Orange Finance Head Fernandez to Join CMA CGM
French telecoms group Orange's deputy chief executive and head of finance, Ramon Fernandez, is leaving the company to join shipping and transport company CMA CGM as finance director.Fernandez will Orange at the end of the first quarter of 2023, the company said on Tuesday, adding that a successor will be named soon.French transport group CMA CGM said in a separate statement that Fernandez would start his new role at the start of the second quarter next year."I would like to thank Ramon for his unfailing commitment to the group," Orange CEO Christel Heydemann said in statement. "He
Kelleher to Succeed Tivnan as Ardmore Shipping CFO
, effective September 28, 2022.Anthony Gurnee, Ardmore's chief executive officer, said, Kelleher and Tivnan will overlap and work together from September 1 to "achieve an orderly and well-planned transition".Kelleher brings to the role more than 25 years of progressive experience in the maritime, finance, energy and industrials sectors, having most recently served as chief executive officer of Chembulk Tankers. He previously served as both Chief Strategy Officer and Chief Financial Officer of the firm, and prior to that, was the chief operating officer of Principal Maritime Management.
Damen Names Suhlmann CFO, Herrebout Chief Counsel
As of April 1, Ronald Suhlmann will become chief financial officer of Damen Shipyards Group. He succeeds Tom Touber, who held this position ad interim for two years.Suhlmann started his career at Ballast Nedam and moved to Damen in 2015, where the register controller was both financial director of the Dutch shipbuilding conglomerate's naval and yachting divisions. With his appointment as CFO, Suhlmann becomes a member of Damen's executive board.In addition, the areas of risk, compliance and legal are invested more firmly within the executive board through the creation of the new role of chief
Carnival Cruise Line Names Campbell CFO
Carnival Cruise Line said it has named Darrell Campbell as chief financial officer. He joins the U.S.-based cruise operator from parent company Carnival Corporation where he has served as corporate treasurer since 2017.Prior to his role at Carnival Corp, Campbell served as an audit partner at PricewaterhouseCoopers LLP. He is a licensed CPA in Florida and New Hampshire. He has master's degrees in accounting from Florida International University and in international business from the University of Florida. He also holds a bachelor's degree from University of the West Indies in Jamaica.
Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities
Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia Pacific Maritime and Offshore Group and is accompanied by senior associate Bernice Chia.“When we launched our commodities and shipping group last year we set our sights on creating one of the premier practices in the market,” said Steve Mahon, global managing partner – clients and strategy. “The team has gotten off to a fast start and Kate
Martijn van den Berg joins Zuyderzee Capital
Zuyderzee Capital, the specialized investment and advisory services company focused on maritime and logistics, announced a new strategic initiative intended to broaden the overall consulting service offering to its client base: Operational & Administrative Advisory.Martijn van den Berg joins the firm as Director responsible for the new business unit.Martijn joins Zuyderzee Capital having spent more than 24 years at ABN AMRO Bank and its predecessors including many years in the international asset-based lending division where he gained valuable experience in the area of Client Acceptance and
Offshore Industry Welcomes UK Gov't Job Retention Bonus. Calls for Long-Term Support
The UK Chancellor of the Exchequer Rishi Sunak has announced a new Job Retention Bonus scheme to encourage firms to keep on workers furloughed due to the COVID-19 impact on the economy.The UK government will introduce a one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed through to the end of January 2021. It has set aside 9.4 billion pounds for the scheme."The unprecedented Coronavirus Job Retention Scheme (CJRS) has so far supported over one million employers to protect over 9 million jobs. The scheme has been open since March, and
3,800 Petrobras Workers Might Take Voluntary Severance Offer
