Pacific Green Appoints Iain Lees as CEO
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…
Ardmore Shipping Appoints Curtis McWilliams as Chairman
The US-based chemical tanker company Ardmore Shipping Corporation announced that Reginald L. Jones is stepping down as Chairman of the Board of Directors of the Company effective December 31, 2018. Curtis McWilliams has been appointed as Chairman of the Board effective January 1, 2019, said a stock exchange announcement from the company.Jones will remain as a director until the Company's annual general meeting in 2019, when he does not intend to stand for re-election. He is a co-founder and Managing Partner of Greenbriar Equity Group LLC…
NYK Introduces Its Green Bond Initiatives
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK), the first company in the global shipping industry to issue labelled green bonds, presented its initiatives at a seminar conducted by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. in Tokyo.A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.The importance of environmental, social, and governance (ESG) initiatives is getting a lot of attention in capital markets…
Greenbrier Names Tekorius EVP and COO
The Greenbrier Companies, Inc. announced that its Executive Vice President (EVP) and Chief Financial Officer (CFO), Lorie Tekorius, has been appointed EVP and Chief Operating Officer (COO) by its Board of Directors, with expanded responsibilities, continuing to report to William A. Furman, Chairman, President and Chief Executive Officer. In her newly-created COO role, Tekorius steps into leadership for Greenbrier's wheels, parts and repair operating unit and takes on additional responsibility for human resources and corporate safety & security.Rick Turner…
Stolt-Nielsen Names Grüner-Hegge CFO
Stolt-Nielsen Limited announced Jens F. Grüner-Hegge has been appointed as its new Chief Financial Officer, effective from April 2, 2018. Grüner-Hegge, who has served as Vice President, Corporate Finance since 2007, succeeds longtime CFO Jan Chr. Engelhardtsen, who will retire from his executive role and has been appointed to fill a vacancy on the company’s board of directors. With the addition of Engelhardtsen as a director, the SNL Board now has seven members, four of which are independent.
Foss Names Sumner CFO
Bryceon Sumner has joined Foss Maritime as chief financial officer, hired to oversee all aspects of the organization's financial function and performance. Sumner brings to the role years of experience gained at a number of organizations ranging from education technology and real estate, to architecture and financial services. Prior to joining Foss, Sumner served as COO and CFO for public and private companies, family offices and as a senior financial officer of a $60 billion government banking insurance fund.
WFW Advises Italian Shipowners on Partnership with Gigilinis
International law firm Watson Farley & Williams (WFW) advised three leading Italian shipowners -Rimorchiatori Mediterranei, Gesmar and Fratelli Neri – on their partnership agreement with Thessaloniki-based Greek maritime operator Gigilinis Shipping Group. The deal closed on 29 November. The deal represents a strategic milestone in Italian ship owners’ expansion into the Greek and broader Eastern Mediterranean markets, most notably into the key port of Thessaloniki. Rimorchiatori Mediterranei is the leading player in the harbour towage sector in Italy…
Harley Marine Hires Adlakha as CFO
Harley Marine Services is pleased to welcome Sterling Adlakha to its executive team where he will assume the role of Chief Financial Officer. A graduate of the U.S. Coast Guard Academy, Sterling served 10 years in the U.S. Coast Guard. He began his career as an engineer on a 210' cutter before moving to the West Coast and becoming a double-ended marine inspector and plank owner of the country's first Sea Marshal program following the 9/11 terrorist attacks. He later earned a Masters…
Braemar Acquires NAVES
Braemar Shipping Services plc announced the conditional acquisition of the entire issued share capital of NAVES Corporate Finance GmbH. Braemar is a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries. NAVES is a corporate finance advisory business focused on the maritime industry to create a new division within Braemar to be known as the Financial Division. The consideration payable…
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.
Trident Maritime Systems to Acquire Callenberg Technology Group
Wilhelmsen Maritime Services AS (WMS), a wholly owned subsidiary of Wilh. Wilhelmsen Holding ASA, said it has signed an agreement whereby technology subsidiary Callenberg Technology Group will be acquired by Trident Maritime Systems. "We have in Trident and their principal, J. F. Lehman & Company, found a strong new owner of Callenberg. Having a new owner that operates within the same technology areas creates a perfect environment for employees, customers and future growth of Callenberg with Trident," said Dag Schjerven, president and CEO of WMS.
