Morten Arntzen News

Gary Vogel, chief executive officer of Eagle Bulk Shipping Inc., has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2022.The 2022 Commodore Award, given each year to a person in the international maritime industry who has contributed to the growth and development of the industry, will be presented on March 31, at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and expo, in Stamford, Conn..Vogel has served as CEO and director of Eagle Bulk Shipping Inc. (NASDAQ: EGLE) since September, 2015.

Award to be presented March 14, 2018 at the conclusion of the CMA’s Shipping 2018 Annual Conference and Exposition. Ms. Sabrina S. M. Chao, Executive Chairman of Wah Kwong Maritime Transport Holdings Ltd. has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2018. Ms. Chao follows a long succession of influential maritime industry leaders as Commodore. The 2018 Commodore Award will be presented on March 14, 2018 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, USA. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry.

This morning CMA announced that Mr. John D. “Jack” Noonan, CEO of Chembulk Tankers, has been named as the CMA Commodore for the year 2017. Noonan joins a presigious list of previous award winners, including Ole Skaarup, Jacob Stolt-Nielsen, George Livanos, Phil Loree, Thomas Moran, Gregory Hadjieleftheriadis, Helmut Sohmen, Gerhard Kurz, William O’Neil, Richard du Moulin, Per Heidenreich, Marc Saverys, Frank Tsao, Stelios Haji-Ioannou, Peter Georgiopoulos, C. Sean Day, Torben Jensen, Morten Arntzen, John Fredriksen, Capt.

Award to be presented March 23, 2016 at the conclusion of the CMA’s Shipping 2016 Annual Conference and Exposition. Mr. Paddy Rodgers, CEO of Euronav NV has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2016. Rodgers follows a long succession of influential maritime industry leaders as Commodore. The 2016 Commodore Award will be presented on March 23, 2016 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, USA. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry.

Overseas Shipholding Group Inc investors have reached $16.25 million in settlements with the executives, underwriters and an auditor of the tanker company in a lawsuit related to its 2012 bankruptcy and tax problems. Company directors and officers, including former Chief Executive Morten Arntzen and former Chief Financial Officer Myles Itkin, agreed to pay $10.5 million, papers filed in Manhattan federal court on Thursday showed. Underwriters including Citigroup Inc, Deutsche Bank AG and Goldman Sachs Group Inc will pay $4 million, while accounting firm PricewaterhouseCoopers LLP will pay $1.75 million. "We're think its an extraordinary result in an extremely complex case," David Rosenfeld, a lawyer for the plaintiffs, said on Friday.

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.

Capt. Panagiotis N. Capt. Panagiotis N. Tsakos, Founder of the Tsakos Group, has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2015. The award, given each year to a person in the international maritime industry who has contributed to the growth and development of the industry, will be presented on March 25, 2015 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut. Captain Tsakos has dedicated his life to the sea, to the welfare of the people at sea, to caring for and protecting the environment and building a successful commercial shipping company.

Robert Bugbee, President of Scorpio has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2014. Mr. Bugbee follows a long succession of influential maritime industry leaders as Commodore. The 2014 Commodore Award will be presented to Mr. Bugbee on March 19, 2014 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, U.S. The Award is given…

Shipping luminaries gathered recently in New York to discuss issues and recognize achievements at the 2013 North American World Maritime Day and NAMEPA (North American Marine Environment Protection Association) Marine Environment Protection Awards Dinner. “NAMEPA was honored to host this annual event, and gratified by the interest and participation at the highest levels of shipping in our industry” stated NAMEPA Chairman Clay Maitland. Topics covered in the day’s conference included promoting a safety culture and environmental stewardship…

Clay Maitland, Chairman of the North American Marine Environment Protection Association, announced that Morten Arntzen will moderate the Risk Management panel at this year’s North American World Maritime Day Observance being held on October 30th aboard the Hornblower Infinity in New York. This annual event explores this year’s World Maritime Day theme of Sustainability and will include a risk management roundtable featuring industry leaders such as Peter Evensen of Teekay, Phillip Shapiro of Liberty Maritime…

Overseas Shipholding Group announce the appointment of Captain Robert Johnston as President & CEO. Morten Arntzen has resigned as President and Chief Executive Officer and as a director of the Company to be succeeded by Johnston. Captain Robert Johnston will serve as the President and Chief Executive Officer of the Company effective immediately. He was previously the Senior Vice President and Head of U.S. Flag Strategic Business Unit. “The Board thanks Morten Arntzen for his service, including during recent challenging times,” said Michael J.

Award to be presented March 20, 2013 at the conclusion of the CMA's Shipping 2013 Annual Conference and Exposition. Mr. Peter Evensen, President and Chief Executive Officer (CEO) of Teekay Corporation (Teekay) has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2013. Mr. Evensen follows a long succession of influential maritime industry leaders as Commodore. The 2013 Commodore Award will be presented to Mr. Evensen on March 20, 2013 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, USA. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry.

Overseas Shipholding Group, Inc. starts Chapter 11 process to reduce debt & other financial obligations to create more solid financial foundation. The Chapter 11 petition for itself and certain operating subsidiaries was filed in the U.S. Bankruptcy Court for the District of Delaware. Certain subsidiaries, including those that manage the Company’s facilities in Manila, Singapore, Greece, London and Newcastle, have not filed for Chapter 11 reorganization. A complete list of the OSG entities which filed, and those which did not file, Chapter 11 petitions, is available at www.kccllc.net/osg. OSG intends to work with its constituencies to emerge from bankruptcy as quickly as possible while maintaining the company’s market position, business model and strategy.