Brazil's state-controlled oil company Petrobras aims to save 7.6 billion reais ($1.4 billion) by 2025 through voluntary buyout programs that will affect 3,800 employees, according to a securities filing on Wednesday.Petroleo Brasileiro SA, as the company is formally known, on Wednesday launched a new program focused on employees who are eligible for retirement, and said it is making adjustments to voluntary severance programs already in place.Petrobras in recent years has initiated several waves of buyouts, which have gained urgency as the company sells off hundreds of assets and exits various
Report: Petrofac to Let Go 20% of Workforce
Oilfield services provider Petrofac is launching a redundancy programme that it expects will end up reducing staff numbers by 20% as it seeks to cope with plunging oil prices, according to a source and an internal email seen by Reuters.The Britain-based company, which said redundancies would be voluntary but could become compulsory if not enough people took up the offer, said it might also consider reducing base salaries by at least 10% for many employees."The oil price slump can be expected to have a considerable impact on demand for our services in the short and medium-term," Petrofac
FSL Trust Names Wenker CFO
Singapore-based First Ship Lease Trust (FSL Trust) has appointed Markus Wenker as chief financial officer, to replace Alan Mitchell, who is retiring.Wenker will take over the role and responsibilities May 4, following a handover process.Wenker was most recently head of ship finance at Hellenic Bank from 2016. Previously, he held a number of roles at HSH Nordbank from 2002 to 2016.FSL Trust's current fleet of 16 vessels comprises containerships and a variety of tankers. Of these, 10 vessels are leased to international shipping companies on long-term bareboat charters. Six vessels are employed on
Dan-Bunkering Appoints Finance Director
A/S Dan-Bunkering Ltd. appointed Ulrik Silversparre Bodholdt as Finance Director as of January 1, 2020.Bodholdt joins Dan-Bunkering from a position as Auditor and Department Manager with a large renowned accountancy firm and will be based in Dan-Bunkering’s office in Copenhagen.Bodholdt will have the overall responsibility for the finance functions across the group’s 12 offices.
New Online Marine License Insurance Program
Mariners looking for insurance have a new option that is touted as being fast and affordable, cared for immediately in an online format that is designed to be more expedient than ever.360 Coverage Pros launched a new Marine License Insurance Program for mariners that offers an entirely online buying experience combined with low monthly payment options and instant proof of coverage.Until now, the process of securing a marine license insurance policy involved requesting quotes, filling out lengthy applications and waiting days to receive a premium proposal before finally binding coverage.With the new
Australia Bans Two Bulkers Over Mariner Pay Spat
The Australian Maritime Safety Authority (AMSA) has banned two foreign-flagged bulk carriers from Australian ports after their crews reported being underpaid.The Chinese-owned bulk carrier MV Xing Jing Hai and the Panama-flagged MV Fortune Genius were banned for 18 months and 12 months respectively.AMSA surveyors boarded the Fortune Genius in Gladstone after receiving a complaint via the International Transport Workers’ Federation.AMSA’s investigation revealed the crew of the Fortune Genius had been deliberately under paid by the operator, New Fortune Genius Management, by about AUD $100
Clipper Bulk Axes 40 Staff
International dry bulk shipping company Clipper Group has launched a comprehensive restructuring involving a large number of layoffs, especially at the company's Copenhagen headquarters.The dry bulk carrier announced a series of initiatives to strengthen its business platform amid continued weak markets.Initiatives include agreements to strengthen the company’s financial position, downsizing of organization and office network, other cost savings, changes to Senior Management as well as a more focused market approach, said a press release from the operator of Handysize and Supramax
Dan-Bunkering Promotes Bunker Trader
Dan-Bunkering promoted Bunker Trader Søren Emil Dam to Bunker Trader & Team Leader as of February 1, 2019.Søren Emil Dam is a Danish national and joined Dan-Bunkering’s Danish head office in Middelfart in 2013. One year after his employment, he relocated to become part of the company’s Middle Eastern office in Dubai. Søren has during his engagement with Dan-Bunkering demonstrated excellent leadership skills, dedication and business acumen, making his advancement to Team Leader an obvious next step in his career.
