Finance Department News

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels,  influential administrations seek to accelerate towards net-zero or even zero by 2050.

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels, influential…

Transhipment Services Australia (TSA) has ordered a transshipment crane barge from shipbuilding group Damen, who says it will be able to deliver the new the Crane Barge 6324 directly from stock to fulfil the order in a period of only four weeks.TSA has been contracted by Metro Mining to provide transshipment services for its Bauxite Hills Project located along the Skardon River on Cape York Peninsula, north of Weipa in Far North Queensland. With a presence in three sites across Australia…

GTT, a French company designing LNG tanks for gas carriers and cargo ships, has named Virginie Aubagnac its new Chief Financial Officer. With nearly 20 years of experience in finance, she joined GTT in April 2021 as Special Advisor to the Chairman. She succeeds Marc Haestier, who will leave the Group to retire.A graduate of HEC Paris, Virginie Aubagnac began her career in the Finance Department of Rallye, and then became project manager for the Deputy Managing Director of the same company. She then joined the Strategy and Planning Department of the Casino Group.

Iceland-based shipping and logistics firm Eimskip has appointed María Björk Einarsdóttir as CFO, to take over from Egill Örn Petersen, who has decided to resign due to personal reasons. Egill Örn Petersen, who has been the CFO of Eimskip since the beginning of 2019, will take another position within the finance department.María Björk Einarsdóttir has, for the last seven years, been the Managing Director of Alma íbúðafélag (previously Almenna leigufélagið) one of the largest real-estate companies in Iceland which she has led from its foundation. She has a B.Sc. degree in Engineering Management, majoring in finance, from Reykjavík University and she is a licensed securities broker.

He has decades of experience in the maritime sector and now works as a maritime consultant for Shipbuilder. André Zijderveld: “In all those years in the maritime sector, I have seen the financial departments in the maritime sector working with beautiful ERP programs. However, it is a misconception that you can manage an entire shipbuilding or yacht building project with it. To my surprise people are still trying to do that though, with all the mistakes that come along. That must…

Norwegian shipbuilding and technology group Havyard will appoint Erik Høyvik as CFO in Havyard Group from August 1, 2020.Havyard, which designs and builds various types of vessels, including those used in the offshore energy industry, said its current CFO Pål Aurvåg, would start in a new role in the company in August. Havyard did not provide details on this new role.As for the new CFO, he will join the company from a position as CEO in Nils Sperre AS, one of Norway's leading suppliers of pelagic fish…

The founder and director of Singapore oil-trading company Hin Leong Trading Pte Ltd (HLT) directed the firm not to disclose hundreds of millions of dollars in losses over several years, he said in a court filing reviewed by Reuters.The affidavit signed by Lim Oon Kuin, a Singaporean in his 70s widely known as O.K. Lim, is part of a Friday filing to the Singapore High Court by HLT and subsidiary Ocean Tankers (Pte) Ltd, seeking a six-month moratorium on debts of $3.85 billion to 23 banks.The filing cites a collapse in the oil price and the coronavirus pandemic…

Domestic and international lenders are vying for a slice of Japan’s nascent offshore wind power sector, which is expected to provide as much as ¥3trn (US$29bn) in project financing opportunities, albeit at very low margins.Akita Offshore Wind completed the nation’s first fundraising for a major offshore wind project last month, raising ¥80bn to build wind turbines near two ports in western Japan.Auctions for sites off Japan's shores are due to kick off in April, and lenders are…

Pacific Green Technologies has announced the  appointment of Iain Lees as Chief Operating Officer to support company growth initiatives around proprietary emission control systems for marine vessels.The owner of the ENVI-Marine and ENVI-Clean Exhaust Gas Scrubbing Systems said in a press note that Lees joins the Company from HannawayCA Corporate Finance Limited (HCACF), a leading financial and business advisory firm in Northern Ireland where he has served as Managing Director since January 2017.Pacific Green CEO Neil Carmichael said: “We are proud to welcome a senior executive of Iain’s caliber to the Pacific Green management team. Iain has deep expertise leading key aspects of a variety of organizations including extensive work with energy projects.

Volvo Penta of the Americas has appointed Martin Bjuve as vice president for customer support and training. In this position, he will provide strategic direction and management for support and product training for dealers and customers across the U.S., Canada, Mexico, Central America and the Caribbean. Bjuve has served as vice president and chief financial officer at Volvo Penta of the Americas since 2013. In addition to his responsibilities in the finance department, Bjuve has led key manufacturing investment projects in the Americas.

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship finance as well as the challenges it currently faces. His successor Holger Apel casts a glance into the future. Carsten, KfW IPEX-Bank is once more stepping up its presence at SMM. Why? SMM is increasingly becoming a platform for topics beyond technology, such as environmental regulation or market intelligence. We meet with experts of the shipbuilding and manufacturing industry to discuss how to support their sales efforts.

China Cosco Holdings has appointed Deng Huangjun as its new chief financial officer, after his predecessor Tang Runjiang resigned. Deng, 53, is also a director and deputy managing director at Cosco Pacific. Tang Runjiang has resigned with effect from 14 March 2016 due to change in job arrangement, informs a statement from the company. Tang Runjiang has confirmed that he has no disagreement with the Board, and there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company. The Company expresses its sincere gratitude to Tang Runjiang for his valuable contributions as chief financial officer of the Company during his term of office.