Ince to Advise Danaos on HMM Restructuring
Ince & Co’s London and Piraeus corporate, finance and shipping teams have advised long-standing client Danaos Corporation on Korean container line Hyundai Merchant Marine Co. (HMM), Ltd.’s US$2.1 billion restructuring. New York Stock Exchange listed Danaos Corporation is a leading international owner of container ships, chartering vessels to many of the world's largest liner companies. The restructuring completed on 23rd July 2016 when HMM issued 151,292,727 new shares to creditors as part of a debt for equity swap.
Bethea Appointed Director at Blackhill Partners
Investment bank Blackhill Partners has appointed Hardin Bethea as a Director. “We have known and worked with Hardin Bethea for nearly a decade and in 2014 closed a $500 million dry bulk financing with Hardin serving in the lead role,” said Jeff Jones, Managing Director of Blackhill Partners. With more than 18 years of experience in investment banking, investment management and corporate finance, Bethea has extensive experience in the maritime and seaborne trade industry. He has invested in and advised shipping companies for more than 14 years…
ICTSI Australia Secures AUD398 Mln Loan
On July 15, 2016, Victoria International Container Terminal (VICT) signed a syndicated loan facility worth AUD 398 million (approximately USD 300 million) with seven leading global financial institutions, namely: Citibank N.A., KFW IPEX-Bank, Standard Chartered Bank as Mandated Lead Arrangers and Bookrunners, Bank of China Limited, DBS Bank Ltd., Investec Bank PLC as Mandated Lead Arrangers, and Cathay United Bank as Lead Arranger. The facility provides significant financial flexibility with long-dated tenors of 7, 10, and 16 years.
AKD to Open Office in Luxembourg
Benelux law firm AKD said it intends to open an office in Luxembourg to meet growing demand for integrated, international legal services in stable jurisdictions. AKD’s new office in Luxembourg will expand its corporate, tax, banking and finance, and investment funds practices. This step is part of AKD’s international growth strategy and allows the firm to support its clients with local offices throughout the Benelux region. With over 220 lawyers, civil-law notaries and tax advisors, AKD is the internationally focused legal and tax firm for any business dealing with the Benelux countries.
Prosafe Appoints Interim Chairman of the Board
Prosafe, owner and operator of semi-submersible accommodation vessels, informs that its Chairman, Harald Espedal, has notified the company that he will step down from his position as Chairman and Director of the Board “for work load reasons”. Prosafe’s board has accepted the resignation and appointed Glen O. Rødland as interim Chairman of the Board. Rødland, currently a senior partner at HitecVision, has 25 years experience in shipping, oil and gas and other industries, with extensive experience as an analyst and in corporate finance.
Spivak Appointed CFO, Seaspan
Seaspan Corporation announced today that David Spivak is joining the Company as its Chief Financial Officer, starting May 2, 2016. Mark Chu will continue to serve as interim CFO until David's arrival, whereupon Mark will continue in his current roles as Vice President, Corporate Development and General Counsel. David has over 20 years of corporate finance and global capital markets experience. From 1995 to 2012, he worked at Citigroup, serving in various roles, including as a…
Shipping Lawyer, Lovell Joins Reed Smith
Global law firm Reed Smith has announced the arrival of market-leading admiralty and casualty response lawyer, Richard Lovell, as a partner in the firm’s Singapore office. Richard joins Reed Smith from Ince & Co, where he was head of shipping and managing partner of the firm’s Singapore office. Richard has almost 30 years’ experience as an admiralty and marine insurance practitioner in Asia. He joins Reed Smith to head a highly experienced Singapore team of casualty lawyers (including two senior ex-mariners) handling a wide range of marine casualties and offshore oil and gas matters.