ITF Exposes Wage Theft on BlueScope Ship
Wage theft aboard a BlueScope chartered foreign-flagged ship in Port Kembla has been exposed after intervention from the International Transport Workers’ Federation (ITF).Inspections by ITF inspectors in Western Port and Port Kembla of the Panamanian registered vessel KEN EI, in January, led to $38,384 in coastal wages being paid immediately in cash to the 20 Filipino seafarers crewing the ship.“Upon arriving in Western Port, the crew on the KEN EI immediately asked our inspector about claims for payment for two coastal voyages and requested that the ITF contact the shipowner as they had
Seadrill CFO to Step Down in June
Norwegian offshore drilling rig firm Seadrill Ltd said on Thursday that Chief Financial Officer Mark Morris will step down following completion of the company's financial restructuring.The company, controlled by Norwegian-born billionaire John Fredriksen, said it has begun a formal search process and that Morris will remain in the role until the end of June to make the transition possible.Separately, Seadrill Partners said Morris would step down as chief executive officer of that firm at the end of June. Seadrill Partners is a limited liability company formed by Seadrill Ltd to own, operate and
Total Taps Warn as Investor Relations SVP
French supermajor Total has appointed Brendan Warn as Senior Vice-President, Investor Relations, effective January 1, 2019. He succeeds Mike Sangster.Prior to joining Total, Warn was Managing Director and UK Head of Equity Research at BMO Capital Markets in London. HE has more than 13 years of experience in equity research across three investment banks including Macquarie Capital and Jefferies International in London. Previously, Warn was an Associate Director at Evans & Peck and a mining engineer at BHP in Australia.Warn qualified as a Mining Engineering at the University of South Australia and
Crowley Promotes Harrison
Crowley Maritime appointed Parker Harrison to its leadership team as senior vice president of procurement and risk management, effective Jan. 1, 2019. Harrison, former VP of procurement, will continue to be based at the company’s headquarters in Jacksonville, and will report to Bill Pennella, vice chairman and executive vice president.In her new role Harrison will work across all of Crowley’s business units to strategically align risk management functions while continuing the company’s procurement transformation into a strategic center-led competency. She will be responsible for the
Vikner Joins MJP as COO
Marine Jet Power (MJP) has welcomed its new Chief Operating Officer (COO), Mia Vikner. In this role, Vikner will be responsible for operational efficiencies as well as process implementation to drive the continued growth of the company. Vikner joins the company after serving in various roles within Uson Marine Group, where she most recently held the post of CEO at the company’s headquarters in Stockholm, Sweden. With over ten years of experience in the marine industry, Mia is well versed in operations management and quality control.Vikner holds a Master of Science in Chemical Engineerin
KPI Bridge Oil Promotes Freeman to CFO
KPI Bridge Oil, a global trader and broker in marine fuels, marine lubricants and risk management products, has announced the promotion of Victoria Freeman to Chief Financial Officer.Freeman, 34, joined KPI Bridge Oil as Accountant in 2009 and was promoted to Group Financial Controller in 2013 when she took overall responsibility for the accounting and finance functions across the Group’s 9 offices worldwide. Coincidentally, she also celebrates her 9th anniversary with the Group on November 1, 2018.Prior to joining KPI Bridge Oil, Freeman worked in audit at a renowned accounting and advisory
ShipMoney Announces New Appointments in Europe
Specialized global maritime payments provider ShipMoney has announced a series of high level appointments to its European operations team.Roula Zachariou joins the ShipMoney team as Vice President of Business Development and Client Management. She brings with her over 20 years of local knowledge and relationships in the Greek and Cypriot maritime markets which will immediately boost ShipMoney’s ability to support clients locally as well as continue to develop and grow business in these important areas.Joining Roula is Matthew Sankary who has been appointed Director of Account Management Europe
Croatian Shipbuilders Strike Again Over Late Salary
Workers at Croatia's largest shipbuilding group Uljanik on Monday held their second strike in less than two months, this time over unpaid salary for September.In late August, the workers downed tools because of uncertainty over payments for July and August. Those two months' salaries were secured after the government reached a deal with a local bank.Uljanik owns two docks, with some 4,000 workers, located in the northern Adriatic cities of Pula and Rijeka. Some 1,500 started a protest march on Monday through the streets of Pula.The shipbuilding group has had liquidity problems in the last 12
Neptune Energy Names Lumens CFO
Private equity backed oil and gas producer Neptune Energy on Monday named former Louis Dreyfus executive Armand Lumens as its chief financial officer. Lumens worked with Louis Dreyfus Co as its group chief financial officer for less than two years and last month left the commodities trader citing personal reasons.Lumens will join Neptune on December 1, the company said in a statement.Neptune, based in London, is backed by Carlyle Group and CVC Capital partners and headed by former Centrica boss Sam Laidlaw.(Reporting by Shanti S Nair; Editing by James Emmanuel)