Danish dry cargo and tanker shipping company Dampskibsselskabet Norden A/S informs it has combined a number of management functions in order to reduce its executive management team from five to three members. “With the changes we are consolidating a number of functions creating a more streamlined organization,” Norden CEO Jan Rindbo stated in a press release. Effective immediately, Norden’s new plan sees the executive management team trimmed down to CEO Jan Rindbo, CFO Martin Badsted and executive vice president Ejner Kiel Bonderup.

Accounting and consulting network Moore Stephens inform that as part of the UK government’s continuing aim to attract new companies to the UK to create growth and jobs, significant changes have been made to the tax rules over the last few years to encourage research and development (R&D) activities and valuable corporation tax reliefs are available to companies undertaking such activities. It is often the case that companies incorrectly view the R&D tax reliefs as only being available to ‘traditional’ R&D industries, such as pharmaceuticals and medicine. However, R&D relief is not restricted to particular industries. It is available to all companies provided the activities undertaken are qualifying R&D activities.

The newly opened Dubai office of worldwide bunker trading company, A/S Dan-Bunkering Ltd., has been open for a few months, and according to the bunker trader has already been very well received in the market. The company reported it has recently hired two new employees. Rijo Alias has been employed as Finance Manager as per July 2, 2013. Rijo is originally from India and has several years of audit experience from a well-reputed company in Dubai. Azeneth B. Sallador has been employed as Accountant/Sales Supporter as per July 9, 2013.

TOTE Logistics Inc. parent company of Carlile Transportation Systems announced several new company positions. John Armstrong has accepted the Vice President, Logistics position for Carlile Transportation Systems, Inc. John joins Carlile from sister company Alta Logistics, where he was the Director of Logistics. John has leadership, operations and logistical supply chain management experience. John is familiar with both the Alaska and Pacific Northwest Markets, having worked in Alaska for many years.

Linda Leary has accepted the Vice President, Commercial Development position with TOTE Logistics, Inc., Carlile’s parent company. Linda’s new role will be overseeing the Sales and Marketing Department of Carlile, TOTE Logistics, Inc. and Spectrum. Linda will continue to build revenue with current customers and seek new opportunities to continue the positive growth on a much broader logistical scale; maintaining several key accounts and remaining heavily involved in community relations.

China’s shift towards a domestic consumer demand-oriented economy could provide a significant boost to the global shipping industry, as the world’s second largest economy targets more sustainable growth. “2013 will be another peak year of new vessel deliveries. Oversupply of capacity is still an obstacle for the shipping industry to overcome, but with the improvement of the world economy, the shipping sector is expected to experience moderate growth,” said Mr Xu Lirong, President of China Shipping (Group) Company. Mr Xu will examine this key issue affecting China, and the nation’s pivotal position in the international maritime arena, in a conference summit at Sea Asia, the region’s leading maritime event, in Singapore next April.

First Argentinian-owned Damen ASD 2810 tug arrives in Buenos Aires. Argentinian towage and harbour company Remolcadores Unidos Argentinos (RUA) has just taken delivery of the ‘RUA Cap. Lucio R’, a Damen ASD 2810 tug. Although Damen’s tugs have operated in Argentina before, this vessel is the first time a Damen tug is owned by an Argentinian company. Established in 1967 and based in Buenos Aires, RUA has a seven-strong fleet of vessels with a smaller bollard pull than the ASD 2810 newbuild.

Copenship Implements Veson's Software to Handle Chartering And Operations; Microsoft Navision And IMOS Financials Integrated To Manage Accounting Functions. Veson Nautical, the premier provider of maritime commercial management and trading software solutions, today announced that Copenship A/S, a privately-owned international shipping company with more than 60 vessels on time charter, has gone live with Veson Nautical’s Integrated Maritime Operations System (IMOS). Built around the way people work…

Classification society ClassNK has announced that it will reorganize its Board of Directors as part of a larger corporate reorganization, effective July 1, 2011. As part of the reorganization, ClassNK’s four current Managing Directors -- Shosuke Kakubari, Koichi Fujiwara, Takuya Yoneya, and Yasushi Nakamura -- will be promoted to Executive Vice Presidents and take up positions alongside current Executive Vice Presidents Hiroshige Kitada and Toshitomo Matsui. In addition to the promotion of the four executives, ClassNK will also establish a new second tier of Operating Officers who will oversee the day to day operations of the 110 year old classification society. ClassNK General Affairs Department General Manager T. Agata, Finance Department General Manager M.

CMA CGM is pleased to announce the appointment of Mathieu FRIEDBERG to the position of General Manager of DELMAS, effective July, 1st, 2011. A graduate of the Institut d’Etudes Politiques of Paris, Mathieu Friedberg has been successively *    Financial Auditor with Coopers & Lybrand.  *    Controller in the Finance Department at CMA CGM *    Administrative Director for DELMAS.   Mathieu Friedberg will report to Rodolphe Saadé, Executive Officer of CMA CGM Group and Chairman of DELMAS.   Source: CMA CGM