Giaever to Take Over as CFO at NAT, NAO
Bjorn Giaever will take up his position as the new chief financial officer (CFO) at Nordic American Tankers Limited (NAT) and Nordic American Offshore Ltd. (NAO) from October 16, 2017. Giaever joins NAT/NAO from maritime focused investment bank Fearnley Securities AS, where he served as a director and partner in the Corporate Finance division. Giaever has served as a corporate advisor in the John Fredriksen group in London, top rated Senior Shipping Analyst in DNB Markets and partner in Inge Steensland AS, specializing in gas related maritime matters. Outgoing NAT/NAO CFO, Turid M. Sorensen, will leave her administrative duties before the end of 2017. She will be suggested as board member of NAT.
Nordic American Appoints New CFO
Nordic American Tankers (NAT) and Nordic American Offshore (NAO) has appointed Bjørn Giaever (50) as Chief Financial Officer (CFO). He is expected to join us later this year and as early as possible. Giaever joins NAT/NAO from the well reputed firm of Fearnley Securities AS with main office in Oslo, Norway. This is an investment bank with special focus on the maritime sectors, where he served as a director and partner in the Corporate Finance division. Giaever has more than 20 years of experience in the shipping industry, holding key roles in corporate finance and equity research. In addition to having worked as investment banker towards the shipping & offshore industry for the past seven years…
Frontline bids for General Maritime
Bloomberg has reported that shares of General Maritime Corp., the second-largest US oil-tanker owner, may not rise much further after Bermuda-based Frontline Ltd. raised its stake in the company and said it would seek talks to combine the businesses, JPMorgan Chase & Co. said.General Maritime’s shares are trading at 12 percent more than $36.70, which is JPMorgan’s estimated net asset value for the company at the end of 2006, analysts Jonathan Chappell and Glen Muller said in a report last week. Net asset value is the market value of the company’s vessels less debt. A takeover of General Maritime would be the biggest ever in the oil-tanker industry, based on today’s valuations.