Boskalis Nominates van Noort as New CFO
Royal Boskalis Westminster N.V. has nominated Carlo van Noort to be appointed as Chief Financial Officer (CFO) of Boskalis at the Annual General Meeting of Shareholders (AGM) in May 2019. The term of the current CFO, Hans Kamps, expires on the date of that same AGM.van Noort is currently financial director of Boskalis Nederland. He has held various finance positions within the three divisions of the Group over the last 12 years and is currently financial director of Boskalis Nederland. Following his accounting and auditing degree from Nyenrode Business University, van Noort worked as an auditor with
Port of Duluth-Superior Generates $1.4 bln and 8,000 Jobs
The Port of Duluth-Superior generated $1.4 billion in economic activity and supported 7,881 jobs last year. Handling 35 million short tons of cargo generated over $504 million in total wages, salaries and purchases of goods and services in the regional economy. Cargo movement and vessel activity at the port also generated a total of nearly $240 million in federal/state tax revenues.The full report for the Port of Duluth-Superior, released by the Duluth Seaway Port Authority, spotlights local port activity gleaned from a much broader study released last month about the economic impacts of the entire
Croatian Shipyard Workers to End Strike, Future Uncertain
Workers at Croatia's largest shipbuilding group Uljanik, who have been on strike for more than a week, began receiving their delayed July salaries on Friday and are set to return to work on Monday.Union leaders and Prime Minister Andrej Plenkovic, whose government struck a deal with a local bank, confirmed the payments for some 4,500 workers at the docks, located in the northern Adriatic cities of Pula and Rijeka.Last Monday the workers protested in Zagreb demanding the government's help.Despite the funds secured for July and August salaries, in line with the government's promise, uncertaint
CGG Names Baidoukov CFO
CGG has appointed Yuri Baidoukov as Group CFO, effective September 1, 2018. He will be based in Paris and report to the Chief Executive Officer, Sophie Zurquiyah.Baidoukov brings to the role 25 years of international oil and gas industry experience. He is currently Group CFO at OiLSERV Group, a Middle East and North Africa Oilfield Services company. Prior to this, he was CFO of Maersk Oil US, and Group CFO of Integra Group, a CIS oilfield services company. Baidoukov spent 10 years of his career at Schlumberger in finance positions at the corporate and regional levels.Baidoukov holds an MBA degree from
Teekay Offshore Taps Steinsland as CFO
Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P., announced today that Jan Rune Steinsland has been appointed the new Chief Financial Officer (CFO) of Teekay Offshore Group Ltd., a management services company that provides services to the Partnership’s subsidiaries (together with the Partnership, the Teekay Offshore Group) effective September 3, 2018. The Partnership’s interim CFO, Tim Cowan, will step down effective September 3, 2018, but will remain with the Partnership for a period of time to ensure a smooth transition.Steinsland brings approximately 30 years
Schlumberger CFO Ayat to Retire Soon
Schlumberger NV Chief Financial Officer Simon Ayat plans to retire this year and a company insider has emerged as top candidate to replace him at the world's largest oil services firm, three people familiar with the matter told Reuters.Stephane Biguet, currently vice president of finance, is the frontrunner to replace Ayat, according to the people who declined to be named because the matter is not yet public.Schlumberger declined to comment.The CFO change would come as rising oil prices and dwindling producer reserves are helping lift demand for oil services, which were hit hard by the 2014 oil
Kreuz Subsea Names Liew CFO
Subsea services business Kreuz Subsea has appointed Thomas Liew as the group’s chief financial officer.Liew has more than 20 years’ experience in senior financial positions, leading multi-entity organizations in the Asia Pacific region and has been instrumental in driving growth and profitability through the implementation of key operating structures. His previous roles include VP Finance at ALSTOM Grid where he was CFO for ALSTOM’s EPC business in the Asia Pacific region. Prior to ALSTOM, Liew also held key finance and strategy positions with SONY Electronics Asia Pacific Pte Ltd
Sailors’ Society Select Kamatoy for MIHCA Scholarship
Aspiring chef, Kristina Kamatoy, 18, has been selected as the second beneficiary of a maritime education scholarship co-funded by Sailors’ Society and Garrets International, and given by Homer Foundation. Kamatoy, from Quezon in The Philippines, received the scholarship to train at the Magsaysay Center for Hospitality and Culinary Arts (MIHCA) in Manila. The Sailors’ Society – Homer Foundation Scholarship enables Filipino students from underprivileged backgrounds to pursue culinary careers in the shipping industry. Kristina said: “This scholarship will serve
ExxonMobil Hires Crude Trader in Singapore
