Trafigura Names Richard Holtum CEO
helped gas and LNG desk profit rise to unprecedented levels.Prior to joining Trafigura, Holtum worked on rival trader Glencore's crude oil desk. He began his career in the British army.Outgoing CEO Jeremy Weir, who held the position for over 10 years, will take up the role of group chairman on Jan 1.Reuters exclusively reported in April that Weir had begun priming Holtum to take the helm."The Board of Directors unanimously selected Richard Holtum to lead the Trafigura Group," independent non-executive director Sipko Schat said.The announcement is the second organisational reshuffle in Trafigura
Trauma from Red Sea Attacks Adds to Seafarer Shortage
ship management and crewing companies, said their managed fleet's crossings have declined since the beginning of the conflict.He said in the instances where their ship owner clients have opted to sail through, "we give our seafarers the opportunity to not proceed and we can change crew."(Reuters - Reporting by Renee Maltezou and Jonathan Saul; Additional reporting by Neil Jerome Morales and Yannis Souliotis; Editing by Edward McAllister and Peter Graff
Royal Caribbean Recruiting Thousands to Meet Surging Demand
the Caribbean and Latin America as new ships are deployed across the industry, according to the Florida-Caribbean Cruise Association, a trade organization. Tourism boards and ports said one of the major challenges is educating potential candidates about a career at sea to meet industry labor demand.(Reuters - Reporting by Doyinsola Oladipo; Editing by Nick Zieminski
Australian Submarine Maintenance Facing Possible Disruption Due to Workers Strikes
;s submarines even as it prepares to build the nuclear-powered AUKUS fleet.Roughly 300 workers at ASC's Osborne shipyard in South Australia walked off the job for an hour on Monday, and a separate meeting of union members voted to continue some form of strikes indefinitely, a union official told Reuters.Osborne is where ASC and British firm BAE Systems will jointly build Australia's fleet of nuclear-powered submarines, the core component of the 2021 AUKUS pact between Britain, the U.S. and Australia.Until that work begins later this decade, the shipyard is where lengthy maintenance is performed
Recruiter to Cooperate in Deal with Workers Suing Major US Shipbuilders
Court for the Eastern District of Virginia, No. 1:23-cv-01372.For plaintiffs: Steven Toll of Cohen Milstein Sellers & Toll; Shana Scarlett of Hagens Berman Sobol Shapiro; and George Farah of Handley Farah & AndersonFor Faststream: Nathan Eimer of Eimer Stahl and Lynn Brugh of Williams Mullen(Reuters - Reporting by Mike Scarcella
Orsted Appoints CFO, Head of Operations
, who has acted as interim CFO since November will return to his position as CEO of Europe region by the end of March, Orsted said.After plunging to a seven-year low last year, Orsted's shares have risen by 50% since November.On Tuesday the stock was off 0.9% at 374.3 Danish crowns as of 0944 GMT.(Reuters - Reporting by Louise Breusch Rasmussen; editing by Clarence Fernandez and Jason Neely
BP Set to Name Thomson Permanent CFO
BP is set to confirm Kate Thomson as its permanent chief financial officer after naming Murray Auchincloss as CEO last week, completing a leadership reshuffle following Bernard Looney's abrupt resignation in September, two sources with knowledge of the matter told Reuters.The board is expected to decide on the appointment before BP reports its full year results on Feb. 6, one source close to the process said.Thomson was appointed interim CFO a week after Auchincloss took the helm of the energy company on Sept. 12, when Looney stepped down for failing to disclose past relationships with employees.