Dana Gas Announces New Senior Management
Dana Gas PJSC, a publicly listed natural gas company in the Middle East, has announced several key senior management appointments. Chris Hearne was appointed as the Chief Financial Officer of the company on January 4, 2016. Prior to joining Dana Gas, Hearne was with Serica Energy plc, an international oil exploration and production company listed on the AIM market in London, where he served as Chief Financial Officer and Director from 2005. Hearne has over 20 years’ experience within the oil industry having been CFO and Senior Vice President of Erin Energy…
Chinese Shipping to Face Wave of Bankruptcies
The Shanghai International Shipping Institute (SISI) predicts a surge in bankruptcies within China's dry bulk shipping industry, Reuters reports. The overall business climate in China continues to deteriorate and dry bulk shipping companies, being hit the hardest, are likely to be swept by a new wave of bankruptcies. The institute basis its prediction on a survey of 50 of the country's biggest dry bulk shipping lines, which found that over 60 percent are struggling with long-term losses and 40 percent are facing liquidity problems.
Crowley Promotes VP and Deputy General Counsel
Crowley Maritime Corporation announced today that Kerri McClellan has been promoted to vice president and deputy general counsel for the corporation. McClellan, who is based in Jacksonville and reports to Senior Vice President and General Counsel Mike Roberts, joined Crowley approximately two years ago as senior corporate counsel and assistant corporate secretary and has excelled at corporate governance and transactional work among other legal areas, the company said. “Kerri has been a tremendous partner in the legal department…
Intermarine Promotes Corporate Finance Director
Project, breakbulk and heavylift cargo transporter Intermarine, LLC reports it has promoted Chad Call to Director of Corporate Finance. Call will continue to report to Michael Dumas, Executive Vice President and Chief Financial Officer. In this new role, Call will be responsible for managing the company’s banking relationships, corporate financial analysis, forecasting and financial reporting. Call joined Intermarine in 2010, where he previously served as Intermarine’s Manager of Financial Planning and Analysis.
Sulzer Appoints Dittrich as Interim CEO
The Board of Directors of Sulzer was surprised to hear of Klaus Stahlmann's personal decision to step down as CEO of Sulzer AG. The Board of Directors acknowledges Mr. Stahlmann's contribution to Sulzer's realignment, but in the interests of maintaining clarity and focus on the management of the company it has released Mr. Stahlmann with immediate effect. The Board of Directors appointed the CFO of Sulzer, Thomas Dittrich, in addition to his duties as CFO to the Group’s interim CEO, also with immediate effect.
BSM Appoints CFO and New HR Marine Director
Bernhard Schulte Shipmanagement (BSM) has recently announced the appointment of a new Chief Financial Officer, Sebastian Graf von Hardenberg. Responsible for the organization’s global financial operations, he is based in Limassol, Cyprus. Graf von Hardenberg brings with him extensive experience in the financial, corporate finance and risk management fields. Having previously served as Financial Director of BSM Germany in Hamburg, Executive Assistant to the Chief Executive Officer at BSM in Hong Kong and Corporate Director Risk Management of BSM in Singapore…
Swedish Club Names New CFO
The Swedish Club announced the appointment of a new Chief Financial Officer, Mikael Kromli, who will take up the position on June 15, 2015 and will be based in Gothenburg. Kromli, a Swedish national, brings with him experience in the corporate finance field, especially in the areas of investor relations, treasury and risk management in the insurance sector. A past CFO in Sweden’s Volvo Group and at TitanX, Kromli has also worked as CFO at Nobel Biocare, at the time a listed company on the Stockholm Stock Exchange.
Marsh to Take Over as Lloyd’s Register CEO
Alastair Marsh, current CFO at the Lloyd’s Register Group Ltd. (LR), has been appointed as the successor to CEO Richard Sadler who has decided to step down at the end of 2015. Sadler will pass the CEO role to Marsh on October 1, 2015 and commence a formal handover period until the end of December 2015. Simon Nice, currently Group FP&A Director, will take up the role of Interim Group Financial Director during the transition. Following Sadler’s decision to step down as CEO, the LR board of directors conducted a six-month internal and external review of potential successors…