Crude oil trader Michael Huang is expected to join Exxon Mobil Corp in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world's top importer of the commodity, three industry sources said. Huang was recently a Singapore-based crude trader for Chinese independent refiner Wonfull Petrochemical, purchasing feedstock for its Shandong refinery and carrying out hedging activities. He left the company in late June, the sources said on Monday. Before Wonfull, Huang has worked for China's CEFC International Singapore, the Intercontinental Exchange (ICE)
Maersk Poaches New CFO from Assa Abloy
Denmark's A.P. Moller-Maersk has chosen Carolina Dybeck Happe as its new Chief Finance Officer, it said on Wednesday.Happe will take the position at a time where Maersk is undergoing a strategic transformation from a broader conglomerate including an oil business to a more focused shipping company.The 45-year Swede, who comes from a CFO position at the world's biggest lock group Assa Abloy, will start on Jan. 1 2019 at the latest, Maersk said in a statement.The move comes after former CFO Jacob Stausholm stepped down in March after the company decided to separate the finance role from its IT
Corpus Christi Gearing Up to Handle US Shale Export Boom
Port officials on Tuesday are expected to consider $300 million in financing that would prepare the country's largest oil-export port - Corpus Christi, Texas - to handle a surge in U.S. shale production over the next five years.International buyers would like more U.S. crude but are unable to get it because of infrastructure constraints along the U.S. Gulf Coast. Terminals originally designed for imports only recently have revamped operations to handle exports including accepting larger tankers preferred by China and other oil buyers.The Port of Corpus Christi Commission is voting on a plan that
S.Korea: Five Shipbuilding Regions get "Industry Crisis" tag
South Korean Finance Minister Kim Dong-yeon said on Tuesday the government will designate five key shipbuilding centres on the country's south coast as "industry crisis" zones eligible for economic support. The areas include Dong-gu in the city of Ulsan, Geoje-si of Kyong-nam province and Jinhae-gu of Changwon, as well as Tongyeong and Mokpo in the southwest coast. These areas are home to heavy shipping and shipbuilding companies and have struggled with high unemployment in recent years. A copy of the minister's speech released from the ministry showed the government
Teekay Offshore CFO Wong to Step Down
Teekay Offshore Partners L.P. announced today that David Wong will step down from his position as Chief Financial Officer of Teekay Offshore Group Ltd. to commence a new opportunity outside of the Teekay organization.Wong, who joined Teekay Corporation in 2009 and has served as Teekay Offshore CFO since 2015, will continue with the Teekay until August to assist with the transition while a search for his replacement is conducted.
Crooker Named VP at Ingalls Shipbuilding
Eric Crooker has been promoted to vice president of contracts and pricing for Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division.Effective immediately, Crooker will have overall responsibility for contracts, estimating and pricing, and export/import licensing and compliance for the Ingalls shipyard and will report to Tom Stiehle, Ingalls’ vice president, business management, and chief financial officer.Crooker succeeds Don Perkins, who will retire from Ingalls on July 1.Crooker joined HII in 2012 and served as a senior counsel at Ingalls. In 2017, he was promoted to director
JAXPORT Names McCague Interim CFO
Experienced financial executive Beth McCague has been tapped to serve at Interim Chief Financial Officer of the Jacksonville Port Authority (JAXPORT).McCague, who has been serving as an advisor to JAXPORT’s CEO and finance group, will assume responsibility for the port’s budget and accounting, treasury, payroll, procurement, economic forecasting/planning, and external auditing functions effective May 7, 2018. She will also oversee JAXPORT’s $600 million capital program and will be JAXPORT’s primary liaison with bondholders, lenders and credit rating agencies.Prior to joining
NYK Green Bonds Issue a Global Shipping First
NYK will publicly offer Green Bonds (Unsecured Corporate Bonds No.40) within the Japanese domestic market in May, becoming the world’s first company to issue labelled Green Bonds in global shipping business sector. A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects. NYK’s new medium-term management plan “Staying Ahead 2022 with Digitalization and Green” positions the company to integrate environmental, social, and governance (ESG) principles into management strategies to contribute to the sustainable development
Courson to Replace Spivak as Seaspan CFO
Ship owner Seaspan Corporation announced that Ryan Courson will take over as the company’s chief financial officer following David Spivak’s decision to leave the post in early May. Spivak will continue as CFO until May 5 and will stay on as special advisor to the president and chief executive officer through the end of June. Courson joined Seaspan in March 2018 as senior vice president of corporate development. Prior to joining Seaspan, he spent three years at Falcon Edge Capital, and before that worked at Teton Capital as an investment professional and acting CFO of
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. Earlier in his 25-year career at Stolt-Nielsen, Grüner-Hegge