Maersk to Cut at Least 10,000 Jobs as Shipping Boom Unravels
the lower end of the range.Underlying earnings before interest, tax, depreciation and amortization (EBITDA) dropped to $1.9 billion in the third quarter from $10.9 billion a year earlier, slightly above analysts' expectations of $1.81 billion in a Refinitiv poll. Revenues fell 47% to $12.1 billion.(Reuters - Reporting by Jacob Gronholt-Pedersen and Louise Rasmussen, editing by Terje Solsvik, Miral Fahmy, Elaine Hardcastle
UK's Wood Group Ropes in Rolls-Royce exec as New CFO
plan to buy the London-listed John Wood after multiple attempts without citing any reasons. Outgoing CFO, David Kemp, whose retirement date is yet to be announced, held the role since 2015 and oversaw the oil and gas business transforming into a broader consulting and engineering company.(Reuters - Reporting by Prerna Bedi in Bengaluru; editing by Eileen Soreng
Wood Group Raises Profit Outlook on Contract Wins; CFO to Retire
for the full-year to be above its previous expectations while revenue is seen to be around $6 billion. The company clocked annual revenues of $5.4 billion in 2022.Separately, the company also announced that its finance chief David Kemp would retire but remain in the role until a successor is appointed.(Reuters
Western Canada Dock Workers Vote to Accept Contract Offer
that are critical to Canada’s supply chain."The ILWU, which represents about 7,500 dock workers, had been negotiating for months with the BCMEA.Disagreements over pay and a proposal to expand the union's jurisdiction to regular maintenance work on terminals led to a 13-day strike in July.(Reuters - Reporting by David Ljunggren, Gursimran Kaur and Anna Mehler Paperny; Editing by Simon Cameron-Moore, William Mallard and Alistair Bell
Canada's Dock Workers, Employers Reach Labor Deal
to direct the CIRB to resolve the dispute.That rejected deal had provided a compounded wage increase of 19.2% and increased retirement payouts in 2026 to C$96,250 ($72,625) for eligible retiring employees, over and above employees' pension entitlements, according to the employers' association.(Reuters - Reporting by Shubham Kalia, David Ljunggren and Ismail Shakil; Editing by Bernadette Baum, Angus MacSwan and Cynthia Osterman
Canada's Pacific Dock Workers Ordered by Labor Watchdog to End Strike
workers and unions in recent months, to pass back-to-work legislation, or the Bloc Quebecois, whose leader has yet to comment.It also means the Liberal-NDP deal that is keeping the government going could be put under strain if Trudeau chooses to force an end to the strike($1 = 1.3181 Canadian dollars)(Reuters - Reporting by Ismail Shakil in Ottawa; Editing by Chizu Nomiyama, Andrea Ricci and Chris Reese
Canada Port Strike Resumes
Tuesday.Pierre Poilievre, leader of Canada's opposition Conservative Party, criticized O'Regan for failing to solve the dispute."He claimed he'd gotten a deal to end the strike. Now it's back on with massive costs to consumers, workers and business," Poilievre said on Twitter.(Reuters - Reporting by Nia Williams; Editing by Sandra Maler and Leslie Adler
Panama's Arsenio Dominguez Elected as IMO Secretary General
challenges ahead as the industry strives to meet the 2030, 2040 and 2050 targets", Platten said, adding that Dominguez "will lead with equal measures of authority, purpose and compassion".The IMO's current secretary-general Kitack Lim from South Korea has served two terms in the role.(Reuters - Reporting by Jonathan Saul; Editing by Jason Neely and Conor Humphries
Canadian Port Strike Talks Resume, Supported by Federal Mediators
is due to hold a rally on Sunday in Vancouver.The Canadian Manufacturers & Exporters (CM&E) industry body said the strike is disrupting C$500 million ($377 million) in trade every day. That could lead to supply-chain disruptions that fuel inflation, economists say.($1 = 1.3271 Canadian dollars)(Reuters - Reporting by Fergal Smith; Editing by Mark Porter
Next Wave of North American LNG Export Projects to Face Labor Challenges
modular Calcasieu Pass LNG plant, allowing it to open the facility in what it said was record time. But problems with the equipment have prevented it from delivering contract cargoes, the company has said. First commercial cargoes will not be available until 2024, two years after processing began.(Reuters - Reporting by Curtis Williams in Houston and Nia Williams; Editing by Matthew Lewis
