after divesting MR tankers, said CEO Hans Feringa.Feringa said: “We finalized the sale of the last two of our five older MRs at attractive levels, concentrating our efforts on our younger, more sophisticated, deep sea assets. With the sale of the older MRs and certain intermediate ships, we have freed up capital for investment activity and positioned ourselves for 2020 with a more focused deep sea fleet. ""The divested asset prices in this quarter are at price levels well above what is implied by the 3rd quarter traded share prices, further proving value for our shareholders.

Team Tankers International, the owner and operator of chemical tankers for the seaborne transportation of liquid chemicals worldwide, announced that Kevin Kilcullen has resigned his post as chief financial officer (CFO)."Kevin Kilcullen today tendered his resignation as Chief Financial Officer of Team Tankers International to pursue another professional opportunity," said a press release from the shippig company.The resignation will take effect on April 17, 2019 and he will continue with the Company until that date to ensure an orderly transition.Jens Gisle Schnelle, currently Head of Financial Planning and Analysis, will be promoted to acting Chief Financial Officer of the Company as of April 18, 2019, succeeding  Kevin Kilcullen.Mrs.

Bermuda-based chemical tanker company Team Tankers International managed to return to profitability in the second quarter of 2018,  as 14 new ships from recent acquisitions boosted earnings.The company posted a net income of USD 4.4 million in Q2 2018, compared to a net loss of USD 7.3 million in Q1 2018 and a net loss of USD 7.1 million in Q2 2017.The average time charter equivalent rate for the fleet was $11,316 per day this quarter, compared with $10,610 per day in the previous quarter.Team's CEO, Hans Feringa, said "We have successfully integrated the Team and Laurin operations and have established commercial and operational hubs in Copenhagen, Houston and Singapore.

Team Tankers CEO, Hans Feringa, has resigned from the board of directors at Dampskibsselskabet NORDEN A/S following Team Tankers’ acquisition of a potential competitor to NORDEN’s tanker business. Team Tankers announced on Wednesday that it acquired Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd. “To avoid any conflicts of interest Hans Feringa has decided to resign from the Board at NORDEN,” said NORDEN’s board chairman, Klaus Nyborg. NORDEN said its board will initiate a search for suitable replacement candidate(s).

Team Tankers International announced that it has entered into share purchase agreements to acquire all outstanding shares in each of Laurin Shipping and Anglo-Atlantic Steamship Company. In combination with associated ship purchases, the total estimated enterprise value of the series of transactions is approximately $206 million. Upon completion of the transactions, Team Tankers will grow its fleet from 37 to 52 vessels. With the acquisition of Laurin Shipping, trading under the Laurin Maritime brand, Team Tankers adds a leading medium range tanker (MR) operator with commercial and technical expertise to the Company's robust chemical tanker platform.

Team Tankers International Ltd. (TEAM) said that the company has agreed to sell the Tour Margaux (8,674 dwt, built 1993). The transaction closed and the ship was delivered to the buyer in July. The vessel is classified under Vessels Held for Sale as of June 30, 2017. Subsequent to the quarter, the Company sold the Sichem Dubai (12,888 dwt, built 2007) immediately prior to its upcoming special survey. To replace the capacity, the Company time chartered the Leon M (12,959 dwt, built 2008) in July. The net loss for the 2nd quarter of 2017 was $7.1 million, compared with a net loss of $6.6 million in the 1st quarter of 2017 (Q2'16 net loss: $4.4 million).

Team Tankers International (TTI) completed the acquisition of the ‘Sichem Amethyst’ and ‘Sichem Contester’, previously on timecharter in the Q4 2015. In addition, two of the company's older and smaller ships were sold. To continue to build up its European regional stainless steel fleet, Team Tankers agreed to acquire the ‘Southern Zebra’, a 8,900 dwt stainless steel chemical tanker. Delivery is expected in March, 2016. In 4Q15, the company took delivery of an IMOII MR on a one-year timecharter. “As part of our growth strategy in the regional coated ship class, the company acquired two ships, and took delivery of two ships on time charter in this class subsequent to quarter end,” TTI further added.

Team Tankers International Ltd has appointed Hans Feringa as new President and CEO. Feringa is the former President of Stolt Tankers, a division of Stolt-Nielsen Limited. He succeeds Jens Grønning, who has left the Company. "Under Jens' leadership, Team Tankers completed a comprehensive financial restructuring and established a solid operational model," said Morten Arntzen, Team Tankers Executive Chairman. "We are delighted that Hans will now be leading Team Tankers as the company focuses on growth and expansion. Hans brings unequalled industry experience and an outstanding track record of success. His insights and experience will drive Team Tankers' strategy to excel at serving our clients and their markets in the years ahead," he added.

Stolt-Nielsen announced that Hans Feringa has been appointed President of Stolt Tankers & Terminals as of December 1, 2007. Hans Feringa will succeed Otto Fritzner, who will be retiring, as planned, from the Company at the end of the year. Hans Feringa has been Managing Director of Tanker Trading at Stolt Parcel Tankers Division since 2003. Prior to this he was Managing Director of Stolthaven Terminals Division (2000 to 2003) and Asia Pacific Regional Director, Stolthaven Terminals Division (1996 to 2000). Before joining Stolt-Nielsen S.A. in 1996, he was Commercial Director of Van Ommeren's Tank Terminal at Botlek, Rotterdam. He gained an MBA in 1987 from Rotterdam School of Management, Erasmus University prior to joining Van Ommeren.

Stolt-Nielsen S.A. said that Hans Feringa has been appointed President of Stolt Tankers & Terminals as pf December 1, 2007. Hans Feringa will succeed Otto Fritzner, who will be retiring, as planned, from the Company at the end of the year. Feringa has been Managing Director of Tanker Trading at Stolt Parcel Tankers Division since 2003. Prior to this he was Managing Director of Stolthaven Terminals Division (2000 to 2003) and Asia Pacific Regional Director, Stolthaven Terminals Division (1996 to 2000). Before joining Stolt-Nielsen S.A. in 1996, he was Commercial Director of Van Ommeren's Tank Terminal at Botlek, Rotterdam. He gained an MBA in 1987 from Rotterdam School of Management, Erasmus University prior to joining Van Ommeren.