Norway Calls in Mediator to Avert Strikes
Norwegian employers and labor unions failed to reach a deal in initial wage talks on Thursday, union sources told Reuters, leaving it up to a state-appointed mediator to avert widespread strikes that risk impacting output in western Europe's biggest crude producer. Negotiations will resume after the upcoming Easter holiday, ahead of an April 7 deadline, after which most workers are allowed to go on strike. While Norway's production of oil and natural gas is unlikely to be targeted from the start since the contract for rig workers' is valid until June, unions may still hit the sector by shutting
Sweden's Vattenfall to Cut 1,500 Jobs
Sweden's state-owned utility Vattenfall said on Monday it would cut 1,500 full-time positions among its employees and consultants by 2020 as part of a long-running drive to boost competitiveness and profitability. The announced job cuts form part of a 2 billion Swedish crowns ($244.62 million) cost-savings programme that Vattenfall announced a year ago. "The fact that we now show a positive financial result doesn't mean that we can rest on our laurels," Vattenfall Chief Executive Magnus Hall said in a statement. Vattenfall has about 20,000 employees, primarily in Sweden, Germany, the
Dan-Bunkering Promotes Two Bunker Traders
Dan-Bunkering has announced the promotion of Bunker Traders Rali Bara and Lamin Bara in its Dubai office as of March 1, 2018. Rali Bara, who joined the Dubai office in 2013 was promoted to Bunker Trader & Team Leader and has during his career with Dan-Bunkering shown great business instinct and strong leadership skills, which is why a promotion to Team Leader was an obvious next step up the internal career ladder. Lamin Bara, who was also promoted to Bunker Trader & Team Leader started with Dan-Bunkering in Dubai in 2015 and has demonstrated the ability to motivate the team
PSA International sees profit jump 5.0%
* PSA International Pte Ltd (PSA) handled 74.24 million TEUs for the year ended 31 December 2017, representing an increase of 9.8% from the previous year. * PSA's flagship Singapore Terminals contributed 33.35 million TEUs, increasing 9.0% over 2016. PSA terminals outside Singapore delivered a total throughput of 40.89 million TEUs, increasing 10.4% over 2016. * PSA Group revenue rose 7.8% and profit from operations grew 5.0% compared to previous year. Overall net profit for the year was 5.1% higher at $1.23 billion. * PSA's balance sheet remains strong with a gross debt equity ratio of 0.
Oil Producer Norway Starts Wage Talks to Avert Widespread Strikes
Norwegian employers and labour unions embarked on four weeks' of wage talks on Monday to stave off widespread strikes that risk impacting output in western Europe's biggest crude producer. Unlike most years, in which wages are set on an industry-by-industry basis to reduce complexity, the 2018 round rolls a majority of private sector firms into a single negotiation in a bid to resolve a stand-off over pension reform. "We've understood that there is no real will among employers to compromise from the outset," labour union negotiator Asle Reime, who will represent oil workers
Seaspan Appoints Brass as CFO
Seaspan Shipyards (Seaspan) has appointed Christof Brass as Chief Financial Officer (CFO). Christof brings over 20 years of experience successfully delivering large, complex programs for multinational companies. With an extensive back-ground in strategic financial planning and analysis, Christof will help drive the continued success and improvement of Seaspan. “As a leader with experience in transforming international finance teams, Christof has all of the skills that we were looking for to lead the financial components of our business,” said Brian Carter, President and CEO
SSG, MPA and Maritime Union to Inject $12.6 mln in Training
The Singapore maritime industry looks well-positioned for the future, with strong support from SkillsFuture Singapore (SSG), the Maritime and Port Authority of Singapore (MPA), and Singapore Maritime Officers’ Union (SMOU) in the form of continued funding for the Tripartite Nautical and Engineering Training Award (TNTA & TETA) Programs worth S$12.6 million. The TNTA and TETA programs will receive funding support from SSG, MPA and SMOU. The two cadet training programs are recognized as key opportunities for Singaporeans to develop themselves to the fullest potential through
Vallourec Drilling Products Cuts Roughly 150 Jobs in Texas
Vallourec Drilling Products, a subsidiary of Paris, France-based steel pipe maker Vallourec , will lay off roughly 150 employees in Texas, according to a regulatory filing. Vallourec specializes in making tubular products for the energy and other industrial sectors. It has about 19,000 employees worldwide. The layoffs come as companies that supply equipment and services to the oilfield are still recovering from a three-year rout in oil prices. Although benchmark crude futures have traded above $60 a barrel for much of the year, they have fallen recently amid concerns of growing supply. On
Dan-Bunkering Promotes Cördük
A/S Dan-Bunkering Ltd. has announced the promotion of Ibrahim (Ibo) Cördük to Senior Bunker Trader effective January 9, 2018. Cördük originally joined Dan-Bunkering’s Middelfart office in 2008, thus he can celebrate his 10th anniversary with the company this year.
