Industry Leaders Elected To ABS Membership
Sixty-Nine prominent shipping industry executives have been elected as new members of ABS. In addition, Rear Admiral David L. Brewer III, Commander, Military Sealift Command, U.S. Navy, was appointed as a member. This brings the ABS worldwide membership to 803. The members, each eminent in their maritime field of endeavor, provide broad governance and oversight of ABS. Members are drawn from various sectors of the marine, offshore and related industries worldwide. M.A. Marcelo P. S.A. Ghazi A. Al-Ibrahim, President, Mideast Shipmanagement Ltd. Giovanni Barbaro, Owner, Pietro Barbaro S.p.A. S.p.A. Giuseppe Bottiglieri, Managing Director, Bottiglieri Di Navigazione, S.p.A. Jae Cheol Byun, President, JSM International Ltd. Dr. Mauro Fernando Orofino Campos, President, Petroleo Brasileiro S.A.
Pacific Carriers Is Propositioned by Hovert Investments
Hovert Investments Pte Ltd, a unit of Kuok (Singapore) Ltd, has made an unconditional offer for the shares of shipping company Pacific Carriers Ltd. Hovert accumulated a controlling stake of 56.56 percent on Friday, paying an offer price of S$1.25 per share for 152.7 million shares and an enhanced offer price of S$1.40 per share for 16.8 million shares at the close of business. Although the unconditional offer was at S$1.25 per share, Hovert paid $1.40 per share for the stake of shareholders "presumed to be acting in concert with the offerer" in its takeover bid for PCL.