Overseas Shipholding Group, Inc. has announced that a new service agreement has been signed with Maersk Oil Qatar AS ("MOQ") for FSO Africa, a floating storage and offloading service vessel (FSO) jointly owned by OSG and Euronav N.V. (Euronext Brussels: EURN). The new agreement, which supersedes the previous FSO Africa contract, has a firm term of five years commencing October 1, 2012 and provides MOQ with an extension option for an additional term of either one or two years. In addition to the extension of the minimum contract term by over four years, the new agreement provides for an increase in the daily hire rate earned in each firm contract year to the same daily hire rate schedule as for the existing MOQ service contract for FSO Asia, its sister vessel.

Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader in providing energy transportation services, announced that its Board of Directors has suspended the payment of regular quarterly dividends. No dividend will be paid in the first quarter of 2012. Commenting on the dividend suspension, Morten Arntzen, President and Chief Executive Officer, stated:  "The downturn in our international flag markets has been deeper and has lasted longer than we anticipated, as evidenced by a fairly tepid winter market. At the same time, economic uncertainty in the world persists and the banking markets have become more challenging. Therefore, to preserve liquidity and maintain financial flexibility, the Board suspended the quarterly dividend until further notice.

Øivind Lorentzen, III, CEO of SEACOR Holdings Inc. has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2012. Mr. Lorentzen follows a long succession of influential maritime industry leaders as Commodore. The 2012 Commodore Award will be presented to Mr. Lorentzen on March 21, 2012 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford,  Conn. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry. Lorentzen has served as CEO of SEACOR Holdings Inc. since September 2010.

Focus on the Bulk Sectors – Facing a Crisis or Ample Opportunities? The Sea Asia conference focused on the bulk markets this afternoon with a lively debate among panelists on where the tanker and dry bulk shipping markets are heading. The session was the highlight of the afternoon’s proceedings which followed on from the opening session on container market trades this morning. The show, which articulates the Voice of the Asian maritime communities, has captured the imagination of the global shipping community.

Angeliki Frangou, Chairman & CEO of the Navios group of companies has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2011. Frangou follows a long succession of influential maritime industry leaders as Commodore. The Award will be presented to Frangou on March 23, 2011 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry.

Overseas Shipholding Group, Inc. reported net income for the quarter ended March 31, 2004 of $76,188,000, or $1.99 per share, an increase of 72% compared with net income of $44,235,000, or $1.28 per share, in the first quarter of 2003. $94,216,000 in the first quarter of 2003. Morten Arntzen, President and Chief Executive Officer of OSG. "Strong charter rates for VLCCs and Aframaxes, which commenced in October 2003, prevailed throughout the first quarter and have continued into the second quarter. We have already fixed approximately 56% of VLCC open days and 52% of Aframax open days in the second quarter. "Expanding in our areas of strategic focus, we have acquired two U.S.

Overseas Shipholding Group, Inc. has purchased and taken delivery of two 50,000-deadweight ton U.S. Flag product tankers from Attransco, Inc. The two double bottom vessels, the S/R Galena Bay and the S/R Puget Sound, were built in 1982 and 1983, respectively, and currently are on bareboat charter to SeaRiver Maritime, Inc., a subsidiary of ExxonMobil. "This acquisition demonstrates OSG's commitment to expand its U.S. Flag business. In light of the anticipated decline in Jones Act product tanker tonnage expected over the next few years, OSG continues to explore various options to increase its participation in this trade," said Morten Arntzen, OSG's President and Chief Executive Officer.

The Board of Directors of Overseas Shipholding Group, Inc. (OSG) announced the appointment of Morten Arntzen as the company's new President & CEO. Mr. Arntzen, who last served as CEO of American Marine Advisors, Inc., a U.S. based merchant banking firm specializing in the maritime industry, has extensive experience in the international shipping business. Arntzen, 48, will succeed OSG's long-time CEO, Morton P. Hyman, who recently retired at the end of this year. "I am honored and excited to assume the leadership of OSG, one of the world's premier tanker companies," said Mr. Arntzen. "Under the leadership of Mort Hyman, the Company has modernized its fleet, streamlined its operating cost structure and strengthened its balance sheet.

The Board of Directors of Overseas Shipholding Group, Inc. (OSG) today announced the appointment of Morten Arntzen as the Company's new President & Chief Executive Officer. Mr. Arntzen, who currently serves as Chief Executive Officer of American Marine Advisors, Inc., a U.S. based merchant banking firm specializing in the maritime industry, has extensive experience in the international shipping business. Mr. Arntzen, 48, will succeed OSG's long-time CEO, Morton P. Hyman, who will retire at the end of this year. "I am honored and excited to assume the leadership of OSG, one of the world's premier tanker companies," said Mr. Arntzen. "Under the leadership of Mort Hyman, the Company has modernized its fleet, streamlined its operating cost structure and strengthened its balance sheet.

Mr. Robert D. Somerville, Chairman and Chief Executive Officer of ABS has been named as the Massachusetts Maritime Academy 2009 Maritime Person of the Year. Each year Massachusetts Maritime Academy selects a civilian or military leader who has distinguished him or herself through a career of excellence, innovation, and service to the maritime industries. The honoree is presented with the Captain Emery Rice Medal, named for an 1895 Academy graduate and hero of the First World War. The award will be presented to Mr. Somerville on November 6, 2009 at the 15th Annual Admiral’s Ball, being held at the InterContinental Hotel in Boston, Massachusetts. The Admiral’s Ball is the Academy’s largest annual fundraiser.