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. Most recently, he was CFO of Academic Partnerships, a Dallas-based educational technology
Deutz Names Strecker CFO
Dr. Andreas Strecker, 56, was appointed as a member of the Board of Management of DEUTZ AG, effective 1 March 2018, and will assume responsibility for Finance, Purchasing, Human Resources and Information Services from 1 April 2018. He succeeds former CFO Dr. Margarete Haase, 64, whose contract ends on April 30 2018. Dr. Strecker previously worked in managerial positions in the Bus and Controlling units of the Daimler Group, most notably for many years as the President and CEO of Daimler Buses North America. More recently, he was the CFO at Novoferm Group for four years, before becoming CEO of Solaris
Trafigura Hires ex-Noble Crude Oil Trader
Trading house Trafigura has hired Dan Stirk, formerly a North Sea crude oil trader at commodity trader Noble Group, to join its crude desk, according to trading sources. Stirk started his new job this week, one of the sources said. He served as North Sea trader at Noble starting in July 2016, according to his LinkedIn page. The move comes after Chinese trader Unipec hired three former Noble employees to join its middle distillates desk in London. Reporting by Ahmad Ghaddar
Samsung Heavy Industries Replaces CEO
South Korea’s Samsung Heavy Industries named Joonou Nam as its new chief executive officer on Monday after Park Dae-young resigned to take responsibility for the firm’s losses. The shipbuilder’s shares plunged last week as it forecast a fourth straight year of operating losses and announced a rights issue. Nam previously oversaw Samsung Heavy’s shipyard in Geoje, South Korea. (Reporting by Hyunjoo Jin and Joyce Lee; Editing by Stephen Coates)
Andrade Named CFO at Teekay Tankers
Stewart Andrade has been appointed Chief Financial Officer of Teekay Tankers, succeeding Vince Lok who will remain Teekay Corporation’s Executive Vice President and Chief Financial Officer. Andrade joined Teekay in 2002 and has worked in several senior roles across the organization. His most recent role was Vice President, Strategy and Business Development for Teekay’s tanker business, a position he has held since December 2015. Prior to joining Teekay, Andrade, a Canadian Chartered Professional Accountant, worked in Ernst and Young’s consulting practice providing
UK Shipping Seeks to Double Seafarer Training Fund
. The letter was also sent to the Chancellor of the Exchequer, Philip Hammond and the Minister of State, Department for Transport, John Hayes. The UK Chamber, in conjunction with Nautilus International, has submitted a proposal for the Government's existing Support for Maritime Training (SMarT) scheme to be extended. “The Government’s review of SMarT recognised that change was necessary and recommended the level of support should increase from £15 million to around £30 million annually, to be competitive with other European Countries&rsquo
The Impact of Decarbonization on Shipping Finance
line with the transition to a low-carbon economy. To fully achieve this, they must address the climate risks to hundreds of billions of dollars in shipping investments that will emerge as soon as 2023.” - Maurice Meehan, Director of Global Shipping Operation, Carbon War Room At a Global Maritime Forum roundtable in London yesterday, the Carbon Pricing Leadership Coalition and global NGO Carbon War Room, worked with shipping leads from major global financial institutions to explore the challenges of decarbonisation for ship financing. With the launch of the report Preparing shipping
Continuing to Pay Crews with Cash Will Bring Further Challenges
Paying crew members in cash will lead to further challenges of increased incidents of piracy and theft, says global financial payments company ShipMoney. ShipMoney President Stuart Ostrow will address delegates at Crew Connect Global, taking place between in Manila November 6 to 8, explaining the challenges ship managers face by continuing to pay their seafarers with cash. The company believes that shipping businesses are leaving themselves open to increased incidents of piracy and theft by not looking at alternative payment methods and fully embracing the new digital age. Giv
Harley Marine Hires Adlakha as CFO
attacks. He later earned a Masters of Business Administration and International Business Diplomacy Certificate from the McDonough School of Business at Georgetown University. Following his Coast Guard career, Sterling held positions in investment banking and equity research before returning to his maritime roots at the Kirby Corporation where he held positions as Corporate Finance Manager, Director of Investor Relations and Finance, and finally, Vice President and Chief Financial Officer of United Holdings LLC
Maersk Oil CEO to Step Down after Total Takeover
The chief executive of Maersk Oil, Gretchen Watkins, will leave the company when Total's acquisition of the company has been completed, Maersk said Wednesday. Watkins joined Maersk Oil as Chief Operating Officer in January 2014 and took the role of CEO in October last year. Prior to joining Maersk Oil, she had worked at Marathon Oil and BP. Total agreed last month to buy the oil and gas business of A.P. Moller-Maersk for $7.45 billion, strengthening the French major's operations in the North Sea. The current COO at Maersk Oil, Martin Rune Pedersen, will become vice president
Turnbull Named Senior Advisor at Seabury Capital
, President & CEO John E. Luth commented, “The addition of an experienced and well-respected industry expert such as David Turnbull will advance Seabury Capital’s efforts in serving our clients’ needs. His insights and significant reference points within the aviation, aerospace and maritime industries, especially in the Asia Pacific region, will broaden and strengthen our broad range of services and provide enhanced value to our clients.” Turnbull joined the Pacific Basin Board as an Independent Non-Executive Director (INED) in 2006 and was appointed Chairman
Report: Job Security an Issue for Maritime Execs
Maritime recruiter Faststream has surveyed more than 3,000 of the industry’s senior executives for a report examining maritime executives’ thoughts about their careers. “Business leaders and executives have the most dynamic view of the marketplace, but they are rarely asked about their own careers and what they think about working in the maritime sector,” said Faststream CEO, Mark Charman. “This report looks at the views of the employers and not the employees and is the first of its kind which gets beneath the surface to discover what maritime leaders really think.
Australia Bans Bulker for Underpaying Crew
A Panama flagged bulk carrier, DL Carnation, has been banned from entering Australian ports for a period of 12 months after authorities uncovered a scheme which saw the vessel’s crew being intentionally underpaid. The Australian Maritime Safety Authority (AMSA) said it received a complaint on Friday, September 8 via the International Transport Workers’ Federation alleging discrepancies in the payment of wages for the crew of the DL Carnation. An AMSA surveyor attended the vessel in Gladstone and found that the ship was operating with two sets of wage accounts on board: one
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
EIC, Robert Gordon University Announce Award
The Energy Industries Council (EIC) has partneredwith Robert Gordon University’s (RGU) MBA program at Aberdeen Business School to present the EIC Rising Star MBA Award, a brand new initiative designed to develop leaders of tomorrow in the oil and gas sector. The winner of the award will receive full tuition fees (worth £16,500 ($21,000)) for the MBA Oil and Gas Management course at RGU, starting in January 2018. Second prize is a £5,000 ($6,500) scholarship towards tuition fees, third prize is a £2,500 ($3,200) scholarship, and all applicants that meet the entry
Gunvor Hires BP's Former Top US Trader
Gunvor has hired a senior veteran oil trader, David Garza, previously with BP and most recently U.S. oil refiner Tesoro, to run its U.S. operations as the Swiss trading house further expands in North American energy markets. Gunvor began building its U.S trading operations last year, expanding outside its core markets in Europe, Asia and Africa. The company initially focusing on refined products and natural gas but this year has hired several traders to launch a crude oil desk in Houston, Texas, and beefed up its Canadian trading desk. Garza will start in September as the new managing director
